Our mission is to be a sought-after, long-term funding partner to mining companies throughout the commodity cycle while generating attractive returns for our investors

Our Strategy

Our strategy is to grow our portfolio and net asset value per share through ongoing investments in primarily precious metals streams and royalties. Our focus is on cash-generating mines and construction-ready, fully-permitted projects, balanced by prudent investments across earlier stages of the mine life cycle to maintain exposure to a robust collection of development-stage assets and grow free cash flow per share over the long term.

Our Approach

We use a lean, low-burn rate model that limits G&A expenses and cultivates a nimble and analysis-driven culture. We have had access to deal flow through our extensive networks from former careers in some of the world’s largest mining companies.

Our Team

The Triple Flag management team members are miners first and foremost. Our expertise, combined with our extensive relationships across the mining sector, have resulted in rapid growth and a proven track record of value creation since our inception in 2016.

Proven Success

We are a pure play precious metals streaming and royalty company with a differentiated culture and approach to investing. We have rapidly developed a diversified portfolio of streams and royalties providing exposure primarily to gold and silver.

Our investment bias is tilted toward cash-generating mines, but we will actively pursue development-stage projects as well as we seek to build a balanced portfolio with good future growth potential.

Proven business model

demonstratable performance across multiple commodity price cycles:

  • limited exposure to operating and capital costs incurred at the operating level
  • positioned to share in the upside provided by exploration success, mine life extensions, and operational expansions
  • greater diversification of our assets than is typical for mining companies
  • provides stable cash flows to support a sustainable dividend policy and fund future growth

LTM Free Cash Flow


LTM GEOs Sales


LTM Asset Margin




LTM Cash Cost Per GEO

Non-IFRS measures
  1. Cash margin, adjusted EBITDA, free cash flow, GEOs and cash cost per GEO are not recognized measures under International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS and may be calculated differently by other companies.
  2. Based on results over the last twelve months ("LTM") ended September 30, 2021.
  3. Gold Equivalent Ounces or GEOs are based on the Company’s stream and royalty interests. GEOs are calculated on a quarterly basis by dividing revenue from such interests for the quarter by the average gold price during such quarter.
  4. Cash Costs per GEO sold is calculated by taking costs of sales excluding depletion and dividing by GEOs sold.