Business
Sailfish Reports Q1 2023 Results
Tortola, British Virgin Islands--(Newsfile Corp. - May 29, 2023) - Sailfish Royalty Corp. (TSXV: ...
About this update from Sailfish Royalty Corp.
[{"type":"text","content":"Sailfish Reports Q1 2023 ResultsTortola, British Virgin Islands--(Newsfile Corp. - May 29, 2023) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the \"Company\" or \"Sailfish\") is pleased to announce its operating and financial results for the first quarter ended March 31, 2023 (\"Q1 2023\"). All amounts are in U.S. dollars unless otherwise indicated.Q1 2023 Highlights:Gold ounces earned of 360 for the three months ended March 31, 2023;Revenues of $676,478 for the three months ended March 31, 2023;Gross profit of $366,181 for the three months ended March 31, 2023;Net loss of $609,557 for the three months ended March 31, 2023;Repurchased for cancellation an aggregate of 93,600 common shares of the Company under the current normal course issuer bid for the three months ended March 31, 2023; andDeclared a quarterly dividend of $0.0125 per common share which was paid on April 17, 2023. Paolo Lostritto, Chief Executive Officer of Sailfish, states that, \"During Q1 2023, Sailfish received and sold 360 ounces of gold from the gold stream equivalent to a 3% NSR on the San Albino gold mine. Now that the Company has closed the recently announced silver stream (see press released dated May 25, 2023), the Company expects a commensurate increase in silver-related revenue starting this month.\"Summary of Q1 2023 Results:Three months ended March 31, 2023Three months ended March 31, 2022 Condensed interim consolidated statements of comprehensive income $$Revenues 676,478722,564Gross profit366,181363,259Net income (loss) (609,557)203,454Basic earnings (loss) per share(0.01)0.01Diluted earnings (loss) per share(0.00)0.00 For complete details, please refer to the Unaudited Condensed Interim Consolidated Financial Statements for the three months ended March 31, 2023 and 2022 and associated Management Discussion and Analysis for the three months ended March 31, 2023, available on SEDAR (www.sedar.com) or on the Company's website (www.sailfishroyalty.com). Subsequent to Q1 2023 Highlights:On May 25, 2023, the Company announced the closing of the silver stream with Mako Mining Corp. (\"Mako\") whereby the Company acquired a 24-month silver stream for $6 million in cash and an option to purchase subsequent silver produced from the San Albino mine or from concessions currently owned by Mako and processed through Mako's San Albino proces...