04:40 PM EDT, 03/28/2024 (MT Newswires) -- Metalla Royalty & Streaming ( MTA ) on Thursday said its 2023 loss narrowed on higher revenue.

The company said it lost US$5.84 million, or US$0.11 per share, over the year, compared with a loss of US$10.93 million, or US$0.24, in 2022.

Revenue rose 90% to US$4.6 million from US$2.41 million.

"2023 was a transformative year for Metalla during which we closed the largest transaction in the Company's history, to merge with Nova Royalty , creating one of the most robust and sustainable growth portfolios in the royalty sector. During 2023, our attributable gold equivalent ounces received exceeded the top end of our guidance by 14%, delivering just under 4,000 ounces for the year," chief executive Brett Heath said in a release.

Metalla shares closed up C$0.11 to C$4.22 on the TSX Venture Exchange.