Business
Altius Minerals Reports Third Quarter 2021 Expected Attributable Royalty Revenue of Approximately $20.7 million
ST. JOHN’S, Newfoundland and Labrador / Oct 14, 2021 / 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 / Oct 14, 2021 / Business Wire / Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expects to report attributable quarterly royalty revenue† of approximately $20.7 million ($0.50 per share) for the third quarter ended September 30, 2021. This compares to quarterly revenue of $16.2 million ($0.39 per share) in the comparable prior year quarter and $21.9 million ($0.53 per share) in Q2 2021. Summary of attributable royalty revenue (in thousands of Canadian dollars) Three months ended September 30, 2021 Three months ended June 30, 2021 Three months ended September 30, 2020 Base metals $8,216 $9,394 $8,677 Iron ore (1) $6,035 $5,029 $1,293 Potash $3,788 $4,516 $3,158 Thermal (electrical) coal $2,562 $2,140 $2,668 Metallurgical coal $0 $0 $291 Other royalties and interest $135 $827 $142 Attributable royalty revenue $20,736 $21,906 $16,229 See non-IFRS measures section of our MD&A for definition and reconciliation of attributable royalty revenue (1) Labrador Iron Ore Royalty Corporation dividends received Base metal (primarily copper) revenue of $8.2 million (40% of total) is down from $9.4 million in Q2 2021 as higher production volumes and revenues at Chapada were offset by lower revenues from 777 and Voisey’s Bay. Iron ore revenue in the form of dividends received from Labrador Iron Ore Royalty Corporation (“LIORC”), 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 $6.0 million (29% of total) and compares to $5.0 million recorded in Q2 2021. The increase reflected strong market prices for IOC’s premium quality products during the quarter. Potash revenue of $3.8 million (18% of total) compares to Q2 2021 potash revenue of $4.5 million. Revenue in the third quarter was impacted by annual maintenance shutdowns at the Rocanville, Cory, Allan and Esterhazy mines, which have since been completed. Realized prices in the quarter were broadly reflective of prior quarter market prices due to lag effects. Potash spot market prices increased by an average of more than 80% during the quarter and these impacts...