Business
Altius Minerals 3rd Quarter Project Generation Business Update
Altius Minerals Corp. (ALS:TSX) (ATUSF:OTCQX) (“Altius”) provides an update on its project generation (PG) business activities and the performance of its junior
About this update from Altius Minerals Corporation
[{"type":"text","content":"Altius Minerals Corp. (ALS:TSX) (ATUSF:OTCQX) (“Altius”) provides an update on its project generation (PG) business activities and the performance of its junior equities portfolio for the third quarter of 2020. The market value of the junior equities portfolio was $45.5 million at September 30, 2020, compared with $48.4 million at June 30, 2020. During the quarter, sales of equities net of new purchases generated $715,000 in cash proceeds. The market value figure does not include certain project sales-based consideration shares that are expected to be received in relation to recent agreements or certain private company holdings. These values will be reflected in future periods upon completion of closing conditions and / or public listings. An updated list of the public equity holdings is posted on the Altius website. Altius anticipates approximately 130 kms of no-direct-cost drilling exposure through its portfolio of exploration and development focused equities and royalties during 2020, with results from much of this weighted towards the fourth quarter owing to Covid-19 related reduced field activities during the second and third quarters. This estimate does not include significant brownfield drilling programs that are ongoing or planned around producing assets that Altius holds royalties/streams over, including most notably the major expansion focused drilling efforts underway at Chapada. Thus far in 2020 more than $140 million in third party capital financing has been arranged by portfolio companies to further the advancement of mineral projects that Altius has exposure to through royalty and/or equity interests. This success in capital attraction, largely from strategic and institutional investors, attests to the quality of projects and management teams that Altius has been strategically supporting through the past several years while capital availability was cyclically weaker. It also clearly signals the beginning of a period of dramatically increased exploration and development activity and potential option value realization for our shareholders through our project generation based growth initiatives. Q3 2020 Portfolio Company and Project Generation Highlights Adventus Mining Corp. (ADZN:TSX-V) (“Adventus”) completed a $38 million bought deal financing to fund its exploration and development activities at the Curipamba pro...