Kestrel Q2 income ahead of expectations
Kestrel Q2 royalty income of US$26.6m exceeded expectations on 1.3Mt saleable volumes.
vs expectations: ahead
- Kestrel Q2 royalty income US$26.6m
- Q2 saleable volumes 1.3Mt
- H1 royalty income US$40.8m
- H1 saleable volumes 2.0Mt
- FY 2023 volumes 1.6Mt
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Ecora Resources PLC (LSE/TSX: ECOR) issues the following update on the Kestrel Q2 portfolio contribution ahead of its Q2 Trading Update to be published on 24 July 2024.
Ecora has been notified that the saleable volumes within its private royalty area during Q2 2024 were materially ahead of expectations at 1.3Mt, driving Kestrel royalty income of US$26.6m. Consequently, the H1 volumes and portfolio contribution from Kestrel were also ahead of expectations at 2.0Mt and US$40.8m respectively.
Saleable production volumes within the Group's private royalty area in H1 were, therefore, already at the top end of guidance for the FY 2024, which had anticipated a 15-25% increase on FY 2023 volumes of 1.6Mt. At this stage, whilst we are working to understand the potential implications for volumes in H2, we are not expecting to update FY volume guidance and, as per previous guidance, we expect minimal volumes in H2.
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