Mr. Brett Heath reports
METALLA ANNOUNCES PRODUCTION RESULTS AND GUIDANCE FOR FISCAL 2018 AND 2019
Metalla Royalty and Streaming Ltd. has released preliminary production results for the 12 months ended May 31, 2018, of 519,791 ounces of attributable silver, where 429,315 ounces were sold and provisionally invoiced, and 90,476 ounces remained as inventory to be realized in the subsequent quarter. Total production exceeded management guidance expectations for fiscal 2018. Sales were slightly below expectations, primarily due to abnormally high inventory held by the Endeavor mine operator (CBH Resources Ltd.) at fiscal year-end during its smelter contract renegotiations.
Metalla expects fiscal 2018 audited financial statements as well as management's discussion and anaylsis to be released in September, 2018.
Fiscal 2019 outlook
The company is forecasting the following for fiscal 2019:
Attributable silver equivalent production expected to be 500,000 ounces to 600,000 ounces; Revenue expected to be $9-million to $12-million; Increase in production from fiscal 2018 of approximately 10 per cent to20 per cent; Approximately more than 95 per cent of total revenue expected to be generated from silver.
Brett Heath, Metalla's president and chief executive officer, commented: "Fiscal 2018 marks our first full year of production. Our robust development pipeline and additional future transactions will set the stage an exciting fiscal 2019 for our shareholders. We will continue to grow our company and focus on the transactions that will translate into the highest per-share value for each investor."
About Metalla Royalty and Streaming Ltd.
Metalla is a precious metals royalty and streaming company. Metalla provides shareholders with leveraged precious metal exposure through a diversified portfolio of royalties and streams.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.