Sailfish Royalty（FISH）株式概要Sailfish Royalty Corp.は、貴金属ロイヤリティとストリーミング契約の取得に従事している。 詳細FISH ファンダメンタル分析スノーフレーク・スコア評価0/6将来の成長5/6過去の実績2/6財務の健全性2/6配当金1/6報酬収益は年間71.23%増加すると予測されています 過去5年間の収益は年間26.2%増加しました。 リスク分析1.74%の配当は、利益やフリーキャッシュフローによって十分にカバーされていない 利払いは収益で十分にカバーされない 過去3か月間に大規模なインサイダー売却が発生 意味のある収益がありません ( $3M )+1 さらなるリスクすべてのリスクチェックを見るFISH Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueCA$Current PriceCA$3.9578.1% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-5m33m2016201920222025202620282031Revenue US$33.5mEarnings US$12.5mAdvancedSet Fair ValueView all narrativesSailfish Royalty Corp. 競合他社Orvana MineralsSymbol: TSX:ORVMarket cap: CA$303.3mWest Red Lake Gold MinesSymbol: TSXV:WRLGMarket cap: CA$276.7mRoxmore ResourcesSymbol: TSX:RMMarket cap: CA$268.6mGreenheart GoldSymbol: TSXV:GHRTMarket cap: CA$270.0m価格と性能株価の高値、安値、推移の概要Sailfish Royalty過去の株価現在の株価CA$3.9552週高値CA$5.2552週安値CA$1.92ベータ-0.311ヶ月の変化10.34%3ヶ月変化-8.14%1年変化90.82%3年間の変化307.22%5年間の変化192.59%IPOからの変化229.17%最新ニュースReported Earnings • Apr 26Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: US$0.017 (up from US$0.015 in FY 2024). Revenue: US$3.38m (up 19% from FY 2024). Net income: US$1.26m (up 21% from FY 2024). Profit margin: 37% (in line with FY 2024). Revenue exceeded analyst estimates by 125%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Revenue is forecast to grow 58% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth.New Risk • Apr 26New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 451% Dividend per share is over 8x cash flows per share. Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (CA$3.9m sold). Revenue is less than US$5m (US$3.4m revenue).Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Director Asheef Lalani was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Mar 25Mako Us Corp. completed the acquisition of Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH).Mako Us Corp. entered into a binding term sheet to acquire Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) on September 27, 2025. In a related transaction, Sailfish Royalty Corp. (TSXV:FISH) entered into membership interest purchase agreement to acquire Mt. Hamilton LLC from Mt. Hamilton Holdings LLC for $40 million on September 26, 2025. The Term Sheet between Sailfish and Mako provides for the transfer of 100% of MH LLC to Mako in exchange for consideration consisting of a gold stream, under which Sailfish will purchase approximately 341.7 troy ounces of gold per month from Mako at a price equal to 20% of the London Bullion Market Association PM Fix for a period of 60 months commencing immediately following the closing of the acquisition transaction, as well as a net smelter return royalty to be granted upon completion of the stream period. Mako Us Corp. entered into a definitive purchase and sale agreement to acquire Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) for $40 million on November 26, 2025. Pursuant to the terms of the Purchase Agreement, Mako US has appointed and directed Sailfish, as its nominee, agent and bare trustee, to use the aggregate $40 million purchase price paid by Sailfish for the Gold Stream and the NSR Royalty to fund the purchase price for the Acquisition. The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders, approval of offer by acquirer board, approval of offer by target shareholders and definitive agreement. As of February 18, 2026, The Board of Directors of Mako unanimously approved the deal. On March 3, 2026, Mako Mining and Sailfish Royalty Corp. shareholders approved the Mt. Hamilton Acquisition. The outside date for Closing is March 16, 2026, or such other date as may be agreed in writing by the parties. Stifel Nicolaus Canada Inc. acted as financial advisor and fairness opinion provider for Mako Us Corp and was paid a $72,644.30 (CAD100,000) for financial advisory fee. Cassels Brock & Blackwell LLP acted as legal advisor for Mako Us Corp. Spencer Fane LLP acted as legal advisor for Mako Us Corp. Computershare Trust Company of Canada acted as information agent for Mako. Mako Us Corp. completed the acquisition of Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) on March 24, 2026.Recent Insider Transactions • Mar 01Chief Financial Officer recently sold CA$880k worth of stockOn the 27th of February, Bryan McKenzie sold around 220k shares on-market at roughly CA$4.00 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Bryan has been a net seller over the last 12 months, reducing personal holdings by CA$876k.Major Estimate Revision • Feb 25Consensus forecasts updatedThe consensus outlook for fiscal year 2025 has been updated. Metals and Mining industry in Canada expected to see average net income growth of 29% next year. Consensus price target up from CA$4.23 to CA$4.51. Share price fell 6.0% to CA$4.07 over the past week.最新情報をもっと見るRecent updatesReported Earnings • Apr 26Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: US$0.017 (up from US$0.015 in FY 2024). Revenue: US$3.38m (up 19% from FY 2024). Net income: US$1.26m (up 21% from FY 2024). Profit margin: 37% (in line with FY 2024). Revenue exceeded analyst estimates by 125%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Revenue is forecast to grow 58% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth.New Risk • Apr 26New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 451% Dividend per share is over 8x cash flows per share. Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (CA$3.9m sold). Revenue is less than US$5m (US$3.4m revenue).Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Director Asheef Lalani was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Mar 25Mako Us Corp. completed the acquisition of Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH).Mako Us Corp. entered into a binding term sheet to acquire Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) on September 27, 2025. In a related transaction, Sailfish Royalty Corp. (TSXV:FISH) entered into membership interest purchase agreement to acquire Mt. Hamilton LLC from Mt. Hamilton Holdings LLC for $40 million on September 26, 2025. The Term Sheet between Sailfish and Mako provides for the transfer of 100% of MH LLC to Mako in exchange for consideration consisting of a gold stream, under which Sailfish will purchase approximately 341.7 troy ounces of gold per month from Mako at a price equal to 20% of the London Bullion Market Association PM Fix for a period of 60 months commencing immediately following the closing of the acquisition transaction, as well as a net smelter return royalty to be granted upon completion of the stream period. Mako Us Corp. entered into a definitive purchase and sale agreement to acquire Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) for $40 million on November 26, 2025. Pursuant to the terms of the Purchase Agreement, Mako US has appointed and directed Sailfish, as its nominee, agent and bare trustee, to use the aggregate $40 million purchase price paid by Sailfish for the Gold Stream and the NSR Royalty to fund the purchase price for the Acquisition. The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders, approval of offer by acquirer board, approval of offer by target shareholders and definitive agreement. As of February 18, 2026, The Board of Directors of Mako unanimously approved the deal. On March 3, 2026, Mako Mining and Sailfish Royalty Corp. shareholders approved the Mt. Hamilton Acquisition. The outside date for Closing is March 16, 2026, or such other date as may be agreed in writing by the parties. Stifel Nicolaus Canada Inc. acted as financial advisor and fairness opinion provider for Mako Us Corp and was paid a $72,644.30 (CAD100,000) for financial advisory fee. Cassels Brock & Blackwell LLP acted as legal advisor for Mako Us Corp. Spencer Fane LLP acted as legal advisor for Mako Us Corp. Computershare Trust Company of Canada acted as information agent for Mako. Mako Us Corp. completed the acquisition of Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) on March 24, 2026.Recent Insider Transactions • Mar 01Chief Financial Officer recently sold CA$880k worth of stockOn the 27th of February, Bryan McKenzie sold around 220k shares on-market at roughly CA$4.00 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Bryan has been a net seller over the last 12 months, reducing personal holdings by CA$876k.Major Estimate Revision • Feb 25Consensus forecasts updatedThe consensus outlook for fiscal year 2025 has been updated. Metals and Mining industry in Canada expected to see average net income growth of 29% next year. Consensus price target up from CA$4.23 to CA$4.51. Share price fell 6.0% to CA$4.07 over the past week.お知らせ • Feb 25Sailfish Royalty Corp. Approves Dividend Policy to Increase Quarterly Dividends; Announces Dividend for the First Quarter of 2026, Payable on July 15, 2026Sailfish Royalty Corp. announced that the Board of Directors have approved a dividend policy increase for the Company under which the Company intends to pay quarterly dividends of USD 0.0375 per common share starting in the first quarter of 2026. The first quarterly dividend of USD 0.0375 per common share will be payable on July 15, 2026 to Sailfish shareholders of record as of the close of business on March 31, 2026.お知らせ • Dec 26Sailfish Royalty Corp., Annual General Meeting, Feb 10, 2026Sailfish Royalty Corp., Annual General Meeting, Feb 10, 2026. Location: british virgin islands, United KingdomRecent Insider Transactions Derivative • Dec 14Chief Financial Officer exercised options to buy CA$766k worth of stock.On the 10th of December, Bryan McKenzie exercised options to buy 221k shares at a strike price of around CA$1.25, costing a total of CA$277k. This transaction amounted to 98% of their direct individual holding at the time of the trade. Since March 2025, Bryan's direct individual holding has increased from 221.93k shares to 447.82k. Company insiders have collectively bought CA$714k more than they sold, via options and on-market transactions, in the last 12 months.お知らせ • Nov 28Sailfish Royalty Corp. (TSXV:FISH) acquired Mt. Hamilton LLC.Sailfish Royalty Corp. (TSXV:FISH) agreed to acquire Mt. Hamilton LLC for $40 million on September 27, 2025. A cash consideration of $40 million will be paid by Sailfish Royalty Corp. The transaction will be financed by entering into a commitment letter with Wexford Capital LP (the "Commitment Letter") for a senior secured bridge term facility in the aggregate amount of up to US$40 million The closing of the acquisition is subject to customary closing conditions, including acceptance of TSXV and is anticipated to close by November 30, 2025. Sailfish Royalty Corp. (TSXV:FISH) completed the acquisition of Mt. Hamilton LLC on November 27, 2025.Reported Earnings • Nov 23Third quarter 2025 earnings released: EPS: US$0.014 (vs US$0.002 loss in 3Q 2024)Third quarter 2025 results: EPS: US$0.014 (up from US$0.002 loss in 3Q 2024). Revenue: US$879.5k (up 21% from 3Q 2024). Net income: US$1.03m (up US$1.17m from 3Q 2024). Revenue is forecast to grow 93% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 65% per year, which means it is significantly lagging earnings growth.お知らせ • Oct 01Sailfish Royalty Corp. (TSXV:FISH) agreed to acquire Mt. Hamilton LLC for $40 million.Sailfish Royalty Corp. (TSXV:FISH) agreed to acquire Mt. Hamilton LLC for $40 million on September 27, 2025. A cash consideration of $40 million will be paid by Sailfish Royalty Corp. The transaction will be financed by entering into a commitment letter with Wexford Capital LP (the "Commitment Letter") for a senior secured bridge term facility in the aggregate amount of up to US$40 million The closing of the acquisition is subject to customary closing conditions, including acceptance of TSXV. The closing of the acquisition is anticipated to occur by November 30, 2025.Declared Dividend • Sep 12Second quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 29th September 2025 Payment date: 15th October 2025 Dividend yield will be 2.2%, which is about the same as the industry average. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 4 years but payments have been stable during that time.Reported Earnings • Aug 22Second quarter 2025 earnings released: EPS: US$0.003 (vs US$0.016 in 2Q 2024)Second quarter 2025 results: EPS: US$0.003 (down from US$0.016 in 2Q 2024). Net income: US$237.2k (down 79% from 2Q 2024). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth.Major Estimate Revision • Jul 17Consensus EPS estimates have been upgraded.The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$2.30m to US$2.40m. EPS estimate increased from US$0.00 per share to US$0.01 per share. Metals and Mining industry in Canada expected to see average net income growth of 39% next year. Consensus price target up from CA$2.48 to CA$2.74. Share price fell 4.0% to CA$2.38 over the past week.Upcoming Dividend • Jun 23Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 30 June 2025. Payment date: 15 July 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.9%. Lower than top quartile of Canadian dividend payers (6.1%). Higher than average of industry peers (1.4%).Reported Earnings • May 29First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: US$587.2k (up 64% from 1Q 2024). Net income: US$110.1k (down 26% from 1Q 2024). Profit margin: 19% (down from 41% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 20% per year.