Latest news with #Goldmoney
Globe and Mail
30-06-2025
- Business
- Globe and Mail
Goldmoney Inc. Reports Fiscal Year 2025 Annual Results and Publishes Annual Letter to Shareholders
Tortola, British Virgin Islands--(Newsfile Corp. - June 30, 2025) - Goldmoney Inc. (TSX: XAU) (US: XAUMF) ("Goldmoney" or the "Company"), today announced financial results for the fiscal year ended March 31, 2025. All amounts are expressed in Canadian dollars unless otherwise noted. Financial Highlights Group Tangible Capital of $150 million, an increase of 19% YoY. Group Tangible Capital per Share of $11.61, an increase of 21% YoY. Group Tangible Capital per Share excluding MENE of $10.63, an increase of 32% YoY. Non-IFRS Adjusted Net Income of $22.6 million, an increase of 35% YoY. Repurchased and cancelled total of 569,800 shares at an average purchase price of $8.41 in fiscal year 2025. In total, shares outstanding were reduced by 1.6% YoY. Annual Performance Metrics Table ($000s, except earnings per share) 2025 2024 2023 2022 2021 Key Performance Metrics (Balance Sheet) Shares outstanding 12,925 13,137 13,996 15,126 15,118 Tangible equity exclusive of MENE 137,337 105,457 107,599 100,032 90,830 Tangible equity per share exclusive of MENE 10.63 8.03 7.69 6.61 6.01 Total assets 341,916 244,092 228,222 233,814 190,218 Total liabilities 178,939 102,914 56,099 58,878 82,047 Key Performance Metrics (Operational) Total operating income 34,370 24,409 21,508 13,179 16,094 Net income (loss) 14,570 (22,087) 5,345 (7,228) 9,815 Non-IFRS adjusted net income (loss) 22,559 16,749 14,552 7,242 14,081 Annual Shareholder Letter Read the full Goldmoney Inc. Fiscal Year 2025 Shareholder Letter here. About Goldmoney Inc. Goldmoney Inc. (TSX: XAU) specializes in the investment and custody of enduring real assets. Through its subsidiaries, the Company offers precious metals trading services to clients, including secure custody and storage solutions. Goldmoney also maintains diversified interests in property investment and jewelry manufacturing. For more information about Goldmoney, visit Financial Information and IFRS Standards The selected financial information included in this release is qualified in its entirety by, and should be read together with, the Company's consolidated financial statements for the fiscal year ended March 31, 2025 and prepared in accordance with IFRS Accounting Standards ("IFRS") and the corresponding management's discussion and analysis ("MD&A"), which are available under the Company's profile on SEDAR at Non-IFRS Measures This news release contains non-IFRS financial measures; the Company believes that these measures provide investors with useful supplemental information about the financial performance of its business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating its business. Although management believes these financial measures are important in evaluating the Company's performance, they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. These non-IFRS financial measures do not have any standardized meaning and may not be comparable with similar measures used by other companies. For certain non-IFRS financial measures, there are no directly comparable amounts under IFRS. These non-IFRS financial measures should not be viewed as alternatives to measures of financial performance determined in accordance with IFRS. Moreover, presentation of certain of these measures is provided for year-over-year comparison purposes, and investors should be cautioned that the effect of the adjustments thereto provided herein have an actual effect on the Company's operating results. Tangible Capital is a non-IFRS measure. This figure excludes from total shareholder equity (i) intangibles, and (ii) goodwill, and is useful to demonstrate the tangible capital employed by the business. Non-IFRS Adjusted Net Income is a non-IFRS measure, defined as total comprehensive income (loss) adjusted for non-cash and non-core items which include, but is not limited to, revaluation of precious metal inventories, fair value movements, stock-based compensation, depreciation and amortization, foreign exchange fluctuations and gains and losses on investments. For a full reconciliation of non-IFRS financial measures used herein to their nearest IFRS equivalents, please see the section entitled "Reconciliation of Non-IFRS Financial Measures" in the Company's MD&A for the year ended March 31, 2025. Media and Investor Relations inquiries: Sean Ty Chief Financial Officer Goldmoney Inc. +1 647 250 7098 Forward-Looking Statements This news release contains or refers to certain forward-looking information. Forward-looking information can often be identified by forward-looking words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "may", "potential" and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. All information other than information regarding historical fact, which addresses activities, events or developments that the Goldmoney Inc. believes, expects or anticipates will or may occur in the future, is forward-looking information. Forward-looking information does not constitute historical fact but reflects the current expectations the Company regarding future results or events based on information that is currently available. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur. Such forward-looking information in this release speak only as of the date hereof. Forward-looking information in this release includes, but is not limited to, statements with respect to: financial performance and growth of the Company's business; expected results of operations, the market for the Company's products and services and competitive conditions; and the establishment of a real estate investment strategy. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the Company's operating history; history of operating losses; future capital needs and uncertainty of additional financing; fluctuations in the market price of the Company's common shares; the effect of government regulation and compliance on the Company and the industry; legal and regulatory change and uncertainty; jurisdictional factors associated with international operations; foreign restrictions on the Company's operations; product development and rapid technological change; dependence on technical infrastructure; protection of intellectual property; use and storage of personal information and compliance with privacy laws; network security risks; risk of system failure or inadequacy; the Company's ability to manage rapid growth; competition; the ability to identify opportunities for growth internally and through acquisitions and strategic relationships on terms which are economic or at all; the ability to identify and complete the acquisition of suitable real estate investment opportunities on terms which are economic or at all; effectiveness of the Company's risk management and internal controls; use of the Company's services for improper or illegal purposes; uninsured and underinsured losses; theft & risk of physical harm to personnel; precious metal trading risks; and volatility of precious metals prices & public interest in precious metals investment; and those risks set out in the Company's most recently filed annual information form, available on SEDAR+. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, except as required by law.
Gulf Insider
12-02-2025
- Business
- Gulf Insider
As Gold Nears $3,000, Here's How Its Surge Compares to Bitcoin and the Stock Market
Gold has been on an impressive run toward the $3,000-an-ounce milestone, with a years-long buying spree by central banks and economic uncertainty tied to President Donald Trump's policies leading the metal to outperform other asset classes so far this year. Gold-mining stocks, meanwhile, have started to play catch up this year after lagging behind the metal's climb in 2024. Yet long term, despite record highs for gold futures, the metal has failed to keep up with the pace of lofty gains in bitcoin and the U.S. stock market. 'Gold typically does well when other assets do badly — most of all, when the stock market falls and keeps falling,' said Adrian Ash, London-based director of research at physical-gold marketplace BullionVault. 'But stocks right now are also knocking on record highs,' Ash noted. In his more than 25 years in the gold market, he said he's 'only seen gold and stocks move like this twice' — first in 2005 to 2007 on the eve of the global financial crisis, and in mid-2020 when 'stimmy checks, zero rates and pandemic [quantitative easing] laid the groundwork for double-digit inflation.' Year to date, futures prices for gold in New York GC00-0.37% have climbed more than 11%, as of Feb. 10, while the VanEck Gold Miners exchange-traded fund GDX+0.08% climbed by nearly 24%. The S&P 500 stock index SPX-0.78%, meanwhile, has edged up by over 3% so far in 2025, after marking a record-high close at 6,118.71 on Jan. 23 While gold's approach to the latest price milestone may be reason for bulls to celebrate, the metal's performance isn't quite as impressive if you look at how it's performed since mid-2020. That marked the final months of Trump's first presidency and gold's rise past the psychologically important $2,000 mark. As of Feb. 10, gold futures, based