Next up we have Triple Flag, a pure-play precious metals-focused streaming and royalty company. We are pleased to have Shaun Usmar, CEO of Triple Flag, present.
Thanks. Thanks very much. I'm going to give you literally an elevator pitch. We'll keep it fairly short, and we'll give you time. This is our journey, and it's a journey started—it'll be eight years in April. We'll be three years on the TSX in May. You can look at the cautionary statement on our website. I'll direct you there. I guess the question is, when you look at a pure-play precious metals streaming and royalty business, why do people want to own these things? And I suppose we had the benefit of a clean sheet design. We weren't spun out from anywhere. We weren't blessed with someone else's assets. We've built this company transaction by transaction. And I think our way of looking at it quite simply is the mining sector has struggled from time to time with capital allocation and cost control.
This is a very forgiving model. You can achieve levels of diversification that you can't in an operating business. So it has very defensive risk characteristics with a huge amount of optionality. Our chosen way to compete was to build a business really with the vision of trying to replicate a Franco-Nevada. So what does that mean? Not in oil and gas, but really a high, a high margin, high growth precious metals vehicle with the nexus of the cash being invested in cash-generating assets, creating a flywheel for reinvestment, for paying dividends, and then creating longer-dated optionality over the, the three horizons overly, over time. You'll see today, and I'll take you through it very briefly, but at this point, you know, we've grown substantially, in fact, higher than any of our peers. I'll cover that in a second.
You'll see that our market cap, I think it was yesterday, now it's about $2.4 billion, waxing and waning. I'll touch on our growth in a second, but we're a business now with 235 assets, whereas 70%-80% is coming from 32 cash-generating assets. That gives us that flywheel. We have about a cash run rate on a trailing basis of about $40 million per quarter. Our dividend consumes a little over $40 million, and we pay the highest dividend yield in the space, which we've increased 5% year-over-year since listing. Then over and above that, you can think of our net debt position at the moment at about $40 million, so about a quarter of free cash generation. And we've got ample firepower with our credit facility. We're trending towards $700 million.
A distinctive feature, which is a real differentiator, though, at the end of the day, we have the highest insider ownership. I own 2.5 million shares in this company. My CFO sitting here is 1.5. Our team has substantial equity, and that really drives how we behave. We don't have to talk about long-term incentives and RSUs and PSUs. I have 45 times my ratio, and my CFO, I think, has 50. We don't have to worry about shareholder alignment at the end of the day. This truly drives how we behave. We are owners. And then on sustainability, for us, we've got some of the highest ratings. I'll touch on it in a minute. But we've done this in a substantive way, actually as a competitive tool.
Miners have true pressures in order to be good corporate citizens and to make sure that they have a good strategic license to operate. Our target is mostly with good partners and making sure that we can enhance their privilege to operate with their communities. It's risk mitigation, and it's good business. At the end of the day, if you invest in one of these companies, management teams come and go, but ultimately, at a moment in time, you're investing in a management team. These are portfolios, managed portfolios, and the question, I think, over time is, what have you done and what have you delivered? Those of you who sit in the audience and listen to lots of presentations, everything sounds very similar. I think what happens over time is a management's track record reveals itself. This is ours. I started this company.
I left Barrick in 2016, after the AGM, to start this company with capital from Elliott. So we had nothing in 2016. Our first deal we closed in December 2016. We've had a 20% cumulative annual growth rate in actual ounces. This last year, we were one of three that hit guidance at 105,000 oz. We're the only issuer in the intermediates and the seniors to actually increase our guidance for this year. And to put that in context, you can think about the midpoint of the range that we're putting out of 105,000 oz-115,000 oz as about 26% higher than our intermediate peers, just to put that in context. And bear in mind, they had a multi-tens of thousands of ounces a head start. This team has focused on very strong execution, and that's really been the hallmark.
You'll see the 140,000 oz that we are projecting beyond that is focused very much on mostly ramping assets. I'll touch on that in a minute. But people should think around execution risk as they think about future growth, and they should think about track record. I think our story, hopefully, provides some credence to what we've been able to deliver and the probability of us continuing on that journey. Diversification, I can't tell you the number of conversations over the last day that we've had with investors focusing on country risk, and, just the overall diversification. Our cornerstone asset, 25%, is Northparkes. We're privileged to have it. Jake is in the audience. We love the fact that Evolution is operating the asset. It's located in Australia. It's a pretty darn good place to do business.
You'll see nothing else over there is, you know, larger than 10%. In fact, 9%. And, the beauty of that for us, and that's not accidental, where we've gone to riskier jurisdictions, we've focused on portfolio construction, the license to operate of our partners, and the sort of returns and payback. We're unashamedly precious-focused at 94%-95%, and I've already touched on geography. Now, you have to have three horizons here. I mentioned the 32 assets. The bulk of our growth is coming through expansions. We're particularly excited about what Jake and the team will be doing and the sequencing at Northparkes. You'll see that ATO, Beta Hunt, and RB Plat are all contributing to that in the coming years. We then have 41 assets in the development stage and 155 that are not captured in that profile.
