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000023a4ffcad84c6568c7572049a7f2a066681f68df707d27c50c0ac5bd42d6-0
hf://datasets/artefactory/Argimi-Ardian-Finance-10k-text-image@d019db455ff58bc14cae72422c4fc3ef0c301ea7/data/00/document-000023a4ffcad84c6568c7572049a7f2a066681f68df707d27c50c0ac5bd42d6.tar.gz
TRIPLE FLAG PRECIOUS METALS 2022 ANNUAL REPORT ANNUAL REPORT
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000023a4ffcad84c6568c7572049a7f2a066681f68df707d27c50c0ac5bd42d6-1
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TABLE OF CONTENTS - 1 Letter from the CEO - 3 Vision, Mission and Strategy - 4 Financial Highlights - 6 Sustainability - 12 Our Asset Portfolio - 14 Producing Streams and Royalties - 16 Our Team - 18 Board of Directors - 20 Financial Report
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000023a4ffcad84c6568c7572049a7f2a066681f68df707d27c50c0ac5bd42d6-2
hf://datasets/artefactory/Argimi-Ardian-Finance-10k-text-image@d019db455ff58bc14cae72422c4fc3ef0c301ea7/data/00/document-000023a4ffcad84c6568c7572049a7f2a066681f68df707d27c50c0ac5bd42d6.tar.gz
LETTER FROM THE CEO DEAR FELLOW SHAREHOLDERS, I am pleased to share with you our annual report and year-end review for 2022 – our first full year as a publicly listed company. During a year where the global economic and geopolitical backdrop offered headwinds and extreme uncertainty for investors, Triple Flag with our disciplined application of the streaming and royalty business model demonstrated the inflation-resistant, high-margin virtues as a resilient store of value. Our high-margin, diversified portfolio exposure to top-line revenue growth resisted the margin compression associated with operating and capital cost escalation that dominated mining sector financial results over this period. For Triple Flag, it was a year of new records, disciplined and valuable deal making, top-ranked ESG performance, and the achievement of important new milestones as a relatively newly listed mining company. I'm proud of and grateful for the high-performing team and Board who made it all possible. ANOTHER YEAR OF RECORD PERFORMANCE AND MILESTONES During the year we continued our track record of growing value per share. 2022 was our sixth consecutive year of GEOs growth, reaching 84.6 koz in GEO sales. We also increased our dividend by 5% to US$0.20 per share, offering the highest dividend yield amongst our peers. These were amongst the factors that contributed to us having the top performing royalty and streaming company share price in 2022, while outperforming all metal prices and indices in a difficult financial market; Triple Flag's share price increased by 15.4% compared to our peer average of (2.1%), the gold price of (0.1%), silver price of 2.9%, and S&P 500 of (19.4%). Our most notable transaction, however, was our acquisition of Maverix Metals Inc. for US$606 million, which we announced in November 2022 and closed subsequent to year-end. This transaction, the largest in our history, creates the world's leading gold-focused emerging senior streaming and royalty company, bringing together two complementary portfolios in a compelling combination. Triple Flag's portfolio, with a strategic emphasis on larger, cash-generating assets, with more than 90% by NAV associated with producing mines, is complemented by Maverix's highly diversified portfolio of 148 royalties and streams, with paying assets equating to around 60% of NAV. The combination builds on Triple Flag's 21% compound annual growth rate in GEOs over the past five years, increasing from 84.6 koz in 2022 by around 27% in 2023 and continuing to an expected average of over 140 koz over the following five years, before factoring in the additional organic growth potential from the significant portfolio of exploration and development stage assets. Importantly, when considering future risk and cost to this outlook, this embedded growth is essentially fully funded and dominated by producing or ramping assets, underpinned by reserves with no permitting risks. We believe that the combined company will benefit from the improved trading liquidity and strong cash flows of the resulting high-margin, high-growth, inflation-resilient, and diversified portfolio, and have already experienced a ten-fold increase in daily trading volumes since the transaction closed in late January. On October 21, 2022, our team traveled to New York City to ring the opening bell at the New York Stock Exchange, commemorating our recent listing during August 2022. This was a considerable milestone as it opened the door for new investors in Triple Flag, broadening our investor base and growing liquidity in our stock. Our inclusion in the GDXJ index, following the closing of the Maverix transaction, was another welcome milestone. GROWING VALUE THROUGH ACCRETIVE ACQUISITIONS 2022 was another banner year for the growth of Triple Flag's portfolio. We entered into definitive agreements for the acquisition of the previously announced A$10 million gross revenue return and US$80 million gold and silver stream on the brownfield Prieska Copper-Zinc Mine with Orion Minerals Ltd. Prieska offers the potential for long-duration, low-cost copper production that will provide Triple Flag's shareholders with exposure to a high-margin precious metals stream from byproduct production.
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" }, { "bbox": [ 0.09876961178249784, 0.6402343210547862, 0.4893960391773897, 0.6504956640378394 ], "ocr": false, "ocr_confidence": 1, "text": "On October 21, 2022, our team traveled to New York City to ring the " }, { "bbox": [ 0.09885784847284454, 0.6552002646706322, 0.48999906053730086, 0.6654616076536853 ], "ocr": false, "ocr_confidence": 1, "text": "opening bell at the New York Stock Exchange, commemorating our " }, { "bbox": [ 0.0994460785311032, 0.6701661697541825, 0.48939618877336094, 0.6804275127372357 ], "ocr": false, "ocr_confidence": 1, "text": "recent listing during August 2022. 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" }, { "bbox": [ 0.0984607895994498, 0.8078391335227273, 0.48969029445274204, 0.8181459446146031 ], "ocr": false, "ocr_confidence": 1, "text": "We entered into definitive agreements for the acquisition of the previ\u0002" }, { "bbox": [ 0.09885784847284454, 0.8228504874489525, 0.4889403199837878, 0.8331118496981534 ], "ocr": false, "ocr_confidence": 1, "text": "ously announced A$10 million gross revenue return and US$80 million " }, { "bbox": [ 0.09897549323786319, 0.8377709629559759, 0.4893961389080372, 0.8480777836809256 ], "ocr": false, "ocr_confidence": 1, "text": "gold and silver stream on the brownfield Prieska Copper-Zinc Mine " }, { "bbox": [ 0.09841667125427646, 0.8527482350667318, 0.4891035291883681, 0.8630436887644759 ], "ocr": false, "ocr_confidence": 1, "text": "with Orion Minerals Ltd. Prieska offers the potential for long-duration, " }, { "bbox": [ 0.09951961118411395, 0.8677482315988252, 0.4894256591796875, 0.8780095938480262 ], "ocr": false, "ocr_confidence": 1, "text": "low-cost copper production that will provide Triple Flag’s shareholders " }, { "bbox": [ 0.09841667125427646, 0.8826800452338326, 0.4896917904124541, 0.8929754989315766 ], "ocr": false, "ocr_confidence": 1, "text": "with exposure to a high-margin precious metals stream from byprod\u0002" }, { "bbox": [ 0.09931372972874859, 0.8976800513989999, 0.18238578746521394, 0.9078618637239091 ], "ocr": false, "ocr_confidence": 1, "text": "uct production. " }, { "bbox": [ 0.5103725358551624, 0.19777093752466068, 0.9013667885774101, 0.20798685093118688 ], "ocr": false, "ocr_confidence": 1, "text": "Our most notable transaction, however, was our acquisition of Maverix " }, { "bbox": [ 0.5107254826165493, 0.21273688114050665, 0.9016020531747856, 0.22229366109828758 ], "ocr": false, "ocr_confidence": 1, "text": "Metals Inc. for US$606 million, which we announced in November " }, { "bbox": [ 0.5104902180191738, 0.22773688730567396, 0.9012989717371324, 0.23797553476661146 ], "ocr": false, "ocr_confidence": 1, "text": "2022 and closed subsequent to year-end. This transaction, the lar\u0002" }, { "bbox": [ 0.5105784297768586, 0.24266869130760735, 0.9016020531747856, 0.25296413537227747 ], "ocr": false, "ocr_confidence": 1, "text": "gest in our history, creates the world’s leading gold-focused emerging " }, { "bbox": [ 0.510299034367979, 0.25766869747277465, 0.9012931873595793, 0.26793007898812343 ], "ocr": false, "ocr_confidence": 1, "text": "senior streaming and royalty company, bringing together two comple\u0002" }, { "bbox": [ 0.5110490088369333, 0.27260050147470805, 0.9007240245544833, 0.2828959455393782 ], "ocr": false, "ocr_confidence": 1, "text": "mentary portfolios in a compelling combination. Triple Flag’s portfolio, " }, { "bbox": [ 0.5100195890937755, 0.2876005076398753, 0.9009991814108456, 0.29786188915522416 ], "ocr": false, "ocr_confidence": 1, "text": "with a strategic emphasis on larger, cash-generating assets, with more " }, { "bbox": [ 0.5102107727449704, 0.3025664512557213, 0.9013667885774101, 0.3128278327710701 ], "ocr": false, "ocr_confidence": 1, "text": "than 90% by NAV associated with producing mines, is complemented " }, { "bbox": [ 0.5111225601894404, 0.3174870038273359, 0.900704976000817, 0.32779377638691604 ], "ocr": false, "ocr_confidence": 1, "text": "by Maverix’s highly diversified portfolio of 148 royalties and