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Metalla Royalty and Streaming increases production guidance for silver ounces for fiscal 2018

Gross provisional sales are expected to be between C$8.5mln and C$9.5mln, while net revenue is expected to between C$5.5mln and C$6.5mln.
Metalla Royalty and Streaming increases production guidance for silver ounces for fiscal 2018
Gross provisional sales are expected to be from C$8.5mln to C$9.5mln in fiscal 2018

Metalla Royalty and Streaming Ltd (CNSX:MTA), the precious metals group, forecasts total silver output attributable to the firm for 2018 of between 450,000 and 500,000 ounces.

It came as the company put out its second quarter results to end November.

Gross provisional sales are expected to be from C$8.5mln to C$9.5mln, while net revenue is expected to between C$5.5mln and C$6.5mln.

In the  three months to November 30, Metalla shipped and provisionally invoiced 158,865 attributable silver ounces at an average price of US$17.12 per ounce.

It generated cash margin of US$9.80 per attributable silver ounce from the Endeavor silver stream and New Luika gold mine (NLGM) stream held by Silverback Ltd.

In the  second quarter, revenue from stream interest was around $3.066mln, while the net loss for the period was $440,105 - down from a loss of around $1.013mln in the preceding quarter.

The group held 16,909 attributable silver ounces as inventory on the reporting date to be realized in the subsequent quarter.

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