COMPANY PROFILE
"A pure play, precious metals-focused, royalty and streaming company"
Summary
Triple Flag is a pure play, precious-metals-focused streaming and royalty company. We offer bespoke financing solutions to the metals and mining industry with exposure primarily to gold and silver in the Americas and Australia, with a total of 235 assets, including 15 streams and 220 royalties. These investments are tied to mining assets at various stages of the mine life cycle, including 32 producing mines and 203 development and exploration stage projects, and other assets. Triple Flag is listed on the Toronto Stock Exchange and New York Stock Exchange, under the ticker “TFPM”.
Mission
Our Mission is to be a preferred funding partner to mining companies throughout the commodity cycle by providing customized streaming and royalty financing, while offering value beyond capital as partners via our networks, capabilities and sustainability support.
Portfolio Overview
Corporate Videos
Main Leadership
· Shaun Usmar, Founder, Chief Executive Officer and Director
Shaun is an international mining executive with over 30 years of experience working around the globe in operational, financial and executive leadership roles in some of the world’s largest and fastest growing mining companies. Prior to founding Triple Flag, Shaun served as Senior Executive Vice President and Chief Financial Officer of Barrick Gold Corporation, from 2014 to 2016, where he helped restructure the company.
He joined Xstrata in 2002 as an early senior executive member of the management team that grew the company into one of the world’s largest diversified miners at the time of its acquisition by Glencore in 2013. His roles at Xstrata included General Manager of Business Development in London, Chief Financial Officer of Xstrata’s global Ferro-Alloys business in South Africa, and Chief Financial Officer of Xstrata’s global Nickel business in Canada. Prior to joining Xstrata, Shaun worked at BHP Billiton in Corporate Finance in London, and started his mining career in operations in the steel and aluminum industries as a production engineer. Mr. Usmar is the Chair of Make-A-Wish Canada, as well as Chair of the Audit Committee and a director for the World Gold Council, and serves as an independent director for Alamos Gold Inc.
He holds a Bachelor of Science in Metallurgy and Materials Engineering from the University of Witwatersrand in South Africa, and an MBA from the Kellogg Graduate School of Management at Northwestern University, both with distinction. · Sheldon Vanderkooy, Chief Financial Officer
Sheldon is a founding member of the Triple Flag management team, with 20+ years of experience in the mining sector. Prior to Triple Flag, he was Assistant General Counsel at First Quantum Minerals Ltd. and Senior Director, Legal Affairs at Inmet Mining Corporation. Prior to joining Inmet, he was a corporate partner at Blake, Cassels & Graydon LLP in Toronto, Canada. Prior to starting his corporate practice, Sheldon began his legal career practicing tax law at Blakes.
Sheldon holds a law degree from the University of Western Ontario (Gold Medalist) and Bachelor of Commerce (Honours) from Queen’s University, both in Canada. Prior to attending law school, Sheldon was a Chartered Accountant at Ernst & Young LLP. · James Dendle, Senior Vice President, Corporate Development
James is a passionate and dedicated mining and metals professional who joined Triple Flag in 2017 after having advised Triple Flag in a technical capacity since its inception. A resource geologist by training, with a multi-disciplinary technical background, James heads corporate development. Prior to joining Triple Flag, James consulted to a wide range of mining companies, financial institutions, and private equity groups providing technical and financial evaluation expertise, primarily in base and precious metals, globally.
James holds a Bachelor of Science in Applied Geology (1st Class Honours) and a Master of Science in Mining Geology (Distinction) from the University of Exeter, Camborne School of Mines in the UK, and is a Chartered Geologist of the Geological Society of London. · Eban Bari, Vice President, Finance
· Katy Board, Vice President, Talent & ESG
· David Lee, Vice President, Investor Relations
· Andrew McLarty, Vice President, Corporate Development
Business Model
Streaming and royalty financing can offer investors many advantages as an investment vehicle for commodities relative to mining companies, as outlined below. It also has advantages to mining companies as a patient, non-dilutive form of capital that requires no payments until the underlying mine is in production, mitigating risk.
Streaming & Royalty Model:
- Limited exposure to operating and capital costs with strong cash margins:
All of Triple Flag’s royalties are revenue-based and our stream agreements have low ongoing cash payments, generating strong cash margins
- Long-term upside exposure to exploration success, mine life extensions, and operational expansions:
All of Triple Flag’s royalties and streams provide life-of-mine exposure
- Further upside potential through underlying development/exploration projects:
Long-term upside exposure is enhanced by our streams and royalties on development-stage projects
- Robust and relatively stable free cash flow allows for a sustainable dividend policy and funding of new investments:
Strong cash margins and limited exposure to operating and capital costs of underlying mines results in more predictable free cash flow
- Greater diversification compared to mining companies:
Enhanced diversification by mine, jurisdiction, and operator reduces risk
- Committed to pure play streaming and royalty model:
For all of the benefits stated above, our strategy is focused on sticking to the proven model and does not include making standalone equity investments in mining assets or companies
Additional Resources