streams, " }, { "bbox": [ 0.5100195890937755, 0.33246427593809186, 0.900543212890625, 0.342759720002762 ], "ocr": false, "ocr_confidence": 1, "text": "with paying assets equating to around 60% of NAV. The combination " }, { "bbox": [ 0.5111225601894404, 0.3474642821032592, 0.9016035491344976, 0.3577256250863124 ], "ocr": false, "ocr_confidence": 1, "text": "builds on Triple Flag’s 21% compound annual growth rate in GEOs over " }, { "bbox": [ 0.5102107727449704, 0.3623847190779869, 0.900543212890625, 0.37269153016986273 ], "ocr": false, "ocr_confidence": 1, "text": "the past five years, increasing from 84.6 koz in 2022 by around 27% in " }, { "bbox": [ 0.5104902180191738, 0.37736202972103855, 0.9009990816801982, 0.3876574737857087 ], "ocr": false, "ocr_confidence": 1, "text": "2023 and continuing to an expected average of over 140 koz over the " }, { "bbox": [ 0.5103431153141595, 0.3923165677773832, 0.9005578732958027, 0.40262337886925903 ], "ocr": false, "ocr_confidence": 1, "text": "following five years, before factoring in the additional organic growth " }, { "bbox": [ 0.5110490088369333, 0.4072825113932292, 0.9015432120927799, 0.417589322485105 ], "ocr": false, "ocr_confidence": 1, "text": "potential from the significant portfolio of exploration and development " }, { "bbox": [ 0.510299034367979, 0.4222597835039852, 0.9010300979115605, 0.43255522756865533 ], "ocr": false, "ocr_confidence": 1, "text": "stage assets. Importantly, when considering future risk and cost to this " }, { "bbox": [ 0.510460797478171, 0.4372256885875355, 0.9012932870902267, 0.44752113265220567 ], "ocr": false, "ocr_confidence": 1, "text": "outlook, this embedded growth is essentially fully funded and domi\u0002" }, { "bbox": [ 0.5110490088369333, 0.45222569475270286, 0.9009990816801982, 0.46248703773575606 ], "ocr": false, "ocr_confidence": 1, "text": "nated by producing or ramping assets, underpinned by reserves with no " }, { "bbox": [ 0.5110489589716095, 0.4671915998362532, 0.9012946833192913, 0.4774529428193064 ], "ocr": false, "ocr_confidence": 1, "text": "permitting risks. We believe that the combined company will bene\u0002" }, { "bbox": [ 0.5103430654488358, 0.482032506152837, 0.9010005776399101, 0.4924188479028567 ], "ocr": false, "ocr_confidence": 1, "text": "fit from the improved trading liquidity and strong cash flows of the " }, { "bbox": [ 0.5110489589716095, 0.4969984112363873, 0.9013667885774101, 0.5073847529864071 ], "ocr": false, "ocr_confidence": 1, "text": "resulting high-margin, high-growth, inflation-resilient, and diversified " }, { "bbox": [ 0.5110489589716095, 0.5120552140052873, 0.9014991311465993, 0.5223279240155462 ], "ocr": false, "ocr_confidence": 1, "text": "portfolio, and have already experienced a ten-fold increase in daily " }, { "bbox": [ 0.5102107228796466, 0.5270552201704546, 0.8406460830588747, 0.5373165631535077 ], "ocr": false, "ocr_confidence": 1, "text": "trading volumes since the transaction closed in late January. " }, { "bbox": [ 0.6390454660054126, 0.055252537582859855, 0.8830572390088848, 0.061939432163431195 ], "ocr": false, "ocr_confidence": 1, "text": "TRIPLE FLAG 2022 ANNUAL REPORT " }, { "bbox": [ 0.9168104782603146, 0.04818687053641888, 0.9219280567044527, 0.06186868686868687 ], "ocr": false, "ocr_confidence": 1, "text": "1" } ]
[ { "bbox": [ 0.10474803400974649, 0.13304492680713384, 0.5729145723230699, 0.1608630864307134 ], "data": [], "index_in_doc": 15, "label": "section_header", "text": "LETTER FROM THE CEO" }, { "bbox": [ 0.09978415295968648, 0.19744264236604325, 0.32459057078642006, 0.20762449322324814 ], "data": [], "index_in_doc": 16, "label": "section_header", "text": "DEAR FELLOW SHAREHOLDERS," }, { "bbox": [ 0.09887225955140357, 0.2179477576053504, 0.4900003071703942, 0.2431864112314552 ], "data": [], "index_in_doc": 17, "label": "text", "text": "I am pleased to share with you our annual report and year-end review for 2022 – our first full year as a publicly listed company." }, { "bbox": [ 0.0984138725629819, 0.25548175850299876, 0.4907141791449653, 0.43034547747987695 ], "data": [], "index_in_doc": 18, "label": "text", "text": "During a year where the global economic and geopolitical backdrop offered headwinds and extreme uncertainty for investors, Triple Flag with our disciplined application of the streaming and royalty business model demonstrated the inflation-resistant, high-margin virtues as a resilient store of value. Our high-margin, diversified portfolio exposure to top-line revenue growth resisted the margin compression associated with operating and capital cost escalation that dominated mining sector financial results over this period. For Triple Flag, it was a year of new records, disciplined and valuable deal making, top-ranked ESG performance, and the achievement of important new milestones as a relatively newly listed mining company. I'm proud of and grateful for the high-performing team and Board who made it all possible." }, { "bbox": [ 0.09849739074707031, 0.44731641056561716, 0.4158273584702436, 0.47119333286478066 ], "data": [], "index_in_doc": 19, "label": "section_header", "text": "ANOTHER YEAR OF RECORD PERFORMANCE AND MILESTONES" }, { "bbox": [ 0.09841667125427646, 0.4829729638918482, 0.4900006063623366, 0.6274048005691683 ], "data": [], "index_in_doc": 20, "label": "text", "text": "During the year we continued our track record of growing value per share. 2022 was our sixth consecutive year of GEOs growth, reaching 84.6 koz in GEO sales. We also increased our dividend by 5% to US$0.20 per share, offering the highest dividend yield amongst our peers. These were amongst the factors that contributed to us having the top performing royalty and streaming company share price in 2022, while outperforming all metal prices and indices in a difficult financial market; Triple Flag's share price increased by 15.4% compared to our peer average of (2.1%), the gold price of (0.1%), silver price of 2.9%, and S&P 500 of (19.4%)." }, { "bbox": [ 0.5100195890937755, 0.19777093752466068, 0.9016035491344976, 0.5373165631535077 ], "data": [], "index_in_doc": 21, "label": "text", "text": "Our most notable transaction, however, was our acquisition of Maverix Metals Inc. for US$606 million, which we announced in November 2022 and closed subsequent to year-end. This transaction, the largest in our history, creates the world's leading gold-focused emerging senior streaming and royalty company, bringing together two complementary portfolios in a compelling combination. Triple Flag's portfolio, with a strategic emphasis on larger, cash-generating assets, with more than 90% by NAV associated with producing mines, is complemented by Maverix's highly diversified portfolio of 148 royalties and streams, with paying assets equating to around 60% of NAV. The combination builds on Triple Flag's 21% compound annual growth rate in GEOs over the past five years, increasing from 84.6 koz in 2022 by around 27% in 2023 and continuing to an expected average of over 140 koz over the following five years, before factoring in the additional organic growth potential from the significant portfolio of exploration and development stage assets. Importantly, when considering future risk and cost to this outlook, this embedded growth is essentially fully funded and dominated by producing or ramping assets, underpinned by reserves with no permitting risks. We believe that the combined company will benefit from the improved trading liquidity and strong cash flows of the resulting high-margin, high-growth, inflation-resilient, and diversified portfolio, and have already experienced a ten-fold increase in daily trading volumes since the transaction closed in late January." }, { "bbox": [ 0.09876961178249784, 0.6402343210547862, 0.4899991104026246, 0.7381775017940637 ], "data": [], "index_in_doc": 22, "label": "text", "text": "On October 21, 2022, our team traveled to New York City to ring the opening bell at the New York Stock Exchange, commemorating our recent listing during August 2022. This was a considerable milestone as it opened the door for new investors in Triple Flag, broadening our investor base and growing liquidity in our stock. Our inclusion in the GDXJ index, following the closing of the Maverix transaction, was another welcome milestone." }, { "bbox": [ 0.09849739074707031, 0.7572280421401516, 0.38813619675979116, 0.7835840938067196 ], "data": [], "index_in_doc": 23, "label": "section_header", "text": "GROWING VALUE THROUGH ACCRETIVE ACQUISITIONS" }, { "bbox": [ 0.09841667125427646, 0.7928845954663827, 0.4896917904124541, 0.9078618637239091 ], "data": [], "index_in_doc": 24, "label": "text", "text": "2022 was another banner year for the growth of Triple Flag's portfolio. We entered into definitive agreements for the acquisition of the previously announced A$10 million gross revenue return and US$80 million gold and silver stream on the brownfield Prieska Copper-Zinc Mine with Orion Minerals Ltd. Prieska offers the potential for long-duration, low-cost copper production that will provide Triple Flag's shareholders with exposure to a high-margin precious metals stream from byproduct production." }, { "bbox": [ 0.509160160239226, 0.5556992424858942, 0.902084450316585, 0.9240953079377763 ], "data": [], "index_in_doc": 25, "label": "picture", "text": "" } ]
