Sailfish Reports Annual and Q4 2024 Results
April 25, 2025 7:00 AM EDT | Source: Sailfish Royalty Corp.
Tortola, British Virgin Islands--(Newsfile Corp. - April 25, 2025) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce its operating and financial results for the year and fourth quarter ended December 31, 2024 ("Q4 2024"). All amounts are in U.S. dollars unless otherwise indicated.
2024 Highlights:
- Gold ounces earned from stream interests of 782 for the year ended December 31, 2024 (2023 - 1,078);
- Royalty revenue earned of $974,644 for the year ended December 31, 2024 (2023 - $261,106);
- The Company received and sold 160,067 ounces of silver (2023 - 96,433 ounces) relating to its Silver Receivable for proceeds of $4,404,493 for the year ended December 31, 2024 (2023 - $2,217,488);
- Total revenues of $2,839,933 for the year ended December 31, 2024 (2023 - $2,333,092);
- Gross profit of $1,866,811 for the year ended December 31, 2024 (2023 - $1,391,272);
- Net income of $550,033 for the year ended December 31, 2024 (2023 - net loss of $1,105,864);
- Repurchased for cancellation an aggregate of 1,836,300 common shares of the Company under the current normal course issuer bid for the year ended December 31, 2024 (2023 - 1,080,400); and
- Declared a Q1 2024, Q2 2024, Q3 2024 and Q4 2024 quarterly dividend of $0.0125 per common share which were paid on April 15, 2024, July 15, 2024, October 15, 2024 and January 15, 2025, respectively.
Summary of Annual Results:
| Year ended December 31, 2024 | Year ended December 31, 2023 | ||||||
| Consolidated statements of Income (loss) and comprehensive Income (loss) | $ | $ | |||||
| | |||||||
| | Revenues | 2,839,933 | 2,333,092 | ||||
| Gross profit | 1,866,811 | 1,391,272 | |||||
| Net income (loss) | 550,033 | (1,105,864 | ) | ||||
| Net income (loss) per share from continuing operations (basic and diluted) | 0.01 | (0.01 | ) | ||||
Q4 2024 Highlights:
- Gold ounces earned from stream interests of 111 for the three months ended December 31, 2024 (2023 - 243);
- Royalty revenue earned of $432,871 for the three months ended December 31, 2024 (2023 - $246,445);
- Total revenues of $725,712 for the three months ended December 31, 2024 (2023 - $712,988);
- Gross profit of $ $599,002 for the three months ended December 31, 2024 (2023 - $499,999); and
- Net loss of $601,824 for the three months ended December 31, 2024 (2023 - net income of $204,956).
Summary of Quarterly Results:
| | Three months ended December 31, 2024 | Three months ended December 31, 2023 | |||||
| Condensed interim consolidated statements of income (loss) and comprehensive income (loss) | $ | $ | |||||
| | Revenues | 725,712 | 712,988 | ||||
| Gross profit | 599,002 | 499,999 | |||||
| Net income (loss) | (601,824 | ) | 204,956 | ||||
| Net income (loss) per share from continuing operations (basic and diluted) | (0.01 | ) | 0.00 | ||||
For complete details, please refer to the Annual Consolidated Financial Statements for the years ended December 31, 2024 and 2023 and associated Management Discussion and Analysis for the year ended December 31, 2024, available on SEDAR+ (www.sedarplus.ca) or on the Company's website (www.sailfishroyalty.com).
Subsequent to Q4 2024 Highlights:
On February 25, 2025, the Company declared a dividend of $0.0125 per common share which was paid on April 15, 2025 and announced a dividend reinvestment plan. The total dividend payment resulted in the issuance of 433,359 common shares and a payment of $371,500.
Subsequent to December 31, 2024, Sailfish purchased 518,000 common shares on-market of which 346,200 have been cancelled.
Subsequent to December 31, 2024, the Company received 54,000 ounces of silver pertaining to its Silver Receivable.
On April 8, 2025, in accordance with the terms of the Convertible Debentures, the Company provided thirty days written notice to each holder notifying them that the Company is exercising its option to convert the outstanding convertible indebtedness into common shares of the Company.
About Sailfish
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are three main assets in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold mine (~3.5 sq. km) and a 2% NSR on the rest of the area (~134.5 sq. km) surrounding San Albino in northern Nicaragua; an up to 3% NSR on the multi-million ounce Spring Valley gold project in Pershing County, Nevada; and a 100% interest in the Gavilanes Silver Project located in Durango State, Mexico (currently in the process of being converted into a 2% net smelter royalty).
Sailfish is listed on the TSX Venture Exchange under the symbol "FISH" and on the OTCQX under the symbol "SROYF". Please visit the Company's website at www.sailfishroyalty.com for additional information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249745
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