Star Royalties (STRR) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue was $40,104, down from $125,450 year-over-year, mainly due to an intentional operational slowdown at Keysbrook, with expectations for improved production in coming quarters.

• Net loss for Q3 2025 was $5,429, a significant improvement from a net loss of $1,330,714 in Q3 2024.

• The company’s outlook is buoyed by positive developments at Copperstone and Elk Gold, and a sustained gold price near $4,000/oz.

Financial highlights

• Revenue for Q3 2025 was $40,104, compared to $125,450 in Q3 2024.

• Net loss for Q3 2025 was $5,429, versus a net loss of $1,330,714 in Q3 2024.

• Basic and diluted loss per share was $0.00, compared to $0.02 in the prior year.

• Cash flow used in operating activities was $213,935; investing activities used $220,761; financing activities provided $334,984.

• Current assets remain stable at approximately $3.4 million.

Outlook and guidance

• Copperstone mine restart is on track for late 2026, with robust project economics and permitting expected by year-end 2025.

• Elk Gold’s receivership sale process is expected to conclude by January 2026, potentially providing significant optionality.

• Keysbrook’s LOM extension approval is anticipated in early 2026, with higher production expected in coming quarters.

• Green Star is focused on deploying remaining capital into cleantech and decarbonization opportunities.