Maverix Metals Inc (CVE:MMX, OTCMKTS:MACIF) rose Wednesday after reporting record production and revenue in the third quarter.
The Vancouver-based precious-metals royalty company said revenue more than doubled to C$9.8 million in the three months ended September 30 from a year earlier. It reported a record 6,195 ounces of attributable gold equivalent sold.
Highlights for Maverix included the discovery by RNC Minerals (TSE:RNX, OTCMKTS:RNKLF) of the Father's Day Vein at the Beta Hunt Mine in Australia, where RNC expects 27,000 to 30,000 ounces of gold.
"Maverix continues to have a strong 2018 with yet another record quarter for both production and revenue," Maverix CEO Dan O'Flaherty said in a statement. "A number of our assets had positive news this quarter, highlighted by RNC Minerals' discovery.”
Shares of Maverix climbed C$0.01, or 0.4%, to C$2.45 in midafternoon Canadian trading. They rose $0.03, or 1.9%, to $1.84 on the OTC market.
The company reported adjusted net income of C$1.3 million, and its comprehensive loss narrowed to C$1.2 million from C$4.5 million.
–This story has been updated to give the latest stock prices.
Contact Dennis Fitzgerald at [email protected] investors.com