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ESG EXCELLENCE Triple Flag's foundational commitment to substantive ESG practices as a capital provider to the mining sector, where good ESG practices are key to ensuring the miners' privilege to operate in their host communities, has been a consistent strategic feature of our track record of growth in value per share and helpful in securing new business opportunities opposite miners. Our focus in this area has been authentic, substantive, and pragmatic, ensuring we partner with miners who understand the importance of doing this well to ensure security of tenure of our contracts, being transparent in our approach in our disclosures, and making targeted investments as part of our underwriting of new deals to help our mining partners enhance their license to operate. We were pleased during 2022 to be recognized in several ways for our work in this area; we received our inaugural Sustainalytics rating, where we came in 4th place out of 114 global precious metal companies; we were a finalist in the Mines & Money ESG Program Innovation award; and were recognized as a ''Great Place to Work''. We continued to support our various partnership programs, which included the first Mongolian professional development program with our partners at Steppe Gold, awarding another seven scholarships to new students through our RBPlat bursary program, Northparkes bursary program and supplemental flood support, Ukrainian humanitarian relief, Mining Matters, Young Mining Professionals and Mining 4 Life in support of engaging the next generation of miners, UNGC and the Women Empowerment Principles, World Gold Council, and ESG Task Force participation. Finally, we have remained carbon neutral since inception of our business in 2016, offsetting our Scope 1, 2 and 3 emissions, and were certified by an independent third party. " For Triple Flag, it was a year of new records, disciplined and valuable deal making for our investors, top-ranked ESG performance, and the achievement of important new milestones as a relatively newly listed mining company. " OUTLOOK Triple Flag has established itself as the fourth-largest senior streaming and royalty company, one that is well positioned to continue increasing shareholder value through growth in our existing portfolio and through our characteristic disciplined deal making activities. We are well advanced in integrating the Maverix business, are on track with delivering the identified $7 million in annualized synergies, have more than $600 million in available funding capacity for new transactions in a busy deal environment, and are anticipating another record year for our business. The market for new financing opportunities is amongst the most promising we've encountered since we started the business in 2016, helped by the energy transition thematic and lack of reliable traditional funding sources for mining entrepreneurs. We will continue to remain discerning in our approach to capital allocation and investment decisions, aligning ourselves as significant equity holders in our own right with our shareholder base in creating value. As transformative as 2022 was for Triple Flag, we could not be more excited to see what the future holds for us and the possibilities that will arise in continuing to grow our business.
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Our focus in this area has been authentic, substantive, " }, { "bbox": [ 0.09874538970149421, 0.24387729529178506, 0.4898087744619332, 0.25413867680713387 ], "ocr": false, "ocr_confidence": 1, "text": "and pragmatic, ensuring we partner with miners who understand the " }, { "bbox": [ 0.09922098022660399, 0.2588090992937185, 0.4900906631369996, 0.26910454335838857 ], "ocr": false, "ocr_confidence": 1, "text": "importance of doing this well to ensure security of tenure of our con\u0002" }, { "bbox": [ 0.09850039513282527, 0.2737901475694445, 0.49039813272314137, 0.28405152908479325 ], "ocr": false, "ocr_confidence": 1, "text": "tracts, being transparent in our approach in our disclosures, and making " }, { "bbox": [ 0.09850039513282527, 0.2887220286359691, 0.4898102205563215, 0.2990174727006392 ], "ocr": false, "ocr_confidence": 1, "text": "targeted investments as part of our underwriting of new deals to help " }, { "bbox": [ 0.09874538970149421, 0.30372195773654515, 0.49016905142590894, 0.313983339251894 ], "ocr": false, "ocr_confidence": 1, "text": "our mining partners enhance their license to operate. We were pleased " }, { "bbox": [ 0.09874538970149421, 0.3186538388030698, 0.48981012082567404, 0.32894928286773994 ], "ocr": false, "ocr_confidence": 1, "text": "during 2022 to be recognized in several ways for our work in this area; we " }, { "bbox": [ 0.09932186400968265, 0.33365376790364587, 0.4898115170547386, 0.34391514941899465 ], "ocr": false, "ocr_confidence": 1, "text": "received our inaugural Sustainalytics rating, where we came in 4th place " }, { "bbox": [ 0.09874538970149421, 0.3485742434106692, 0.4898072785022212, 0.3588810930348406 ], "ocr": false, "ocr_confidence": 1, "text": "out of 114 global precious metal companies; we were a finalist in the " }, { "bbox": [ 0.09900480158188764, 0.36358561660304217, 0.48983605079401554, 0.3738469595860954 ], "ocr": false, "ocr_confidence": 1, "text": "Mines & Money ESG Program Innovation award; and were recognized as " }, { "bbox": [ 0.09874538970149421, 0.37855156021888814, 0.4898073283675449, 0.38873337254379736 ], "ocr": false, "ocr_confidence": 1, "text": "a ‘‘Great Place to Work’’. We continued to support our various partnership " }, { "bbox": [ 0.09932186400968265, 0.39347199719361586, 0.4903390921798407, 0.4037788082854917 ], "ocr": false, "ocr_confidence": 1, "text": "programs, which included the first Mongolian professional development " }, { "bbox": [ 0.09932186400968265, 0.4084833703859888, 0.4893604353362439, 0.418744713369042 ], "ocr": false, "ocr_confidence": 1, "text": "program with our partners at Steppe Gold, awarding another seven " }, { "bbox": [ 0.09858686160417944, 0.4234492754695392, 0.48951756097132865, 0.43371061845259234 ], "ocr": false, "ocr_confidence": 1, "text": "scholarships to new students through our RBPlat bursary program, " }, { "bbox": [ 0.09949480318555645, 0.438290181786123, 0.4900906631369996, 0.44867652353614274 ], "ocr": false, "ocr_confidence": 1, "text": "Northparkes bursary program and supplemental flood support, Ukrain\u0002" }, { "bbox": [ 0.09922098022660399, 0.4533015164462003, 0.4898374470230801, 0.46359696051087046 ], "ocr": false, "ocr_confidence": 1, "text": "ian humanitarian relief, Mining Matters, Young Mining Professionals " }, { "bbox": [ 0.09874538970149421, 0.46826742152975065, 0.48951900706571694, 0.4785628655944208 ], "ocr": false, "ocr_confidence": 1, "text": "and Mining 4 Life in support of engaging the next generation of miners, " }, { "bbox": [ 0.09917774699092691, 0.483267427694918, 0.48952040329478147, 0.4934492400198272 ], "ocr": false, "ocr_confidence": 1, "text": "UNGC and the Women Empowerment Principles, World Gold Council, " }, { "bbox": [ 0.09874538970149421, 0.4982333327784683, 0.4900906631369996, 0.5084719417071102 ], "ocr": false, "ocr_confidence": 1, "text": "and ESG Task Force participation. Finally, we have remained carbon neu\u0002" }, { "bbox": [ 0.09850039513282527, 0.5131499935882261, 0.48979291728898594, 0.5234454376528962 ], "ocr": false, "ocr_confidence": 1, "text": "tral since inception of our business in 2016, offsetting our Scope 1, 2 and 3 " }, { "bbox": [ 0.09874538970149421, 0.5281045316445707, 0.4242509829452614, 0.5383886086820352 ], "ocr": false, "ocr_confidence": 1, "text": "emissions, and were certified by an independent third party." }, { "bbox": [ 0.5108854505750868, 0.133554169625947, 0.5809180565129698, 0.14227765015881472 ], "ocr": false, "ocr_confidence": 1, "text": "OUTLOOK" }, { "bbox": [ 0.5104983959322662, 0.15405913073607166, 0.9024864645565258, 0.1643545748007418 ], "ocr": false, "ocr_confidence": 1, "text": "Triple Flag has established itself as the fourth-largest senior streaming " }, { "bbox": [ 0.510851342693653, 0.16905913690123897, 0.902174706552543, 0.17929778436217647 ], "ocr": false, "ocr_confidence": 1, "text": "and royalty company, one that is well positioned to continue increas\u0002" }, { "bbox": [ 0.511336632024229, 0.18399094090317236, 0.9022497039994384, 0.1942863849678425 ], "ocr": false, "ocr_confidence": 1, "text": "ing shareholder value through growth in our existing portfolio and " }, { "bbox": [ 0.5106013179604524, 0.19899094706833967, 0.9018863852507149, 0.20925232858368847 ], "ocr": false, "ocr_confidence": 1, "text": "through our characteristic disciplined deal making activities. We are " }, { "bbox": [ 0.5104101343092575, 0.2139568136195944, 0.9014392927581188, 0.2242181951349432 ], "ocr": false, "ocr_confidence": 1, "text": "well advanced in integrating the Maverix business, are on track with " }, { "bbox": [ 0.510851342693653, 0.228877366191209, 0.901889377170139, 0.23918413875078917 ], "ocr": false, "ocr_confidence": 1, "text": "delivering the identified $7 million in annualized synergies, have more " }, { "bbox": [ 0.5106013179604524, 0.24385456123737376, 0.9014304167304943, 0.2541500053020439 ], "ocr": false, "ocr_confidence": 1, "text": "than $600 million in available funding capacity for new transactions in " }, { "bbox": [ 0.510851342693653, 0.2588205048532197, 0.9024863648258783, 0.26911594891788987 ], "ocr": false, "ocr_confidence": 1, "text": "a busy deal environment, and are anticipating another record year for " }, { "bbox": [ 0.510851342693653, 0.2737750429095644, 0.902426127514808, 0.28408181546914457 ], "ocr": false, "ocr_confidence": 1, "text": "our business. 