お知らせ • May 28Mako Mining Corp. Reports Initial Results from its 2025 Reverse Circulation Drill Program at the El Golfo Area Within the El Jicaro ConcessionSailfish Royalty Corp. reported that Mako Mining Corp. ("Mako") has reported initial results from its 2025 reverse circulation ("RC") drill program at the El Golfo area within the El Jicaro concession where Sailfish has a 2% net smelter return royalty ("NSR"). The 2025 exploration program at El Golfo comprises an initial 3,000 metres ("m") of RC drilling and is part of Mako's regional drill program on its district-scale, 224 km2 land package. Drill hole EJ25-RC53 (270/-60) intersected a wide, high-grade interval of 39.15 grams-per-tonne (" g/t") gold ("Au") and 27.8 g/t silver ("Ag") over 8.0 m (5.9 m estimated true width ("ETW"). It is important to highlight that this hole is 19.2 m below surface and falls within the concessions where Sailfish is intitled to a 2% NSR. Hole EJ25-RC53 tested a prominent NE-SW oriented structure interpreted from geochemical soil sampling and geological mapping of underground workings. This structural orientation is known to control gold mineralization at the San Albino and Las Conchitas deposits. Mako has completed 12 drill holes in the past month, targeting the Pavona zone, one of several drill targets situated within the El Golfo area. The other 10 drill holes of the initial drill program have also intersected zones with sulfide mineralization interpreted to be part of the same gold-bearing system. Assay results of these drill holes are pending and will be released by Mako as they become available. El Golfo is located less than a kilometre from the pits currently being mined at Las Conchitas. In addition, Mako released results from 91 drill holes on May 14th, 2025, that extended the footprint of mineralization around several key zones at the Las Conchitas operation. Drilling was highlighted by: 117.98 g/t Au and 37.0 g/t Ag over 2.0 m (1.7 m ETW) - Cruz Grande/El Limon Vein. 14.76 g/t Au and 13.67 g/t Ag over 3.0 m (2.6 m ETW) - Intermediate Vein. 18.14 g/t Au and 9.5 g/t Ag over 7.0 m (6.7 m ETW), Mina Francisco Vein. 29.57 g/t Au and 66.7 g/t Ag over 3.,0 m (2.6m ETW) - Mina Francisco Vein. 24.59 g/t Au and 10.2 g/t Ag over 4.0 m (3.1 m ETW) - Mina San Francisco Vein. 24.95 g/t Au and 28.9 g/t Ag over 4.,0 m (3.9 m ETW) - Bayacun Vein (LMB Pit) Paolo Lostritto, Chief Executive Officer of Sailfish states that, "The ability for our partner to make new discoveries in this region whilst simultaneously expanding resources, net of mine depletion, bodes well for the value of our royalties and streams in this region. New discoveries increase the likelihood of resource expansion and improves the chances of extending the duration of cash flow and overall leverage to future precious metal prices. We look forward to underground test mining later this year at San Albino, the subsequent maiden resource at El Golfo and a resource update at Las Conchitas when available".Declared Dividend • May 18Fourth quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 30th June 2025 Payment date: 15th July 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is not covered by earnings (342% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 4 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 280% to bring the payout ratio under control. However, EPS is expected to decline by 36% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.Reported Earnings • Apr 27Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: US$0.015 (up from US$0.016 loss in FY 2023). Revenue: US$2.84m (up 22% from FY 2023). Net income: US$1.03m (up US$2.14m from FY 2023). Profit margin: 36% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 67%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.Upcoming Dividend • Mar 24Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 31 March 2025. Payment date: 15 April 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.2%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (1.6%).Declared Dividend • Mar 02Third quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 31st March 2025 Payment date: 15th April 2025 Dividend yield will be 4.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is not covered by earnings (261% earnings payout ratio) nor is it covered by cash flows (dividend approximately 105x free cash flows). The dividend has not increased over the past 3 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 190% to bring the payout ratio under control. However, EPS is expected to decline by 52% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.Recent Insider Transactions Derivative • Jan 13Executive Chairman exercised options to buy CA$366k worth of stock.On the 6th of January, Akiba Leisman exercised options to buy 260k shares at a strike price of around CA$1.25, costing a total of CA$324k. This transaction amounted to 11% of their direct individual holding at the time of the trade. Since March 2024, Akiba's direct individual holding has decreased from 2.39m shares to 0. Company insiders have collectively bought CA$1.2m more than they sold, via options and on-market transactions, in the last 12 months.Upcoming Dividend • Dec 24Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 31 December 2024. Payment date: 15 January 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.2%. Lower than top quartile of Canadian dividend payers (6.4%). Higher than average of industry peers (2.0%).お知らせ • Dec 19Advance Metals Limited (ASX:AVM) entered into an agreement to acquire Swordfish Silver Corp. from Sailfish Royalty Corp. (TSXV:FISH) for $0.41 million.Advance Metals Limited (ASX:AVM) entered into an agreement to acquire Swordfish Silver Corp. from Sailfish Royalty Corp. (TSXV:FISH) for $0.41 million on December 17, 2024. A cash consideration of $0.05 million will be paid by Advance Metals Limited. The consideration consists of 16.8 million common equity of Advance Metals Limited to be issued for common equity of Swordfish Silver Corp. Issue to Sailfish Royalty Corp. 33,600,000 performance rights, with such Performance Rights entitling Sailfish Royalty Corp. to the issuance of AML Shares upon satisfaction of the following milestones; a. 16,800,000 Performance Rights shall automatically convert, without payment of additional consideration, into 16,800,000 AML Shares upon AML achieving a 30 million oz resource at 300g/t silver equivalent or greater from the Property on or before the date that is five years following the Closing Date (the "Milestone Deadline"); and b. 16,800,000 Performance Rights shall automatically convert, without payment of additional consideration, into 16,800,000 AML Shares upon AML achieving a 60 million oz resource at 300g/t silver equivalent or greater from the Property on or before the date that is five years following the Closing Date; and 4. Grant to Sailfish Royalty Corp. a 2.0% net smelter return royalty in respect of all mineral production from the area within the boundaries of the Property.Recent Insider Transactions Derivative • Dec 17CEO & Director exercised options to buy CA$644k worth of stock.On the 11th of December, Paolo Lostritto exercised options to buy 460k shares at a strike price of around CA$1.14, costing a total of CA$524k. This transaction amounted to 292% of their direct individual holding at the time of the trade. Since December 2023, Paolo's direct individual holding has increased from 138.14k shares to 157.64k. Company insiders have collectively bought CA$925k more than they sold, via options and on-market transactions, in the last 12 months.Declared Dividend • Dec 09Third quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 4.6%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is not covered by earnings (261% earnings payout ratio) nor is it covered by cash flows (dividend approximately 103x free cash flows). The dividend has not increased over the past 3 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 190% to bring the payout ratio under control. However, EPS is expected to decline by 52% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.お知らせ • Nov 27Sailfish Royalty Corp. Declares Fourth Quarterly Cash Dividend for 2024, Payable on January 15, 2025Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's fourth quarterly cash dividend for 2024 in the amount of USD 0.0125 per common share that will be payable on January 15, 2025 to Sailfish shareholders of record as of the close of business on December 31, 2024.New Risk • Nov 19New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 18% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 261% Dividend per share is over 103x cash flows per share. Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risks Revenue is less than US$5m (US$2.8m revenue). Market cap is less than US$100m (CA$94.6m market cap, or US$67.1m).Reported Earnings • Nov 15Third quarter 2024 earnings released: US$0.002 loss per share (vs US$0.004 loss in 3Q 2023)Third quarter 2024 results: US$0.002 loss per share (improved from US$0.004 loss in 3Q 2023). Revenue: US$730.0k (up 76% from 3Q 2023). Net loss: US$137.6k (loss narrowed 49% from 3Q 2023). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.お知らせ • Oct 30Sailfish Royalty Corp., Annual General Meeting, Jan 23, 2025Sailfish Royalty Corp., Annual General Meeting, Jan 23, 2025. Location: british columbia, vancouver Canada分析記事 • Oct 22Sailfish Royalty (CVE:FISH) Is Making Moderate Use Of DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...Valuation Update With 7 Day Price Move • Oct 21Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CA$1.59, the stock trades at a trailing P/E ratio of 65.5x. Average forward P/E is 1x in the Metals and Mining industry in Canada. Total returns to shareholders of 31% over the past three years.Declared Dividend • Sep 16Second quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 30th September 2024 Payment date: 15th October 2024 Dividend yield will be 5.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is not covered by earnings (289% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 3 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 221% to bring the payout ratio under control. However, EPS has declined by 33% over the last 5 years so the company would need to reverse this trend.お知らせ • Sep 12Sailfish Royalty Corp. Announces Third Quarterly Cash Dividend for 2024, Payable on October 15, 2024Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's third quarterly cash dividend for 2024 in the amount of USD 0.0125 per common share that will be payable on October 15, 2024 to Sailfish shareholders of record as of the close of business on September 30, 2024.Reported Earnings • Aug 21Second quarter 2024 earnings released: EPS: US$0.016 (vs US$0.006 loss in 2Q 2023)Second quarter 2024 results: EPS: US$0.016 (up from US$0.006 loss in 2Q 2023). Revenue: US$1.03m (up 94% from 2Q 2023). Net income: US$1.14m (up US$1.58m from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Recent Insider Transactions • Jul 26Executive Chairman recently bought CA$99k worth of stockOn the 24th of July, Akiba Leisman bought around 80k shares on-market at roughly CA$1.23 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Akiba has been a net seller over the last 12 months, reducing personal holdings by CA$121k.Upcoming Dividend • Jun 21Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 28 June 2024. Payment date: 15 July 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.8%. Lower than top quartile of Canadian dividend payers (6.5%). Higher than average of industry peers (1.8%).Declared Dividend • Jun 02First quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 5.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 3 years but payments have been stable during that time.Reported Earnings • Apr 25Full year 2023 earnings released: US$0.016 loss per share (vs US$0.017 loss in FY 2022)Full year 2023 results: US$0.016 loss per share (improved from US$0.017 loss in FY 2022). Net loss: US$1.11m (loss narrowed 8.3% from FY 2022). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.Declared Dividend • Mar 25Third quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 27th March 2024 Payment date: 15th April 2024 Dividend yield will be 5.5%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 3 years but payments have been stable during that time.分析記事 • Mar 07Here's Why Sailfish Royalty (CVE:FISH) Can Afford Some DebtDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Recent Insider Transactions • Feb 01Executive Chairman recently sold CA$78k worth of stockOn the 23rd of January, Akiba Leisman sold around 65k shares on-market at roughly CA$1.20 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Akiba has been a net seller over the last 12 months, reducing personal holdings by CA$159k.Upcoming Dividend • Dec 21Upcoming dividend of US$0.013 per share at 5.6% yieldEligible shareholders must have bought the stock before 28 December 2023. Payment date: 15 January 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Canadian dividend payers (6.5%). Higher than average of industry peers (2.1%).お知らせ • Dec 08Sailfish Royalty Corp. Declares Fourth Quarterly Cash Dividend for 2023, Payable on January 15, 2024Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's fourth quarterly cash dividend for 2023 in the amount of USD 0.0125 per common share that will be payable on January 15, 2024 to Sailfish shareholders of record as of the close of business on December 31, 2023.New Risk • Dec 01New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 38% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 22% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (38% increase in shares outstanding). Significant insider selling over the past 3 months (CA$217k sold). Revenue is less than US$5m (US$2.3m revenue).Recent Insider Transactions Derivative • Nov 29Executive Chairman exercised options to buy CA$389k worth of stock.On the 22nd of November, Akiba Leisman exercised options to buy 274k shares at a strike price of around CA$1.00, costing a total of CA$274k. This transaction amounted to 15% of their direct individual holding at the time of the trade. Since March 2023, Akiba's direct individual holding has increased from 1.45m shares to 1.85m. Company insiders have collectively bought CA$799k more than they sold, via options and on-market transactions, in the last 12 months.