So there is some subset here that will meaningfully contribute in the future, and that's before you factor in any further acquisitions. And that's how we built this business. The only thing to take away in this time frame is, that we have available is you can see what we're projecting. These are all small incremental. There's no big company bet in that time horizon in there. We're very excited what Agnico is doing on Hope Bay, for example. You'll see beyond that, which we aren't guiding on, there's another number of royalties which we expect to come in the high-horizon just beyond that. This is a 20-year portfolio before there's mine life extension. And this is our track record. Bear in mind, all our peers committed capital before our existence. This is our total capital deployment over this time.
We have had a 2x-4x growth rate in actual ounce delivery over this time frame compared to anybody in that space. So the point is you can often buy your way to growth. I think we can demonstrate that we have not been frivolous with our capital. Our cash yields are super competitive with even the majors in the space. Northparkes, I'll touch on it as a cornerstone. At the end of the day, you know, this is our, it's located five hours or so from Sydney. We're very pleased to see that, you know, Evolution, who have got an incredible track record as well, I was actually CFO in Barrick at 2015 when we sold the asset to Jake and the Evolution team, who really, at the time, I think it was a transformative transaction for them. They've added 340% to reserves.
They understand the geology. They know how to operate very, very well in that region. We're very excited to partner with them in the years ahead there. But this is an incredible mineral endowment with 7.6 million tons per annum and more than 0.5 billion tons of resource before you look at the over 1,000 km2 of land package that this is located on. Our focus this year is on working with Jake and the team to actually showcase just how good this mineral endowment is and the, this 35-year history this asset already has. It's a series of porphyries and open pits, and, I think, I'll direct you to Jake's communications in this time. But I think they've had a great track record of being able to do drilling, contiguous or close to existing infrastructure. They've got opportunities at depth at E48.
I think there's a lot more news to come in the asset, and we're excited for it. On sustainability, I've touched on the high points. Like, we had a lot of chaperones when we IPOed giving us scorecards. Even when we're private, you've got to partner with the right guys because you can't cleanse a bad outcome with a, a rate of return. We do a lot of diligence, and we've walked from a lot in that case. We rank third now in the world on Sustainalytics out of 117 issuers. The way to think about that is, in fact, out of any sector, that's top 1%. That's an output of really work that we've been doing mostly with things like scholarship programs. We do 50,000 a year alongside the work that, the Northparkes team does.
We do $100,000 a year on scholarship programs in Southern Africa, for example. The mining sector does a lot of this stuff. We just don't tend to talk about it. And it's the stuff that really matters at the end of the day if you have any potential conflict. It really does matter. That's the summary. I think we've got two minutes left. But at the end of the day, what you're witnessing here with the team that I'm privileged to, really have put together over the last eight years is, is a is a managed team with a great track record, with deep experience, and a network and a, a way of operating that is really, copied along the lines of how we ran Xstrata. I was one of the first seven executives that worked our way through until we did the Glencore transaction.
A lean, highly experienced, nimble team that uses our global networks both to source deal flow, and the bulk of our deals have come through proprietary, deal flow channels, as well as due diligence at times with specialist expertise that's the best in the world that, candidly, we would not replicate, at an asset level. We have still the leanest team in the space, and the greatest level of ownership. So with that, I have a whopping two minutes. If anybody has any questions, have at it. But, thank you for your time.
Maybe I'll jump in with a question here. With your Q4 results, you mentioned a very large opportunity that is beyond the firepower of the company. And I find it interesting, having listened to all the other presenters today, that none of them discussed an opportunity of that size and potential.
So, maybe can you provide a little bit of color about, you know, metal jurisdiction and how this came to be and just your general views on syndication?
I'm, I'm going to plead the fifth on that. No, look, I don't want to be flippant on it, but I think we've seen, even going back a year or so, when we did Northparkes, which was the largest precious streaming deal in our history, of any of the peers, about $550 million, we saw about a two-year period with a lot of capital getting deployed on development stage assets at low returns. We didn't transact mostly. We did very small deals while that occurred. And I'd say since January or so last year, we saw a return of a multi-hundred million dollar opportunities that are producing. I think we're spending more time in this environment.
There's more opportunity now than I think we've perhaps seen at any other moment. Just look at the markets. But at the same time, there's a lot more risk. And so we've walked from a number of these. I think we're active on several in the tens of millions to low hundreds of millions that are easy. And we can see visibility of some larger ones, which we would potentially partner on, if they got too big. But you can see our firepower. We can do a pretty big transaction, and our history shows we could finance today another Northparkes, for example, on our existing credit facility.
Perfect. I would like to sneak another question in, but I don't think we have time. So, Shaun, thank you very much for today.
I made 50 minutes. There you go. Thank you.