Metalla Royalty & Streaming Ltd (CVE:MTA) (OTCMKTS:MTAFF) said its fiscal 2019 was a “transformational year” for the precious metals company as it boosted the revenue stream from its royalty portfolio.
The Vancouver-based company more than doubled the size of its royalty portfolio to 42 projects, including two mines currently in production.
Revenue for the year came in at nearly C$7.9 million, up from C$7.3 million during fiscal 2018.
During 2019, the company added key royalties on Agnico Eagle Mines Ltd’s Santa Gertrudis project, Pan American Silver Corp’s Cap-Oueste Sur East project and two net smelter return (NSR) royalties on St Barbara Ltd’s Fifteen Mile Stream project.
Other highlights on the year included acquiring a package of royalties or options from Alamos Gold, which includes royalties on Agnico’s El Realito project and Monarch Gold Corp’s Wasamac project.
On the financing front, Metalla raised nearly C$6.8 million in an oversubscribed public placement and entered into a C$12 million convertible debt facility with Beedie Capital.
Metalla CEO Brett Heath also said that the company’s fiscal 2020 is shaping up to be a milestone year.
"Looking forward, we expect fiscal 2020 to be another pivotal year for Metalla as we continue to scale our business and grow our royalty portfolio into what we believe will be one of the most exciting growth stories for this next commodity cycle,” Heath told investors in a statement.
The company paid an aggregate dividend of C$1.8 million to shareholders during the 12-month period.
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