Elemental Royalties generates record revenue in Q3 2021

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(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 Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Another 'Bubble Check' for the gold sector

Gold stocks continue to hit new highs

Some mining stocks exposed to Burkina Faso take major hit

Gold stocks again hit new highs

Gold stocks reach new highs on metal price gain