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Osisko Gold Royalties' (OR) CEO Sean Roosen on Q1 2018 Results - Earnings Call Transcript

May 07, 2018 6:13 PM ETOsisko Gold Royalties Ltd (OR), OR:CA
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Osisko Gold Royalties (NYSE:OR) Q1 2018 Earnings Conference Call May 4, 2018 10:00 AM ET


Sean Roosen - Chairman and CEO

Elif Lévesque - CFO and VP, Finance


Kerry Smith - Haywood Securities

Carey MacRury - Canaccord Genuity

Dan Rollins - RBC Capital Markets

Mike Jalonen - Bank of America


Good morning, ladies and gentlemen, and welcome to the Osisko Gold Royalties Q1 2018 Results Conference Call. [Operator Instructions]. Please note that this call is being recorded today, May 4, 2018 at 10:00 AM Eastern Time. Today on the call we have Mr. Sean Roosen, Chair of the Board of Directors and Chief Executive Officer of Osisko Gold Royalties; and Mr. Bryan Coates, President of Osisko Gold Royalties.

I would now like to turn the meeting over to our host for today's call, Mr. Sean Roosen.

Sean Roosen

Welcome everybody to the first quarter conference call of our financial results for the first quarter of 2018. We're going to be following the PowerPoint that's found on our website called Q1 Results. There is a disclaimer page on the front of this PowerPoint. We will be making forward-looking statements, and I would refer you to that statement to -- for the disclaimers required.

So, we want to start the call today a little bit different than usual. Given that our friends from Barkerville have published their main resource yesterday, the best question of the day will be receiving a pair of Barkerville gold cuff links. So on to the main event. For the first quarter of the year, we had 20,000 ounces of GEOs, gold equivalent ounces, which fits in with our annual guidance of 77,000 to 80,000 ounces of GEOs. Cash operating margins were at 91%, the highest in the Precious Metal sector. And we generated $29.5 million of additional cash operating, and we also had from our off-take agreements

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