お知らせ • Nov 25Sailfish Royalty Corp., Annual General Meeting, Jan 25, 2024Sailfish Royalty Corp., Annual General Meeting, Jan 25, 2024. Location: Vancouver, BC Vancouver CanadaReported Earnings • Nov 25Third quarter 2023 earnings released: US$0.004 loss per share (vs US$0.005 loss in 3Q 2022)Third quarter 2023 results: US$0.004 loss per share (improved from US$0.005 loss in 3Q 2022). Net loss: US$267.3k (loss narrowed 31% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Recent Insider Transactions Derivative • Nov 18Chief Financial Officer exercised options to buy CA$83k worth of stock.On the 13th of November, Bryan McKenzie exercised options to buy 66k shares at a strike price of around CA$1.00, costing a total of CA$66k. This transaction amounted to 42% of their direct individual holding at the time of the trade. Since March 2023, Bryan has owned 155.93k shares directly. Company insiders have collectively bought CA$525k more than they sold, via options and on-market transactions, in the last 12 months.分析記事 • Oct 29Here's Why Sailfish Royalty (CVE:FISH) Can Afford Some DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...Recent Insider Transactions Derivative • Oct 26Executive Chairman exercised options to buy CA$113k worth of stock.On the 23rd of October, Akiba Leisman exercised options to buy 90k shares at a strike price of around CA$1.00, costing a total of CA$90k. This transaction amounted to 5.1% of their direct individual holding at the time of the trade. Since December 2022, Akiba's direct individual holding has increased from 1.30m shares to 1.76m. Company insiders have collectively bought CA$460k more than they sold, via options and on-market transactions, in the last 12 months.Recent Insider Transactions Derivative • Oct 01Executive Chairman exercised options to buy CA$108k worth of stock.On the 27th of September, Akiba Leisman exercised options to buy 100k shares at a strike price of around CA$1.00, costing a total of CA$100k. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. Since December 2022, Akiba's direct individual holding has increased from 1.30m shares to 1.65m. Company insiders have collectively bought CA$343k more than they sold, via options and on-market transactions, in the last 12 months.Recent Insider Transactions • Sep 22Executive Chairman recently sold CA$206k worth of stockOn the 15th of September, Akiba Leisman sold around 149k shares on-market at roughly CA$1.38 per share. This transaction amounted to 8.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Akiba has been a net seller over the last 12 months, reducing personal holdings by CA$146k.Upcoming Dividend • Sep 21Upcoming dividend of US$0.013 per share at 5.6% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 16 October 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (2.0%).お知らせ • Sep 12Sailfish Royalty Corp. Declares Third Quarterly Cash Dividend for 2023, Payable on October 16, 2023Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's third quarterly cash dividend for 2023 in the amount of USD 0.0125 per common share that will be payable on October 16, 2023 to Sailfish shareholders of record as of the close of business on September 30, 2023.お知らせ • Sep 09Mako Mining Corp. Announces the Results from 68 Reverse Circulation Infill Drill Holes At the Las Conchitas Area of Its Wholly-Owned San Albino-Murra Property Located in Northern NicaraguaSailfish Royalty Corp. reported that Mako Mining Corp. has announced the results from 68 reverse circulation infill drill holes at the Las Conchitas area of its wholly-owned San Albino-Murra property located in northern Nicaragua. Mako's main objective of the near-surface infill RC drilling program is to gain a higher level of confidence of the geometry of gold mineralization where Mako has received a permit to process material through the San Albino plant. Las Conchitas is located just south of the producing San Albino gold mine ("San Albino"), which is currently in commercial production. Drilling was highlighted by: Drilling Highlights: 23.47 grams-per-tonne ("g/t") gold ("Au") and 32.6 g/t silver ("Ag") over 11.0 meters ("m") (9.5m estimated true width ("ETW")) 13.78 g/t Au and 20.6 g/t Ag over 4.0 m (3.1m ETW) 12.03 g/t Au and 21.9 g/t Ag over 5.0 m (4.7m ETW) 21.80 g/t Au and 17.1 g/t Ag over 7.0 m (6.1m ETW) 28.78 g/t Au & 30.5 g/t Ag over 3.0 m (ETW) 7.00 g/t Au and 14.6 g/t Ag across 11.0 m (9.5m ETW) As a reminder to shareholders, Sailfish currently holds a gold stream equivalent to a 3% net smelter return royalty ("NSR") on San Albino and a 2% NSR on the entire Las Conchitas area which consists of Las Conchitas North, Las Conchitas Central and Las Conchitas South.Reported Earnings • Aug 25Second quarter 2023 earnings released: US$0.006 loss per share (vs US$0.012 loss in 2Q 2022)Second quarter 2023 results: US$0.006 loss per share (improved from US$0.012 loss in 2Q 2022). Net loss: US$434.7k (loss narrowed 51% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.Recent Insider Transactions • Jun 23Executive Chairman recently bought CA$51k worth of stockOn the 19th of June, Akiba Leisman bought around 62k shares on-market at roughly CA$0.83 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth CA$92k. Akiba has been a buyer over the last 12 months, purchasing a net total of CA$27k worth in shares.Upcoming Dividend • Jun 22Upcoming dividend of US$0.013 per share at 8.0% yieldEligible shareholders must have bought the stock before 29 June 2023. Payment date: 17 July 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 8.0%. Within top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (1.9%).Recent Insider Transactions • Jun 15Executive Chairman recently bought CA$92k worth of stockOn the 9th of June, Akiba Leisman bought around 111k shares on-market at roughly CA$0.83 per share. This transaction amounted to 7.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Akiba has been a net seller over the last 12 months, reducing personal holdings by CA$92k.お知らせ • Jun 13Sailfish Royalty Corp. Declares Second Quarterly Cash Dividend for 2023, Payable on July 17, 2023Sailfish Royalty Corp. announce that its Board of Directors has declared the Company's second quarterly cash dividend for 2023 in the amount of USD 0.0125 per common share that will be payable on July 17, 2023 to Sailfish shareholders of record as of the close of business on June 30, 2023.Reported Earnings • May 31First quarter 2023 earnings released: US$0.009 loss per share (vs US$0.003 profit in 1Q 2022)First quarter 2023 results: US$0.009 loss per share (down from US$0.003 profit in 1Q 2022). Net loss: US$609.6k (down 400% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.お知らせ • May 26Sailfish Royalty Corp. announced that it has received $4 million in funding from Wexford Capital LPOn May 25, 2023, Sailfish Royalty Corp. closed the transaction. The company has disclosed the investor Wexford Capital LP for Prior to the Private Placement, the Wexford Funds beneficially owned an aggregate of 43,927,162 Shares, representing approximately 61.63% of the issued and outstanding Shares. following closing of the Private Placement, and assuming conversion in full of the Convertible Debentures held by the Wexford Funds, the Wexford Funds would beneficially own an aggregate of 47,960,347 Shares, which would represent approximately 63.69% of the issued and outstanding Shares on a partially-diluted basis, which would represent an increase in the Wexford Funds’ securityholding percentage of approximately 2.06%.Reported Earnings • Apr 27Full year 2022 earnings released: US$0.017 loss per share (vs US$0.044 profit in FY 2021)Full year 2022 results: US$0.017 loss per share (down from US$0.044 profit in FY 2021). Net loss: US$1.21m (down 137% from profit in FY 2021). Production and reserves: Gold Production: 1.476 troy koz (823 troy oz in FY 2021) Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Mar 23Upcoming dividend of US$0.013 per share at 5.9% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 17 April 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.9%. Lower than top quartile of Canadian dividend payers (6.0%). Higher than average of industry peers (2.2%).Recent Insider Transactions • Mar 20Executive Chairman recently sold CA$184k worth of stockOn the 17th of March, Akiba Leisman sold around 151k shares on-market at roughly CA$1.22 per share. This transaction amounted to 9.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Akiba has been a net seller over the last 12 months, reducing personal holdings by CA$190k.分析記事 • Mar 03Here's Why We're Not At All Concerned With Sailfish Royalty's (CVE:FISH) Cash Burn SituationWe can readily understand why investors are attracted to unprofitable companies. For example, although...お知らせ • Feb 17Sailfish Royalty Corp. Announces Resignation of Michael Starogiannis as A DirectorSailfish Royalty Corp. announced that Michael Starogiannis has resigned as a director of the Company.お知らせ • Jan 13Sailfish Royalty Corp. Announces the Results from the Recent Exploration Work Conducted on the Company's 100% Owned Gavilanes Silver ProjectSailfish Royalty Corp. announced the results from the recent exploration work conducted on the Company's 100% owned Gavilanes Silver Project ("Gavilanes" or "Project") located approximately 31 kilometers away from First Majestic's San Dimas operation in Durango State, Mexico. Gavilanes comprises several high-grade polymetallic silver veins tested by 47 shallow diamond drill holes focused on three of these veins, which host mineralization in veins and stock works of an intermediate sulphidation system. Since its acquisition, Sailfish has expanded the number of contiguous mineral claims to better encompass the mineralized system. During 2022, Sailfish conducted an extensive surface sampling program that discovered an additional 18 mineralized silver rich polymetallic veins that have yet to be drilled. Geologists collected contiguous representative chip samples across veins or structures which are highlighted by: Descubridora vein: 4.0 meters ("m"), estimated true width 2.5 m, of 12.80 grams-per-tonne gold ("g/t Au") and 48 grams-per-tonne silver ("g/t Ag"). Descubridora vein: 18.0 m of 0.87 g/t Au and 40 g/t Ag. San Nicolas vein: 1.0 m of 30.00 g/t Au and 190 g/t Ag. San Nicolas vein: 2.0 m of 0.84 g/t Au and 754 g/t Ag. San Nicolas - Veta del Pueblo vein: 1.0 m of 0.02 g/t Au and 1,867 g/t Ag. Forasteros vein: 2.2 m of 10.12 g/t Au and 16 g/t Ag. La Cruz vein: 0.5 m of 0.51 g/t Au and 1,546 g/t Ag. Gavilanes currently has an inferred mineral resource of 2.833 million tonnes at an average grade of 245.6 g/t AgEq (22.4 million ounces of silver-equivalent). This inferred mineral resource is highlighted by having 18.9 million ounces of silver at an average grade of 207 g/t silver.Upcoming Dividend • Dec 22Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 29 December 2022. Payment date: 16 January 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 6.2%. Within top quartile of Canadian dividend payers (6.0%). Higher than average of industry peers (2.4%).お知らせ • Dec 10Sailfish Royalty Corp. Announces Dividend for Third Quarter of 2022 on Common Share, Payable on January 16, 2022Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's fourth quarterly cash dividend for 2022 in the amount of USD 0.0125 per common share that will be payable on January 16, 2022 to Sailfish shareholders of record as of the close of business on December 31, 2022.Reported Earnings • Nov 17Third quarter 2022 earnings released: US$0.005 loss per share (vs US$0.042 profit in 3Q 2021)Third quarter 2022 results: US$0.005 loss per share (down from US$0.042 profit in 3Q 2021). Net loss: US$388.3k (down 113% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.お知らせ • Oct 27Sailfish Provides Update on Its San Albino RoyaltySailfish announced additional results from its recent definition and expansion drilling program at the Las Conchitas area of its wholly-owned San Albino-Murra property located in northern Nicaragua. The Las Conchitas area is located immediately south of the producing San Albino gold mine ("San Albino"), which is currently in commercial production. As a reminder to shareholders, Sailfish currently holds a gold stream equivalent to a 3% net smelter returnroyalty ("NSR") on San Albino and a 2% NSR on the Las Conchitas area which consists of Las Conchitas North, Las Conchitas Central and Las Conchitas South (collectively, "Las Conchitas"). Las Conchitas - North Mina Francisco ("MF") 42.59 g/t Au and 31.3 g/t Ag over 2.10 m (ETW) 26.66 g/t Au and 47.7 g/t Ag over 2.50 m (2.4 m ETW) 20.30 g/t Au and 55.8 g/t Ag over 2.00 m (1.9m ETW) 5 meters from surface. Intermediate ("Int")22.89 g/t Au and 7.2 g/t Ag over 1.40 m (1.3 m ETW as Conchitas - Centra.Cruz Grande ("CG") 25.07 g/t Au and 31.0 g/t Ag over 2.20 m (ETW) 27.30 g/t Au and 20.9 g/t Ag over 1.10 m (ETW) Las Conchitas - South El Limon ("EL") 14.50 g/t Au and 10.8 g/t Ag over 0.60 m (0.5 m ETW) 65.45 g/t Au and 41.7 g/t Ag over 1.80 m (1.7 m ETW). Mango ("Mg") 7.55 g/t Au and 1.6 g/t Ag over 1.00 m (0.9 m ETW).