Business
Altius Minerals Provides 2nd Quarter 2018 Project Generation Update
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (“Altius”) (ALS:TSX) is pleased to provide an update on its Project Generati
About this update from Altius Minerals Corporation
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (“Altius”) (ALS:TSX) is pleased to provide an update on its Project Generation (“PG”) business activities and its public junior equities portfolio. The market value of the junior equities portfolio at June 30, 2018 was $60.3 million, compared to $48.8 million at March 30, 2018. The Altius portfolio value includes new investments in the quarter of $2.6 million while portfolio sales generated $2.4 million. The $60.3 million value does not include the $10 million Champion Iron Ore convertible debenture, various in-the-money share purchase warrants or other equities to be received in exchange for announced, but not yet closed, project transactions. It also does not include 11.2 million shares of Aethon Minerals Corporation (AET: TSX-V) (“Aethon”), which are held within a 49% Altius owned business. An updated list of the public equity holdings has been posted to the Altius website at http://altiusminerals.com/projects/junior-equities. Portfolio Additions During the quarter, Aethon began trading after acquiring Mining Equity’s entire mineral property portfolio of Chilean copper-gold projects for 11,200,000 shares or 40% of Aethon. Altius also directly holds a 0.98% gross sales royalty (“GSR”) covering the vended project portfolio. Altius participated in a private placement in Constantine Metals (CEM: TSX-V) that also saw Electrum Strategic Opportunities Fund become a new major shareholder of the company. It also participated in a flow-through private placement in Canstar Resources (ROX: TSX-V), with which it also has a project level equity and royalty agreement that remains subject to final closing. Portfolio Highlights Altius expects that its portfolio companies (in which Altius has >10% equity ownership and/or a project royalty) will carry out in excess of 36 km of exploration drilling during the current year, with five companies having active drill programs underway during the second quarter. Adventus Zinc, in which Altius held a 27% position at quarter end, released ongoing infill drill results from the Curipamba copper-lead-zinc project in Ecuador, which included an intercept of 19.41 meters at a copper equivalent grade of 9.5% (7.0% copper, 1.61 g/t gold, 3.0% zinc, 18.4 g/t silver and 0.14% lead). Adventus also announced a $9.2-million equity...