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" }, { "bbox": [ 0.510689579583461, 0.45370683766374686, 0.587438097187117, 0.461774999445135 ], "ocr": false, "ocr_confidence": 1, "text": "Shaun Usmar" }, { "bbox": [ 0.5116160274331086, 0.468525048458215, 0.5912483564389298, 0.4778546034687698 ], "ocr": false, "ocr_confidence": 1, "text": "Founder, Chief " }, { "bbox": [ 0.5116160274331086, 0.4834795479822641, 0.6038204517239839, 0.49167274706291436 ], "ocr": false, "ocr_confidence": 1, "text": "Executive Officer " }, { "bbox": [ 0.510851342693653, 0.49849092117463706, 0.579614576950572, 0.5066386521464646 ], "ocr": false, "ocr_confidence": 1, "text": "and Director" }, { "bbox": [ 0.084503267325607, 0.7143074575096671, 0.09449999940161612, 0.7218402901081125 ], "ocr": false, "ocr_confidence": 1, "text": "“" }, { "bbox": [ 0.09941470700930927, 0.7116912880329171, 0.43611080194610397, 0.7344943345195116 ], "ocr": false, "ocr_confidence": 1, "text": "For Triple Flag, it was a year " }, { "bbox": [ 0.09771535910812079, 0.739393311317521, 0.4314734764348448, 0.7620953261250198 ], "ocr": false, "ocr_confidence": 1, "text": "of new records, disciplined " }, { "bbox": [ 0.09771535910812079, 0.7672468435884727, 0.42150619606566586, 0.7900498900750671 ], "ocr": false, "ocr_confidence": 1, "text": "and valuable deal making " }, { "bbox": [ 0.09745392144895068, 0.7949488668730765, 0.45071854934193734, 0.8176508816805753 ], "ocr": false, "ocr_confidence": 1, "text": "for our investors, top-ranked " }, { "bbox": [ 0.09941470700930927, 0.8227266446508543, 0.4247709286758323, 0.845428669091427 ], "ocr": false, "ocr_confidence": 1, "text": "ESG performance, and the " }, { "bbox": [ 0.09771535910812079, 0.8505044224286321, 0.4262415069380617, 0.8732064468692048 ], "ocr": false, "ocr_confidence": 1, "text": "achievement of important " }, { "bbox": [ 0.09902254740397136, 0.8783579643326577, 0.4689538993087469, 0.9011104853466304 ], "ocr": false, "ocr_confidence": 1, "text": "new milestones as a relatively " }, { "bbox": [ 0.09902254740397136, 0.9061357421104355, 0.46264344259025225, 0.9289387693308822 ], "ocr": false, "ocr_confidence": 1, "text": "newly listed mining company." }, { "bbox": [ 0.46718712102353965, 0.9088478570032602, 0.47718382193372144, 0.9163806799686317 ], "ocr": false, "ocr_confidence": 1, "text": "”" }, { "bbox": [ 0.06788578532100503, 0.04827780675406408, 0.07953284768497243, 0.06186868686868687 ], "ocr": false, "ocr_confidence": 1, "text": "2 " }, { "bbox": [ 0.11588234994925704, 0.055252537582859855, 0.35989414788539115, 0.061939432163431195 ], "ocr": false, "ocr_confidence": 1, "text": "TRIPLE FLAG 2022 ANNUAL REPORT" } ]
[ { "bbox": [ 0.09968611150006064, 0.13356742473563762, 0.2194907743167254, 0.14226439504912405 ], "data": [], "index_in_doc": 26, "label": "section_header", "text": "ESG EXCELLENCE" }, { "bbox": [ 0.0983995113497466, 0.15405913073607166, 0.49039813272314137, 0.5383886086820352 ], "data": [], "index_in_doc": 27, "label": "text", "text": "Triple Flag's foundational commitment to substantive ESG practices as a capital provider to the mining sector, where good ESG practices are key to ensuring the miners' privilege to operate in their host communities, has been a consistent strategic feature of our track record of growth in value per share and helpful in securing new business opportunities opposite miners. Our focus in this area has been authentic, substantive, and pragmatic, ensuring we partner with miners who understand the importance of doing this well to ensure security of tenure of our contracts, being transparent in our approach in our disclosures, and making targeted investments as part of our underwriting of new deals to help our mining partners enhance their license to operate. We were pleased during 2022 to be recognized in several ways for our work in this area; we received our inaugural Sustainalytics rating, where we came in 4th place out of 114 global precious metal companies; we were a finalist in the Mines & Money ESG Program Innovation award; and were recognized as a ''Great Place to Work''. We continued to support our various partnership programs, which included the first Mongolian professional development program with our partners at Steppe Gold, awarding another seven scholarships to new students through our RBPlat bursary program, Northparkes bursary program and supplemental flood support, Ukrainian humanitarian relief, Mining Matters, Young Mining Professionals and Mining 4 Life in support of engaging the next generation of miners, UNGC and the Women Empowerment Principles, World Gold Council, and ESG Task Force participation. Finally, we have remained carbon neutral since inception of our business in 2016, offsetting our Scope 1, 2 and 3 emissions, and were certified by an independent third party." }, { "bbox": [ 0.084503267325607, 0.7116912880329171, 0.47718382193372144, 0.9289387693308822 ], "data": [], "index_in_doc": 28, "label": "text", "text": "\" For Triple Flag, it was a year of new records, disciplined and valuable deal making for our investors, top-ranked ESG performance, and the achievement of important new milestones as a relatively newly listed mining company. \"" }, { "bbox": [ 0.5108854505750868, 0.133554169625947, 0.5809180565129698, 0.14227765015881472 ], "data": [], "index_in_doc": 29, "label": "section_header", "text": "OUTLOOK" }, { "bbox": [ 0.5104101343092575, 0.15405913073607166, 0.9024864645565258, 0.41877503828568896 ], "data": [], "index_in_doc": 30, "label": "text", "text": "Triple Flag has established itself as the fourth-largest senior streaming and royalty company, one that is well positioned to continue increasing shareholder value through growth in our existing portfolio and through our characteristic disciplined deal making activities. We are well advanced in integrating the Maverix business, are on track with delivering the identified $7 million in annualized synergies, have more than $600 million in available funding capacity for new transactions in a busy deal environment, and are anticipating another record year for our business. The market for new financing opportunities is amongst the most promising we've encountered since we started the business in 2016, helped by the energy transition thematic and lack of reliable traditional funding sources for mining entrepreneurs. We will continue to remain discerning in our approach to capital allocation and investment decisions, aligning ourselves as significant equity holders in our own right with our shareholder base in creating value. As transformative as 2022 was for Triple Flag, we could not be more excited to see what the future holds for us and the possibilities that will arise in continuing to grow our business." }, { "bbox": [ 0.5182193431978912, 0.4388486303464331, 0.9583228616153493, 1 ], "data": [], "index_in_doc": 31, "label": "picture", "text": "" } ]
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VISION, MISSION AND STRATEGY Vision Strategy To be a leading global sustainable precious metals investment. Mission 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. Our strategy is to grow our portfolio and value per share through ongoing investments in primarily precious metals streams and royalties with a prioritization on sustainability and maintaining our carbon neutrality. Our focus is on: Supporting our partners' strategic priorities and sustainability initiatives by offering proactive streaming and royalty funding that is tailored to enable their individual needs, while also providing financial support to strengthen their sustainability programs and enhance their privilege to operate with their host communities and work force. Delivering growth by: - · Utilizing our deep experience and networks across all aspects of the mining industry, which yields more opportunity for bilateral deals rather than narrow competitive processes - · Offering our partners value beyond capital via our sustainability programs and using our knowledge and experience to provide continued support and insight to help them maximize value - · Capturing the available synergies between our long-term focus and investment horizon and the lengthy timelines for exploration and development in the mining sector - · Unlocking the value arbitrage on offer from base metals mines with non-core precious metals byproducts that can be streamed and are more valuable within a precious metals company Generating attractive returns for our shareholders by: - · Building a portfolio of investments in cash-generating mines and construction-ready, fully permitted projects, balanced by prudent investments across earlier stages of the mine life cycle to offer investors exposure to ongoing growth across multiple time horizons - · Growing cash flow per share over the long term - · Offering growing exposure to precious metals ounces backed by robust cash yields, a good dividend and attractive returns - · Hiring exceptional talent that aligns with our values and culture, enabling us to secure and execute on the best deal opportunities available - · Employing a lean, highly capable and engaged team that draws on specialized skills from our external global network to optimize due diligence effectiveness while controlling G&A expenses - · Managing risk through our due diligence, ongoing portfolio optimization activities and investment processes - · Maintaining our status as a sustainable, carbon neutral company while giving back to host communities with investments in social programs - · Aligning management and shareholder interests via our team's significant ownership position in Triple Flag
