Altius Minerals Corporation (ALS) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the Altius Minerals Q2 2025 conference call and webcast. At this time, all lines are in the listen-only mode. Following the presentation, we will conduct a question and answer session. And if at any time during this call you require immediate assistance, please press star zero for the operator. Also note that this call is being recorded on Tuesday, August 12, 2025. I would now like to turn the conference over to Flora Wood. Please go ahead. Thank you, Sylvie. Good morning, everyone, and welcome to our Q2 conference call. Our press release and quarterly filings came out yesterday after the close and are available on our website. This event is being webcast live, and you'll be able to access a replay of the call along with the presentation slides that have been added to our website at altsminrose.com. Brian Dalton, CEO, and Ben Lewis, CFO, are both speakers on the call. The forward-looking statement on slide two applies to everything we say both in our formal remarks and during the Q&A session. And with that, Ben is up first to take us through the numbers. Thank you, Flora, and good morning, everyone. Royalty revenue for Q2 2025 is $12.7 million compared to $20.4 million in Q2 2024. Adjusted EBITDA for the three months end of June 30th, 2025 is 7.5 million compared to 14.5 million in the prior year quarter. In the current quarter, the decrease in both revenue and adjusted EBITDA reflect lower attributable potash volumes and lower dividends from iron ore, partially offset by higher base metal prices. Potash attributable royalty volumes have now have been low relative to nutrient and mosaic recorded volumes, partially from the split between units at Rokenville, and from maintenance turnarounds that occurred during the fi...