Metalla Royalty & Streaming (MTA) Q3 2024 earnings summary

Executive summary

• Achieved first royalty payments from Tocantinzinho and La Guitarra, with both assets expected to scale production into 2025.

• Anticipates Amalgamated Kirkland and Endeavor to begin production in Q4 2024 and H1 2025, supporting GEO growth.

• Several additional assets are expected to reach production between 2025 and 2028.

Financial highlights

• Q3 2024 revenue from royalty and stream interests was $1.6M; net loss of $1.2M; Adjusted EBITDA of $0.9M.

• Nine months ended September 30, 2024: revenue of $3.8M, net loss of $4.4M, Adjusted EBITDA of $1.2M.

• Q3 2024: 648 attributable GEOs at $2,481 average realized price and $9 average cash cost per GEO.

• Operating cash margin per attributable GEO was $2,472 in Q3 2024.

• Adjusted working capital as of September 30, 2024, was $11.6M.

Outlook and guidance

• Tocantinzinho and La Guitarra expected to ramp up to full capacity in Q4 2024 and into 2025.

• Amalgamated Kirkland and Endeavor projected to begin production in Q4 2024 and H1 2025, respectively.

• Additional assets anticipated to reach production between 2025 and 2028.