Business
Altius Minerals Reports Q2 2022 Expected Attributable Royalty Revenue(1) of $28.2 million
ST. JOHN’S, Newfoundland and Labrador / Jul 14, 2022 / Business Wire / Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expe
About this update from Altius Minerals Corporation
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador / Jul 14, 2022 / Business Wire / Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expects to report Q2 2022 annual attributable royalty revenue of $28.2 million, which compares to $21.9 million of attributable royalty revenue recorded in Q2 2021 and represents a new quarterly record for the Corporation. Royalty Revenue Summary Summary of attributable royalty revenue(in thousands of Canadian dollars) Q2 2022 Q1 2022 Q2 2021 Potash $ 11,450 $ 9,903 $ 4,516 Base & battery metals 8,353 9,960 9,394 Iron ore (1) 2,871 1,437 5,029 Thermal (electrical) coal 4,520 3,113 2,140 Renewable energy and other 982 1,079 827 Attributable royalty revenue $ 28,176 $ 25,492 $ 21,906 See non-GAAP financial measures section of our MD&A for definition and reconciliation of attributable royalty revenue (1) Labrador Iron Ore Royalty Corporation dividends received Potash portfolio revenue during the quarter was $11.5 million, which compares to $4.5 million in the comparable quarter of 2021, reflecting significantly higher average realized prices as well as price reconciliation adjustments of $0.9 million related to 2021 sales. On a year-to-date basis, potash revenue of $21.4 million exceeds the $19.3 million revenue reported for the full year 2021. During the quarter both operators of the mines comprising the Corporation’s potash royalty portfolio signalled intentions to incrementally increase production rates over the next few years through debottlenecking and growth investments in response to projected global supply deficits for the key fertilizer component. Base and battery metal (primarily copper) revenue of $8.4 million for the quarter compares to $9.4 million reported for the second quarter of 2021 due to reduced attributable production volumes. Mine production at the 777 mine ended during the quarter upon the depletion of reserves, wit...