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0.1198365953233507, 0.3699997410629735, 0.21186275108187808, 0.3867421776357324 ], "ocr": false, "ocr_confidence": 1, "text": "Mission" }, { "bbox": [ 0.11813725988849316, 0.4111361262774227, 0.3681352652755438, 0.42486337218621767 ], "ocr": false, "ocr_confidence": 1, "text": "To be a preferred funding partner " }, { "bbox": [ 0.11827451419207007, 0.43137852832524465, 0.3685470531189364, 0.44506034465751265 ], "ocr": false, "ocr_confidence": 1, "text": "to mining companies throughout " }, { "bbox": [ 0.11827451419207007, 0.45157550079653963, 0.37162546394697205, 0.46525731712880763 ], "ocr": false, "ocr_confidence": 1, "text": "the commodity cycle by providing " }, { "bbox": [ 0.11860783894856772, 0.4717724732678346, 0.31911568236506843, 0.4854542896001026 ], "ocr": false, "ocr_confidence": 1, "text": "customized streaming and " }, { "bbox": [ 0.11939215815924352, 0.4919088344381314, 0.3572725283554177, 0.5056512620713977 ], "ocr": false, "ocr_confidence": 1, "text": "royalty financing, while offering " }, { "bbox": [ 0.11801960265714359, 0.5121664182104246, 0.3596450955260034, 0.5258179481583413 ], "ocr": false, "ocr_confidence": 1, "text": "value beyond capital as partners " }, { "bbox": [ 0.11801960265714359, 0.532363352149424, 0.33625294803793915, 0.5459391276041667 ], "ocr": false, "ocr_confidence": 1, "text": "via our networks, capabilities " }, { "bbox": [ 0.11860783894856772, 0.5525603631530146, 0.3141725328233507, 0.5662118931009312 ], "ocr": false, "ocr_confidence": 1, "text": "and sustainability support." }, { "bbox": [ 0.6390454660054126, 0.055252537582859855, 0.8830572390088848, 0.061939432163431195 ], "ocr": false, "ocr_confidence": 1, "text": "TRIPLE FLAG 2022 ANNUAL REPORT " }, { "bbox": [ 0.9176633747574551, 0.04825507269965278, 0.9264281029794731, 0.06189142092309818 ], "ocr": false, "ocr_confidence": 1, "text": "3" } ]
[ { "bbox": [ 0.09981339897205628, 0.13304492680713384, 0.4625355340296926, 0.19872669258503 ], "data": [], "index_in_doc": 32, "label": "section_header", "text": "VISION, MISSION AND STRATEGY" }, { "bbox": [ 0.11820260839524613, 0.2361614342891809, 0.19235294317108353, 0.2529037937973485 ], "data": [], "index_in_doc": 33, "label": "section_header", "text": "Vision" }, { "bbox": [ 0.4180392097024357, 0.23628766608960702, 0.5190849553525838, 0.25760080356790566 ], "data": [], "index_in_doc": 34, "label": "section_header", "text": "Strategy" }, { "bbox": [ 0.11813725988849316, 0.27734321054786143, 0.37313531115164167, 0.31111591994160354 ], "data": [], "index_in_doc": 35, "label": "text", "text": "To be a leading global sustainable precious metals investment." }, { "bbox": [ 0.1198365953233507, 0.3699997410629735, 0.21186275108187808, 0.3867421776357324 ], "data": [], "index_in_doc": 36, "label": "section_header", "text": "Mission" }, { "bbox": [ 0.11801960265714359, 0.4111361262774227, 0.37162546394697205, 0.5662118931009312 ], "data": [], "index_in_doc": 37, "label": "text", "text": "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." }, { "bbox": [ 0.09583124771616817, 0.5933493797225182, 0.37291867125268074, 0.9258650962752526 ], "data": [], "index_in_doc": 38, "label": "picture", "text": "" }, { "bbox": [ 0.4711051891052645, 0.00009156018495559694, 0.9980040905522366, 0.2462322928688743 ], "data": [], "index_in_doc": 39, "label": "picture", "text": "" }, { "bbox": [ 0.417135600171058, 0.27476601648812343, 0.9015650531045752, 0.3149932707198943 ], "data": [], "index_in_doc": 40, "label": "text", "text": "Our strategy is to grow our portfolio and value per share through ongoing investments in primarily precious metals streams and royalties with a prioritization on sustainability and maintaining our carbon neutrality. Our focus is on:" }, { "bbox": [ 0.416782678342333, 0.32723189845229644, 0.9016753552006741, 0.3824250962999132 ], "data": [], "index_in_doc": 41, "label": "text", "text": "Supporting our partners' strategic priorities and sustainability initiatives by offering proactive streaming and royalty funding that is tailored to enable their individual needs, while also providing financial support to strengthen their sustainability programs and enhance their privilege to operate with their host communities and work force." }, { "bbox": [ 0.4177679672739864, 0.39481145685369323, 0.5395032595964818, 0.4049819021513968 ], "data": [], "index_in_doc": 42, "label": "section_header", "text": "Delivering growth by:" }, { "bbox": [ 0.41737091463375714, 0.4171978343616833, 0.9013549206303616, 0.4573455964676058 ], "data": [], "index_in_doc": 43, "label": "text", "text": "- · Utilizing our deep experience and networks across all aspects of the mining industry, which yields more opportunity for bilateral deals rather than narrow competitive processes" }, { "bbox": [ 0.41737091463375714, 0.46966375485815187, 0.9016621907552084, 0.5077773970786972 ], "data": [], "index_in_doc": 44, "label": "text", "text": "- · Offering our partners value beyond capital via our sustainability programs and using our knowledge and experience to provide continued support and insight to help them maximize value" }, { "bbox": [ 0.41737091463375714, 0.5221296368223248, 0.9016622904858558, 0.5473909859705454 ], "data": [], "index_in_doc": 45, "label": "text", "text": "- · Capturing the available synergies between our long-term focus and investment horizon and the lengthy timelines for exploration and development in the mining sector" }, { "bbox": [ 0.41737091463375714, 0.5596296522352431, 0.901309343724469, 0.5998341724126026 ], "data": [], "index_in_doc": 46, "label": "text", "text": "- · Unlocking the value arbitrage on offer from base metals mines with non-core precious metals byproducts that can be streamed and are more valuable within a precious metals company" }, { "bbox": [ 0.4170032576018689, 0.6122205329663827, 0.720735537460427, 0.6224137123184975 ], "data": [], "index_in_doc": 47, "label": "section_header", "text": "Generating attractive returns for our shareholders by:" }, { "bbox": [ 0.41737091463375714, 0.6346296059964883, 0.9023814481847426, 0.6877091725667318 ], "data": [], "index_in_doc": 48, "label": "text", "text": "- · Building a portfolio of investments in cash-generating mines and construction-ready, fully permitted projects, balanced by prudent investments across earlier stages of the mine life cycle to offer investors exposure to ongoing growth across multiple time horizons" }, { "bbox": [ 0.41737091463375714, 0.6981864890666923, 0.6965444726881638, 0.7085728500828599 ], "data": [], "index_in_doc": 49, "label": "text", "text": "- · Growing cash flow per share over the long term" }, { "bbox": [ 0.41737091463375714, 0.7170274137246488, 0.9007638170828227, 0.7422887628728694 ], "data": [], "index_in_doc": 50, "label": "text", "text": "- · Offering growing exposure to precious metals ounces backed by robust cash yields, a good dividend and attractive returns" }, { "bbox": [ 0.41737091463375714, 0.7507774468624231, 0.9010592192606209, 0.7759251835370305 ], "data": [], "index_in_doc": 51, "label": "text", "text": "- · Hiring exceptional talent that aligns with our values and culture, enabling us to secure and execute on the best deal opportunities available" }, { "bbox": [ 0.41737091463375714, 0.7844933596524326, 0.9013534246706495, 0.8246865706010299 ], "data": [], "index_in_doc": 52, "label": "text", "text": "- · Employing a lean, highly capable and engaged team that draws on specialized skills from our external global network to optimize due diligence effectiveness while controlling G&A expenses" }, { "bbox": [ 0.41737091463375714, 0.8331411727751145, 0.9010871438419118, 0.8583229816321172 ], "data": [], "index_in_doc": 53, "label": "text", "text": "- · Managing risk through our due diligence, ongoing portfolio optimization activities and investment processes" }, { "bbox": [ 0.41737091463375714, 0.866891177013667, 0.9016621907552084, 0.892118482878714 ], "data": [], "index_in_doc": 54, "label": "text", "text": "- · Maintaining our status as a sustainable, carbon neutral company while giving back to host communities with investments in social programs" }, { "bbox": [ 0.41737091463375714, 0.9005616698602235, 0.9013562171287787, 0.9258344342010191 ], "data": [], "index_in_doc": 55, "label": "text", "text": "- · Aligning management and shareholder interests via our team's significant ownership position in Triple Flag" } ]
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hf://datasets/artefactory/Argimi-Ardian-Finance-10k-text-image@d019db455ff58bc14cae72422c4fc3ef0c301ea7/data/00/document-000023a4ffcad84c6568c7572049a7f2a066681f68df707d27c50c0ac5bd42d6.tar.gz
FINANCIAL HIGHLIGHTS " Triple Flag had another successful year, delivering record 2022 performance resulting in six consecutive years of record GEOs sales. The Company increased its annual dividend to US$0.20 per share, one of the highest dividend yields in the sector. " Susan Allen Director and Chair of the Audit and Risk Committee
