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Star Royalties Reports Q2 2022 Financial Results, Record Quarterly Revenues and $18.6M Gain on Deconsolidation of Green Star Royalties
(TheNewswire) August 24, 2022 – TheNewswire - TORONTO, ON – ...
About this update from Star Royalties Ltd
[{"type":"text","content":"Star Royalties Reports Q2 2022 Financial Results, Record Quarterly Revenues and $18.6M Gain on Deconsolidation of Green Star Royalties\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n August 24, 2022 –\n \n \n TheNewswire -\n \n \n TORONTO, ON –\n \n \n Star Royalties Ltd.\n \n \n (“\n \n \n Star Royalties\n \n \n ”, or the “\n \n \n Company\n \n \n ”) (TSXV:STRR\n \n \n )\n \n \n ,\n \n \n (\n \n \n OTC:STRFF) is pleased to report its financial results for the\nquarter ended June 30, 2022. All amounts are in U.S. dollars unless\notherwise indicated.\n \n \n \n \n Q2 2022 Corporate and Financial\nHighlights\n \n \n \n \n \n \n Record quarterly revenue, with a 26% increase over the\nprior-year quarter.\n \n \n \n \n \n \n Strategic investment by Agnico Eagle Mines Limited\n(\n \n \n Agnico Eagle\n \n \n ”) (NYSE, TSX: AEM) into Green Star Royalties\n(“\n \n \n Green Star\n \n \n ”) was completed in May 2022, with Star Royalties now a\n61.9% owner of Green Star.\n \n \n \n \n \n \n The Elk Gold mine became the Company’s second\nproducing royalty asset.\n \n \n \n \n \n \n Recognized an $18.6 million gain on the deconsolidation\nof Green Star.\n \n \n \n \n \n \n Alex Pernin, Chief Executive Officer of Star Royalties,\ncommented: “During the second quarter of 2022, Star Royalties took\nsignificant steps towards unlocking the value of both our green and\nprecious metals royalty and streaming platforms. We crystallized the\ngrowing value of Green Star through the closing of a private placement\nby Agnico Eagle and expanded Green Star’s flagship regenerative\nagriculture carbon royalty more than fourfold. We also achieved record\nquarterly royalty revenues as the Elk Gold mine became our second\nproducing royalty asset and as Keysbrook continued to generate royalty\ncash flows greater than our internal expectations. We look forward to\nthe remainder of 2022 as we continue to unlock further Green Star\nvalue by building out its pipeline and by enhancing our team with\ncarbon project development expertise.\n \n \n ”\n \n \n \n \n \n \n Summary of Q2 2022 Financial\nResult\n \n \n s\n \n \n \n \n \n \n \n \n \n \n Quarter ended\n \n \n \n \n Quarter ended\n \n \n \n \n \n \n \n \n \n \n June 30, 2022\n \n \n \n \n June 30, 20...