お知らせ • Oct 26Sailfish Royalty Corp., Annual General Meeting, Dec 08, 2022Sailfish Royalty Corp., Annual General Meeting, Dec 08, 2022. Location: Vancouver, BC Vancouver CanadaBuying Opportunity • Oct 22Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 34%. The fair value is estimated to be CA$1.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 117% over the last 3 years, while earnings per share has been flat.Buying Opportunity • Sep 23Now 26% undervalued after recent price dropOver the last 90 days, the stock is down 38%. The fair value is estimated to be CA$1.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 117% over the last 3 years, while earnings per share has been flat.Upcoming Dividend • Sep 21Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 28 September 2022. Payment date: 14 October 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.4%. Within top quartile of Canadian dividend payers (5.6%). Higher than average of industry peers (2.6%).お知らせ • Sep 13+ 1 more updateSailfish Royalty Corp. Appoints Paolo Lostritto as Chief Executive OfficerSailfish Royalty Corp. announced the appointment of Paolo Lostritto as Chief Executive Officer the Company. Mr. Lostritto joined Sailfish in March 2021 as Vice President of Corporate Development. Prior to this, Mr. Lostritto also helped grow the Company as a banker, including assisting with the Company's purchase of the royalty held on the Tocantinzinho gold project located in northern Brazil in 2017. Mr. Lostritto has been selected to replace Cesar Gonzalez, who has stepped down from his role as Chief Executive Officer and Director of the Company to focus on his role as Executive Chairman of Bonterra Resources Inc. Mr. Gonzalez will continue to assist and provide strategic advice to the Company as a consultant. Mr. Gonzalez co-founded Sailfish in 2014 with Akiba Leisman, Executive Chairman of the Company. Mr. Gonzalez became the CEO in October 2020 and has played an integral role in growing the Company from a private subsidiary of a predecessor of Mako Mining Corp., into a publicly traded precious metals royalty company with cash flow and paying a dividend. The Company thanks Mr. Gonzalez for his service as CEO and Director and is pleased that he will continue to provide strategic advice to the Company as a consultant. Mr. Lostritto has an extensive background in mining capital markets and working with companies across the globe since 1997. Paolo has helped assess different companies/projects and helped finance them as they advanced through exploration, development, and production. Some of the companies where Paolo was involved early include: Kirkland Lake Gold, Novagold and Lake Shore Gold in 2004; Romarco Minerals in 2006; Victoria Gold and Volta Resources in 2009. Mr. Lostritto is currently serving as the Chairman of Signature Resources Ltd., which is focused on high grade gold exploration in Ontario. Over his career, Mr. Lostritto was a Director of the Mining Equity Research at National Bank Financial and worked in equity research at Wellington West, Scotia Capital and TD Securities. He served as an Independent Director at Savary Gold Corp. which was sold to SEMAFO in 2019. Mr. Lostritto holds a Bachelor of Applied Science in Geological and Mineral Engineering in Rock Mechanics from the University of Toronto and he is a registered Professional Engineer in the Province of Ontario.お知らせ • Sep 08Sailfish Royalty Corp. Announces Dividend for Third Quarter of 2022 on Common Share, Payable on October 14, 2022Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's third quarterly cash dividend for 2022 in the amount of USD 0.0125 per common share that will be payable on October 14, 2022 to Sailfish shareholders of record as of the close of business on September 30, 2022.分析記事 • Sep 03Calculating The Intrinsic Value Of Sailfish Royalty Corp. (CVE:FISH)Today we will run through one way of estimating the intrinsic value of Sailfish Royalty Corp. ( CVE:FISH ) by taking...Reported Earnings • Jul 29Second quarter 2022 earnings released: US$0.012 loss per share (vs US$0.017 loss in 2Q 2021)Second quarter 2022 results: US$0.012 loss per share (up from US$0.017 loss in 2Q 2021). Revenue: US$646.9k (up 438% from 2Q 2021). Net loss: US$885.8k (loss narrowed 30% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year.お知らせ • Jun 23Sailfish Provides Update on Its San Albino Gold StreamSailfish Royalty Corp. announced significant updates on the Company's gold stream equivalent to a 3% net smelter return royalty ("NSR") on the San Albino gold mine located in northern Nicaragua ("San Albino"). On June 21, 2022, Mako Mining Corp. ("Mako") announced additional high-grade drill results from an area beginning approximately 50 meters ("m") southwest of the current open pit mining operations at San Albino.Cesar Gonzalez, Chief Executive Officer of Sailfish states that, "the delineation of a mineralized area at the SW Pit of approximately 530 m x 470 m (strike x dip) versus only 50 m x 50 m in Mako's 2020 Mineral Resource Estimate bodes well for the potential expansion of mineable resources at San Albino, where Sailfish has a gold stream equivalent to a 3% NSR." Highlights (from Mako's June 21, 2022 news release) Recent drilling has confirmed gold mineralization over an area of approximately 530 m x 470 m (strike x dip) in an area that was identified in the 2020 Mineral Resource Estimate as the SW Pit. At the time of the resource estimate, this area measured approximately 50 m x 50 m. To date a total of 27,533 m in 202 drill holes (2011-2022) has been completed in the area. Most of the drilling intersected mineralization within, or immediately outside, the currently permitted pit limits. Highlights of selected intercepts of the high-grade gold mineralization include: 42.91 g/t Au and 38.3 g/t Ag over 4.50 m (4.1 m estimated true width "ETW") in hole SA22-615 21.21 g/t Au and 35.5 g/t Ag over 2.00 m (1.4 m ETW) in hole SA22-609 34.35 g/t Au and 24.9 g/t Ag over 2.80 m (2.7 m ETW) in hole SA22-546 20.06 g/t Au and 71.3 g/t Ag over 1.00 m (ETW) in hole SA21-545 he objectctive of the SW Pit drilling program is to delineate new mineral resources amenable to en pit and undnderground mining methods in the sparsely tested southwestern portion of the permitted pit limit, as well as to test extensions of this mineralization beyond the permitted pit limit .Upcoming Dividend • Jun 22Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 July 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.1%. Lower than top quartile of Canadian dividend payers (5.2%). Higher than average of industry peers (2.0%).Valuation Update With 7 Day Price Move • Jun 17Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to CA$1.12, the stock trades at a trailing P/E ratio of 41x. Average trailing P/E is 12x in the Metals and Mining industry in Canada. Total loss to shareholders of 9.5% over the past three years.お知らせ • Jun 02+ 1 more updateSailfish Provides Update on Its San Albino Royalty; Highlighted by the Discovery of New Gold Bearing Veins At Las Conchitas NorthSailfish Royalty Corp. reported that Mako Mining Corp. ("Mako") has announced a discovery of new gold bearing veins at Las Conchitas North, including an intercept of 51.80 grams per tonne ("g/t") gold and 29.8 g/t silver over 0.90 meters ("m") (estimated true width), which is located approximately 750 m south of the San Albino gold mine. As a reminder to shareholders, Sailfish currently holds a gold stream equivalent to a 3% net smelter return royalty (" NSR") on the producing San Albino gold mine located in northern Nicaragua ("San Albino") and a 2% NSR on the Las Conchitas area which consists of Las Conchitas North, Las Conchitas Central and Las Conchitas South (collectively, "Las Conchitas"). Highlights Initial drilling in 2018 targeted a mineralized structure exposed in the historic San Pablo working where seven drill holes, totaling 260.30 m were drilled. No additional drilling had been completed in the area until this year, which has resulted in the discovery of two veins, the Mina Francisco and the Tirado vein. Highlights of the recent drilling: -- Mina Francisco -- 51.80 g/t Au and 29.8 g/t Ag over 0.90 m (ETW) -- San Pablo -- 27.60 g/t of Au and 17.1 g/g/t of Ag over 0.50 m (ETW) -- Tirado -- 39.30 g/t Au and 49.0 g/t Ag over 0.50m (0.4 m ETW) -- Tirado -- 10.97 g/t Au and 23.2 g/t Ag over 3.50 m (3.30 m ETW) ETWsrere estimated true width measured from interpreted sections. To date, a total of 4,670 in the 2022 d drilling campaign have been completed in 35 drill holes at Las Conchitas North resulting in the discovery of the Mina Francisco and Tirado veins as well as further delineation of the San Pablo vein. The three mineralized structures are located at the northern portion of the Las Conchitas area in Nueva Segovia, Nicaragua which is interpreted to be a new emerging orogenic gold camp with over 28 kilometers of relatively unexplored strike length.お知らせ • May 28Sailfish Royalty Corp. announced that it expects to receive $5 million in funding from Barnwell Investments LimitedSailfish Royalty Corp. announced a private placement of 4,310,345 subscription receipts at a price of $1.16 per subscription receipt for aggregate gross proceeds of $5 million on May 26, 2022. The transaction included participation from Barnwell Investments Limited. The company may elect to increase the size of the offering by issuing additional subscription receipts, subject to approval of the TSX Venture Exchange. Each subscription receipt issued pursuant to the offering will entitle the holder thereof to receive, upon the satisfaction of the escrow release condition and without payment of additional consideration, one common share. The transaction is subject to regulatory approvals, including conditional listing approval of the TSXV for the common shares.Reported Earnings • May 19First quarter 2022 earnings released: EPS: US$0.003 (vs US$0.026 in 1Q 2021)First quarter 2022 results: EPS: US$0.003 (down from US$0.026 in 1Q 2021). Revenue: US$722.6k (up US$711.9k from 1Q 2021). Net income: US$203.5k (down 90% from 1Q 2021). Profit margin: 28% (down from 18,304% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Reported Earnings • Apr 21Full year 2021 earnings released: EPS: US$0.044 (vs US$0.069 loss in FY 2020)Full year 2021 results: EPS: US$0.044 (up from US$0.069 loss in FY 2020). Net income: US$3.27m (up US$7.86m from FY 2020). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Upcoming Dividend • Mar 23Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 30 March 2022. Payment date: 15 April 2022. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of Canadian dividend payers (4.7%). Higher than average of industry peers (1.5%).Recent Insider Transactions • Mar 19Executive Chairman recently sold CA$274k worth of stockOn the 11th of March, Akiba Leisman sold around 184k shares on-market at roughly CA$1.49 per share. This was the largest sale by an insider in the last 3 months. Akiba has been a seller over the last 12 months, reducing personal holdings by CA$350k.Upcoming Dividend • Dec 23Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 30 December 2021. Payment date: 17 January 2022. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of Canadian dividend payers (4.7%). Higher than average of industry peers (1.7%).Reported Earnings • Nov 19Third quarter 2021 earnings released: EPS US$0.042 (vs US$0.035 loss in 3Q 2020)Third quarter 2021 results: Net income: US$3.06m (up US$5.29m from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance.株主還元FISHCA Metals and MiningCA 市場7D7.3%-10.1%-0.2%1Y90.8%85.1%32.6%株主還元を見る業界別リターン: FISH過去 1 年間で85.1 % の収益を上げたCanadian Metals and Mining業界を上回りました。リターン対市場: FISH過去 1 年間で32.6 % の収益を上げたCanadian市場を上回りました。価格変動Is FISH's price volatile compared to industry and market?FISH volatilityFISH Average Weekly Movement7.1%Metals and Mining Industry Average Movement11.8%Market Average Movement10.3%10% most volatile stocks in CA Market18.1%10% least volatile stocks in CA Market3.9%安定した株価: FISH 、 Canadian市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: FISHの 週次ボラティリティ ( 7% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト2014n/aPaolo Lostrittowww.sailfishroyalty.comSailfish Royalty Corp.は、貴金属ロイヤリティとストリーミング契約の取得に従事している。金・銀鉱床の探査に従事。マネジメントサービスも提供している。Sailfish Royalty Corp.は2014年に法人化され、英領バージン諸島のロードタウンに本社を置く。もっと見るSailfish Royalty Corp. 基礎のまとめSailfish Royalty の収益と売上を時価総額と比較するとどうか。FISH 基礎統計学時価総額CA$292.96m収益（TTM）CA$1.73m売上高(TTM)CA$4.64m176.1xPER（株価収益率65.5xP/SレシオFISH は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計FISH 損益計算書（TTM）収益US$3.38m売上原価US$50.96k売上総利益US$3.32mその他の費用US$2.07m収益US$1.26m直近の収益報告Dec 31, 2025次回決算日該当なし一株当たり利益（EPS）0.016グロス・マージン98.49%純利益率37.19%有利子負債／自己資本比率103.3%FISH の長期的なパフォーマンスは？過去の実績と比較を見る配当金1.7%現在の配当利回り294%配当性向FISH 配当は確実ですか？FISH 配当履歴とベンチマークを見るFISH 、いつまでに購入すれば配当金を受け取れますか？Sailfish Royalty 配当日配当落ち日Dec 31 2025配当支払日Jul 15 2026配当落ちまでの日数141 days配当支払日までの日数55 daysFISH 配当は確実ですか？FISH 配当履歴とベンチマークを見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/20 10:57終値2026/05/20 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Sailfish Royalty Corp. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Ben PirieAtrium Research
Reported Earnings • Apr 26Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: US$0.017 (up from US$0.015 in FY 2024). Revenue: US$3.38m (up 19% from FY 2024). Net income: US$1.26m (up 21% from FY 2024). Profit margin: 37% (in line with FY 2024). Revenue exceeded analyst estimates by 125%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Revenue is forecast to grow 58% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth.