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000023a4ffcad84c6568c7572049a7f2a066681f68df707d27c50c0ac5bd42d6-6
hf://datasets/artefactory/Argimi-Ardian-Finance-10k-text-image@d019db455ff58bc14cae72422c4fc3ef0c301ea7/data/00/document-000023a4ffcad84c6568c7572049a7f2a066681f68df707d27c50c0ac5bd42d6.tar.gz
150 O 150 ATI 50150 OPERATING CASH FLOW 150 (US$M) $120 $118 120 90 60 30 0 160 A 160 STE NET EARNINGS AND 60160 ADJUSTED EBITDA 1 (US$M) $123 100 $ 150 FR 50 FREE CASH FLOW 1 (US$M) GROSS PROFIT MARGIN AND ASSET MARGIN 1 (% of Revenue) 91% 89% 92% 91% 91% 91% 92% $118 89% 1 91% 91% 91% 92% 91% 91% 0 $118 75 $55 6% 7 1 0 2 21 0 2 $46 50 25 0 21 0 2 2 2 0 2 2 2 0 2 $27 7 1 0 2 - 1. Young-Davidson, Ontario, Canada - 2. Cerro Lindo, Chincha, Peru - (1) Free cash flow, Adjusted EBITDA and Asset margin are non-IFRS performance measures with no standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. For further information and a detailed reconciliation of each non-IFRS measure to the more directly comparable IFRS measure, see ''Non-IFRS Financial Performance Measures'' in the MD&A.
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Young-Davidson, Ontario, Canada" }, { "bbox": [ 0.5921160130718954, 0.8583546648121844, 0.7272182788724214, 0.8657612367109819 ], "data": [], "index_in_doc": 117, "label": "text", "text": "- 2. Cerro Lindo, Chincha, Peru" }, { "bbox": [ 0.0990457534790039, 0.895125003776165, 0.8999016456354677, 0.9245126223323322 ], "data": [], "index_in_doc": 118, "label": "text", "text": "- (1) Free cash flow, Adjusted EBITDA and Asset margin are non-IFRS performance measures with no standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. For further information and a detailed reconciliation of each non-IFRS measure to the more directly comparable IFRS measure, see ''Non-IFRS Financial Performance Measures'' in the MD&A." } ]
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SUSTAINABILITY " Worldwide, we are witnessing concerted efforts by stakeholders to create investment strategies that benefit the environment and society as a whole. ESG is at the core of Triple Flag's vision, mission, and strategy. We incorporate ESG factors in our due diligence process to assess the viability of our investments. We also consider ourselves long-term partners of our mining asset operators and actively engage with them to strengthen their ESG performance. We continuously refine our processes in line with global best practices. " Shaun Usmar Founder, Chief Executive Officer and Director OUR SUSTAINABILITY APPROACH IS TWO-PRONGED 1 We ensure portfolio quality by investing in streams and royalties on mines and projects where our due diligence determines that our counterparties demonstrate strong sustainability management and performance. Strong sustainability performance by our partners helps ensure the mines underlying our investments enjoy the privilege to operate from those affected by mining, which protects our business and shareholders. 2 We contribute to a responsible and sustainable mining ecosystem through our own practices, actions, and community investments. We further our efforts by exerting influence across our portfolio and the broader mining ecosystem. We aim to lead by example and to share our experience and networks to support sustainable mining.
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Strong " }, { "bbox": [ 0.6216411715239482, 0.6590024389401832, 0.8576235303691789, 0.6692751489504419 ], "ocr": false, "ocr_confidence": 1, "text": "sustainability performance by our partners " }, { "bbox": [ 0.6224646973454095, 0.6740024065730548, 0.8750235364328023, 0.6842637688222558 ], "ocr": false, "ocr_confidence": 1, "text": "helps ensure the mines underlying our invest\u0002" }, { "bbox": [ 0.6223911459929024, 0.6889342491072838, 0.8509911431206597, 0.6992410601991597 ], "ocr": false, "ocr_confidence": 1, "text": "ments enjoy the privilege to operate from " }, { "bbox": [ 0.6215529099009396, 0.7039001541908342, 0.8465352775224674, 0.7141955982555043 ], "ocr": false, "ocr_confidence": 1, "text": "those affected by mining, which protects " }, { "bbox": [ 0.6218029346341402, 0.7189001410898537, 0.7951676611806833, 0.727059239088887 ], "ocr": false, "ocr_confidence": 1, "text": "our business and shareholders." }, { "bbox": [ 0.6246771220288245, 0.7473736001987651, 0.647422192143459, 0.7722220950656468 ], "ocr": false, "ocr_confidence": 1, "text": "2" }, { "bbox": [ 0.621405857061249, 0.7866690664580375, 0.8156382242838542, 0.7968508980490945 ], "ocr": false, "ocr_confidence": 1, "text": "We contribute to a responsible and " }, { "bbox": [ 0.6216411715239482, 0.8016349715415878, 0.8373441010518791, 0.8118963337907888 ], "ocr": false, "ocr_confidence": 1, "text": "sustainable mining ecosystem through " }, { "bbox": [ 0.6218029346341402, 0.8166008958912859, 0.8586381899765114, 0.8268395433522234 ], "ocr": false, "ocr_confidence": 1, "text": "our own practices, actions, and community " }, { "bbox": [ 0.622264089148029, 0.8315213328660137, 0.8764314339830985, 0.8418167961968317 ], "ocr": false, "ocr_confidence": 1, "text": "investments. 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" }, { "bbox": [ 0.10146731956332337, 0.24883771183514838, 0.8625288819955066, 0.2671407834447996 ], "ocr": false, "ocr_confidence": 1, "text": "ESG is at the core of Triple Flag’s vision, mission, and strategy. We incorporate " }, { "bbox": [ 0.10138747894686033, 0.27409023708767366, 0.8941875781888277, 0.2923933086973248 ], "ocr": false, "ocr_confidence": 1, "text": "ESG factors in our due diligence process to assess the viability of our investments. " }, { "bbox": [ 0.09960160224266301, 0.2993427623401989, 0.8496725044998469, 0.3176458339498501 ], "ocr": false, "ocr_confidence": 1, "text": "We also consider ourselves long-term partners of our mining asset operators " }, { "bbox": [ 0.09886026070788016, 0.32459528759272416, 0.7930177177479065, 0.3428983592023753 ], "ocr": false, "ocr_confidence": 1, "text": "and actively engage with them to strengthen their ESG performance. " }, { "bbox": [ 0.09967418745452283, 0.3498276219223485, 0.7947226131663603, 0.3681508844549006 ], "ocr": false, "ocr_confidence": 1, "text": "We continuously refine our processes in line with global best practices." }, { "bbox": [ 0.7987295911203023, 0.34902460888178666, 0.8087262920304841, 0.35655744148023205 ], "ocr": false, "ocr_confidence": 1, "text": "”" }, { "bbox": [ 0.6220068838082108, 0.38747714264224276, 0.6987554014118669, 0.3955453044236309 ], "ocr": false, "ocr_confidence": 1, "text": "Shaun Usmar" }, { "bbox": [ 0.6229333316578585, 0.4022839478772096, 0.8703406838809743, 0.41162486991497005 ], "ocr": false, "ocr_confidence": 1, "text": "Founder, Chief Executive Officer and Director " }, { "bbox": [ 0.09962549396589691, 0.6396588412198154, 0.4512635773303462, 0.6547043154938053 ], "ocr": false, "ocr_confidence": 1, "text": "STRIVING FOR ESG EXCELLENCE" }, { "bbox": [ 0.0992039200527216, 0.6792320675320096, 0.46035696790109276, 0.6928078237206046 ], "ocr": false, "ocr_confidence": 1, "text": "We believe strong sustainability performance is " }, { "bbox": [ 0.09920392628588708, 0.6994290400033046, 0.49084522521573737, 0.7130047961918995 ], "ocr": false, "ocr_confidence": 1, "text": "critical to the long-term success of our organization, " }, { "bbox": [ 0.0992039200527216, 0.7196563181250987, 0.4288058810763889, 0.7332017686631945 ], "ocr": false, "ocr_confidence": 1, "text": "the mining industry and host communities. 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MAKING RESPONSIBLE INVESTMENTS As a capital provider, our investment process prioritizes ESG and the creation of long-term value for our stakeholders. We rely on our rigorous due diligence process to assess how an investment opportunity aligns with our ESG values, and avoid investing in projects that adversely impact the environment and local stakeholders. For example, we do not invest in any opportunities that involve riverine tailings disposal, child labor or forced labor. Our pre-acquisition due diligence processes assess a range of ESG aspects to identify short- and long-term ESG risks, their materiality, as well as systems in place to manage and mitigate them. As a result, our approach is comprehensive in scope, highly defined, and tailored to fit the specifics of each investment opportunity. Below outlines some sustainability issues we consider as part of our due diligence: ENVIRONMENT SOCIAL GOVERNANCE - · Climate change risks - · Biodiversity and conservation - · Tailings and mine waste management and storage - · Water use and management - · Labor, human rights and working conditions - · Indigenous peoples' rights, relationships and cultural heritage - · Workforce and community health, safety and security - · Stakeholder engagement and relationships - · Diversity in the workforce Our process has helped us identify and invest in 15 producing assets which are operated responsibly to create a positive impact on the environment, workers and local communities. 14 out of our 15 producing assets are primarily underground mines, which have less surface disruption, waste and lower greenhouse gas (GHG) footprints than comparable open pit mines. We also incorporate ESG safeguards into investment agreements and exercise such safeguards, where necessary, to protect our investments and reputation. Post-acquisition, we work collaboratively with counterparties to monitor their performance on a range of ESG aspects, understand their management practices and screen for new or emerging ESG risks and opportunities. Throughout the review process for our recent acquisition of Maverix Metals Inc., we have consistently adhered to the tenets of ESG due diligence and performance. We reviewed their board committee mandates, ESG initiatives, policies, programs and infrastructure to identify synergies and opportunities for alignment with best practice for our combined entity. Included in this work was the critical undertaking of determining the human resources required to effectively and efficiently manage Triple Flag for the future. We engaged the Maverix team after a thorough review and offered employment agreements to certain team members to best position Triple Flag for a successful transition. 14 out of our 15 producing assets are primarily underground mines, which have less surface disruption, waste and lower greenhouse gas (GHG) footprints than comparable open pit mines. - · Corporate governance - · Environmental and social impact analysis - · Anti-corruption controls and business ethics - · Monitoring, reporting and transparency
