Business
Altius Minerals Reports Q1 2018 Revenue of $15.8M and Adjusted EBITDA of $12.7M
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (“Altius” or the “Corporation”) (ALS:TSX) reports attributable royalty reven
About this update from Altius Minerals Corporation
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (“Altius” or the “Corporation”) (ALS:TSX) reports attributable royalty revenue(1) of $15.8 million ($0.37 per share) for the quarter ended March 31, 2018 compared to $13.4 million ($0.31 per share) for the three month period ended April 30, 2017. The strong revenue growth of 18% over the prior year period is mainly attributable to improved prices for most base metal and bulk mined commodities as well as significant growth in production from Chapada and the potash royalty portfolio. Adjusted EBITDA(1) of $12.7 million ($0.29 per share) for the three months represents a margin of approximately 80%, and compares to $10.3 million ($0.24 per share) or 77% for the three months ended April 30, 2017. Net earnings for the three months were $2.5 million ($0.06 per share) including a $2.2 million non-cash unrealized loss adjustment for the changes in the value of a convertible debenture and share purchase warrants. The earnings per share in the first quarter of 2018 compared to a net loss of $0.96 million ($0.02 per share) in the three months ended April 30, 2017. Base metal royalty revenue was up by 14% period over period and accounted for 45% (36% copper and 9% zinc) of royalty revenue with higher copper and zinc prices and higher production volumes at Chapada more than offsetting reduced copper production at 777. Thermal coal royalty revenue was up 10% (as mining moved onto higher royalty rate lands at Sheerness) and represented 26% of total royalty revenue. Potash royalty revenue increased 45% due largely to improved prices and continuing royalty volume increases, particularly at Rocanville, to represent 15% of total royalty revenue. Indirect iron ore revenue related to dividends paid by Labrador Iron Ore Royalty Corporation was up by 29% period over period and represented 7% of total royalty revenue. The following table summarizes the financial results for the quarter ended March 31, 2018. Three months ended, March 31, 2018 April 30, 2017 $ $ Revenue Attributable royalty 15,805 13,378 Project generation 292 75 Attributable revenue (1) 16,097 13,453 Adjust: joint venture revenue (6,702) &...