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.
Notable vs. Peers
- Jurisdiction risk score of 5/10 is meaningfully riskier than the peer average of 7.8/10.
- Trading within 7% of its 52-week high — strong recent price momentum.
Jurisdiction (40%, counts 100% here)5/10
Royalty/streaming company -- risk here reflects the underlying, revenue-dominant royalty asset (the San Albino gold stream/purchase agreement tied to Mako Mining's producing mine in Nicaragua) rather than Sailfish's own corporate domicile (Road Town, British Virgin Islands). Nicaragua carries real authoritarian-governance and political risk; gold mining continues to operate and attract investment, but this is a materially higher-risk jurisdiction than Canada/US/Australia.
Infrastructure (40%)Not scored
A royalty/streaming company holds interests in other operators' mines rather than building its own, so a flagship infrastructure checklist isn't scored for it.
Nearby producing mine (20%)Not scored
Not scored for a royalty/streaming company, which doesn't build or run a mine of its own.
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 | Gold | Other Stream-structured, NSR-equivalent (source hedges between the two terms) | 3% | Production | — |
Mt. Hamilton Mako US Corp. · USA (Nevada) | 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) | Gold | Royalty NSR | 3% | — | H1 2028 |
Gavilanes Advance Metals Limited · Mexico (Durango) | 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.; also Executive Chairman & Director of Sailfish Royalty Corp. Former Executive Chairman and Interim CEO of Marlin Gold Mining Ltd. 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.; also Chief Financial Officer & Corporate Secretary of Riley Gold 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.