Sailfish Reports Annual and Q4 2023 Results
Sailfish Royalty Corp. reported its annual and Q4 2023 results, showcasing positive highlights such as earnings of 1,078 gold ounces from stream interests and royalty revenue of $261,106 for the year. The company also declared a quarterly dividend of $0.0125 per common share for Q1-Q4 2023. However, there was a net loss of $1,105,864 for the year. In Q4 2023, Sailfish earned 243 gold ounces and recorded $246,445 in royalty revenue. The company achieved a gross profit of $499,999 and a net income of $204,956 for the quarter. Despite these positive results, there was an overall decrease in total revenues from 2022 to 2023.
Earnings of 1,078 gold ounces from stream interests
Royalty revenue of $261,106 for the year
Declared quarterly dividend of $0.0125 per common share for Q1-Q4 2023
Gross profit of $499,999 for Q4 2023
Net income of $204,956 for Q4 2023
Net loss of $1,105,864 for the year
Decrease in total revenues from 2022 to 2023
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
$0.01 25 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
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
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
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