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Elemental Altus Royalties Announces 65% Increase in Guidance for 2023
Vancouver, British Columbia--(Newsfile Corp. - April 20, 2023) - Elemental Altus Royalties Corp.&...
About this update from Elemental Royalty Corporation
[{"type":"text","content":"Elemental Altus Royalties Announces 65% Increase in Guidance for 2023Vancouver, British Columbia--(Newsfile Corp. - April 20, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) (\"Elemental Altus\" or \"the Company\") announces 2023 guidance of between 9,000 to 10,200 Gold Equivalent Ounces (\"GEOs\") representing at its midpoint an approximate 65% increase on the 5,800 GEOs received in 2022. At a US$1,800 per ounce average realized gold price and US$3.75 per pound of copper, this guidance would provide the Company with 2023 revenue of approximately US$16.2 million to US$18.4 million1 with approximately 70% attributable to gold and 30% to copper.Frederick Bell, CEO of Elemental Altus, commented:\"The strong growth in our guidance for 2023 maintains our track record of increasing guidance every year since 2018. Our diversified portfolio of producing royalties on high quality mines, with proven operators, provides a strong foundation to our further growth. For 2023 we are projecting an approximate sixty five percent increase on the approximate 5,800 GEOs received in 2022. The increase is attributed to an uplift in GEOs expected from the Bonikro gold mine, along with incremental increases in production from the Karlawinda, Wahgnion, and Mercedes gold mines.\"Significant Asset Updates Elemental Altus announces that it has paid a total of US$300,000 in cash to a private third-party entity to acquire an additional 0.25% NSR royalty on AuTECO's (ASX:AUT) Pickle Crow gold asset in Ontario, increasing the effective NSR royalty held by the Company to 2.25%. Lundin Mining (TSX:LUN) announced on March 27, 2023 that it has entered into a binding purchase agreement to acquire a 51% interest in the Caserones copper mine in Chile. Elemental Altus holds an effective 0.443% NSR royalty interest on Caserones2.Frederick BellCEO and DirectorCorporate & Media Inquiries:Jacy Zerb, VP Investor RelationsDirect: +1 604-243-6511 ext. 2700 [email protected] Elemental Altus is a proud member of Discovery Group. For more information please visit: www.discoverygroup.ca or contact 604-653-9464.TSXV: ELE | OTCQX: ELEMF | ISIN: CA28619K1093 | CUSIP: 28619K109About Elemental Altus Royalties Corp.Elemental Altus is an income generating precious metals royalty company with 10 producing royalties and a diversified portfolio of p...