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Star Royalties Reports Q2 2024 Financial Results
TORONTO, ON / ACCESSWIRE / August 21, 2024 / Star Royalties Ltd. (" Star Royalties ", or the "...
About this update from Star Royalties Ltd
[{"type":"text","content":"Star Royalties Reports Q2 2024 Financial ResultsTORONTO, ON / ACCESSWIRE / August 21, 2024 / Star Royalties Ltd. (\" Star Royalties \", or the \" Company \") (TSXV:STRR)(OTCQX:STRFF) is pleased to report its financial results for the quarter ended June 30, 2024. All amounts are in U.S. dollars, unless otherwise indicated.Q2 2024 Financial and Corporate HighlightsQuarterly revenues of $266,306 represented a 42% increase over the prior-year period due to higher sales volumes at Keysbrook.Green Star Royalties Ltd. (\" Green Star \") expanded its North American nature-based investment portfolio by acquiring several U.S. Improved Forest Management (\" IFM \") carbon offset royalties for $5.6 million. Green Star received its first carbon offset delivery and carbon offset monetization efforts are ongoing.Green Star and its project partners continued to advance the CarbonNOW regenerative agriculture program. CarbonNOW is now in the late stages of the validation phase with the verification phase expected to commence later in 2024.Gold Mountain Mining Corp. (\" Gold Mountain \") (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) announced several corporate improvements and debt restructuring initiatives aimed at reestablishing Elk Gold's mine plan and longer-term production potential.Summary of Q2 2024 Financial Results Quarter ended Quarter ended June 30, 2024 June 30, 2023 Revenue $266,306 $188,033 Net loss (567,350) (1,048,574)Basic and diluted loss per share (0.01) (0.01)Cash flow used in operating activities (253,271) (177,332)Cash flow from investing activities - - Cash flow from financing activities - - For complete details, please refer to the Condensed Interim Consolidated Financial Statements and associated Management Discussion and Analysis for the three and six months ended June 30, 2024, available on SEDAR+ at sedarplus.c a or on the Company's website at starroyalties.com .Alex Pernin, Chief Executive Officer of Star Royalties, commented: \"During the second quarter of 2024, we were proud to announce Green Star's acquisition of a carbon offset royalty portfolio on several of NativState's high-integrity IFM projects in the southeastern United States. Green Star received its first delivery of carbon offsets from this investment and we are now enroute to monetizing these through a third-party broker. Separately, Green Star and its project partne...