Silver Crown Royalties Inc. reported receiving royalty payments from two mining partners, demonstrating the company's stable revenue generation and strategic partnerships in the precious metals industry.
PPX Mining Corp. paid its full royalty of US$40,672.70 several weeks ahead of the due date, while Elk Gold Mining Corp. partially fulfilled its quarterly royalty payment. The partial payment of C$29,811.99 comes with an agreed delay for the remaining C$30,070.25 until March 31, 2025.
Gold Mountain Mining Corp.'s recent financial report revealed modest production at the Elk Gold Project, with 291 ounces of gold extracted from 10,055 tonnes of ore. The reduced production was attributed to a planned winter work program, which temporarily scaled back mining operations.
The royalty agreement with Elk Gold includes a minimum quarterly payment equivalent to 1,500 ounces of silver, significantly exceeding the current quarterly silver output of approximately 573 ounces. This provision provides Silver Crown with a consistent revenue stream and mitigates potential production fluctuations.
CEO Peter Bures emphasized the company's commitment to supporting mining partners and highlighted the effectiveness of their minimum delivery provisions in managing operational risks. The royalty payments underscore Silver Crown's business model of generating precious metals exposure while minimizing direct production challenges.
