Record GEOs and Financial Performance
Triple Flag achieved a record quarter in Q3 2025 with 27,000 GEOs, record adjusted EBITDA of $79 million, and record operating cash flow per share of USD 0.39. Operating cash flow per share increased by over 25% year-over-year.
Strong Balance Sheet and Liquidity
The company exited the quarter with essentially zero net debt and is in a net cash position, with total liquidity available of nearly $1 billion.
Strategic Investments
Triple Flag has deployed over $350 million of capital over 5 investments, including acquisitions in Argentina, Peru, Arizona, and Chile, which have either started production or are on track.
Positive Market Environment
Triple Flag benefited from record quarterly average prices of nearly $3,500 per ounce for gold and nearly $40 per ounce for silver.
Royalty Acquisitions
Completed the acquisition of a 1% NSR royalty on the Arthur project in Nevada and a royalty package on Minera Florida gold mine in Chile for $23 million.
Positive Outlook
Triple Flag is targeting GEOs between 135,000 to 145,000 by 2029, driven by ramp-ups and new additions like Arcata, Johnson Camp, and Minera Florida.