Business
Metalla Provides Corporate Update
Metalla Provides Corporate Update Canada NewsWire VANCOUVER, March 24, 2020 ...
About this update from Metalla Royalty & Streaming Ltd.
[{"type":"text","content":"\n\n\n\nMetalla Provides Corporate Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 24, 2020\n\n\n\nTSXV: MTA  \nNYSE AMERICAN: MTA\n VANCOUVER, March 24, 2020 /CNW/ - Metalla Royalty & Streaming Ltd. (\"Metalla\", \"we\" or the \"Company\") (TSXV: MTA) (NYSE American: MTA) is providing an update with respect to the unpredictable impacts and evolving news related to the COVID-19 pandemic, and on the Company's cash dividend program.\n\n \n \n \n \n \n \n\n \nARGENTINA ROYALTIES\nAs disclosed by Pan American Silver Corp. (\"Pan American\") by news release on March 23, 2020, operations at Pan American's COSE and Joaquin mines in Argentina have been temporarily suspended in order to comply with a mandatory national quarantine. The government of Argentina imposed the quarantine in response to the COVID-19 pandemic and stated that it will be in effect until March 31, 2020. \nThe impact of these suspensions on mining production levels and resulting cash flow to Metalla is difficult to predict. COSE and Joaquin were both expected to be ramping up production in the first half of 2020.  While we expect near-term cash flow on Metalla's royalties on these assets to be lighter than previously anticipated, we believe the Company's balance sheet is more than adequate to sustain any extended suspension at the COSE and Joaquin mines.\nWhile Metalla has not received any notification of closures at any of the other mine sites on which we hold royalties, we believe it is reasonable to expect that actions taken to reduce the spread of the COVID-19 pandemic will affect global mining production levels during 2020.\nMetalla will continue to monitor the situation and update the market if additional information is available.\nDIVIDEND SCHEDULE\nDeclared dividends will continue for April and May 2020 (as set out in the schedule in the Company's news release dated February 20, 2020). Going forward, the board will continue to monitor the impact of the COVID-19 pandemic and assess whether or not any future dividend decla...