Triple Flag Precious Metals Corp. Common Shares

Hello, greetings, and welcome to the Triple Flag Precious Metals Q3 2024 results conference call. All participants are in the listen-only mode. Later, we will conduct a question and answer session. To ask a question, please press star followed by the number one on your telephone keypad. As a reminder, this conference is being recorded. At this time, I would like to turn the conference over to Sheldon Vandercoy, CEO. Please go ahead.

Thank you, Jeremy. Good morning, everyone, and thank you for joining us to discuss Triple Flag's 2024 third quarter results. Today, I'm joined by our Chief Financial Officer, Ivan Bari, and our Chief Operating Officer, James Dendel. Triple Flag delivered another strong performance in Q3, with record sales of nearly 30,000 gold equivalent ounces. This has resulted in another record quarter for Triple Flag and places us firmly on track to achieve our 2024 production guidance of 105 to 115,000 ounces. We now expect to achieve the top half of our guidance range. The high grade open pit material from North Parks continues to be a key part of the 2024 story, as North Parks continues to be a strong contributor. I'd like to highlight our growing cash flow per share. Operating cash flow per share increased over 70% as compared to the prior period. This is due to record production, record gold prices, and stable margins insulated from inflationary cost pressures. The streaming model is working as it should for the benefit of our shareholders. Our portfolio has also achieved several milestones over the past three months. These include the following. First, Cerro Lindo delivered robust 2024 production year over year. Second, Orla Mining increased its production guidance for Camino Rojo for the second time this year. Third, Montage Gold fully permitted and financed the Kone project to production. And finally, West Gold announced exceptional exploration results from drilling at the Fletcher zone of Beta Hunt, demonstrating meaningful expansion potential for that mine. Triple Flag acquired its royalties on Camino Rojo, Kone, and Beta Hunt through the Mavericks transaction in 2023, which continues to pay dividends for Triple Flag shareholders. Towards the end of the third quarter, Triple Flag was added to the S&P TSX Composite Index, which brings exposure to a broader investor base as well as greater liquidity in trading. Looking ahead, Triple Flag's growth profile remains strong and well-positioned to deliver long-term value for our shareholders. Our production is expected to be between 135,000 to 145,000 gold global ounces in 2028. With that, I'll turn it over to Ivan to discuss our financial results for the third quarter of 2024.

Thank you, Sheldon. As noted, we have the strongest quarter yet, with the portfolio producing nearly 30,000 GEOs, a new record for the company. This puts Triple Flag right on track to achieve our 2024 sales guidance, as Sheldon just confirmed. As a high-margin royalty and streaming business, these record volumes have translated to record levels of adjusted EBITDA and operating cash flow per share. lastly i'd like to comment on the balance sheet we exited the quarter with a small net debt position of only 11 million dollars following third quarter drawdowns on the credit facility of over 60 million for the acquisition of the new streams with allied gold and an additional royalty on the tamarack project this clearly demonstrates the robust cash flows generated by the triple flag business Our cash flow outlook combined with nearly $690 million of current available liquidity gives us the financial capacity to deploy future capital for future per share growth, as well as deliver high shareholder returns. Moving ahead, we continue to highlight three key aspects of our investment thesis, namely asset diversification, precious metals focus, and a portfolio which derives roughly 80% of its revenues from Australia and America. Sarah Lindo and North Parks continue to be the two largest contributors to Q3 GEOs, with both assets receiving a benefit from higher year-over-year volumes and, of course, higher gold and silver prices. Our asset diversification and geographical focus is well understood. So given the strong precious metals environment, I highlight Triple Flag's continuing 100% portfolio exposure on top line revenue to precious metals in Q3 2024 with a meaningful portion weighted to silver at approximately 30%. I feel fortunate to have this level of exposure given the many favorable tailwinds for both gold and silver in the near to medium term as a pure play Royalty and Streaming Company. As highlighted earlier, the realization of strong precious metal prices and an asset portfolio that continues to deliver has resulted in record performance across revenues, cash flow, adjusted EBITDA, and GEOs over the last 12 months. We expect this performance to continue as we deliver on our 2028 growth outlook. and are committed to remain disciplined on capital allocation as we diligence new deals for creative per share growth and deliver sustainable returns for our shareholders. Over to you, James.