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Altius Minerals Reports Second Quarter Attributable Royalty Revenue1 of $16.5M
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (“Altius” or the “Corporation”) reports that it will release financial resul
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”) reports that it will release financial results for its second quarter of 2018 on August 8, 2018 after the close of market. The Q2 2018 results for the period ended June 30, 2018 will be presented in comparison with the three month period ended July 31, 2017 as a result of the recent conversion to a calendar year end. Altius expects to report attributable royalty revenue1 of approximately $16.5 million, or $0.38 per share, for the three-month period ended June 30, 2018, which is 9.6% higher compared with $15.1 million, or $0.35 per share, reported in the quarter ended July 30, 2017. It is also 4.7% higher than Q1 2018 revenue of $15.8 million, or $0.37 per share. The second quarter results showed year over year growth in base metals and potash and declines in iron ore and thermal coal. Royalty revenues benefited particularly from strong production volume results at Chapada, higher potash prices and the integration of additional potash royalties that were acquired late the first quarter. Labrador Iron Ore Royalty Corp. paid a significantly lower dividend, as the Iron Ore Company of Canada was impacted for most of the quarter by a labour disruption that has since been resolved. Thermal coal revenues were slightly lower as a result of mine sequencing at Sheerness and Highvale mines. Additional details relating to individual royalty performances will be provided with the release of full financial results. Summary of attributable royalty revenue(in thousands of Canadian dollars) Three months endedJune 302018 Three months endedJuly 31 2017 Change Base metals 7,721 7,016 10 % Thermal (electrical) coal 3,288 3,577 -8 % Potash 3,813 1,758 117 % Iron ore (2) 788 1,391 -43 % Metallurgical coal 677 652 4 % Coal bed methane and interest 256 706 -64 % Attributable royalty revenue 16,543 15,100 9.6 % (2) LIF dividends Q2 2018 Financials Conference Call and Web...