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Altius Minerals Reports Q3 2023 Expected Attributable Royalty Revenue(1) of $17.9M
All references in thousands of Canadian dollars, except per share amounts, unless otherwise indicated. ST. JOHN’S, Newfoundland and Labrador / Oct 19, 2023 / Bu
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 / Oct 19, 2023 / Business Wire / Altius Minerals Corporation (ALS: TSX) (ATUSF: OTCQX): Altius Minerals Corporation expects to report Q3 2023 attributable royalty revenue(1) of $17.9 million. Royalty Revenue Summary Summary of attributable royalty revenue(1) Three months ended September 30, 2023 June 30, 2023 September 30, 2022 Base & battery metals 4,231 4,834 5,535 Potash 3,870 6,081 10,276 Iron ore# 3,553 2,431 3,740 Renewable energy 2,607 1,310 2,089 Thermal (electrical) coal 2,000 2,626 3,768 Interest and other 1,608 1,416 827 $ 17,869 $ 18,698 $ 26,235 (#) Labrador Iron Ore Royalty Corporation dividends received Base and battery metals (primarily copper) revenue of $4.2 million for the quarter compares to $5.5 million reported for the comparable quarter of 2022 due primarily to the scheduled closure of the 777 mine in Q2 of 2022 and lower copper stream deliveries from Chapada. The Corporation recognized a small royalty from the ramp up of Groto do Cirilo during the quarter marking its first lithium royalty revenue. Potash portfolio revenue during the quarter was $3.9 million, which compares to $10.3 million in the comparable quarter of 2022, reflecting significantly lower average realized 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 (IOC), was $3.6 million, as compared with Q3 2022 iron ore revenue of $3.7 million. Renewable energy royalty revenue of $2.6 million compares to $2.1 million recorded in the same period last year. Thermal coal royalty revenue of $2.0 million was received in Q3 2023 compared to $3.8 million during the comparable quarter of last year reflecting lower attributable production volumes at the Genesee Mine that were partially offset by a high...