Sailfish Reports Q3 2024 Results

Rhea-AI Summary

Sailfish Royalty has released its Q3 2024 financial results, reporting total revenues of $730,024 for the quarter, up from $413,978 in Q3 2023. The company earned 215 gold ounces from stream interests and generated royalty revenue of $211,942 in Q3 2024. Despite posting a gross profit of $454,040, the company recorded a net loss of $137,648 for the quarter. The company maintained its quarterly dividend of $0.0125 per share and continued its share buyback program, repurchasing 1,586,900 shares during the first nine months of 2024.

Positive

• Revenue increased 76% YoY to $730,024 in Q3 2024
• Gross profit increased 95% YoY to $454,040 in Q3 2024
• Royalty revenue significantly increased to $211,942 from $14,661 in Q3 2023
• Active share buyback program with 1,586,900 shares repurchased in first nine months

Negative

• Net loss of $137,648 in Q3 2024
• Gold ounces earned from stream interests decreased to 671 for nine months vs 835 in 2023

Tortola, British Virgin Islands--(Newsfile Corp. - November 13, 2024) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce its operating and financial results for the third quarter ended September 30, 2024 ("Q3 2024"). All amounts are in U.S. dollars unless otherwise indicated.

Q3 2024 Highlights:

• Gold ounces earned from stream interests of 215 and 671 for the three and nine months ended September 30, 2024 (207 and 835 for the three and nine months ended September 30, 2023);
• Royalty revenue earned of $211,942 and $541,773 for the three and nine months ended September 30, 2024 ($14,661 for both the three and nine months ended September 30, 2023);
• Total revenues of $730,024 and $2,114,221 for the three and nine months ended September 30, 2024 ($413,978 and $1,620,104 for the three and nine months ended September 30, 2023);
• Gross profit of $454,040 and $1,267,809 for the three and nine months ended September 30, 2024 ($232,745 and $891,273 for the three and nine months ended September 30, 2023);
• Net loss of $137,648 and net income of $1,151,857 for the three and nine months ended September 30, 2024 (net loss of $267,312 and $1,310,820 for the three and nine months ended September 30, 2023);
• Repurchased for cancellation an aggregate of 1,586,900 common shares of the Company under the current normal course issuer bid for the nine months ended September 30, 2024 (780,700 for the nine months ended September 30, 2023); and
• Declared quarterly dividends of $0.0125 per common share on March 22, 2024, May 28, 2024 and September 12, 2024 which were paid on April 15, 2024, July 15, 2024 and October 15, 2024, respectively.

Summary of Quarterly Results:

		Three months ended September 30, 2024	Three months ended September 30, 2023	Nine months ended September 30, 2024	Nine months ended September 30, 2023
Condensed interim consolidated statements of comprehensive income (loss)		$	$	$	$
	Revenues	730,024	413,978	2,114,221	1,620,104
	Gross profit	454,040	232,745	1,267,809	891,273
	Net income (loss)	(137,648)	(267,312)	1,151,857	(1,310,820)
	Basic loss per share	(0.00)	(0.00)	0.02	(0.02)
	Diluted loss per share	(0.00)	(0.00)	0.02	(0.02)

 

For complete details, please refer to the Unaudited Condensed Interim Consolidated Financial Statements for the three and nine months ended September 30, 2024 and 2023 and associated Management Discussion and Analysis for the three and nine months ended September 30, 2024, available on SEDAR+ (www.sedarplus.ca) or on the Company's website (www.sailfishroyalty.com).

Subsequent to Q3 2024 Highlights:

• Subsequent to September 30, 2024, the Company received 25,835 ounces of silver pertaining to its Silver Receivable.

• Subsequent to September 30, 2024, the Company cancelled 444,000 common shares.

• Subsequent to September 30, 2024, the Company purchased 208,100 common shares on-market under the Company's normal course issuer bid.

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/229831

FAQ

What was Sailfish Royalty's (SROYF) revenue in Q3 2024?

Sailfish Royalty reported total revenue of $730,024 for Q3 2024, compared to $413,978 in Q3 2023.

How many gold ounces did Sailfish Royalty (SROYF) earn in Q3 2024?

Sailfish Royalty earned 215 gold ounces from stream interests in Q3 2024, compared to 207 ounces in Q3 2023.

What dividend did Sailfish Royalty (SROYF) pay in Q3 2024?

Sailfish Royalty declared a quarterly dividend of $0.0125 per common share, which was paid on October 15, 2024.

How many shares did Sailfish Royalty (SROYF) repurchase in the first nine months of 2024?

Sailfish Royalty repurchased 1,586,900 common shares under its normal course issuer bid during the first nine months of 2024.