METALLA REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER OF 2024 AND PROVIDES ASSET UPDATES

Core Insights - Metalla Royalty & Streaming Ltd. reported significant operational and financial progress for the first half of 2024, highlighting key milestones in production and leadership changes that are expected to drive growth in the latter half of the year [2][3]. Company Highlights - The company appointed Jason Cho as President, who made a C$1.0 million equity investment in the company [4]. - Metalla achieved first production at Tocantinzinho and La Guitarra, while Côté reached commercial production [2][4]. - The company published its inaugural Asset Handbook, detailing over 100 royalty and streaming assets [4]. Financial Performance - For the three months ended June 30, 2024, Metalla recognized revenue of $0.9 million, with a net loss of $1.5 million and Adjusted EBITDA of $0.2 million [4]. - For the six months ended June 30, 2024, revenue was $2.1 million, with a net loss of $3.2 million and Adjusted EBITDA of $0.2 million [4]. - The average realized price per attributable Gold Equivalent Ounce (GEO) was $2,332 for the three months and $2,173 for the six months [4]. Asset Updates - La Encantada produced 46 ounces of gold in Q2 2024, with Metalla accruing 16 GEOs from this asset [6][7]. - El Realito reported gold production of 6.1 Koz in Q2 2024, with Metalla accruing 60 GEOs [8]. - Wharf produced 22.0 Koz of gold in Q2 2024, with Metalla accruing 101 GEOs [9]. - Aranzazu produced 24,692 GEOs in Q2 2024, with Metalla accruing 197 GEOs [10]. - Tocantinzinho achieved its first gold pour, with expectations for commercial production in H2 2024 [13]. Leadership and Governance - A minimum share ownership policy was adopted for directors and officers to align their financial interests with shareholders [5]. - The company is focused on enhancing its leadership team and operational strategies to support growth [2][5]. Future Outlook - Metalla is positioned for growth with its diversified portfolio of royalties and streams, aiming to leverage its assets in the upcoming commodities cycle [37].