Nomad Royalty (TSX:NSR) Company Ltd said its portfolio continued to show strength in the second quarter to June 30 this year, as the precious metals royalty and streaming group posted revenue of US$4.6 million and declared a quarterly dividend.
The firm owns a portfolio of 15 assets, eight of which are on currently producing mines, and the three-month period saw the revenue come from the sale of 2,577 gold equivalent ounces.
READ: Nomad Royalty Company reveals preliminary 2Q revenue of US$4.6M on 2,577 gold equivalent ounces sold
Nomad also noted that 62% of its revenue in the quarter came from the Americas and 38% from Africa.
CEO Vincent Metcalfe told investors in a statement: "Nomad's portfolio continues to show its strength with some significant developments at our key assets during the quarter.
"In particular, we expect strong growth over the coming years as the ramp-up at the Blyvoor gold mine continues to gain momentum and as Nevada Gold Mines moves towards the development of the Robertson property.
"We are also pleased to have announced the acquisition of a new royalty on the Caserones mine, located in Chile. Our cash flow-focused portfolio continues to differentiate our company from the rest of its junior and intermediate royalty peers."
Highlights of the quarter included the amendment of the Mercedes and South Arturo silver stream, which has replaced the Gold Prepay Agreement by a gold stream on the Mercedes mine, and the completion of the acquisition of an 0.28% net smelter return royalty (NSR) on the producing Caserones copper mine in Chile.
The company declared a quarterly dividend of C$0.05 per share, payable on October 15 this year.
Gross profit was US$1.25 million compared to US$215,000 in the year-earlier quarter, while net income came in at US$260,000 (2020: US$7.2 million).
Nomad ended the period with US$25.4 million, more than double the figure of US$12.2 million reported in 2Q, 2020.
Contact the author at giles@proactiveinvestors.com