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Maverix Metals beats production guidance for 2018, sees more growth in 2019

For the 12 months, gold equivalent production was around 20,900 ounces, Mavrix says

Gold bars
Maverix is a gold royalty and streaming company,

Maverix Metals Inc (CVE:MMX), the royalty and streaming company, posted record attributable gold equivalent production in 2018 and says it's well positioned for more growth this year.

For the 12 months, gold equivalent production was around 20,900 ounces, better than the high end of the firm's increased guidance of 19,000 ounces, up 75% compared with 2017.

READ THE BIG PICTURE: Maverix Metals is a rapidly emerging gold royalty and streaming company

For the final three months of the year, attributable gold equivalent production came in at 5,650 ounces, an increase of 40% over the fourth quarter of 2017.

"Maverix had another successful year highlighted by record attributable gold equivalent production," said  Dan O'Flaherty,  the president and CEO of Vancouver-based Maverix. "We expect to build off this performance with further significant growth in 2019 as we remain focused on continuing to increase the size and quality of our attractive, cash flowing precious metals royalty portfolio."

Founded in 2016 by Chairman Geoff Burns and CEO Daniel O’Flaherty, Maverix’s sole aim is to deliver shareholder returns through building an attractive precious metals royalty and streaming portfolio.

Looking back and looking ahead

The company now has 79 royalties and streams to its name (mainly focused on gold), of which 12 of the royalties and streams are on mines that are currently producing. These 79 royalties span 15 countries, but the vast majority are in mining friendly jurisdictions

Among the highlights of 2018, Maverix acquired a major portfolio of 51 royalties from the major Newmont Mining.

There was also the creation of a silver stream on Northern Vertex's Moss Mine in Arizona and the expansion of financial capacity, with a US$50M revolving credit facility with the Canadian Imperial Bank of Commerce and National Bank Financial.

For 2019, Maverix expects attributable gold equivalent production expected to be between 22,500 and 24,500 ounces.

Contact Giles at [email protected]

Quick facts: Maverix Metals Inc

Price: 5.78 CAD

Market: TSX
Market Cap: $692.21 m

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