Significant Financial Gains
Q3 net earnings were reported at $265 million or $5.72 per share, primarily reflecting a $340 million gain on the sale of the Arthur Gold Royalty and higher royalty revenues.
Strengthened Balance Sheet
The corporation strengthened its balance sheet with liquidity of approximately $540 million, including cash on hand, credit availability, and proceeds from asset sales.
Improved Commodity Prices
The quarter saw improvements in prices for Potash, copper, U.S.-based electricity, gold, and lithium, contributing to higher royalty revenue.
Debt Reduction
Debt repayments of $11 million were made, including voluntary repayments under a revolver and principal repayment on term debt.
Promising Renewable Royalties
The renewable royalty business remains well funded with increased market activity and projections for continued portfolio growth over coming quarters.
U.S. Electricity Royalties Progress
Excellent progress in U.S. electricity royalties with new projects commissioning, bringing the portfolio to 13 operating state royalties and 5 projects under construction.