Maverix Metals Inc (TSX:MMX) has set its 2022 outlook at between 32,000 to 35,000 attributable gold equivalent ounces from its portfolio of royalty assets.
The Vancouver-based firm said it expects gross cash margins of 90%, with nearly 99% of expected revenue anticipated to come from gold and silver.
Earlier this month, Maverix announced that it had delivered 32,000 ounces of attributable gold in 2021, topping its already-increased annual guidance by nearly 1,000 ounces.
Much of the company’s growth in 2022 is to be driven by acquisitions completed in the second half of 2021, CEO Dan O’Flaherty said in a statement.
Maverix also gave an update on some developments within its wider portfolio.
At the Camino Rojo project, where Maverix owns a 2% net smelter return (NSR) royalty, the company said that project owner and operator Orla Mining Ltd has mostly completed commissioning activities and poured its first gold in December 2021. Orla is targeting commercial production in 1Q 2022, and the mine is expected to produce an average of 120,000 gold ounces annually over the first five years of operation.
Over at the Beta Hunt operation, Maverix said that owner Karora Resources is zeroing in on the nickel potential at the gold-weighted operation, committing 16,000 metres to test and upgrade nickel targets in 2022. Maverix owns a 4.75% gold royalty and a 1.5% nickel royalty on the project.
Maverix also said it is seeing encouraging developments at its Gemfield, Kone, Cerro Blanco, South Railroad, DeLamar, Silvertip, Hope Bay, Mother Lode and El Mochito assets.
“We are excited about the organic growth within our portfolio from our 2% royalty interest at the newly commissioned Camino Rojo mine and the recent announcement by Centerra Gold of its acquisition of the Goldfield project where Maverix owns a 5% royalty on the Gemfield deposit,” CEO O’Flaherty added. “Our team also continues to focus on pursuing new opportunities to grow our portfolio and increase shareholder value."
Maverix owns a globally diverse portfolio of over 120 assets.
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