On August 26, 2024, Royalties Inc. (CSE: RI) released its second quarter results for the period ending June 30, 2024. The company provided an update on its major investments, which include the Bilbao silver-zinc-lead property in Zacatecas, Mexico, ongoing litigation against Capstone Gold S.A. de C.V., and the acquisition of cash-flowing Music Royalties.
In the second quarter, the Company’s music royalties investments generated $18,857, representing a 21% increase from the same period in 2023. Royalties Inc. received $13,125 in dividend income from Music Royalties Inc., reflecting a 17% increase from the previous year.
Furthermore, Royalties Inc. reported positive results for the first half of 2024, with a 29% increase in dividend and royalty income compared to the prior year. Total expenses decreased by 14%, leading to a reduction in operating loss. However, the net loss increased due to currency fluctuations affecting the Company’s investment in MRI.
As of June 30, 2024, the Company’s total assets were $1,278,177. Royalties Inc. invested $23,426,866 in the Bilbao project, which was fully impaired due to market price misalignments with the 2014 PEA assumptions.
To address current liabilities, the Company announced a proposed financing round, offering up to 6 million shares at $0.035 for CAD$210,000. Royalties Inc. holds a stake in Music Royalties Inc. and owns mining royalties with significant potential value.
For more information, please visit Royalties Inc.’s website. Royalties Inc. cautions investors about forward-looking statements and advises against relying solely on the information presented in this press release. The company commits to providing updates as necessary to keep investors informed.
