METALLA: RECORD QUARTERLY PRODUCTION, MONTHLY DIVIDEND, AND RAISED GUIDANCE
Metalla Royalty & Streaming Ltd (CSE:MTA) (OTCQX:MTAFF) (FRANKFURT:X9CP) announces preliminary production results for the 3 months ended November 30, 2017 of 158,865 oz of Silver shipped and provisionally invoiced.
In addition, Metalla held 25,906 oz of Silver of attributable inventory at the end of the Quarter, to be realized in the subsequent Quarter.
Metalla expects Q-2 financial statements and MD&A to be released in January 2018.
Metalla is pleased to announce that its Board of Directors has approved and declared a monthly cash dividend payment of CAD$ 0.001/share on its common shares for the upcoming Quarter.
The monthly record and payment date is set out in the table below starting in January 2018, and will be made to shareholders of record as set out below.
The Company plans to expand this dividend over Y 2018, with the goal of paying out 50% of its after tax and G&A operating cash flow.
It is the intention of the Company that the dividend amount will be linked to the Gold andSilver price and operating cash flow the Company’s royalties and streams generate.
It will be adjusted Quarterly to represent any new cash flowing assets currently under development and to reflect any changes in the Gold and Silver price.
|Record Date||Payment Date||Payment Amount ($CAD)|
|January||January 3, 2018||January 15, 2018||$0.001|
|February||February 1, 2018||February 15, 2018||$0.001|
|March||March 1, 2018||March 15, 2018||$0.001|
In the future, and assuming compliance with all applicable securities laws, the Company plans to offer a Dividend Reinvestment Plan (“DRIP”) once it reaches certain requirements to efficiently provide the DRIP to all of its shareholders globally.
Metalla is raising its production guidance for its fiscal year ended May 31, 2018 to 450,000 to 500,000 oz of Silver from its previously stated 400,000 to 470,000 oz.
This is primarily due to higher Silver production and recoveries at the Endeavor Mine. The operator is also engaged in an active exploration and expansion drilling program with the goal of increasing the life of mine.
Brett Heath, Metalla’s President & CEO said Tuesday that, “For the 2nd Quarter of FY 2018, our revenue and cash flow from sales are expected to grow significantly compared to the previous quarter. That growth reflects the Endeavor Mine achieving a full Quarter of normalized production.” Mr. Heath added, “It is with great satisfaction that we have achieved a goal of paying a dividend that we set out to accomplish when we started just over a year ago. This demonstrates to the market Metalla’s strict discipline and proven strategy of acquiring royalty and streaming assets, building real accretive value, and now being able to share that with every owner of the Company. We continue to seek accretive acquisitions to build the Company’s value on a per share basis.”
The technical information contained herein has been reviewed and approved by Charles Beaudry, geologist M.Sc., member of the Association of Professional Geoscientists of Ontario and of the Ordre des Géologues du Québec and a director of Metalla. Mr. Beaudry is a QP as defined in “National Instrument 43-101 Standards of disclosure for mineral projects.
Metalla is a precious metals royalty and streaming company providing shareholders with leveraged precious metal exposure through a diversified portfolio of royalties and streams. Metalla’s strong foundation of current and future cash-generating asset base, combined with an experienced team gives the Company a path to become one of the leading Gold and Silver companies for the next commodities cycle.
For further information please visit our website at www.metallaroyalty.com