on Star Royalties Ltd. (isin : CA8551691089)
Star Royalties Reports Q1 2024 Financial Results
Star Royalties Ltd. has released its financial results for Q1 2024, showing quarterly revenues of $275,395, comparable to the previous year. The company's efforts in its Green Star Royalties Ltd. joint venture and various mining royalty portfolios highlight its strategic focus on diversified investments.
In Q1 2024, Star Royalties' key initiative included acquiring U.S. forest carbon offset royalties for $5.6 million, marking the first delivery of carbon offsets. The company continues to optimize its CarbonNOW regenerative agriculture investment by securing a 30% gross revenue royalty, currently under third-party validation.
Additionally, efforts are being made at Sabre Gold Mines Corp. and Gold Mountain Mining Corp. to enhance financing solutions and unlock their production potential. Revenue from the Keysbrook Mine saw a 22% increase from the previous year, while Elk Gold Mine resumed partial operations.
Green Star's joint venture partners include Agnico Eagle Mines Limited and Cenovus Energy Inc., with 45.9% ownership retained by Star Royalties. The company is poised to capitalize on the growing voluntary carbon market with its high-integrity carbon credits.
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