May 6, 2025
Part of our series on:
🪙 Gold, Bitcoin, Commodities, Agriculture: Diversification Is Key—But How Much and Where?

🏴☠️ This Triple Flag Doesn’t Fly Red

Triple Flag Precious Metals Corp. isn’t just another mining stock. It's a streaming and royalty powerhouse, offering investors exposure to precious metals without the muddy boots. Think: cash flows without shovels. 💡

• Global presence: Operations across Australia, Canada, Colombia, Mongolia, Peru, South Africa, and the U.S.

• Founded: 2016

• Headquarters: Toronto, Canada

• Top shareholder: Hedge fund legend Paul Singer’s Elliott Investment Management 🧠 (For more on him, check this out.) (For more on his portfolio, check this out.)

📈 Q1 2025: Record Results and Golden Guidance

Triple Flag recently released a gold-plated quarterly report:

• Revenue: $82.2M (up from $57.5M)

• Operating cash flow: $65.9M (up from $38.9M)

• Adjusted EBITDA: $70.7M

• Cash flow per share: $0.33 (+74% YoY)

• Asset margin: 93% 🤑

CEO Sheldon Vanderkooy called it “a record start to the year”—and he’s not bluffing. 🎯

🛠️ The Business Model: Streamlined and Profitable

Forget gold mines and pickaxes. This model shines on its own:

• Low-cost, high-margin: Minimal exposure to operating costs

• Long-term upside: Life-of-mine exposure, with potential from future exploration

• Diversification: By mine, region, and operator

• Sustainable dividends: Strong, steady free cash flow 💸

• No direct mining: Just pure royalty and streaming exposure

🧾 GEO Breakdown (Gold Equivalent Ounces)

Gold and Silver Rule the Roost:

🌍 Strategic Moves: Acquisitions and More

• Orogen Royalties (Expanded Silicon, Nevada): 1% NSR royalty on a top-tier gold project

• Arcata & Azuca (Peru): 5% gold/silver streams, $35M

• Tres Quebradas (Argentina): Lithium royalty added

• Share buybacks: 692,600 shares repurchased ($11.3M)

💚 ESG Gold Star

• Ranked #1 in ESG Risk Ratings by Morningstar Sustainalytics in its sector

• In the top 100 globally across 15,000+ companies 🌱

💵 Dividend and Valuation

• Quarterly dividend: $0.055/share

• Yield: ~1%

• Current P/E: 59.57

• Forward P/E: 27.40

Not cheap. But maybe… justifiably golden?

🧠 Who's at the Helm?

CEO Sheldon Vanderkooy is:

• A founding team member

• Former CFO and General Counsel

• A former Chartered Accountant

• A current World Gold Council director

• And possibly your next favorite gold bug 🪙

📌 Final Thoughts

✅ Profitable
✅ Growing
✅ Diversified
✅ ESG superstar
✅ CEO knows his stuff
✅ Backed by Paul Singer

What’s not to like? Unless you only invest in crypto or chaos, this one’s worth a peek.