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Metalla Royalty's losses narrow sharply as revenue soars

Last updated: 08:19 26 Oct 2018 EDT, First published: 03:19 26 Oct 2018 EDT

Chemical symbol for silver
Revenue is expected to fall somewhere between C$9mln and C$12mln, with roughly 95% of total revenue derived from silver.

Metalla Royalty and Streaming Ltd (CVE:MTA) was profitable at the pre-tax level in the three months to the end of August.

The investment company focused on royalty and revenue streams from investments in the mining sector made a pre-tax profit of C$79,229, compared to a loss of C$994,218 in the same period of 2017.

The loss after tax narrowed substantially to C$312,031 from C$1.01mln as revenue shot up to C$3,9mln from C$672,078 the previous year.

READ Metalla Royalty and Streaming shares nudge higher as it grows revenue and cash flow​

Adjusted underlying earnings (EBITDA) was positive, at C$1.73mln versus a loss the year before of C$79,270.

During the quarter, the company shipped and provisionally invoiced 221,433 attributable silver ounces (oz.) at an average realized price of US$15.48 (2017: US$16.78) and an average cash cost of US$6.52 (2017: US$7.09) per oz.

The company said total attributable silver production for the full-year is expected to be somewhere between 500,000 and 600,000 oz.

Revenue is expected to fall somewhere between C$9mln and C$12mln, with roughly 95% of total revenue derived from silver.

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