New Risk • Apr 26New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 451% Dividend per share is over 8x cash flows per share. Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (CA$3.9m sold). Revenue is less than US$5m (US$3.4m revenue).
Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Director Asheef Lalani was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Mar 25Mako Us Corp. completed the acquisition of Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH).Mako Us Corp. entered into a binding term sheet to acquire Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) on September 27, 2025. In a related transaction, Sailfish Royalty Corp. (TSXV:FISH) entered into membership interest purchase agreement to acquire Mt. Hamilton LLC from Mt. Hamilton Holdings LLC for $40 million on September 26, 2025. The Term Sheet between Sailfish and Mako provides for the transfer of 100% of MH LLC to Mako in exchange for consideration consisting of a gold stream, under which Sailfish will purchase approximately 341.7 troy ounces of gold per month from Mako at a price equal to 20% of the London Bullion Market Association PM Fix for a period of 60 months commencing immediately following the closing of the acquisition transaction, as well as a net smelter return royalty to be granted upon completion of the stream period. Mako Us Corp. entered into a definitive purchase and sale agreement to acquire Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) for $40 million on November 26, 2025. Pursuant to the terms of the Purchase Agreement, Mako US has appointed and directed Sailfish, as its nominee, agent and bare trustee, to use the aggregate $40 million purchase price paid by Sailfish for the Gold Stream and the NSR Royalty to fund the purchase price for the Acquisition. The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders, approval of offer by acquirer board, approval of offer by target shareholders and definitive agreement. As of February 18, 2026, The Board of Directors of Mako unanimously approved the deal. On March 3, 2026, Mako Mining and Sailfish Royalty Corp. shareholders approved the Mt. Hamilton Acquisition. The outside date for Closing is March 16, 2026, or such other date as may be agreed in writing by the parties. Stifel Nicolaus Canada Inc. acted as financial advisor and fairness opinion provider for Mako Us Corp and was paid a $72,644.30 (CAD100,000) for financial advisory fee. Cassels Brock & Blackwell LLP acted as legal advisor for Mako Us Corp. Spencer Fane LLP acted as legal advisor for Mako Us Corp. Computershare Trust Company of Canada acted as information agent for Mako. Mako Us Corp. completed the acquisition of Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) on March 24, 2026.
Recent Insider Transactions • Mar 01Chief Financial Officer recently sold CA$880k worth of stockOn the 27th of February, Bryan McKenzie sold around 220k shares on-market at roughly CA$4.00 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Bryan has been a net seller over the last 12 months, reducing personal holdings by CA$876k.
Major Estimate Revision • Feb 25Consensus forecasts updatedThe consensus outlook for fiscal year 2025 has been updated. Metals and Mining industry in Canada expected to see average net income growth of 29% next year. Consensus price target up from CA$4.23 to CA$4.51. Share price fell 6.0% to CA$4.07 over the past week.
Reported Earnings • Apr 26Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: US$0.017 (up from US$0.015 in FY 2024). Revenue: US$3.38m (up 19% from FY 2024). Net income: US$1.26m (up 21% from FY 2024). Profit margin: 37% (in line with FY 2024). Revenue exceeded analyst estimates by 125%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Revenue is forecast to grow 58% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth.
New Risk • Apr 26New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 451% Dividend per share is over 8x cash flows per share. Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (CA$3.9m sold). Revenue is less than US$5m (US$3.4m revenue).
Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Director Asheef Lalani was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Mar 25Mako Us Corp. completed the acquisition of Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH).Mako Us Corp. entered into a binding term sheet to acquire Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) on September 27, 2025. In a related transaction, Sailfish Royalty Corp. (TSXV:FISH) entered into membership interest purchase agreement to acquire Mt. Hamilton LLC from Mt. Hamilton Holdings LLC for $40 million on September 26, 2025. The Term Sheet between Sailfish and Mako provides for the transfer of 100% of MH LLC to Mako in exchange for consideration consisting of a gold stream, under which Sailfish will purchase approximately 341.7 troy ounces of gold per month from Mako at a price equal to 20% of the London Bullion Market Association PM Fix for a period of 60 months commencing immediately following the closing of the acquisition transaction, as well as a net smelter return royalty to be granted upon completion of the stream period. Mako Us Corp. entered into a definitive purchase and sale agreement to acquire Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) for $40 million on November 26, 2025. Pursuant to the terms of the Purchase Agreement, Mako US has appointed and directed Sailfish, as its nominee, agent and bare trustee, to use the aggregate $40 million purchase price paid by Sailfish for the Gold Stream and the NSR Royalty to fund the purchase price for the Acquisition. The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders, approval of offer by acquirer board, approval of offer by target shareholders and definitive agreement. As of February 18, 2026, The Board of Directors of Mako unanimously approved the deal. On March 3, 2026, Mako Mining and Sailfish Royalty Corp. shareholders approved the Mt. Hamilton Acquisition. The outside date for Closing is March 16, 2026, or such other date as may be agreed in writing by the parties. Stifel Nicolaus Canada Inc. acted as financial advisor and fairness opinion provider for Mako Us Corp and was paid a $72,644.30 (CAD100,000) for financial advisory fee. Cassels Brock & Blackwell LLP acted as legal advisor for Mako Us Corp. Spencer Fane LLP acted as legal advisor for Mako Us Corp. Computershare Trust Company of Canada acted as information agent for Mako. Mako Us Corp. completed the acquisition of Mt. Hamilton LLC from Sailfish Royalty Corp. (TSXV:FISH) on March 24, 2026.
Recent Insider Transactions • Mar 01Chief Financial Officer recently sold CA$880k worth of stockOn the 27th of February, Bryan McKenzie sold around 220k shares on-market at roughly CA$4.00 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Bryan has been a net seller over the last 12 months, reducing personal holdings by CA$876k.
Major Estimate Revision • Feb 25Consensus forecasts updatedThe consensus outlook for fiscal year 2025 has been updated. Metals and Mining industry in Canada expected to see average net income growth of 29% next year. Consensus price target up from CA$4.23 to CA$4.51. Share price fell 6.0% to CA$4.07 over the past week.
お知らせ • Feb 25Sailfish Royalty Corp. Approves Dividend Policy to Increase Quarterly Dividends; Announces Dividend for the First Quarter of 2026, Payable on July 15, 2026Sailfish Royalty Corp. announced that the Board of Directors have approved a dividend policy increase for the Company under which the Company intends to pay quarterly dividends of USD 0.0375 per common share starting in the first quarter of 2026. The first quarterly dividend of USD 0.0375 per common share will be payable on July 15, 2026 to Sailfish shareholders of record as of the close of business on March 31, 2026.
お知らせ • Dec 26Sailfish Royalty Corp., Annual General Meeting, Feb 10, 2026Sailfish Royalty Corp., Annual General Meeting, Feb 10, 2026. Location: british virgin islands, United Kingdom
Recent Insider Transactions Derivative • Dec 14Chief Financial Officer exercised options to buy CA$766k worth of stock.On the 10th of December, Bryan McKenzie exercised options to buy 221k shares at a strike price of around CA$1.25, costing a total of CA$277k. This transaction amounted to 98% of their direct individual holding at the time of the trade. Since March 2025, Bryan's direct individual holding has increased from 221.93k shares to 447.82k. Company insiders have collectively bought CA$714k more than they sold, via options and on-market transactions, in the last 12 months.
お知らせ • Nov 28Sailfish Royalty Corp. (TSXV:FISH) acquired Mt. Hamilton LLC.Sailfish Royalty Corp. (TSXV:FISH) agreed to acquire Mt. Hamilton LLC for $40 million on September 27, 2025. A cash consideration of $40 million will be paid by Sailfish Royalty Corp. The transaction will be financed by entering into a commitment letter with Wexford Capital LP (the "Commitment Letter") for a senior secured bridge term facility in the aggregate amount of up to US$40 million The closing of the acquisition is subject to customary closing conditions, including acceptance of TSXV and is anticipated to close by November 30, 2025. Sailfish Royalty Corp. (TSXV:FISH) completed the acquisition of Mt. Hamilton LLC on November 27, 2025.
Reported Earnings • Nov 23Third quarter 2025 earnings released: EPS: US$0.014 (vs US$0.002 loss in 3Q 2024)Third quarter 2025 results: EPS: US$0.014 (up from US$0.002 loss in 3Q 2024). Revenue: US$879.5k (up 21% from 3Q 2024). Net income: US$1.03m (up US$1.17m from 3Q 2024). Revenue is forecast to grow 93% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 65% per year, which means it is significantly lagging earnings growth.
お知らせ • Oct 01Sailfish Royalty Corp. (TSXV:FISH) agreed to acquire Mt. Hamilton LLC for $40 million.Sailfish Royalty Corp. (TSXV:FISH) agreed to acquire Mt. Hamilton LLC for $40 million on September 27, 2025. A cash consideration of $40 million will be paid by Sailfish Royalty Corp. The transaction will be financed by entering into a commitment letter with Wexford Capital LP (the "Commitment Letter") for a senior secured bridge term facility in the aggregate amount of up to US$40 million The closing of the acquisition is subject to customary closing conditions, including acceptance of TSXV. The closing of the acquisition is anticipated to occur by November 30, 2025.
Declared Dividend • Sep 12Second quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 29th September 2025 Payment date: 15th October 2025 Dividend yield will be 2.2%, which is about the same as the industry average. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 4 years but payments have been stable during that time.
Reported Earnings • Aug 22Second quarter 2025 earnings released: EPS: US$0.003 (vs US$0.016 in 2Q 2024)Second quarter 2025 results: EPS: US$0.003 (down from US$0.016 in 2Q 2024). Net income: US$237.2k (down 79% from 2Q 2024). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth.
Major Estimate Revision • Jul 17Consensus EPS estimates have been upgraded.The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$2.30m to US$2.40m. EPS estimate increased from US$0.00 per share to US$0.01 per share. Metals and Mining industry in Canada expected to see average net income growth of 39% next year. Consensus price target up from CA$2.48 to CA$2.74. Share price fell 4.0% to CA$2.38 over the past week.
