Maverix Metals Inc Reports Record Revenues and Attributable Gold Ounces for Fifth Consecutive Year

The company sold a record 9,173 gold equivalent ounces in the fourth quarter, up from 8,836 ounces sold in the same period a year ago.

Maverix Metals Inc (TSX:MMX) said it achieved record revenue and attributable gold ounces for the fifth consecutive year by reporting its fourth quarter and full year 2021 results.

Vancouver-based Maverix saw its full-year 2021 revenue rise sharply from 2020, posting $57.5 million in 2021 from 32,026 gold equivalent ounces, up from $51.7 million. dollars from 28,916 ounces in 2020.

The company sold a record 9,173 gold equivalent ounces during the fourth quarter, up from 8,836 ounces sold in the same period a year ago.

READ: Maverix Metals lifts full-year gold equivalent ounces sold guidance as it reports ‘active’ third quarter

4Q Company Net Income Decreased $2.8M vs. $5.3M in 4Q 2020; however, its revenue for fiscal year 2021 was slightly higher at $24.1 million compared to $23.7 million for fiscal year 2020.

Other Q4 balance sheet highlights included operating cash flow of $11.6 million; average cash costs per gold equivalent ounce of $100 and an operating margin of 94%.

“Maverix continued to grow in 2021, achieving a fifth consecutive year of record revenues and attributable gold equivalent ounces, while expanding our portfolio to a current total of 125 royalties and precious metal streams,” said the CEO. Dan O’Flaherty in a statement.

“We have also increased our quarterly dividend by 25% in 2021 and expanded our credit facility, which will allow us to pursue larger and more meaningful growth opportunities. We are excited to see additional organic growth within our existing portfolio in 2022 and beyond, while remaining focused on adding value through additional royalties and stream acquisitions. »

Maverix said it continues to expect 32,000 to 35,000 attributable gold equivalent ounces for 2022 with a cash margin of around 90%, with around 99% of expected revenue coming from gold and the money.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas