Silver Crown Royalties Inc. has released its audited financial results for the year ended December 31, 2025, reporting record revenues alongside strategic developments in its silver royalty portfolio. The company filed its consolidated financial statements, management discussion and analysis, and annual information form on SEDAR+ at https://www.sedarplus.ca and will upload these documents to its website at https://www.silvercrownroyalties.com.
For the fiscal year 2025, the company generated record revenues of $1,233,408 based on minimum aggregate quarterly payments equivalent to 22,281 silver ounces under its royalty agreements. This represents significant growth from the previous year's revenue of $581,337, which was based on minimum payments of 14,525 silver ounces. The company attributes this improvement to the dramatic macroeconomic shift in silver markets, with silver prices currently trading above US$70 per ounce, representing an increase of over 100% during the fiscal year.
Despite the revenue growth, Silver Crown Royalties reported a total loss of $4,309,043 for 2025, compared to losses of $3,593,343 in 2024 and $1,483,543 in 2023. The company completed several strategic acquisitions during the year, including the acquisition of an additional material cash-flowing silver royalty on PPX Mining's Igor 4 Project in Peru. This acquisition positions the company for what management describes as "aggressive revenue growth in 2026."
Peter Bures, Silver Crown's Chief Executive Officer, stated that 2025 was a formative year for the company, with multiple royalty acquisitions positioning it for future growth. The company currently holds over C$7 million in cash and silver bullion on its balance sheet, which management indicates will allow for additional royalty acquisitions without further shareholder dilution.
The company's portfolio includes several key assets with varying operational statuses. On the Igor 4 Project in Peru, Silver Crown completed the acquisition of a royalty for 15% of the cash equivalent of silver produced, with minimum quarterly payments of 14,062.50 ounces beginning March 31, 2026. During 2025, PPX Mining paid the company $276,637 in royalty payments under this agreement, with management anticipating "exponentially higher royalty payments" once minimum payment obligations commence.
On August 13, 2025, the company acquired a silver royalty on EDM Resources Inc.'s Scotia Mine in Nova Scotia, equal to 90% of net proceeds from silver ounces sold, with minimum quarterly deliveries of 1,750 ounces commencing upon commercial production. EDM continues to advance financing and permitting work toward a formal production restart.
The company holds a royalty on the PGDM Complex in Brazil, though Pilar Gold encountered temporary setbacks in restarting production during 2025. Silver Crown took a conservative approach and recognized an allowance for expected credit loss of $530,409 relating to royalties receivable from this asset. Management remains optimistic about progress in 2026 and will provide further updates as they become available.
At the Elk Gold mine, mining operations were halted in Q2 2025 due to financial challenges under the previous operator. Following court-approved receivership proceedings, a new team acquired the operation. The company anticipates a temporary pause of cash inflows for approximately three years as the new operator optimizes operations, leading to a non-cash impairment of $940,446 on this royalty for 2025.
The company also holds a royalty on BacTech Environmental Corporation's future bioleaching facility in Ecuador, but BacTech has not made significant progress toward financing and development milestones. Consequently, management created an impairment loss provision equal to the carrying value of this royalty interest for 2025.
These financial results and operational updates come during a period of significant silver price appreciation, which directly impacts the company's revenue potential from its royalty portfolio. The strategic acquisitions completed in 2025, combined with the company's strong cash position, suggest potential for expanded royalty holdings and revenue growth in the coming year, though operational challenges at some portfolio assets continue to present financial headwinds.
