Star Royalties (STRR) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was $125,450, down from $271,567 year-over-year, mainly due to shipment timing at Keysbrook.

• Net loss for Q3 2024 was $1,330,714, compared to a net loss of $277,408 in Q3 2023.

• Key mining investments improved: Copperstone is tracking toward construction, and Elk Gold has been recapitalized and is transitioning to full production.

• Green Star Royalties is advancing monetization of its U.S. IFM carbon offset inventory and progressing the Carbon NOW regenerative agriculture program.

Financial highlights

• Revenue for Q3 2024 was $125,450, a decrease from $271,567 in Q3 2023.

• Net loss widened to $1,330,714 from $277,408 year-over-year.

• Basic and diluted loss per share was $(0.02) versus $(0.00) in Q3 2023.

• Cash flow used in operating activities was $213,935, up from $99,563 in Q3 2023.

Outlook and guidance

• Copperstone Gold Project expected to enter production in early 2026, potentially generating $3 million in annual cash flow from the gold stream.

• Carbon NOW program's first offset issuance and royalty revenues anticipated in mid-2025.

• Carbon offset sales expected to increase toward year-end due to seasonality.