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Elemental Altus Royalties Announces Record Year to Date Revenue
Vancouver, British Columbia--(Newsfile Corp. - November 23, 2023) -  Elemental Altus Royalti...
About this update from Elemental Royalty Corporation
[{"type":"text","content":"Elemental Altus Royalties Announces Record Year to Date RevenueVancouver, British Columbia--(Newsfile Corp. - November 23, 2023) -  Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) (\"Elemental Altus\" or \"the Company\") announces its operating and financial results for the quarter ended September 30, 2023. For complete details please refer to the Financial Statements and associated Management Discussion and Analysis (\"MD&A\") for the three and nine months ended September 30, 2023, which can be found on the SEDAR+ website (www.sedarplus.ca) or the Company's website (www.elementalaltus.com).Frederick Bell, CEO of Elemental Altus, commented:\"The third quarter of 2023 has seen the announcement of three new royalty acquisitions alongside the creation of nine gold royalties through the sale of our in-house generated projects in Egypt, Mali and Ethiopia. The Cactus copper royalty acquisition in the USA adds a high-quality long-life asset to the portfolio that fits well into our development portfolio, while the increase to the Caserones copper royalty in Chile is in line with our strategy to maintain our exposure to high-quality producing assets. The announced transactions on the royalty generation front give us substantial upside through a combination of cash payments and continuing equity exposure with our partners Allied Gold, In2Metals and ANS Exploration.In terms of continued revenue growth, we expect our Bonikro gold royalty in Côte d'Ivoire to materially ramp up in the coming quarters and represent the majority of production for the mine in the coming years. The Diba gold royalty is expected to be fast-tracked into production at the adjacent Sadiola mine in H1 2024 by Allied Gold and likewise represent a material new source of royalty revenue. The combination of increasing royalty revenue in 2024 alongside reduced G&A and generative expenditure should put the Company in a very strong position to continue to take advantage of accretive royalty acquisition opportunities going forward.\"Year to September 30, 2023 Highlights:Record Revenue of US$7.8 million (increase of 10% vs 2022) and Adjusted Revenue of US$12.2 million (increase of 58% vs 2022), inclusive of Caserones royalty revenueRecord Gold Equivalent Ounces (\"GEOs\") of 6,187oz (increase of 47% vs 2022)Record Adjusted EBITDA of US$7.8 million ...