Business
Sailfish Reports Q2 2023 Results
Tortola, British Virgin Islands--(Newsfile Corp. - August 24, 2023) - Sailfish Royalty Corp. (TSX...
About this update from Sailfish Royalty Corp.
[{"type":"text","content":"Sailfish Reports Q2 2023 ResultsTortola, British Virgin Islands--(Newsfile Corp. - August 24, 2023) - 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, 2023 (\"Q2 2023\"). All amounts are in U.S. dollars unless otherwise indicated.Q2 2023 Highlights:Gold ounces earned of 268 and 628 for the three and six months ended June 30, 2023 (345 and 734 for the three and six months ended June 30, 2022);Revenues of $$529,648 and $1,206,126 for the three and six months ended June 30, 2023 ($646,859 and $1,369,424 for the three and six months ended June 30, 2022);Gross profit of $292,348 and $658,528 for the three and six months ended June 30, 2023 ($349,757 and $713,017 for the three and six months ended June 30, 2022);Net loss of $434,676 and $1,044,232 for the three and six months ended June 30, 2023 (net loss of $885,833 and $682,380 for the three and six months ended June 30, 2022);Repurchased for cancellation an aggregate of 322,200 common shares of the Company under the current normal course issuer bid for the six months ended June 30, 2023; andDeclared quarterly dividends of $0.0125 per common share on March 14, 2023 and June 13, 2023, which were paid on April 17, 2023 and July 17, 2023, respectively. Paolo Lostritto, Chief Executive Officer of Sailfish states that, \"During Q2 2023, Sailfish received and sold 628 ounces of gold from the gold stream equivalent to a 3% NSR on the San Albino gold mine. In addition to the gold ounces received from the gold stream, the Company received and sold 68,240 ounces of silver from its loan receivable for proceeds of approximately $1.6M which represented 57% of the Company's cash inflow for the six months ended June 30, 2023. Based on the Silver Purchase Agreement secured during the first half of the year, we expect increased leverage to the price of silver during the second half of 2023. The Company continues to return its capital to shareholders through its quarterly dividend payment and NCIB purchases.\"Summary of Quarterly Results:Three months ended June 30, 2023Three months ended June 30, 2022Six months ended June 31, 2023Six months ended June 31, 2022Condensed interim consolidatedstatements of comprehensive loss $$Revenues 529,648646,8591,206,1261,369,424Gross ...