|METALLA’s PRODUCTION RESULTS AND GUIDANCE FOR FY 2018 & 2019
$MTAFF, $SLV, $GLD
Metalla Royalty & Streaming Ltd. announced preliminary production results for the 12 months ended 31 May 2018 of 519,791 oz of attributable Silver, where 429,315 oz. were sold and provisionally invoiced and 90,476 oz. remained as inventory to be realized in the subsequent Quarter.
Total production exceeded management guidance expectations for FY 2018. Sales were slightly below expectations primarily due to abnormally high inventory held by the Endeavor mine operator at fiscal year-end during its smelter contract re-negotiations.
Metalla expects FY 2018 audited financial statements and MD&A to be released in September 2018.
FY 2019 Outlook
The Company is forecasting the following for FY 2019
- Attributable Silver equivalent production is expected to be 500,000 to 600,000 oz.;
- Revenue is expected to be C$9,000,000 to C$12,000,000;
- Increase in production from FY 2018 of approximately 10% – 20%; and
- Approximately 95%+ of total revenue expected to be generated from Silver.
Brett Heath, Metalla’s President/CEO said, “Fiscal 2018 marks our 1st full year of production. Our robust development pipeline and additional future transactions will set the stage an exciting FY 2019 for our shareholders. We will continue to grow our Company and focus on the transactions that will translate into the highest per share value for each investor.”
Metalla is a precious metals royalty and streaming company. Metalla provides shareholders with precious metal exposure through a diversified portfolio of royalties and streams. Our strong foundation of current and future cash-generating asset base, combined with an experienced team gives Metalla a path to become one of the leading precious metal royalty and streaming companies for the next commodities cycle.
||27 June 2018