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1, "text": "14 out of our 15" }, { "bbox": [ 0.5554901821161408, 0.7878478657115591, 0.7847038717830883, 0.8013933162496548 ], "ocr": false, "ocr_confidence": 1, "text": "producing assets are primarily " }, { "bbox": [ 0.5553333556729984, 0.808044838182854, 0.8324882158266953, 0.8215902887209497 ], "ocr": false, "ocr_confidence": 1, "text": "underground mines, which have less " }, { "bbox": [ 0.5545490239959916, 0.828211485737502, 0.778505861369613, 0.8416660385902482 ], "ocr": false, "ocr_confidence": 1, "text": "surface disruption, waste and " }, { "bbox": [ 0.5555686202703738, 0.848408467841871, 0.8522332883348652, 0.8619842240304658 ], "ocr": false, "ocr_confidence": 1, "text": "lower greenhouse gas (GHG) footprints " }, { "bbox": [ 0.5544117447597529, 0.8686357363305911, 0.8023686128504136, 0.8820599738997643 ], "ocr": false, "ocr_confidence": 1, "text": "than comparable open pit mines." }, { "bbox": [ 0.6390454660054126, 0.055252537582859855, 0.8830572390088848, 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We also incorporate ESG safeguards into investment agreements and exercise such safeguards, where necessary, to protect our investments and reputation." }, { "bbox": [ 0.5105245253619026, 0.6220239581483784, 0.9018289403977737, 0.6771034857239386 ], "data": [], "index_in_doc": 146, "label": "text", "text": "Post-acquisition, we work collaboratively with counterparties to monitor their performance on a range of ESG aspects, understand their management practices and screen for new or emerging ESG risks and opportunities." }, { "bbox": [ 0.09840686025183186, 0.7492283522480667, 0.49078493803934337, 0.8942171443592419 ], "data": [], "index_in_doc": 147, "label": "text", "text": "Throughout the review process for our recent acquisition of Maverix Metals Inc., we have consistently adhered to the tenets of ESG due diligence and performance. We reviewed their board committee mandates, ESG initiatives, policies, programs and infrastructure to identify synergies and opportunities for alignment with best practice for our combined entity. Included in this work was the critical undertaking of determining the human resources required to effectively and efficiently manage Triple Flag for the future. We engaged the Maverix team after a thorough review and offered employment agreements to certain team members to best position Triple Flag for a successful transition." }, { "bbox": [ 0.5547207103056067, 0.7389261457655165, 0.8583853727851818, 0.7779337179781212 ], "data": [], "index_in_doc": 148, "label": "section_header", "text": "14 out of our 15" }, { "bbox": [ 0.5544117447597529, 0.7878478657115591, 0.8522332883348652, 0.8820599738997643 ], "data": [], "index_in_doc": 149, "label": "text", "text": "producing assets are primarily underground mines, which have less surface disruption, waste and lower greenhouse gas (GHG) footprints than comparable open pit mines." }, { "bbox": [ 0.6593643886591095, 0.43142415056324973, 0.800055559943704, 0.44102639862985327 ], "data": [], "index_in_doc": 150, "label": "text", "text": "- · Corporate governance" }, { "bbox": [ 0.6593643886591095, 0.4495150633532592, 0.8177613900377859, 0.47471957736545145 ], "data": [], "index_in_doc": 151, "label": "text", "text": "- · Environmental and social impact analysis" }, { "bbox": [ 0.6593643886591095, 0.48323097614326865, 0.8368482402726716, 0.5063559406935567 ], "data": [], "index_in_doc": 152, "label": "text", "text": "- · Anti-corruption controls and business ethics" }, { "bbox": [ 0.6593643886591095, 0.5169468889332781, 0.8233041202320772, 0.5421514029454704 ], "data": [], "index_in_doc": 153, "label": "text", "text": "- · Monitoring, reporting and transparency" } ]
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GOOD GOVERNANCE Triple Flag promotes adoption of robust governance practices, including transparency and accountability in our operations and the operations of our counterparties. We strive to continually strengthen our corporate governance standards and processes, in line with industry best practices. We have a multi-tiered governance structure with well-defined roles and responsibilities. Our Board, management and broader team comprise a diverse range of individuals who bring a mix of backgrounds, experience, skills and expertise, evidencing diversity in tenure, age and gender. In line with our focus on diversity and inclusion, we have set targets to have 30% women on our Board and 30% diversity in our senior management team by 2025. Our Diversity and Inclusion Policy ensures that we promote diversity across all levels of our organization, including at the Board and senior management levels. We pursue ethical business practices across our operations and are committed to compliance with all applicable local and national anti-bribery or anti-corruption laws and regulations. Since our inception, we have had zero incidents of conflicts of interest, Code of Ethics violations, employee grievances, bribery or corruption. In 2022, we completed the UNGC Target Gender Equality accelerator program. This program has strengthened our ability to contribute to Sustainable Development Goal 5.5, ensuring women's full and effective representation, participation, and leadership in business globally. Our CEO signed our commitment to the Women's Empowerment Principles (WEPs) in 2022, a set of principles offering guidance to business on how to promote gender equality and women's empowerment in the workplace, marketplace, and community. As of December 31, 2022, 29% of our Board and 40% of our independent directors are women, including two of three prominent positions – the Chair of the Board and the Chair of the Audit and Risk Commit -tee. No member of the Board currently identifies as a visible minority, Aboriginal person or person with a disability. PROPORTION OF DIRECTORS IDENTIFYING AS WOMEN PROPORTION OF INDEPENDENT DIRECTORS IDENTIFYING AS WOMEN In 2022, we engaged Sustainalytics (a Morningstar company) to complete a review and ranking of Triple Flag's ESG initiatives. We are pleased to announce that we were rated 4th of 114 companies across the precious metals industry and 2nd in our sub-industry of precious metals mining, with an absolute risk rating of 9.2 (negligible risk). We were awarded two supplemental Top Badges for both Region and Industry. Sustainalytics is a global leader in the fields of responsible investing and sustainable finance. Supported by a robust materiality framework, Sustainalytics' ESG Risk Ratings provide a quantitative and absolute measure of unmanaged ESG risk. The Sustainalytics ESG Risk Rating Methodology takes into consideration a robust multitude of factors and can be used to compare companies across all covered sub-industries. PROPORTION OF DIVERSE EMPLOYEES PROPORTION OF ELIGIBLE EMPLOYEES WHO RETURNED FROM PARENTAL LEAVE
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VALUING OUR PEOPLE We believe that employees are our greatest asset and play a pivotal role in achieving our vision. We encourage our team members to pursue learning and professional development opportunities suited to their role and interests. In recognition of our efforts to create an engaging workplace, we were recognized by Great Place to Work in Canada. Survey results are completely based on employee feedback. This portrays to potential job seekers that our company offers a great culture and contributes to our recruiting advantage by providing a globally recognized and research-backed verification of a strong and rewarding employee experience.
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{ "content_stats": { "has_tables": true, "image_dimensions": [ 1224, 1584 ], "segment_count": 4, "table_count": 13, "text_length": 657 }, "document_id": "000023a4ffcad84c6568c7572049a7f2a066681f68df707d27c50c0ac5bd42d6", "estimated_total_pages": 11, "filename": "TSX_TFPM_2022.pdf", "page_number": 10 }
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The ArGiMI Ardian datasets : text and images

