Orogen Royalties Reports Record Financial Year for 2024

Orogen Royalties Inc. has announced an impressive financial performance for the fiscal year ending December 31, 2024. The company reported a net income from operations of $4.3 million, marking a significant increase of 126% from the previous year. However, the net comprehensive income, which includes tax expenses, recorded a slight decline of 13% year-on-year, settling at $2.6 million or $0.01 per share.

Royalty revenue reached $7.9 million, a record high fueled by increased gold equivalent ounces sold and a rise in the average gold price. Despite a 54% decline in net income from prospect generation activities, the company managed to decrease general and administrative expenses by 16%. Cash flow from operations showed a remarkable growth of 73%, totaling $3.8 million.

Orogen is bolstered by $26.8 million in working capital and remains debt-free. The recent agreement with Triple Flag Precious Metals, valued at $421 million, aims to enhance the company's exploration and royalty operations.