on the most active contract, have climbed 47.8% since July 31, 2020, when gold first traded above $2,000 on an intraday basis, according to Dow Jones Market Data. That's impressive compared with an 18% fall in the iShares U.S. Treasury Bond exchange-traded fund GOVT-0.55% over that same period, but pales in comparison to a cumulative rise of about 761% for bitcoin BTCUSD+0.18% and a total return of 98.7% for the S&P 500. So few people are paying attention to gold's rise to record highs, 'let alone buying. They are focused on what have been the hot markets like bitcoin and tech stocks. But this is not unique — it's the way bull markets begin.' — James Turk, Goldmoney So few people are paying attention to gold's rise to record highs, 'let alone buying,' said James Turk, founder of precious-metals dealer Goldmoney XAU-0.90% XAUMF+0.24%. 'They are focused on what have been the hot markets like bitcoin and tech stocks. But this is not unique — it's the way bull markets begin.' Problems ahead? While the rise in U.S. stocks suggest optimism among investors, gold's impressive climb to the psychologically important $3,000-an-ounce mark may be pointing to problems ahead for the global economy. 'If gold is a barometer of economic and political fear, this run to $3,000 says that the world is becoming ever more anxious and mistrustful,' BullionVault's Ash told MarketWatch. Gold for April delivery on Comex GCJ25-0.33% settled at a record high of $2,934.40 on Monday, after trading as high as $2,947.20. 'While Trump voters see him fixing the USA's problems at home, money managers and foreign central-bank bosses see uncertainty and a real risk of chaos in global trade, finance and stability,' Ash said. Gold thrives on economic uncertainty, financial risk and geopolitical turmoil. The 47th president is delivering exactly that.' — Adrian Ash, BullionVault So at least short term, the biggest factor driving gold to never-before-seen highs is Trump, he said. 'Gold thrives on economic uncertainty, financial risk and geopolitical turmoil. The 47th president is delivering exactly that.' 'That's led gold to race ahead of all other asset classes so far this year,' he added. When it all began Central banks have been big buyers of gold and stretched their gold-buying streak to a 15th consecutive year in 2024, buying up 1,044.6 metric tons of the metal, according to the World Gold Council. 'Central banks, primarily in the emerging markets, have been significant buyers of gold for their official reserves for 15 straight years,' said George Milling-Stanley, chief gold strategist at State Street Global Advisors. These purchases doubled from 2021 to over 1,000 metric tons in 2022, 'partly in response to the decision by the U.S. government to impose sanctions on Russia … and [buying] remained at this elevated level in 2023 and 2024.' Gold demand in emerging-market countries for both jewelry and investment increased significantly as 2024 progressed, Milling-Stanley said. Gold investment in Western Europe and North America, meanwhile, also climbed strongly last year — partly for macroeconomic reasons, but also in response to the tense geopolitical situation, he said. Goldmoney's Turk believes gold's latest run to record highs may have begun with the collapse of Silicon Valley Bank back in March 2023. That 'awakened investors around the globe to the fragility of the banking system to high interest rates,' he said, contributing to gold's rise to record highs. The metal is the 'ultimate safe haven to protect your purchasing power, because when you own physical metal, you do not have counterparty risk,' said Turk. Moment of truth Milling-Stanley, meanwhile, said gold at $3,000 may provide 'validation for investors who allocated to gold in the past.' Greater media attention at this level might spark 'a fear-of-missing-out atmosphere for gold, attracting greater participation from investors,' he added. Some private-sector investors might find that price point 'a bit rich,' but in general, central banks and sovereign-wealth funds have tended to be somewhat 'less sensitive to price movements than the private sector,' said Milling-Stanley. Still, the real question will be whether gold will be able to not just reach but hold at $3,000 for long. 'Big round numbers have spooked gold in the past,' said Ash — pointing out that London benchmark gold prices struggled to hold both $1,000 and $2,000 after first hitting those all-time highs. After breaking $2,000 in August 2020, London benchmark prices spent more than 90% of the next 28 months trading back below that level, before finally moving and holding above it, he said.
