Business
Altius Minerals Reports Annual Attributable Royalty Revenue of $78M and Adjusted Operating Cash Flow of $1.03 Per Share
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius” or the “Corporation”) reports record attr
About this update from Altius Minerals Corporation
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius” or the “Corporation”) reports record attributable royalty revenue(1) of $78.1 million ($1.83 per share(1)) for the year ended December 31, 2019, which represents an increase of 16% over 2018. Also, and relative to 2018 year-end results, adjusted EBITDA(1) of $62.6 million ($1.46 per share(1)) is 18% higher, adjusted operating cash flow(1) of $44.1 million ($1.03 per share(1)) is 27% higher and adjusted net earnings per share(1) increased by 41% to $22.4 million ($0.55 per share(1)), during 2019. The project generation business contributed $16.8 million from the sale of equity positions (net of cash reinvestments). These net proceeds are not included in the adjusted operating cash flow amount reported above as these are classified under “Investing Activities” within the Corporation’s consolidated statement of cash flows. The Q4 2019 financial results were relatively consistent with the previous quarter last year. Q4 2019 attributable royalty revenue was $17.5 million ($0.41 per share), adjusted EBITDA was $13.6 million ($0.32 per share), adjusted operating cash flow was $9.4 million ($0.22 per share), and adjusted net earnings was $5 million ($0.12 per share). 2019 Capital Allocation Summary The Corporation’s capital allocation priorities are linked to its strategy of creating per share growth through a portfolio of assets that relate to long life, high margin operations while providing its shareholders with exposures that are well aligned with sustainability-related global growth trends. These macro trends include the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steel making and increasing agricultural yield requirements and hold the potential to cause demand surges for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), low-impurity iron ore, and potash. In 2019 Altius added a royalty on Adventus Mining’s Curipamba project, including the copper and gold rich El Domo deposit, for which a positive preliminary economic assessment was published during the year and scoping work towards a pre-feasibility study was begun. Adventus also continues to carry o...