Labrador Iron Ore Royalty Corporation announced today its operation and cash flow results for the first quarter ended March 31, 2021 . Financial Performance In the first quarter of 2021, LIORC’s financial results benefited from higher iron ore prices and pellet premiums, partially offset by lower volumes of pellet sales. Royalty revenue for the first quarter of 2021 amounted to $65.2 million compared to $47.6 …
Labrador Iron Ore Royalty Corporation (“LIORC”) (TSX: LIF) announced today its operation and cash flow results for the first quarter ended March 31, 2021 . Financial Performance In the first quarter of 2021, LIORC’s financial results benefited from higher iron ore prices and pellet premiums, partially offset by lower volumes of pellet sales. Royalty revenue for the first quarter of 2021 amounted to $65.2 million compared to $47.6 million for the first quarter of 2020. Equity earnings from Iron Ore Company of Canada (“IOC”) were $57.0 million in th
Franco-Nevada (FNV) Earnings Beat Estimates in Q1, View Up Zacks.com 7 hrs ago
Franco-Nevada Corporation FNV reported adjusted earnings of 84 cents per share in first-quarter 2021, up 47% from the prior-year quarter. Additionally, the bottom line surpassed the Zacks Consensus Estimate of 79 cents.
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The company generated revenues of $309 million in the reported quarter, reflecting year-over-year growth of 28%. The top-line figure, however, missed the Zacks Consensus Estimate of $313 million. In the March-end quarter, 85.4% of revenues were sourced from gold and gold equivalents (61.6% gold, 15.4% silver, 6.3% platinum group metals and 2.1% from other mining assets).
The company sold 149,575 Gold Equivalent Ounces (GEOs) in the reported quarter, up from the prior-year quarter’s 134,941 GEOs. Higher contributions from the Hemlo, Cobre Panama, Antapaccay and Antamina mines were partly offset by lower contributions from Sudbury and Guadalupe-Palmarejo.
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For Q1/2021, revenue was sourced 85.4% from gold and gold equivalents (61.6% gold, 15.4% silver, 6.3% PGM and 2.1% other mining assets). Geographically, revenue was sourced 90.4% from the Americas (28.8% South America, 22.1% Central America & Mexico, 21.5% U.S. and 18.0% Canada).
Portfolio Additions
Vale Royalty Debentures: As previously announced, on April 16, 2021, the Company acquired 57 million of Vale S.A. s ( Vale ) outstanding participating debentures ( Royalty Debentures ) for $538 million. Royalty payments are made on a semi-annual basis on March 31st and September 30th of each year reflecting sales in the preceding half calendar year period. The first payment for H1/2021 will be payable to Franco-Nevada on September 30, 2021, reflecting a net sales royalty for the period January 1, 2021 to June 30, 2021.
Iron Ore Company of Canada has provided Labrador Iron Ore Royalty Corporation with the following update on the situation at IOC’s Sept-Îles port facilities following the fire at Reclaimer no. 2. After initial assessment of the damages, IOC estimates that repairs to Reclaimer no. 2 will be completed in Q4-2021. Currently, Reclaimer no. 1 is in full operation and IOC is also able to by-pass the damaged …
Iron Ore Company of Canada (“IOC”) has provided Labrador Iron Ore Royalty Corporation (the “Corporation”) with the following update on the situation at IOC’s Sept-Îles port facilities following the fire at Reclaimer no. 2.
(in U.S. dollars unless otherwise noted)
TORONTO, April 19, 2021 /PRNewswire/ - Franco-Nevada has acquired 14.7% of Vale s outstanding Participating Debentures ( Royalty Debentures ) from the Brazilian Development Bank ( BNDES ) and the Government of Brazil for $538M. The Royalty Debentures provide holders with life of mine net sales royalties on Vale s Northern and Southeastern Iron Ore Systems and on certain copper and gold operations (together, the Royalty ). This transaction provides royalty exposure to some of the world s largest and most profitable integrated iron ore mines with reserve weighted mine lives of 30 years and potential for multiple additional decades through reserve growth. The Royalty covers a total of 15.6 thousand square kilometers of mineral properties held by Vale in Brazil, also offering exposure to a number of development properties. The Royalty currently generates an annualized pre-tax cash yield of 10% based on acquisition cost and the most recent semi-a