{"id":1170753,"date":"2020-03-10T15:39:31","date_gmt":"2020-03-10T21:39:31","guid":{"rendered":"https:\/\/www.mining.com\/?p=1016657"},"modified":"2020-03-10T15:39:31","modified_gmt":"2020-03-10T21:39:31","slug":"franco-nevada-posts-record-results","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1170753","title":{"rendered":"Franco-Nevada posts record results"},"content":{"rendered":"<p>Royalty and streaming company Franco-Nevada just had its best year ever, reporting revenue of $844.1 million on the sale of 516,438 gold-equivalent oz.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Net income for the year was $344.1 million, or $1.83 per share.<\/p>\n<p>The final quarter of 2019 was also the company\u2019s best quarter ever, with revenue of $258.1 million on sales of 153,396 gold-equivalent oz. Cash costs were a low $287 per gold-equivalent oz. sold.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>The strong results were boosted by production from First Quantum Minerals&#8217; Cobre Panama mine<\/p>\n<\/blockquote>\n<\/figure>\n<p>The strong results were boosted by production from First Quantum Minerals&#8217; Cobre Panama mine in Panama, where Franco-Nevada has a gold and silver stream. Commercial production at the mine began in fall 2019. Franco-Nevada sold 43,554 gold-equivalent oz. from the mine last year, with sales expected to increase to 90,000-110,000 gold-equivalent oz. this year.<\/p>\n<p>\u201cResults benefited from the start of precious metals deliveries from Cobre Panama, strong production at other key assets and higher precious metals prices,\u201d said Franco-Nevada CEO David Harquail in a release. <\/p>\n<p>&#8220;Thanks to our diversified portfolio, we expect good overall growth in 2020 mostly driven by the continued Cobre Panama ramp-up despite a more conservative outlook for our energy assets. Franco-Nevada is generating substantial free cash flow and, post year-end, is now debt free.&#8221;<\/p>\n<p>For 2020, Franco-Nevada expects even stronger results; the company is projecting attributable royalty and stream sales of between 550,000 and 580,000 gold-equivalent oz. for the year.<\/p>\n<p>In addition to royalty and streaming revenue from gold (the majority of its revenue at $545.8 million), silver, platinum group metals and other mining assets, Franco-Nevada has investments of energy that brought in $86 million last year. The company has a target of no more than 20% of its revenue coming from energy.<\/p>\n<p><em>(This article first appeared in the&nbsp;<\/em><a href=\"http:\/\/www.canadianminingjournal.com\/\"  rel=\"noreferrer noopener\"><em>Canadian Mining<br \/>\nJournal<\/em><\/a><em>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Net income for the year was $344.1 million or $1.83 per share.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170753"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1170753"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170753\/revisions"}],"predecessor-version":[{"id":1170754,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170753\/revisions\/1170754"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1170753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1170753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1170753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}