In This Article:
Tortola, British Virgin Islands--(Newsfile Corp. - August 21, 2024) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce its operating and financial results for the second quarter ended June 30, 2024 ("Q2 2024"). All amounts are in U.S. dollars unless otherwise indicated.
Q2 2024 Highlights:
-
Gold ounces earned from stream interests of 365 and 456 for the three and six months ended June 30, 2024 (268 and 628 for the three and six months ended June 30, 2023);
-
Royalty revenue earned of $167,844 and $329,831 for the three and six months ended June 30, 2024 ($nil for the three and six months ended June 30, 2023);
-
Total revenues of $1,026,242 and $1,384,197 for the three and six months ended June 30, 2024 ($529,648 and $1,206,126 for the three and six months ended June 30, 2023);
-
Gross profit of $565,681 and $813,768 for the three and six months ended June 30, 2024 ($292,348 and $658,528 for the three and six months ended June 30, 2023);
-
Net income of $1,141,470 and $1,289,505 for the three and six months ended June 30, 2024 (net loss of $434,676 and $1,044,232 for the three and six months ended June 30, 2023);
-
Repurchased for cancellation an aggregate of 983,400 common shares of the Company under the current normal course issuer bid for the six months ended June 30, 2024 (322,200 for the six months ended June 30, 2023); and
-
Declared quarterly dividends of $0.0125 per common share on March 22, 2024 and May 28, 2024, which were paid on April 15, 2024 and July 15, 2024, respectively.
Summary of Quarterly Results:
| | | Three months ended June 30, 2024 | Three months ended June 30, 2023 | | Six months ended June 31, 2024 | Six months ended June 31, 2023 | | ||||||
| Condensed interim consolidated statements of comprehensive income (loss) | |
|
| | $ | $ | | ||||||
| | |
|
| |
|
| | ||||||
| Revenues | | 1,026,242 | 529,648 | | 1,384,197 | 1,206,126 | | ||||||
| Gross profit | | 565,681 | 292,348 | | 813,768 | 658,528 | | ||||||
| Net income (loss) | | 1,141,470 | (434,676 | ) | 1,289,505 | (1,044,232 | ) | ||||||
| Basic loss per share | | 0.02 | (0.01 | ) | 0.02 | (0.01 | ) | ||||||
| Diluted loss per share | | 0.02 | (0.01 | ) | 0.02 | (0.01 | ) |
For complete details, please refer to the Unaudited Condensed Interim Consolidated Financial Statements for the three and six months ended June 30, 2024 and 2023 and associated Management Discussion and Analysis for the three and six months ended June 30, 2024, available on SEDAR+ (www.sedarplus.ca) or on the Company's website (www.sailfishroyalty.com).
Subsequent to Q2 2024 Highlights:
-
On July 19, 2024, the Company announced that the TSX-V had accepted a notice filed by the Company of its intention to make a normal course issuer bid to be transacted through the facilities of the TSXV. The notice provides that the Company may, during the 12-month period commencing July 22, 2024 and ending July 21, 2025, purchase up to 3,539,756 common shares of the Company in total, being approximately 5% of the total number of shares outstanding as at July 16, 2024.