Osisko Royalties ups Q2 cash flow by 40%

Osisko Gold Royalties (TSX: OR; NYSE: OR) reported strong second quarter financials including $19.7 million in cash flow, a 40% increase over the same quarter last year. It also repaid $51.8 million on its revolving credit facility. It also generated an 87% cash operating margin from royalty and stream interests, the highest in the metals and mining sector. The company reported $137.8 million in revenue for 2018’s second quarter, compared with $18.3 million the year before. However, substantial losses through costs of sales and depleting royalties meant the company earned a gross profit of $16.2 million, compared to $14.4 million the year before. After expenses, it recorded $511,000 in net earnings. Continue reading at The Northern Miner.