TFPM Triple Flag Precious Metals Corporation

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of January 2025

 

Commission File Number: 001-41484

 

 

TRIPLE FLAG PRECIOUS METALS CORP.

(Translation of the registrant’s name into English)

 

 

TD Canada Trust Tower, 161 Bay Street, Suite 4535, Toronto, Ontario, Canada M5J 2S1

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ¨            Form 40-F  x

 

Exhibits 99.1 of this Form 6-K are incorporated by reference into Triple Flag Precious Metals Corp.’s registration statements on Form F-10 (File No. 333-279789) and Form S-8 (File No. 333-267209).

 

 

 

The following document, which is attached as an exhibit hereto, is incorporated by reference herein:

 

Exhibit		Title
99.1		News release dated January 15, 2025

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	TRIPLE FLAG PRECIOUS METALS CORP.
Date: January 15, 2025	By:	/s/ C. Warren Beil
		Name: C. Warren Beil
		Title: General Counsel

 

 

 

Exhibit 99.1

 

 

NEWS RELEASE

 

Toronto, January 15, 2025

 

Triple Flag Delivers Record GEOs Sales for the Eighth Consecutive Year and Achieves Upper Half of 2024 GEOs Sales Guidance

 

Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, NYSE: TFPM) announced quarterly revenue of US$74.2 million for the fourth quarter of 2024 and annual revenue of US$269.0 million for full year 2024. These results represent metal sales of 27,864 gold equivalent ounces¹ (“GEOs”) for the fourth quarter of 2024 and 112,623 GEOs for full year 2024, within the upper half of guidance. All dollar amounts are expressed in US dollars.

 

“Triple Flag has achieved an eighth consecutive annual GEOs sales record, representing a compound annual growth rate of approximately 20% since 2017,” commented Sheldon Vanderkooy, CEO. “We have achieved the upper half of GEOs sales guidance for 2024, driven by higher gold grades at Northparkes and strong silver deliveries from Cerro Lindo, while key growth projects reached major milestones towards the path to production including Koné, Eskay Creek and Hope Bay. I am exceptionally pleased that Triple Flag increased its revenues in 2024 by over 30% year-over-year while reducing its issued and outstanding shares, driving higher value per share. Triple Flag’s shareholders are benefiting from record GEOs as well as record gold and silver prices. Triple Flag remains well-positioned to continue creating shareholder value in 2025 and beyond.”

 

Preliminary FY2024 and Q4 2024 GEOs Sales and Revenue

 

GEOs Sold and Revenue by Commodity²

 

		FY2024								FY2023
		GEOs Sold				Revenue ($M)				GEOs Sold				Revenue ($M)
Gold			70,774				169.0				61,251				119.0
Silver			40,862				97.7				38,983				75.5
Other			987				2.3				4,853				9.5
Total			112,623				269.0				105,087				204.0

 

			Q4 2024								Q4 2023
			GEOs Sold				Revenue ($M)				GEOs Sold				Revenue ($M)
Gold			17,272				46.0				14,997				29.5
Silver			10,381				27.6				9,883				19.5
Other			211				0.6				1,363				2.7
Total			27,864				74.2				26,243				51.7

 

 

Conference Call Details

 

Triple Flag will release its Q4 2024 results on Wednesday, February 19, 2025, after market close. A conference call and live webcast presentation will be held the following day, February 20, 2025, starting at 9:00 a.m. ET (6:00 a.m. PT) to discuss these results. The live webcast can be accessed by visiting the Events and Presentations page on the Company’s website at: www.tripleflagpm.com. An archived version of the webcast will be available on the website for one year following the webcast.

 

Live Webcast:	https://events.q4inc.com/attendee/426306225
Dial-In Details:	Toll-Free (U.S. & Canada): +1 (888) 330-2384 International: +1 (647) 800-3739 Conference ID: 4548984, followed by # key
Replay (Until March 6):	Toll-Free (U.S. & Canada): +1 (800) 770-2030 International: +1 (647) 362-9199 Conference ID: 4548984, followed by # key

 

 

About Triple Flag Precious Metals

 

Triple Flag is a precious metals streaming and royalty company. We offer financing solutions to the metals and mining industry with exposure primarily to gold and silver in the Americas and Australia, with a total of 235 assets, including 16 streams and 219 royalties. These investments are tied to mining assets at various stages of the mine life cycle, including 30 producing mines and 205 development and exploration stage projects, and other assets. Triple Flag is listed on the Toronto Stock Exchange and New York Stock Exchange, under the ticker “TFPM”.

