Business
Altius Minerals Reports Q1 2024 Expected Attributable Royalty Revenue(1)
All references in thousands of Canadian dollars, except per share amounts, unless otherwise indicated ST. JOHN’S, Newfoundland and Labrador / Apr 18, 2024 / Bus
About this update from Altius Minerals Corporation
[{"type":"text","content":"All references in thousands of Canadian dollars, except per share amounts, unless otherwise indicated ST. JOHN’S, Newfoundland and Labrador / Apr 18, 2024 / Business Wire / Altius Minerals Corporation (ALS: TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expects to report Q1 2024 attributable royalty revenue(1) of $17.4 million. Royalty Revenue Summary Summary of attributable royalty revenue(1) Q1 2024 Q4 2023 Q1 2023 Base & battery metals 5,344 4,420 4,869 Potash 5,129 5,023 9,032 Iron ore# 1,683 1,682 1,870 Renewable energy 3,337 1,829 1,345 Thermal (electrical) coal – 1,225 3,002 Interest and other 1,942 1,795 1,275 $ 17,435 $ 15,974 $ 21,393 (#) Labrador Iron Ore Royalty Corporation dividends received Base and battery metals (primarily copper) revenue of $5.3 million for the quarter reflects higher copper stream deliveries from Chapada. At Voisey's Bay, nickel production continued to be impacted by the transitioning to underground mining from prior open pit based production. The Corporation's preliminary cost of sales related to the Chapada copper stream, excluding any depletion for the quarter, is $1.5 million. Potash portfolio revenue during the first quarter was $5.1 million, which is similar to the prior quarter but lower than the first quarter in 2023, the latter of which included non-recurring price adjustments of $2.2 million and higher average realized potash prices. Iron ore royalty revenue in the form of dividends from Labrador Iron Ore Royalty Corp., which serves as a pass-through vehicle for royalty income and equity dividends related to the operations of Iron Ore Company of Canada, was $1.7 million. Renewable energy royalty revenue at Altius Renewable Royalties Corp. (\"ARR\") of $3.3 million continues its growth trajectory. This current quarter included the commissioning of the Canyon wind project to bring the total number of revenue generating project royalties to 11. In addition the GBR joint venture recognized revenue from renewable project sales proceeds and an escrow release from the Titan Solar project. The Corporation owns 58% of ARR. Thermal...