Business
Altius Minerals Provides 1st Quarter 2022 Project Generation Update
ST. JOHN’S, Newfoundland and Labrador / Apr 06, 2022 / Business Wire / Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) is p
About this update from Altius Minerals Corporation
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador / Apr 06, 2022 / Business Wire / Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) is pleased to update its Project Generation (“PG”) business activities and its public junior equities portfolio. The market value of equities in the portfolio at March 31, 2022 was $67.3 million, compared to $55.5 million at December 31, 2021. New investments for the quarter exceeded equity sales for a net cost of $1,400,000. The primary driver of the increase in portfolio valuation in the quarter was due to receipt of payment shares from three different public issuers related to projects sold by Altius as described below. 8,000,000 common shares, being 16.8% of newly listed Labrador Uranium Inc. (LUR:CSE), for sale of the Corporation’s Labrador uranium projects in late 2021 - https://consolidateduranium.com/news-releases/consolidated-uranium-announces-proposed-spin-out-of-labrador-uranium-inc-creating-a-new-labrador-focused-uranium-explorer-and/. Labrador Uranium began trading on March 3rd, 2022, is well-capitalized from an $8 million private placement in November 2021 and intends to commence drill testing of top priority targets, including the Notakwanon uranium project, during the summer of 2022. Altius retains a 2% gross overriding royalty on its vended claims. 13,427,507 common shares, being 19.9% of newly listed High Tide Resources Inc. (HRTC:CSE), (“High Tide”) for the sale of the Corporation’s Labrador West (Goethite Bay) iron ore project in 2019 - http://avidiangold.com/wp-content/uploads/2019/08/Avidian-PR-HT-Aquires-Goethite-Bay-Project-v13-FINAL.pdf. High Tide commenced trading on February 25th, 2022 and plans to release a maiden resource and commence a PEA level study within the next 12 months. Altius retains a 2.75% gross sales royalty on the Labrador West project. 18,836,523 common shares in Technology Minerals Plc. (TM1:LON) (“Technology Minerals”) for the sale of the Corporation’s interest in the Metastur copper-cobalt-nickel project joint venture in Austurias, Spain in late 2021 – https://www.londonstockexchange.com/news-article/TM1/exploration-update-on-the-asturmet-project/15365584. Technology Minerals commenced trading on the London Exchange in November 2021. Altius retains a 1.5% net smelter return (“NSR”) royalty on all concessions comprising the Metast...