 

Contact Information

 

Investor Relations:

David Lee

Vice President, Investor Relations

Tel: +1 (416) 304-9770

Email: ir@tripleflagpm.com

 

Media:

Gordon Poole, Camarco

Tel: +44 (0) 7730 567 938

Email: tripleflag@camarco.co.uk

 

 

Forward-Looking Information

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, respectively (collectively referred to herein as “forward-looking information”). Forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”, “prospects”, “strategy”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or terminology which states that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or “be achieved”. Forward-looking information in this news release include, but are not limited to, statements with respect to the Company’s preliminary sales and revenue information for the fourth quarter of 2024, the release of its financial results for the fourth quarter of 2024 and the conduct of the conference call to discuss said results. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding possible future events or circumstances.

 

The forward-looking information included in this news release is based on our opinions, estimates and assumptions considering our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. The forward-looking information contained in this news release is also based upon a number of assumptions, including the ongoing operation of the properties in which we hold a stream or royalty interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; and the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production. These assumptions include, but are not limited to, the following: assumptions in respect of current and future market conditions and the execution of our business strategies, that operations, or ramp-up where applicable, at properties in which we hold a royalty, stream or other interest, continue without further interruption through the period, and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated, intended or implied. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Forward-looking information is also subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but are not limited to, those set forth under the caption “Risk Factors” in our most recently filed annual information form which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. For clarity, mineral resources that are not mineral reserves do not have demonstrated economic viability and inferred resources are considered too geologically speculative for the application of economic considerations.

 

Although we have attempted to identify important risk factors that could cause actual results or future events to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this news release represents our expectations as of the date of this news release and is subject to change after such date. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.

 

 

Cautionary Statement to U.S. Investors

 

Information contained or referenced in this press release or in the documents referenced herein concerning the properties, technical information and operations of Triple Flag has been prepared in accordance with requirements and standards under Canadian securities laws, which differ from the requirements of the U.S. Securities and Exchange Commission (“SEC”) under subpart 1300 of Regulation S-K (“S-K 1300”). Because the Company is eligible for the Multijurisdictional Disclosure System adopted by the SEC and Canadian Securities Administrators, Triple Flag is not required to present disclosure regarding its mineral properties in compliance with S-K 1300. Accordingly, certain information contained in this press release may not be comparable to similar information made public by US companies subject to reporting and disclosure requirements of the SEC.

 

Technical and Third-Party Information:

 

Triple Flag does not own, develop or mine the underlying properties on which it holds stream or royalty interests. As a royalty or stream holder, Triple Flag has limited, if any, access to properties included in its asset portfolio. As a result, Triple Flag is dependent on the owners or operators of the properties and their qualified persons to provide information to Triple Flag and on publicly available information to prepare disclosure pertaining to properties and operations on the properties on which Triple Flag holds stream, royalty, or other similar interests. Triple Flag generally has limited or no ability to independently verify such information. Although Triple Flag does not believe that such information is inaccurate or incomplete in any material respect, there can be no assurance that such third-party information is complete or accurate.

 

 

¹ Gold Equivalent Ounces (“GEOs”)

 

GEOs are a non-IFRS measure that is based on stream and royalty interests and calculated on a quarterly basis by dividing all revenue from such interests for the quarter by the average gold price during such quarter. The gold price is determined based on the LBMA PM fix. For periods longer than one quarter, GEOs are summed for each quarter in the period. Management uses this measure internally to evaluate our underlying operating performance across our stream and royalty portfolio for the reporting periods presented and to assist with the planning and forecasting of future operating results. GEOs are intended to provide additional information only and do not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The measures are not necessarily indicative of gross profit or operating cash flow as determined under IFRS. Other companies may calculate these measures differently. The following table reconciles GEOs to revenue, the most directly comparable IFRS measure.

 

($ millions, except average gold price and GEOs information)		Q4 2024				Q3 2024				Q2 2024				Q1 2024				FY 2024
Revenue			74.2				73.7				63.6				57.5
Average gold price per ounce			2,663				2,474				2,338				2,070
GEOs			27,864				29,773				27,192				27,794				112,623

 

($ millions, except average gold price and GEOs information)		Q4 2023				Q3 2023				Q2 2023				Q1 2023				FY 2023
Revenue			51.7				49.4				52.6				50.3
Average gold price per ounce			1,971				1,928				1,976				1,890
GEOs			26,243				25,629				26,616				26,599				105,087

 

² Results are unaudited.

 

 

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