Upcoming Dividend • Jun 23Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 30 June 2025. Payment date: 15 July 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.9%. Lower than top quartile of Canadian dividend payers (6.1%). Higher than average of industry peers (1.4%).
Reported Earnings • May 29First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: US$587.2k (up 64% from 1Q 2024). Net income: US$110.1k (down 26% from 1Q 2024). Profit margin: 19% (down from 41% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 20% per year.
お知らせ • May 28Mako Mining Corp. Reports Initial Results from its 2025 Reverse Circulation Drill Program at the El Golfo Area Within the El Jicaro ConcessionSailfish Royalty Corp. reported that Mako Mining Corp. ("Mako") has reported initial results from its 2025 reverse circulation ("RC") drill program at the El Golfo area within the El Jicaro concession where Sailfish has a 2% net smelter return royalty ("NSR"). The 2025 exploration program at El Golfo comprises an initial 3,000 metres ("m") of RC drilling and is part of Mako's regional drill program on its district-scale, 224 km2 land package. Drill hole EJ25-RC53 (270/-60) intersected a wide, high-grade interval of 39.15 grams-per-tonne (" g/t") gold ("Au") and 27.8 g/t silver ("Ag") over 8.0 m (5.9 m estimated true width ("ETW"). It is important to highlight that this hole is 19.2 m below surface and falls within the concessions where Sailfish is intitled to a 2% NSR. Hole EJ25-RC53 tested a prominent NE-SW oriented structure interpreted from geochemical soil sampling and geological mapping of underground workings. This structural orientation is known to control gold mineralization at the San Albino and Las Conchitas deposits. Mako has completed 12 drill holes in the past month, targeting the Pavona zone, one of several drill targets situated within the El Golfo area. The other 10 drill holes of the initial drill program have also intersected zones with sulfide mineralization interpreted to be part of the same gold-bearing system. Assay results of these drill holes are pending and will be released by Mako as they become available. El Golfo is located less than a kilometre from the pits currently being mined at Las Conchitas. In addition, Mako released results from 91 drill holes on May 14th, 2025, that extended the footprint of mineralization around several key zones at the Las Conchitas operation. Drilling was highlighted by: 117.98 g/t Au and 37.0 g/t Ag over 2.0 m (1.7 m ETW) - Cruz Grande/El Limon Vein. 14.76 g/t Au and 13.67 g/t Ag over 3.0 m (2.6 m ETW) - Intermediate Vein. 18.14 g/t Au and 9.5 g/t Ag over 7.0 m (6.7 m ETW), Mina Francisco Vein. 29.57 g/t Au and 66.7 g/t Ag over 3.,0 m (2.6m ETW) - Mina Francisco Vein. 24.59 g/t Au and 10.2 g/t Ag over 4.0 m (3.1 m ETW) - Mina San Francisco Vein. 24.95 g/t Au and 28.9 g/t Ag over 4.,0 m (3.9 m ETW) - Bayacun Vein (LMB Pit) Paolo Lostritto, Chief Executive Officer of Sailfish states that, "The ability for our partner to make new discoveries in this region whilst simultaneously expanding resources, net of mine depletion, bodes well for the value of our royalties and streams in this region. New discoveries increase the likelihood of resource expansion and improves the chances of extending the duration of cash flow and overall leverage to future precious metal prices. We look forward to underground test mining later this year at San Albino, the subsequent maiden resource at El Golfo and a resource update at Las Conchitas when available".
Declared Dividend • May 18Fourth quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 30th June 2025 Payment date: 15th July 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is not covered by earnings (342% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 4 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 280% to bring the payout ratio under control. However, EPS is expected to decline by 36% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
Reported Earnings • Apr 27Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: US$0.015 (up from US$0.016 loss in FY 2023). Revenue: US$2.84m (up 22% from FY 2023). Net income: US$1.03m (up US$2.14m from FY 2023). Profit margin: 36% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 67%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.
Upcoming Dividend • Mar 24Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 31 March 2025. Payment date: 15 April 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.2%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (1.6%).
Declared Dividend • Mar 02Third quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 31st March 2025 Payment date: 15th April 2025 Dividend yield will be 4.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is not covered by earnings (261% earnings payout ratio) nor is it covered by cash flows (dividend approximately 105x free cash flows). The dividend has not increased over the past 3 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 190% to bring the payout ratio under control. However, EPS is expected to decline by 52% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
Recent Insider Transactions Derivative • Jan 13Executive Chairman exercised options to buy CA$366k worth of stock.On the 6th of January, Akiba Leisman exercised options to buy 260k shares at a strike price of around CA$1.25, costing a total of CA$324k. This transaction amounted to 11% of their direct individual holding at the time of the trade. Since March 2024, Akiba's direct individual holding has decreased from 2.39m shares to 0. Company insiders have collectively bought CA$1.2m more than they sold, via options and on-market transactions, in the last 12 months.
Upcoming Dividend • Dec 24Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 31 December 2024. Payment date: 15 January 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.2%. Lower than top quartile of Canadian dividend payers (6.4%). Higher than average of industry peers (2.0%).
お知らせ • Dec 19Advance Metals Limited (ASX:AVM) entered into an agreement to acquire Swordfish Silver Corp. from Sailfish Royalty Corp. (TSXV:FISH) for $0.41 million.Advance Metals Limited (ASX:AVM) entered into an agreement to acquire Swordfish Silver Corp. from Sailfish Royalty Corp. (TSXV:FISH) for $0.41 million on December 17, 2024. A cash consideration of $0.05 million will be paid by Advance Metals Limited. The consideration consists of 16.8 million common equity of Advance Metals Limited to be issued for common equity of Swordfish Silver Corp. Issue to Sailfish Royalty Corp. 33,600,000 performance rights, with such Performance Rights entitling Sailfish Royalty Corp. to the issuance of AML Shares upon satisfaction of the following milestones; a. 16,800,000 Performance Rights shall automatically convert, without payment of additional consideration, into 16,800,000 AML Shares upon AML achieving a 30 million oz resource at 300g/t silver equivalent or greater from the Property on or before the date that is five years following the Closing Date (the "Milestone Deadline"); and b. 16,800,000 Performance Rights shall automatically convert, without payment of additional consideration, into 16,800,000 AML Shares upon AML achieving a 60 million oz resource at 300g/t silver equivalent or greater from the Property on or before the date that is five years following the Closing Date; and 4. Grant to Sailfish Royalty Corp. a 2.0% net smelter return royalty in respect of all mineral production from the area within the boundaries of the Property.
Recent Insider Transactions Derivative • Dec 17CEO & Director exercised options to buy CA$644k worth of stock.On the 11th of December, Paolo Lostritto exercised options to buy 460k shares at a strike price of around CA$1.14, costing a total of CA$524k. This transaction amounted to 292% of their direct individual holding at the time of the trade. Since December 2023, Paolo's direct individual holding has increased from 138.14k shares to 157.64k. Company insiders have collectively bought CA$925k more than they sold, via options and on-market transactions, in the last 12 months.
Declared Dividend • Dec 09Third quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 4.6%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is not covered by earnings (261% earnings payout ratio) nor is it covered by cash flows (dividend approximately 103x free cash flows). The dividend has not increased over the past 3 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 190% to bring the payout ratio under control. However, EPS is expected to decline by 52% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
お知らせ • Nov 27Sailfish Royalty Corp. Declares Fourth Quarterly Cash Dividend for 2024, Payable on January 15, 2025Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's fourth quarterly cash dividend for 2024 in the amount of USD 0.0125 per common share that will be payable on January 15, 2025 to Sailfish shareholders of record as of the close of business on December 31, 2024.
New Risk • Nov 19New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 18% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 261% Dividend per share is over 103x cash flows per share. Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risks Revenue is less than US$5m (US$2.8m revenue). Market cap is less than US$100m (CA$94.6m market cap, or US$67.1m).
Reported Earnings • Nov 15Third quarter 2024 earnings released: US$0.002 loss per share (vs US$0.004 loss in 3Q 2023)Third quarter 2024 results: US$0.002 loss per share (improved from US$0.004 loss in 3Q 2023). Revenue: US$730.0k (up 76% from 3Q 2023). Net loss: US$137.6k (loss narrowed 49% from 3Q 2023). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
お知らせ • Oct 30Sailfish Royalty Corp., Annual General Meeting, Jan 23, 2025Sailfish Royalty Corp., Annual General Meeting, Jan 23, 2025. Location: british columbia, vancouver Canada
分析記事 • Oct 22Sailfish Royalty (CVE:FISH) Is Making Moderate Use Of DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Valuation Update With 7 Day Price Move • Oct 21Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CA$1.59, the stock trades at a trailing P/E ratio of 65.5x. Average forward P/E is 1x in the Metals and Mining industry in Canada. Total returns to shareholders of 31% over the past three years.
Declared Dividend • Sep 16Second quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 30th September 2024 Payment date: 15th October 2024 Dividend yield will be 5.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is not covered by earnings (289% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 3 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 221% to bring the payout ratio under control. However, EPS has declined by 33% over the last 5 years so the company would need to reverse this trend.
お知らせ • Sep 12Sailfish Royalty Corp. Announces Third Quarterly Cash Dividend for 2024, Payable on October 15, 2024Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's third quarterly cash dividend for 2024 in the amount of USD 0.0125 per common share that will be payable on October 15, 2024 to Sailfish shareholders of record as of the close of business on September 30, 2024.
Reported Earnings • Aug 21Second quarter 2024 earnings released: EPS: US$0.016 (vs US$0.006 loss in 2Q 2023)Second quarter 2024 results: EPS: US$0.016 (up from US$0.006 loss in 2Q 2023). Revenue: US$1.03m (up 94% from 2Q 2023). Net income: US$1.14m (up US$1.58m from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Recent Insider Transactions • Jul 26Executive Chairman recently bought CA$99k worth of stockOn the 24th of July, Akiba Leisman bought around 80k shares on-market at roughly CA$1.23 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Akiba has been a net seller over the last 12 months, reducing personal holdings by CA$121k.
Upcoming Dividend • Jun 21Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 28 June 2024. Payment date: 15 July 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.8%. Lower than top quartile of Canadian dividend payers (6.5%). Higher than average of industry peers (1.8%).
Declared Dividend • Jun 02First quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 5.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 3 years but payments have been stable during that time.
Reported Earnings • Apr 25Full year 2023 earnings released: US$0.016 loss per share (vs US$0.017 loss in FY 2022)Full year 2023 results: US$0.016 loss per share (improved from US$0.017 loss in FY 2022). Net loss: US$1.11m (loss narrowed 8.3% from FY 2022). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
Declared Dividend • Mar 25Third quarter dividend of US$0.013 announcedShareholders will receive a dividend of US$0.013. Ex-date: 27th March 2024 Payment date: 15th April 2024 Dividend yield will be 5.5%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 3 years but payments have been stable during that time.
分析記事 • Mar 07Here's Why Sailfish Royalty (CVE:FISH) Can Afford Some DebtDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Recent Insider Transactions • Feb 01Executive Chairman recently sold CA$78k worth of stockOn the 23rd of January, Akiba Leisman sold around 65k shares on-market at roughly CA$1.20 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Akiba has been a net seller over the last 12 months, reducing personal holdings by CA$159k.
Upcoming Dividend • Dec 21Upcoming dividend of US$0.013 per share at 5.6% yieldEligible shareholders must have bought the stock before 28 December 2023. Payment date: 15 January 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Canadian dividend payers (6.5%). Higher than average of industry peers (2.1%).
お知らせ • Dec 08Sailfish Royalty Corp. Declares Fourth Quarterly Cash Dividend for 2023, Payable on January 15, 2024Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's fourth quarterly cash dividend for 2023 in the amount of USD 0.0125 per common share that will be payable on January 15, 2024 to Sailfish shareholders of record as of the close of business on December 31, 2023.
New Risk • Dec 01New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 38% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 22% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (38% increase in shares outstanding). Significant insider selling over the past 3 months (CA$217k sold). Revenue is less than US$5m (US$2.3m revenue).
