Business
Star Royalties Reports Q2 2023 Financial Results
(TheNewswire) Toronto, ON - TheNewswire - August 23, 2023 - Star Royalties ...
About this update from Star Royalties Ltd
[{"type":"text","content":"Star Royalties Reports Q2 2023 Financial Results\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Toronto, ON\n \n \n -\n \n \n TheNewswire -\n \n \n August 23,\n2023 -\n \n \n Star Royalties\nLtd.\n \n (“\n \n Star\nRoyalties\n \n ”, or the “\n \n Company\n \n ”)\n \n (TSXV:STRR\n \n \n )\n \n \n (\n \n \n OTC:STRFF)\n \n is pleased to report its financial results for the\nquarter ended June 30, 2023. All amounts are in U.S. dollars, unless\notherwise indicated.\n \n \n \n Q2 2023 Corporate and Portfolio\nHighlights\n \n \n \n \n \n \n Quarterly revenues of $188,033, representing a 31%\ndecline over the previous quarter due to timing and lower volume of\nmineral sands sales at Keysbrook.\n \n \n \n \n \n \n Quarterly net loss of $1,048,574 was negatively\nimpacted by the recognition of a $418,800 equity loss from the Green\nStar Royalties Ltd. joint venture (\n \n \n Green Star\n \n \n ”),\ndriven primarily by foreign currency translation.\n \n \n \n \n \n \n Green Star’s flagship regenerative agriculture carbon\nfarming program continues to grow from inbound farmer interest and is\napproaching its official listing under\n \n \n Verra’s\nMethodology for Improved Agricultural Land Management, v2.0\n(VM0042).\n \n \n \n \n \n \n MOBISMART Mobile Off-Grid Power Storage Inc.\n(\n \n \n MOBISMART\n \n \n ”) continues to expand sales volumes and customer\npipeline.\n \n \n \n \n \n Alex Pernin, Chief Executive Officer of Star Royalties, commented:\n“During the second quarter of 2023, our team worked diligently to\nposition both Star Royalties and Green Star for upcoming success. We\nbelieve that these efforts should translate to shareholder value\nacross the coming months. Management continued to refine Green\nStar’s premium pipeline of opportunities, while also working closely\nwith individual management teams across our investment portfolio to\nfurther de-risk their respective assets. Keysbrook performed in-line\nwith internal expectations, despite the timing-related lower shipment\nvolumes, and Copperstone’s Preliminary Economic Assessment\ndemonstrated robust economics that we view as not reflected in that\nasset’s valuation. As Green Star’s flagship regenerative\nagriculture program cont...