Sailfish Royalty Reports Q3 Revenues Of US$0.6 Million, Positive Net Income
Sailfish Royalty Corp (TSXV: FISH) this morning released its financial results for the third quarter of 2021. The gold royalty firm reported revenues of US$0.6 million, along with a net income of $3.1 million.
Revenues for the quarter were up substantially following its flagship asset, the royalty on Mako Mining’s (TSXV: MKO) San Albino Gold Mine, entering commercial production at the middle of July. Revenues hit $0.6 million for the quarter, while year to date revenues are sitting at $0.8 million.
Gross profit meanwhile totaled $0.3 million, following cost of sales and depletion from its gold streams. Operating expenses hit $0.7 million for the quarter, demonstrating how early the royalty company is in hitting its stride. The largest expenses for the quarter was share based compensation of $0.2 million, followed by professional fees of just over $0.1 million.
The largest impact this quarter came from the gain on disposal of assets to the tune of $3.9 million, which was partially offset by impairments to royalty assets of $0.6 million. The firm overall posted a net income of $3.0 million for the quarter as a result.
Despite the operating loss, the company this quarter also launched a dividend to shareholders, which at $0.0125 per quarter, represents a yield of roughly 4% currently. The company currently has a cash position of $3.8 million.
Sailfish Royalty last traded at $1.49 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