Recent Insider Transactions Derivative • Nov 29Executive Chairman exercised options to buy CA$389k worth of stock.On the 22nd of November, Akiba Leisman exercised options to buy 274k shares at a strike price of around CA$1.00, costing a total of CA$274k. This transaction amounted to 15% of their direct individual holding at the time of the trade. Since March 2023, Akiba's direct individual holding has increased from 1.45m shares to 1.85m. Company insiders have collectively bought CA$799k more than they sold, via options and on-market transactions, in the last 12 months.
お知らせ • Nov 25Sailfish Royalty Corp., Annual General Meeting, Jan 25, 2024Sailfish Royalty Corp., Annual General Meeting, Jan 25, 2024. Location: Vancouver, BC Vancouver Canada
Reported Earnings • Nov 25Third quarter 2023 earnings released: US$0.004 loss per share (vs US$0.005 loss in 3Q 2022)Third quarter 2023 results: US$0.004 loss per share (improved from US$0.005 loss in 3Q 2022). Net loss: US$267.3k (loss narrowed 31% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Recent Insider Transactions Derivative • Nov 18Chief Financial Officer exercised options to buy CA$83k worth of stock.On the 13th of November, Bryan McKenzie exercised options to buy 66k shares at a strike price of around CA$1.00, costing a total of CA$66k. This transaction amounted to 42% of their direct individual holding at the time of the trade. Since March 2023, Bryan has owned 155.93k shares directly. Company insiders have collectively bought CA$525k more than they sold, via options and on-market transactions, in the last 12 months.
分析記事 • Oct 29Here's Why Sailfish Royalty (CVE:FISH) Can Afford Some DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
Recent Insider Transactions Derivative • Oct 26Executive Chairman exercised options to buy CA$113k worth of stock.On the 23rd of October, Akiba Leisman exercised options to buy 90k shares at a strike price of around CA$1.00, costing a total of CA$90k. This transaction amounted to 5.1% of their direct individual holding at the time of the trade. Since December 2022, Akiba's direct individual holding has increased from 1.30m shares to 1.76m. Company insiders have collectively bought CA$460k more than they sold, via options and on-market transactions, in the last 12 months.
Recent Insider Transactions Derivative • Oct 01Executive Chairman exercised options to buy CA$108k worth of stock.On the 27th of September, Akiba Leisman exercised options to buy 100k shares at a strike price of around CA$1.00, costing a total of CA$100k. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. Since December 2022, Akiba's direct individual holding has increased from 1.30m shares to 1.65m. Company insiders have collectively bought CA$343k more than they sold, via options and on-market transactions, in the last 12 months.
Recent Insider Transactions • Sep 22Executive Chairman recently sold CA$206k worth of stockOn the 15th of September, Akiba Leisman sold around 149k shares on-market at roughly CA$1.38 per share. This transaction amounted to 8.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Akiba has been a net seller over the last 12 months, reducing personal holdings by CA$146k.
Upcoming Dividend • Sep 21Upcoming dividend of US$0.013 per share at 5.6% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 16 October 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (2.0%).
お知らせ • Sep 12Sailfish Royalty Corp. Declares Third Quarterly Cash Dividend for 2023, Payable on October 16, 2023Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's third quarterly cash dividend for 2023 in the amount of USD 0.0125 per common share that will be payable on October 16, 2023 to Sailfish shareholders of record as of the close of business on September 30, 2023.
お知らせ • Sep 09Mako Mining Corp. Announces the Results from 68 Reverse Circulation Infill Drill Holes At the Las Conchitas Area of Its Wholly-Owned San Albino-Murra Property Located in Northern NicaraguaSailfish Royalty Corp. reported that Mako Mining Corp. has announced the results from 68 reverse circulation infill drill holes at the Las Conchitas area of its wholly-owned San Albino-Murra property located in northern Nicaragua. Mako's main objective of the near-surface infill RC drilling program is to gain a higher level of confidence of the geometry of gold mineralization where Mako has received a permit to process material through the San Albino plant. Las Conchitas is located just south of the producing San Albino gold mine ("San Albino"), which is currently in commercial production. Drilling was highlighted by: Drilling Highlights: 23.47 grams-per-tonne ("g/t") gold ("Au") and 32.6 g/t silver ("Ag") over 11.0 meters ("m") (9.5m estimated true width ("ETW")) 13.78 g/t Au and 20.6 g/t Ag over 4.0 m (3.1m ETW) 12.03 g/t Au and 21.9 g/t Ag over 5.0 m (4.7m ETW) 21.80 g/t Au and 17.1 g/t Ag over 7.0 m (6.1m ETW) 28.78 g/t Au & 30.5 g/t Ag over 3.0 m (ETW) 7.00 g/t Au and 14.6 g/t Ag across 11.0 m (9.5m ETW) As a reminder to shareholders, Sailfish currently holds a gold stream equivalent to a 3% net smelter return royalty ("NSR") on San Albino and a 2% NSR on the entire Las Conchitas area which consists of Las Conchitas North, Las Conchitas Central and Las Conchitas South.
Reported Earnings • Aug 25Second quarter 2023 earnings released: US$0.006 loss per share (vs US$0.012 loss in 2Q 2022)Second quarter 2023 results: US$0.006 loss per share (improved from US$0.012 loss in 2Q 2022). Net loss: US$434.7k (loss narrowed 51% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
Recent Insider Transactions • Jun 23Executive Chairman recently bought CA$51k worth of stockOn the 19th of June, Akiba Leisman bought around 62k shares on-market at roughly CA$0.83 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth CA$92k. Akiba has been a buyer over the last 12 months, purchasing a net total of CA$27k worth in shares.
Upcoming Dividend • Jun 22Upcoming dividend of US$0.013 per share at 8.0% yieldEligible shareholders must have bought the stock before 29 June 2023. Payment date: 17 July 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 8.0%. Within top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (1.9%).
Recent Insider Transactions • Jun 15Executive Chairman recently bought CA$92k worth of stockOn the 9th of June, Akiba Leisman bought around 111k shares on-market at roughly CA$0.83 per share. This transaction amounted to 7.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Akiba has been a net seller over the last 12 months, reducing personal holdings by CA$92k.
お知らせ • Jun 13Sailfish Royalty Corp. Declares Second Quarterly Cash Dividend for 2023, Payable on July 17, 2023Sailfish Royalty Corp. announce that its Board of Directors has declared the Company's second quarterly cash dividend for 2023 in the amount of USD 0.0125 per common share that will be payable on July 17, 2023 to Sailfish shareholders of record as of the close of business on June 30, 2023.
Reported Earnings • May 31First quarter 2023 earnings released: US$0.009 loss per share (vs US$0.003 profit in 1Q 2022)First quarter 2023 results: US$0.009 loss per share (down from US$0.003 profit in 1Q 2022). Net loss: US$609.6k (down 400% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
お知らせ • May 26Sailfish Royalty Corp. announced that it has received $4 million in funding from Wexford Capital LPOn May 25, 2023, Sailfish Royalty Corp. closed the transaction. The company has disclosed the investor Wexford Capital LP for Prior to the Private Placement, the Wexford Funds beneficially owned an aggregate of 43,927,162 Shares, representing approximately 61.63% of the issued and outstanding Shares. following closing of the Private Placement, and assuming conversion in full of the Convertible Debentures held by the Wexford Funds, the Wexford Funds would beneficially own an aggregate of 47,960,347 Shares, which would represent approximately 63.69% of the issued and outstanding Shares on a partially-diluted basis, which would represent an increase in the Wexford Funds’ securityholding percentage of approximately 2.06%.
Reported Earnings • Apr 27Full year 2022 earnings released: US$0.017 loss per share (vs US$0.044 profit in FY 2021)Full year 2022 results: US$0.017 loss per share (down from US$0.044 profit in FY 2021). Net loss: US$1.21m (down 137% from profit in FY 2021). Production and reserves: Gold Production: 1.476 troy koz (823 troy oz in FY 2021) Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Mar 23Upcoming dividend of US$0.013 per share at 5.9% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 17 April 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.9%. Lower than top quartile of Canadian dividend payers (6.0%). Higher than average of industry peers (2.2%).
Recent Insider Transactions • Mar 20Executive Chairman recently sold CA$184k worth of stockOn the 17th of March, Akiba Leisman sold around 151k shares on-market at roughly CA$1.22 per share. This transaction amounted to 9.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Akiba has been a net seller over the last 12 months, reducing personal holdings by CA$190k.
分析記事 • Mar 03Here's Why We're Not At All Concerned With Sailfish Royalty's (CVE:FISH) Cash Burn SituationWe can readily understand why investors are attracted to unprofitable companies. For example, although...
お知らせ • Feb 17Sailfish Royalty Corp. Announces Resignation of Michael Starogiannis as A DirectorSailfish Royalty Corp. announced that Michael Starogiannis has resigned as a director of the Company.
お知らせ • Jan 13Sailfish Royalty Corp. Announces the Results from the Recent Exploration Work Conducted on the Company's 100% Owned Gavilanes Silver ProjectSailfish Royalty Corp. announced the results from the recent exploration work conducted on the Company's 100% owned Gavilanes Silver Project ("Gavilanes" or "Project") located approximately 31 kilometers away from First Majestic's San Dimas operation in Durango State, Mexico. Gavilanes comprises several high-grade polymetallic silver veins tested by 47 shallow diamond drill holes focused on three of these veins, which host mineralization in veins and stock works of an intermediate sulphidation system. Since its acquisition, Sailfish has expanded the number of contiguous mineral claims to better encompass the mineralized system. During 2022, Sailfish conducted an extensive surface sampling program that discovered an additional 18 mineralized silver rich polymetallic veins that have yet to be drilled. Geologists collected contiguous representative chip samples across veins or structures which are highlighted by: Descubridora vein: 4.0 meters ("m"), estimated true width 2.5 m, of 12.80 grams-per-tonne gold ("g/t Au") and 48 grams-per-tonne silver ("g/t Ag"). Descubridora vein: 18.0 m of 0.87 g/t Au and 40 g/t Ag. San Nicolas vein: 1.0 m of 30.00 g/t Au and 190 g/t Ag. San Nicolas vein: 2.0 m of 0.84 g/t Au and 754 g/t Ag. San Nicolas - Veta del Pueblo vein: 1.0 m of 0.02 g/t Au and 1,867 g/t Ag. Forasteros vein: 2.2 m of 10.12 g/t Au and 16 g/t Ag. La Cruz vein: 0.5 m of 0.51 g/t Au and 1,546 g/t Ag. Gavilanes currently has an inferred mineral resource of 2.833 million tonnes at an average grade of 245.6 g/t AgEq (22.4 million ounces of silver-equivalent). This inferred mineral resource is highlighted by having 18.9 million ounces of silver at an average grade of 207 g/t silver.
Upcoming Dividend • Dec 22Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 29 December 2022. Payment date: 16 January 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 6.2%. Within top quartile of Canadian dividend payers (6.0%). Higher than average of industry peers (2.4%).
お知らせ • Dec 10Sailfish Royalty Corp. Announces Dividend for Third Quarter of 2022 on Common Share, Payable on January 16, 2022Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's fourth quarterly cash dividend for 2022 in the amount of USD 0.0125 per common share that will be payable on January 16, 2022 to Sailfish shareholders of record as of the close of business on December 31, 2022.
