Business
Altius Minerals Provides 2nd Quarter 2021 Project Generation Update
ST. JOHN’S, Newfoundland and Labrador / Jul 07, 2021 / 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 / Jul 07, 2021 / 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 June 30, 2021 was approximately $64.5 million, compared to $54.2 million at March 31, 2021. The portfolio value includes receipt of 600,000 shares of Champion Iron Limited (CIA:TSX) that were distributed to secured debt holders as part of its acquisition of the Kami project through a receivership process, and also 7.14 million shares of TRU Precious Metals Corp. (TRU:TSXV) that were received as payment for the Golden Rose property during the quarter. The portfolio value does not include equity sales amounts of $1.9 million but does incorporate new investments made of $2.1 million during the quarter. An updated list of the public equity holdings has been posted to the Altius website at http://altiusminerals.com/projects/junior-equities. Portfolio and Project Highlights Altius PG equity companies have raised more than $150 million from the beginning of 2020 to the end of Q1 2021. This pace continued in Q2, with an additional $68 million closed in the quarter, mainly by Surge Copper Corp. (SURG:TSXV) (“Surge”) ($14 million) and Uranium Royalty Corporation (URC:TSXV) ($37 million). Adventus Mining Corporation (ADZN:TSXV) (“Adventus”) continued to report positive high grade infill drilling results from its copper and gold rich El Domo deposit located within the Curipamba project. A feasibility study for El Domo is expected to be completed in the fourth quarter of 2021. Adventus also recently commenced exploratory drilling on targets within the broader Curipamba project. In addition to its large equity holding in Adventus, Altius holds a 2% net smelter return (“NSR”) royalty covering the Curipamba project as well as royalties covering several additional exploration projects located in Ireland and Newfoundland that Adventus has either sold to or partnered with third party companies including South32 and Canstar Resources.. Orogen Royalties Inc. (OGN:TSVV) (“Orogen”) reported additional exploration project sales that included retained royalties as well as providing insight into First Majestic Silver Corporation’s continued a...