Franco-Nevada reports record adjusted net income in 2022, says Cobre Panama resumed normal operations gold silver FrancoNevada
- Franco-Nevada reported today that the company earned record 729,960 gold equivalent ounces in 2022.
Importantly, Franco-Nevada noted that First Quantum has received authorization from the Panama Maritime Authority and concentrate loading operations at the Punta Rincón port have resumed. For 2023, the company expects GEO sales from its Precious Metal assets to range between 490,000 and 530,000 GEOs, consistent with 2022, but anticipate total GEOs sales to be between 640,000 and 700,000 GEOs, a reduction from 2022 primarily based on lower assumed oil and gas prices.
“Franco-Nevada is reporting strong fourth quarter and annual results for 2022. Our Diversified assets outperformed due to elevated energy prices in the year,” stated CEO Paul Brink."We are pleased that First Quantum and the Government of Panama have agreed on terms for a refreshed concession contract and look forward to Cobre Panama achieving its expanded throughput capacity later this year.”
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