Tortola, British Virgin Islands--(Newsfile Corp. - May 1, 2024) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce its operating and financial results for the year and fourth quarter ended December 31, 2023 ("Q4 2023"). All amounts are in U.S. dollars unless otherwise indicated.
2023 Highlights:
Gold ounces earned from stream interests of 1,078 for the year ended December 31, 2023 (2022 - 1,476);
Royalty revenue earned of $261,106 for the year ended December 31, 2023 (2022 - $nil);
Total revenues of $2,333,092 for the year ended December 31, 2023 (2022 - $2,646,301);
Gross profit of $1,391,272 for the year ended December 31, 2023 (2022 - $1,383,654);
Net loss of $1,105,864 for the year ended December 31, 2023 (2022 - $1,205,499);
Repurchased for cancellation an aggregate of 1,080,400 common shares of the Company under the current normal course issuer bid for the year ended December 31, 2023 (2022 - 1,969,200); and
Declared a Q1 2023, Q2 2023, Q3 2023 and Q4 2023 quarterly dividend of $0.0125 per common share which were paid on April 17, 2023, July 17, 2023, October 16, 2023 and January 15, 2024, respectively.
Summary of Annual Results:
Year ended December 31, 2023
Year ended December 31, 2022
Consolidated statements of loss and comprehensive loss
$
$
Revenues
2,333,092
2,646,301
Gross profit
1,391,272
1,383,654
Net loss
(1,105,864
)
(1,205,499
)
Net loss per share
(0.02
)
(0.02
)
Q4 2023 Highlights:
Gold ounces earned from stream interests of 243 for the three months ended December 31, 2023 (2022 - 396);
Royalty revenue earned of $246,445 for the three months ended December 31, 2023 (2022 - $nil);
Total revenues of $712,988 for the three months ended December 31, 2023 (2022 - $676,299);
Gross profit of $499,999 for the three months ended December 31, 2023 (2022 - $351,762); and
Net income of $204,956 for the three months ended December 31, 2023 (2022 - net loss of $134,855).
Summary of Quarterly Results:
Three months ended December 31, 2023
Three months ended December 31, 2022
Condensed interim consolidated statements of income (loss) and comprehensive income (loss)
$
$
Revenues
712,988
676,299
Gross profit
499,999
351,762
Net income (loss)
204,956
(134,855
)
Net income (loss) per share (basic and diluted)
0.00
(0.00
)
For complete details, please refer to the Annual Consolidated Financial Statements for the years ended December 31, 2023 and 2022 and associated Management Discussion and Analysis for the year ended December 31, 2023, available on SEDAR+ (www.sedarplus.ca) or on the Company's website (www.sailfishroyalty.com).
Subsequent to Q4 2023 Highlights:
Subsequent to December 31, 2023, Sailfish purchased 829,800 common shares on-market which have been cancelled.
On March 22, 2024, the Company declared a dividend of $0.0125 per common share which was paid on April 15, 2024.
About Sailfish
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are three main assets in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold mine (~3.5 sq. km) and a 2% NSR on the rest of the area (~134.5 sq. km) surrounding San Albino in northern Nicaragua; an up to 3% NSR on the multi-million ounce Spring Valley gold project in Pershing County, Nevada; and a 100% interest in the Gavilanes Silver Project located in Durango State, Mexico.
Sailfish is listed on the TSX Venture Exchange under the symbol "FISH" and on the OTCQX under the symbol "SROYF". Please visit the Company's website at www.sailfishroyalty.com for additional information.
For further information: Paolo Lostritto, CEO, tel. 416-602-2645 or Bryan McKenzie, CFO, tel. 604-443-3834.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207649
Sailfish Royalty Corp. (Sailfish) is a precious metals royalty and streaming company with assets in the Americas. The Companyâs portfolio includes Moonlight Property Royalty, Spring Valley Royalty, San Albino Gold Strem, La Cigarra Royalty & EI Compas Royalty. Its primary portfolio consists of three main assets in the Americas: a gold stream equivalent to a 3% net smelter return (NSR) on the San Albino gold mine and a 2% NSR on the rest of the area surrounding San Albino in northern Nicaragua; an up to 3% NSR on the multi-million-ounce Spring Valley gold project in Pershing County, Nevada; and a 100% interest in the Gavilanes Silver Project located in Durango State, Mexico. Spring Valley Royalties is a pre-feasibility stage project. The San Albino gold project is part of the San Albino-Murra concession within a contiguous land package of approximately 18,817 hectares. San Albino is located approximately 173 kilometers north of Managua.