(Kitco News) - Elemental Royalties (TSX-V: ELE), a gold-focused royalty company, today reported record quarterly revenue of US$1.9 million for Q3 2021 and US$4.3 million for the nine months ended September 30, 2021 generated from five royalties, including maiden revenue from Karlawinda received in the quarter.
The company also reported record 1,062 attributable gold equivalent ounces ("GEOs") sold in Q3 2021 and 2,385 attributable GEOs sold in the nine months ended September 30, 2021, at zero cash cost to the company.
Additionally, Elemental posted record cash flow from operations of US$0.8 million before working capital for Q3 2021 and US$1.5 million for the nine months ended September 30, 2021.
The company's net loss was US$0.8 million for Q3 2021, and US$3.1 million for the nine months ended September 30, 2021.
In 2021, Elemental said it expects 3,400 - 3,800 attributable GEOs from its existing portfolio, with over 90% of expected revenue derived from gold and silver production.
Importantly, Elemental expects revenue growth to continue in 2022, with a full year of royalty revenue from Karlawinda and first revenue from Mercedes expected in Q3 2022.
By Vladimir BasovFor Kitco News
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