Silver Crown Royalties Inc. (Cboe:SCRI, OTCQX:SLCRF, BF:QS0) released its audited financial results for the year ended December 31, 2025, highlighting record revenue of $1,233,408, a 112% increase from $581,337 in 2024. The growth was fueled by the acquisition of new silver royalties, including the PPX Royalty on the Igor 4 Project in Peru and the Scotia Mine royalty in Nova Scotia, as well as the benefit of silver prices trading above US$70 per ounce, more than double the prior year.
The company reported a total loss of $4,309,043 for 2025, compared to a loss of $3,593,343 in 2024. The loss includes non-cash impairment charges of $940,446 on the Gold Mountain Royalty and a $530,409 allowance for expected credit loss on the PGDM Complex royalty, reflecting operational challenges at those assets. Despite these setbacks, management remains optimistic about long-term value from these royalties.
Silver Crown ended the year with over C$7 million in cash and silver bullion, positioning it to pursue additional royalties without equity dilution. CEO Peter Bures stated, “We structured and acquired multiple royalties positioning us for aggressive revenue growth in 2026. Our pipeline remains robust and we continue to advance a number of royalty opportunities.”
The PPX Royalty, acquired for US$2,740,000, provides 15% of silver produced from the Igor 4 Project, with minimum quarterly payments of 14,062.5 ounces starting March 31, 2026. During 2025, the company received $276,637 in payments under this royalty. The Scotia Mine royalty, acquired in August 2025, entitles SCRi to 90% of net proceeds from silver sales, with minimum annual deliveries of 7,000 ounces over 10 years, pending commercial production restart.
The PGDM Complex royalty, with a minimum of 4,000 ounces per quarter, faced delays in production restart by Pilar Gold Inc. The company recorded an expected credit loss of $530,409 on receivables from this royalty. The Elk Gold Mine royalty, subject to minimum 1,500 ounces per quarter, saw operations halted in Q2 2025 due to the previous operator's financial challenges. A new operator acquired the mine through receivership, and the company recognized a non-cash impairment of $940,446, anticipating a temporary pause of cash inflows for approximately three years.
Regarding the BacTech royalty on a future bioleaching facility in Ecuador, management recorded an impairment loss equal to the carrying value due to lack of progress in financing and development milestones. For complete details, the audited financial statements and MD&A are available on SEDAR+ and the company's website at silvercrownroyalties.com.
