Sailfish Royalty Corp.
Sailfish Royalty Corp. is a British Virgin Islands-domiciled, TSXV-listed precious-metals royalty and streaming company (also OTCQB:SROYF), graduating to TSX Venture Tier 1 status in May 2026. Its portfolio centers on an 11-year gold purchase agreement / stream equivalent to a 3% NSR on the San Albino area in northern Nicaragua (Mako Mining Corp.'s producing mine), plus a 2% NSR on the Gavilanes Silver Project in Durango State, Mexico. Q1 2026 results: royalty revenue of US$999,378, total revenue of US$1,809,769, gross profit of US$1,724,508, 8,924 silver-equivalent stream ounces and 6 gold stream ounces earned. On 10 April 2026 the company closed the sale of its Terraco Gold Corp. shares to OR Royalties for after-tax cash consideration of US$168 million, and on 13 April 2026 repaid a US$40,000,000 short-term loan plus US$1,794,310 accrued interest in full. Stage recorded as PRODUCTION (royalty on a producing mine, not an operator itself), consistent with this database's treatment of other royalty/streaming companies (FNV, RGLD, VMET) -- construction-milestone tracking is not applicable, as Sailfish has no mine of its own to permit/construct.
Notable vs. Peers
- Jurisdiction risk score of 5/10 is meaningfully riskier than the peer average of 7.8/10.
Your Rankings
Sailfish Royalty Corp. does not operate mines, so it has no technical study of its own. What it holds instead is a book of royalty and stream interests in other companies' assets -- the portfolio below. Only figures the company has actually disclosed are shown; nothing here is estimated.
| Asset | Commodity | Interest | Rate / price | Stage | Next Production |
|---|---|---|---|---|---|
San Albino Mako Mining · Nicaragua 3% NSR-equivalent on the ~3.5 km2 core area; 2% NSR on the surrounding ~134.5 km2. ratePct above records the core-area rate only. | Gold | Other Stream-structured, NSR-equivalent (source hedges between the two terms) | 3% | Production | — |
Mt. Hamilton Mako US Corp. · USA (Nevada) Permitted, pre-production. 132-month gold stream at 20% of LBMA PM gold price for the first 60 months (~341.7 oz/month), converting to a 2% NSR thereafter. ratePct/streamPriceUsd left null -- current structure is a %-of-spot formula, not a fixed $/oz figure, and the eventual 2% NSR is a future term not yet active. | Gold | Stream 132-month gold stream, converts to 2% NSR after | 20% of LBMA PM gold price (first 60 months, ~341.7 oz gold/month) | Permitting | — |
Spring Valley Waterton Mining · USA (Nevada) Up to 3% NSR. Fully permitted, multi-million-ounce (3.8Moz reserves) development-stage project operated by Waterton Mining (via its Solidus Resources subsidiary). The project is now fully funded -- Wheaton Precious Metals' own Nov 2025 US$670M gold stream was part of a $1.3B committed capital package -- with full construction beginning in 2026 and first gold production targeted for H1 2028. | Gold | Royalty NSR | 3% | — | H1 2028 |
Gavilanes Advance Metals Limited · Mexico (Durango) 2% NSR. Source describes stage as 'exploration/development' -- left null rather than picking one of the two. Sailfish sold its direct ownership (via its Swordfish Silver Corp subsidiary) to Advance Metals Limited in Dec 2024, converting its position into this royalty. Still an exploration-stage silver project; no construction or production timeline has been disclosed. | Silver | Royalty NSR | 2% | — | — |
Management Team
Chief Executive Officer and Director of Sailfish Royalty Corp., appointed CEO in September 2022. Professional Engineer with mining capital-markets experience since 1997, including early involvement with Kirkland Lake Gold, Novagold and Lake Shore Gold. Currently chairs Signature Resources Ltd. Former Director of Mining Equity Research at National Bank Financial, with prior equity research roles at Wellington West, Scotia Capital and TD Securities. Holds a Bachelor of Applied Science in Geological and Mineral Engineering from the University of Toronto and is a registered Professional Engineer in Ontario.
Chief Executive Officer and Director of Mako Mining Corp. Former Executive Chairman and Interim CEO of Marlin Gold Mining Ltd. (the direct corporate predecessor of both Mako Mining, via Golden Reign Resources' 2018 acquisition of Marlin's mining/development assets, and Sailfish Royalty Corp., already tracked in this DB as FISH, where he also currently serves as Executive Chairman -- a real, disclosed concurrent role, not separately scored -- so this tenure is not scored as an external prior company for either reason). Career: Consultant, Wexford Capital LP (2012-2013, precious metals portfolios); Senior Analyst, Red Kite Capital Management (2010-2012, Mine Finance funds); Associate, Standard Bank (to 2010, Structured Commodity Products and Mine Finance). MBA, New York University; BS Chemical Engineering, Carnegie Mellon University.
Chief Financial Officer of Sailfish Royalty Corp. Chartered Accountant with more than 15 years of mining-industry experience. Previously CFO of Terraco and became a consultant to Sailfish in 2019 following the acquisition of Terraco, before being appointed CFO, replacing Peter Van Zoost.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Wexford Capital LP, a diversified alternative-investment firm, is confirmed as Sailfish's majority shareholder (over 60%), continuing to increase its position through 2026. A rules-based sector ETF also holds a small stake. No confidently genuine open-market insider buying was found in the visible record.
No notable insiders tracked for this miner yet.