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The ArGiMi project is committed to open-source principles and data sharing. Thanks to our generous partners, we are releasing several valuable datasets to the public.

Dataset description

This dataset comprises 34,000 financial annual reports, written in English, meticulously extracted from their original PDF format to provide a valuable resource for researchers and developers in financial analysis and natural language processing (NLP). These reports were published from the late 90s to 2023.

This dataset provides images of each document pages. A lighter, text-only version, is also available at artefactory/Argimi-Ardian-Finance-10k-text.

You can load the dataset with:

from datasets import load_dataset

ds = load_dataset("artefactory/Argimi-Ardian-Finance-10k-text-image", split="train")

# Or you can stream the dataset to save memory space :

ds = load_dataset("artefactory/Argimi-Ardian-Finance-10k-text-image", split="train", streaming=True)

Dataset composition:

  • Each PDF was divided into individual pages to facilitate granular analysis.

  • For each page, the following data points were extracted:

    • Raw Text: The complete textual content of the page, capturing all textual information present.
    • Screenshot: A high-resolution image of the page, preserving the visual layout and formatting.
    • Cells: Each cell within tables was identified and represented as a Cell object within the docling framework. Each Cell object encapsulates:
      • id: A unique identifier assigned to each cell, ensuring unambiguous referencing.
      • text: The textual content contained within the cell.
      • bbox: The precise bounding box coordinates of the cell, defining its location and dimensions on the page.
      • When OCR is employed, cells are further represented as OcrCell objects, which include an additional confidence attribute. This attribute quantifies the confidence level of the OCR process in accurately recognizing the cell's textual content.
    • Segments: Beyond individual cells, docling segments each page into distinct content units, each represented as a Segment object. These segments provide a structured representation of the document's layout and content, encompassing elements such as tables, headers, paragraphs, and other structural components. Each Segment object contains:
      • text: The textual content of the segment.
      • bbox: The bounding box coordinates, specifying the segment's position and size on the page.
      • label: A categorical label indicating the type of content the segment represents (e.g., "table," "header," "paragraph").
  • To guarantee unique identification, each document is assigned a distinct identifier derived from the hash of its content.

Parsing description:

The dataset creation involved a systematic process using the docling library (Documentation).

  • PDFs were processed using the DocumentConverter class, employing the PyPdfiumDocumentBackend for handling of the PDF format.
  • To ensure high-quality extraction, the following PdfPipelineOptions were configured:
    pipeline_options = PdfPipelineOptions(ocr_options=EasyOcrOptions(use_gpu=True))
    pipeline_options.images_scale = 2.0  # Scale image resolution by a factor of 2
    pipeline_options.generate_page_images = True  # Generate page images
    pipeline_options.do_ocr = True  # Perform OCR
    pipeline_options.do_table_structure = True  # Extract table structure
    pipeline_options.table_structure_options.do_cell_matching = True  # Perform cell matching in tables
    pipeline_options.table_structure_options.mode = TableFormerMode.ACCURATE  # Use accurate mode for table structure extraction
    
  • These options collectively enable:
    • GPU-accelerated Optical Character Recognition (OCR) via EasyOcr.
    • Upscaling of image resolution by a factor of 2, enhancing the clarity of visual elements.
    • Generation of page images, providing a visual representation of each page within the document.
    • Comprehensive table structure extraction, including cell matching, to accurately capture tabular data within the reports.
    • The "accurate" mode for table structure extraction, prioritizing precision in identifying and delineating tables.

Disclaimer:

This dataset, made available for experimental purposes as part of the ArGiMi research project, is provided "as is" for informational purposes only. The original publicly available data was provided by Ardian. Artefact has processed this dataset and now publicly releases it through Ardian, with Ardian's agreement. None of ArGiMi, Artefact, or Ardian make any representations or warranties of any kind (express or implied) regarding the completeness, accuracy, reliability, suitability, or availability of the dataset or its contents. Any reliance you place on such information is strictly at your own risk. In no event shall ArGiMi, Artefact, or Ardian be liable for any loss or damage, including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this dataset. This disclaimer includes, but is not limited to, claims relating to intellectual property infringement, negligence, breach of contract, and defamation.

Acknowledgement:

The ArGiMi consortium gratefully acknowledges Ardian for their invaluable contribution in gathering the documents that comprise this dataset. Their effort and collaboration were essential in enabling the creation and release of this dataset for public use. The ArGiMi project is a collaborative project with Giskard, Mistral, INA and BnF, and is sponsored by the France 2030 program of the French Government.

Citation:

If you find our datasets useful for your research, consider citing us in your works:

@misc{argimi2024Datasets,
  title={The ArGiMi datasets},
  author={Hicham Randrianarivo, Charles Moslonka, Arthur Garnier and Emmanuel Malherbe},
  year={2024},
}
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