VANCOUVER, Feb. 22, 2018
/CNW/ - Maverix Metals Inc. (the "Company" or
"Maverix") (TSX-V: MMX) is pleased to provide guidance for
2018. The Company is expecting meaningful increases in both revenue
and attributable gold equivalent production in 2018, its second
full year of operation.
2018 Outlook
The Company is forecasting the following for
2018(1):
- Attributable gold equivalent production is expected to be
16,500 to 18,500 ounces;
- Revenue is expected to be CAD$26
to CAD$30 million; with
- Approximately 95% of total revenue expected to be from gold and
silver.
In 2018, Maverix is expecting an increase of approximately 40%
to 50% in attributable gold equivalent production as compared to
2017.
Dan O'Flaherty, President and CEO
of Maverix, commented, "Following our record fourth quarter, we are
pleased to forecast substantial growth in 2018 as a number of our
operating partners continue to ramp up and increase production at
their mines. In addition to our current growth, we remain committed
to further expanding our portfolio of royalties and streams in 2018
and beyond."
About Maverix
Maverix Metals Inc. is a gold royalty and streaming company.
Maverix's primary purpose is to provide investors with leverage to
the gold price with lower risk than operating companies. Maverix's
mission is to increase underlying per share value by expanding its
portfolio with acquisitions of high-quality royalties and streams
that offer robust returns.
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(1)
The forecast provided herein assumes a gold price of US$1,300 per
ounce, a silver price of US$16.00 per ounce and a USD to CAD
exchange rate of 1.25. Maverix has included certain
performance measures in this press release that do not have any
standardized meaning prescribed by International Financial
Reporting Standards (IFRS). The Company's royalty revenue is
converted to an attributable gold equivalent ounce basis by
dividing the royalty revenue for a period by the average gold price
based on the LBMA Gold Price PM Fix per ounce for the same
respective period. These attributable gold equivalent ounces when
combined with the gold ounces sold from the Company's gold streams
equal total attributable gold equivalent ounces sold and may be
subject to change. The presentation of this non-IFRS measure is
intended to provide additional information and should not be
considered in isolation or as a substitute for measures of
performance prepared in accordance with IFRS. Other companies may
calculate these non-IFRS measures differently.
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NEITHER THE TSX VENTURE EXCHANGE ("TSX-V") NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
Cautionary note regarding forward-looking statements
This release contains certain "forward looking statements" and
certain "forward-looking information" as defined under applicable
Canadian and U.S. securities laws. Forward-looking statements and
information can generally be identified by the use of
forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology. The forward-looking
information contained herein is provided for the purpose of
assisting readers in understanding management's current
expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other
purposes.
Forward-looking statements and information include, but are not
limited to, statements with respect to the Company's financial
guidance, outlook, proposed plans for acquiring additional stream
and royalty interests and the potential of such streams and royalty
interests to provide returns and the completion of mine expansion
under construction phases at the mines or properties that the
Company holds an interest in. Forward-looking statements and
information are based on forecasts of future results, estimates of
amounts not yet determinable and assumptions that, while believed
by management to be reasonable, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies.
Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual
actions, events or results to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to: the impact of general business and economic
conditions; the absence of control over mining operations from
which Maverix will purchase gold and other metals or from which it
will receive royalty payments and risks related to those mining
operations, including risks related to international operations,
government and environmental regulation, delays in mine
construction and operations, actual results of mining and current
exploration activities, conclusions of economic evaluations and
changes in project parameters as plans continue to be refined;
accidents, equipment breakdowns, title matters, labor disputes or
other unanticipated difficulties or interruptions in operations;
problems inherent to the marketability of gold and other metals;
the inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses; industry conditions,
including fluctuations in the price of the primary commodities
mined at such operations, fluctuations in foreign exchange rates
and fluctuations in interest rates; government entities
interpreting existing tax legislation or enacting new tax
legislation in a way which adversely affects Maverix; stock market
volatility; regulatory restrictions; liability, competition, loss
of key employees and other related risks and uncertainties.
Maverix undertakes no obligation to update forward-looking
information except as required by applicable law. Such
forward-looking information represents management's best judgment
based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary
materially. Accordingly, readers are advised not to place undue
reliance on forward-looking statements or information.
SOURCE Maverix Metals Inc.