Maverix Metals Inc (NYSEAMERICAN:MMX) (TSE:MMX) is celebrating after the royalty and streaming company’s fourth consecutive quarter of seeing a record total number of gold ounces produced.
The company saw nearly 7,000 gold equivalent ounces produced during the fourth quarter of 2019 and a record of around 24,000 attributable gold equivalent ounces over the full year 2019 period.
The 2019 figures were on the upper end of the miner’s guidance and represents an increase of 15% compared to 2018, the miner said in a statement.
CEO Dan O’Flaherty called it “another successful year.”
“We expect to build off this performance with further growth in 2020 from our existing assets,” O’Flaherty said in a statement.
The Vancouver-based firm has a global portfolio of over 100 assets, with 14 currently providing cash flow in the form of a royalty or stream on production.
O’Flaherty told shareholders that the firm will also remain focused on adding new accretive precious metals royalties and streams to its portfolio.
During full-year 2019, Maverix acquired a portfolio of 24 royalties from Kinross Gold Corporation, who in turn took a stake in Maverix. It also increased its royalty to 2.5% on the Hope Bay mine operated by TMAC Resources and purchased a 22.5% silver stream on Ascendant Resources’ El Mochito mine.
Maverix is setting its 2020 guidance to between 27,000 and 30,000 attributable gold equivalent ounces, with around 97% of expected revenue derived from gold and silver.
The company recently declared an inaugural quarterly dividend of US$0.01 per share.
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