Date:
News Release:
Ticker Symbol:
10-Dec-2014 14-14 ALS.TSX
Civic Address:
Altius Minerals Corporation
Suite 202, 66 Kenmount Road St. John’s, NL, A1B 3V7, CANADA
Website: www.altiusminerals.com
Toll Free: 1.877.576.2209
Fax: 709.576.3441 e-mail: [email protected]
Mailing Address:
Altius Minerals Corporation
P.O. Box 8263 Stn “A”
St. John’s, NL, A1B 3N4, CANADA
ALTIUS MINERALS CORPORATION (TSX:ALS) REPORTS SECOND QUARTER ATTRIBUTABLE REVENUE OF $7,027,000 AND NET LOSS OF $25,348,000 Prairie Royalties revenues to date in line with expectation
St. John’s - Altius Minerals Corporation (“Altius” or the “Corporation”) reports attributable revenue(1) of $7,027,000 and net loss attributable to common shareholders of $25,348,000 or ($0.78) per share for the three months ended October 31, 2014 compared to attributable revenue(1) of $1,338,000 and a net loss of $731,000 for the same period last year. The current period results were affected by royalty revenues from Prairie Royalties and Voisey’s Bay of $5,900 ,000 and $683,000 respectively, while various unrealized investment losses and adjustments to carrying value s of $29,543,000 were incurred, primarily related to the Corporation’s investment in Alderon Iron Ore Corp.
A summary of the financial results is included in the following table.
2014 2013 2014 2013
$ $ $ $ Royalty revenue Coal 4,558,000 - 9,516,000 - Potash 1,344,000 - 2,418,000 -
Voisey's Bay 683,000 706,000 1,262,000 1,409,000
CDP 355,000 - 859,000 -
Interest and investment 68,000 608,000 149,000 853,000
Other 19,000 24,000 40,000 35,000
Attributable revenue 7,027,000 1,338,000 14,244,000 2,297,000
Net loss attributable to
common shareholders (25,348,000) (731,000) (33,449,000) (2,023,000)
Net loss per share - basic
and diluted (0.78) (0.03) (1.05) (0.07)
Net cash flow from
operations (4,557,000) (154,000) (15,511,000) (1,350,000)
(1 ) See no n-IFRS meas ures fo r reco nciliatio n o f attributable revenue Three months ended October 31, Six months ended October 31,
Additional information on the Corporation’s results of operations is included in the Corporation’s Annual Information Form, MD&A, and Financial Statements, which were filed on SEDAR today and are also available on the Co rporation’s website at www.altiusminerals.com.
Non-IFRS Measures
Attributable royalty is intended to provide additional information only and do not have any standardized meaning prescribed u nder IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS . Other companies may calculate these measures differently. For a reconciliation of these measures to various IFRS measures, please see below.
- (1) Attributable revenue is defined by the Corporation as total revenue from the consolidated financial statements and the Corporation’s proportionate share of gross revenue in the joint ventures. The Corporation’s key decision makers use attributable royalty revenue and related a ttributable royalty expenses
Date:
News Release:
Ticker Symbol:
10-Dec-2014 14-14 ALS.TSX
Civic Address:
Altius Minerals Corporation
Suite 202, 66 Kenmount Road St. John’s, NL, A1B 3V7, CANADA
Website: www.altiusminerals.com
Toll Free: 1.877.576.2209
Fax: 709.576.3441 e-mail: [email protected]
Mailing Address:
Altius Minerals Corporation
P.O. Box 8263 Stn “A”
St. John’s, NL, A1B 3N4, CANADA
as a basis to evaluate the business performance. The attributable royalty revenue amounts, together with as amortization of royalty interests, general and administrative costs and mining tax, are not reported gross in the consolidated statement of earnings (loss) since the royalt y revenues are being generated in a joint venture and IFRS 11 Joint Arrangements requires net reporting as an equity pick up. The reconciliation to IFRS reports the elimination of the attributable revenues and reconciles to the revenues recognized in the consolidated statements of earnings (loss).
Reconciliations to IFRS measures
Attributable revenue
2014 2013 2014 2013
$ $ $ $ Royalty revenue Coal 4,558,000 - 9,516,000 - Potash 1,344,000 - 2,418,000 -
Voisey's Bay 683,000 706,000 1,262,000 1,409,000
CDP 355,000 - 859,000 -
Interest and investment 68,000 608,000 149,000 853,000
Other 19,000 24,000 40,000 35,000
Attributable revenue 7,027,000 1,338,000 14,244,000 2,297,000
Adjust joint venture revenue (6,585,000) (706,000) (13,196,000) (1,409,000)
IFRS financial statement revenue 442,000 632,000 1,048,000 888,000
Three months ended October
31, Six months ended October 31,
About Altius
Altius is diversified minerals royalty company with royalty interests in 12 producing mines located in Canada . The royalty interests include mining operations that produce thermal (electrical) and metallurgical coal, potash, nickel, copper and cobalt.
Altius holds other significant pre -development stage royalty interests that include a 3% gross sales royalty on the development stage Kami iron ore project of Alderon Iron Ore Corp. (“Alderon”), a 2% gross sales royalty for the advanced exploration stage Central Mineral Belt uranium project of Paladin Energy Limited, and several other resource stage project royalties. Its project generation pipelin e contains a diversified portfolio of exploration stage projects and royalties, many of which are being advanced through various partner-funding arrangements.
Altius has also built a portfolio of directly and indirectly held junior re source investments, including a ~25% shareholding in Alderon (ADV:TSX), an ~ 8% sha reholding in Virginia Mines Inc. (VGQ:TSX), and a ~5.9% shareholding in Callinan Royalties Corporation (CAA:TSXV).
Altius has 32,356,826 shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
Date:
News Release:
Ticker Symbol:
10-Dec-2014 14-14 ALS.TSX
Civic Address:
Altius Minerals Corporation
Suite 202, 66 Kenmount Road St. John’s, NL, A1B 3V7, CANADA
Website: www.altiusminerals.com
Toll Free: 1.877.576.2209
Fax: 709.576.3441 e-mail: [email protected]
Mailing Address:
Altius Minerals Corporation
P.O. Box 8263 Stn “A”
St. John’s, NL, A1B 3N4, CANADA
For further information, please contact Ben Lewis or Chad Wells at 1.877.576.2209.