Reported Earnings • Nov 17Third quarter 2022 earnings released: US$0.005 loss per share (vs US$0.042 profit in 3Q 2021)Third quarter 2022 results: US$0.005 loss per share (down from US$0.042 profit in 3Q 2021). Net loss: US$388.3k (down 113% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
お知らせ • Oct 27Sailfish Provides Update on Its San Albino RoyaltySailfish announced additional results from its recent definition and expansion drilling program at the Las Conchitas area of its wholly-owned San Albino-Murra property located in northern Nicaragua. The Las Conchitas area is located immediately south of the producing San Albino gold mine ("San Albino"), which is currently in commercial production. As a reminder to shareholders, Sailfish currently holds a gold stream equivalent to a 3% net smelter returnroyalty ("NSR") on San Albino and a 2% NSR on the Las Conchitas area which consists of Las Conchitas North, Las Conchitas Central and Las Conchitas South (collectively, "Las Conchitas"). Las Conchitas - North Mina Francisco ("MF") 42.59 g/t Au and 31.3 g/t Ag over 2.10 m (ETW) 26.66 g/t Au and 47.7 g/t Ag over 2.50 m (2.4 m ETW) 20.30 g/t Au and 55.8 g/t Ag over 2.00 m (1.9m ETW) 5 meters from surface. Intermediate ("Int")22.89 g/t Au and 7.2 g/t Ag over 1.40 m (1.3 m ETW as Conchitas - Centra.Cruz Grande ("CG") 25.07 g/t Au and 31.0 g/t Ag over 2.20 m (ETW) 27.30 g/t Au and 20.9 g/t Ag over 1.10 m (ETW) Las Conchitas - South El Limon ("EL") 14.50 g/t Au and 10.8 g/t Ag over 0.60 m (0.5 m ETW) 65.45 g/t Au and 41.7 g/t Ag over 1.80 m (1.7 m ETW). Mango ("Mg") 7.55 g/t Au and 1.6 g/t Ag over 1.00 m (0.9 m ETW).
お知らせ • Oct 26Sailfish Royalty Corp., Annual General Meeting, Dec 08, 2022Sailfish Royalty Corp., Annual General Meeting, Dec 08, 2022. Location: Vancouver, BC Vancouver Canada
Buying Opportunity • Oct 22Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 34%. The fair value is estimated to be CA$1.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 117% over the last 3 years, while earnings per share has been flat.
Buying Opportunity • Sep 23Now 26% undervalued after recent price dropOver the last 90 days, the stock is down 38%. The fair value is estimated to be CA$1.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 117% over the last 3 years, while earnings per share has been flat.
Upcoming Dividend • Sep 21Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 28 September 2022. Payment date: 14 October 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.4%. Within top quartile of Canadian dividend payers (5.6%). Higher than average of industry peers (2.6%).
お知らせ • Sep 13+ 1 more updateSailfish Royalty Corp. Appoints Paolo Lostritto as Chief Executive OfficerSailfish Royalty Corp. announced the appointment of Paolo Lostritto as Chief Executive Officer the Company. Mr. Lostritto joined Sailfish in March 2021 as Vice President of Corporate Development. Prior to this, Mr. Lostritto also helped grow the Company as a banker, including assisting with the Company's purchase of the royalty held on the Tocantinzinho gold project located in northern Brazil in 2017. Mr. Lostritto has been selected to replace Cesar Gonzalez, who has stepped down from his role as Chief Executive Officer and Director of the Company to focus on his role as Executive Chairman of Bonterra Resources Inc. Mr. Gonzalez will continue to assist and provide strategic advice to the Company as a consultant. Mr. Gonzalez co-founded Sailfish in 2014 with Akiba Leisman, Executive Chairman of the Company. Mr. Gonzalez became the CEO in October 2020 and has played an integral role in growing the Company from a private subsidiary of a predecessor of Mako Mining Corp., into a publicly traded precious metals royalty company with cash flow and paying a dividend. The Company thanks Mr. Gonzalez for his service as CEO and Director and is pleased that he will continue to provide strategic advice to the Company as a consultant. Mr. Lostritto has an extensive background in mining capital markets and working with companies across the globe since 1997. Paolo has helped assess different companies/projects and helped finance them as they advanced through exploration, development, and production. Some of the companies where Paolo was involved early include: Kirkland Lake Gold, Novagold and Lake Shore Gold in 2004; Romarco Minerals in 2006; Victoria Gold and Volta Resources in 2009. Mr. Lostritto is currently serving as the Chairman of Signature Resources Ltd., which is focused on high grade gold exploration in Ontario. Over his career, Mr. Lostritto was a Director of the Mining Equity Research at National Bank Financial and worked in equity research at Wellington West, Scotia Capital and TD Securities. He served as an Independent Director at Savary Gold Corp. which was sold to SEMAFO in 2019. Mr. Lostritto holds a Bachelor of Applied Science in Geological and Mineral Engineering in Rock Mechanics from the University of Toronto and he is a registered Professional Engineer in the Province of Ontario.
お知らせ • Sep 08Sailfish Royalty Corp. Announces Dividend for Third Quarter of 2022 on Common Share, Payable on October 14, 2022Sailfish Royalty Corp. announced that its Board of Directors has declared the Company's third quarterly cash dividend for 2022 in the amount of USD 0.0125 per common share that will be payable on October 14, 2022 to Sailfish shareholders of record as of the close of business on September 30, 2022.
分析記事 • Sep 03Calculating The Intrinsic Value Of Sailfish Royalty Corp. (CVE:FISH)Today we will run through one way of estimating the intrinsic value of Sailfish Royalty Corp. ( CVE:FISH ) by taking...
Reported Earnings • Jul 29Second quarter 2022 earnings released: US$0.012 loss per share (vs US$0.017 loss in 2Q 2021)Second quarter 2022 results: US$0.012 loss per share (up from US$0.017 loss in 2Q 2021). Revenue: US$646.9k (up 438% from 2Q 2021). Net loss: US$885.8k (loss narrowed 30% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year.
お知らせ • Jun 23Sailfish Provides Update on Its San Albino Gold StreamSailfish Royalty Corp. announced significant updates on the Company's gold stream equivalent to a 3% net smelter return royalty ("NSR") on the San Albino gold mine located in northern Nicaragua ("San Albino"). On June 21, 2022, Mako Mining Corp. ("Mako") announced additional high-grade drill results from an area beginning approximately 50 meters ("m") southwest of the current open pit mining operations at San Albino.Cesar Gonzalez, Chief Executive Officer of Sailfish states that, "the delineation of a mineralized area at the SW Pit of approximately 530 m x 470 m (strike x dip) versus only 50 m x 50 m in Mako's 2020 Mineral Resource Estimate bodes well for the potential expansion of mineable resources at San Albino, where Sailfish has a gold stream equivalent to a 3% NSR." Highlights (from Mako's June 21, 2022 news release) Recent drilling has confirmed gold mineralization over an area of approximately 530 m x 470 m (strike x dip) in an area that was identified in the 2020 Mineral Resource Estimate as the SW Pit. At the time of the resource estimate, this area measured approximately 50 m x 50 m. To date a total of 27,533 m in 202 drill holes (2011-2022) has been completed in the area. Most of the drilling intersected mineralization within, or immediately outside, the currently permitted pit limits. Highlights of selected intercepts of the high-grade gold mineralization include: 42.91 g/t Au and 38.3 g/t Ag over 4.50 m (4.1 m estimated true width "ETW") in hole SA22-615 21.21 g/t Au and 35.5 g/t Ag over 2.00 m (1.4 m ETW) in hole SA22-609 34.35 g/t Au and 24.9 g/t Ag over 2.80 m (2.7 m ETW) in hole SA22-546 20.06 g/t Au and 71.3 g/t Ag over 1.00 m (ETW) in hole SA21-545 he objectctive of the SW Pit drilling program is to delineate new mineral resources amenable to en pit and undnderground mining methods in the sparsely tested southwestern portion of the permitted pit limit, as well as to test extensions of this mineralization beyond the permitted pit limit .
Upcoming Dividend • Jun 22Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 July 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.1%. Lower than top quartile of Canadian dividend payers (5.2%). Higher than average of industry peers (2.0%).
Valuation Update With 7 Day Price Move • Jun 17Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to CA$1.12, the stock trades at a trailing P/E ratio of 41x. Average trailing P/E is 12x in the Metals and Mining industry in Canada. Total loss to shareholders of 9.5% over the past three years.
お知らせ • Jun 02+ 1 more updateSailfish Provides Update on Its San Albino Royalty; Highlighted by the Discovery of New Gold Bearing Veins At Las Conchitas NorthSailfish Royalty Corp. reported that Mako Mining Corp. ("Mako") has announced a discovery of new gold bearing veins at Las Conchitas North, including an intercept of 51.80 grams per tonne ("g/t") gold and 29.8 g/t silver over 0.90 meters ("m") (estimated true width), which is located approximately 750 m south of the San Albino gold mine. As a reminder to shareholders, Sailfish currently holds a gold stream equivalent to a 3% net smelter return royalty (" NSR") on the producing San Albino gold mine located in northern Nicaragua ("San Albino") and a 2% NSR on the Las Conchitas area which consists of Las Conchitas North, Las Conchitas Central and Las Conchitas South (collectively, "Las Conchitas"). Highlights Initial drilling in 2018 targeted a mineralized structure exposed in the historic San Pablo working where seven drill holes, totaling 260.30 m were drilled. No additional drilling had been completed in the area until this year, which has resulted in the discovery of two veins, the Mina Francisco and the Tirado vein. Highlights of the recent drilling: -- Mina Francisco -- 51.80 g/t Au and 29.8 g/t Ag over 0.90 m (ETW) -- San Pablo -- 27.60 g/t of Au and 17.1 g/g/t of Ag over 0.50 m (ETW) -- Tirado -- 39.30 g/t Au and 49.0 g/t Ag over 0.50m (0.4 m ETW) -- Tirado -- 10.97 g/t Au and 23.2 g/t Ag over 3.50 m (3.30 m ETW) ETWsrere estimated true width measured from interpreted sections. To date, a total of 4,670 in the 2022 d drilling campaign have been completed in 35 drill holes at Las Conchitas North resulting in the discovery of the Mina Francisco and Tirado veins as well as further delineation of the San Pablo vein. The three mineralized structures are located at the northern portion of the Las Conchitas area in Nueva Segovia, Nicaragua which is interpreted to be a new emerging orogenic gold camp with over 28 kilometers of relatively unexplored strike length.
お知らせ • May 28Sailfish Royalty Corp. announced that it expects to receive $5 million in funding from Barnwell Investments LimitedSailfish Royalty Corp. announced a private placement of 4,310,345 subscription receipts at a price of $1.16 per subscription receipt for aggregate gross proceeds of $5 million on May 26, 2022. The transaction included participation from Barnwell Investments Limited. The company may elect to increase the size of the offering by issuing additional subscription receipts, subject to approval of the TSX Venture Exchange. Each subscription receipt issued pursuant to the offering will entitle the holder thereof to receive, upon the satisfaction of the escrow release condition and without payment of additional consideration, one common share. The transaction is subject to regulatory approvals, including conditional listing approval of the TSXV for the common shares.
Reported Earnings • May 19First quarter 2022 earnings released: EPS: US$0.003 (vs US$0.026 in 1Q 2021)First quarter 2022 results: EPS: US$0.003 (down from US$0.026 in 1Q 2021). Revenue: US$722.6k (up US$711.9k from 1Q 2021). Net income: US$203.5k (down 90% from 1Q 2021). Profit margin: 28% (down from 18,304% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Reported Earnings • Apr 21Full year 2021 earnings released: EPS: US$0.044 (vs US$0.069 loss in FY 2020)Full year 2021 results: EPS: US$0.044 (up from US$0.069 loss in FY 2020). Net income: US$3.27m (up US$7.86m from FY 2020). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Upcoming Dividend • Mar 23Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 30 March 2022. Payment date: 15 April 2022. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of Canadian dividend payers (4.7%). Higher than average of industry peers (1.5%).
Recent Insider Transactions • Mar 19Executive Chairman recently sold CA$274k worth of stockOn the 11th of March, Akiba Leisman sold around 184k shares on-market at roughly CA$1.49 per share. This was the largest sale by an insider in the last 3 months. Akiba has been a seller over the last 12 months, reducing personal holdings by CA$350k.
Upcoming Dividend • Dec 23Upcoming dividend of US$0.013 per shareEligible shareholders must have bought the stock before 30 December 2021. Payment date: 17 January 2022. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of Canadian dividend payers (4.7%). Higher than average of industry peers (1.7%).
Reported Earnings • Nov 19Third quarter 2021 earnings released: EPS US$0.042 (vs US$0.035 loss in 3Q 2020)Third quarter 2021 results: Net income: US$3.06m (up US$5.29m from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance.
