Altius Reports Q1 2022 Expected Attributable Royalty Revenue(1)
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
April 19, 2022 | St. John’s, Newfoundland and Labrador
Altius Reports Q1 2022 Expected Attributable Royalty
Revenue(1)
Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expects to report
Q1 2022 annual attributable royalty revenue of $25.4 million, which compares to $17.8 million of attributable
royalty revenue recorded in Q1 2021 and represents a new quarterly record for the Corporation.
Royalty Revenue Summary
Summary of attributable royalty revenue
(in thousands of Canadian dollars) Q1 2022 Q4 2021 Q1 2021
Base & battery metals 9,955$ 11,329$ 7,627$
Potash 9,901 6,907 4,072
Iron ore (1) 1,437 3,305 2,874
Thermal (electrical) coal 3,113 1,421 2,984
Renewable energy and other 967 493 203
Attributable royalty revenue 25,373$ 23,455$ 17,760$
See non- GAAP financial measures section of our MD&A for definition and reconciliation of attributable royalty revenue
(1) Labrador Iron Ore Royalty Corporation dividends received
Base and battery metal (primarily copper) revenue of $10.0 million for the quarter compares to $7.6 million
reported for the first quarter of 202 1, reflecting generally higher realized prices. Higher quarterly
comparative sales volumes at Chapada were partially offset by lower sales volumes at 777, which were
impacted by labour related rail availabilities during the quarter.
Potash portfolio revenue during the quarter was $9.9 million, which compares to $4.1 million in the
comparable quarter of 2021, with the increase driven largely by significantly higher realized pricing and the
continuing ramp up of production volumes from the K3 area of the Esterhazy mine.
Iron ore revenue in the form of dividends from Labrador Iron Ore Royalty Corp., which serves as a pass -
through vehicle for royalty income and equity divi dends related to the operations of Iron Ore Company of
Canada (IOC), was $1.4 million, as compared with Q1 2021 iron ore revenue of $2.9 million. The decrease
related to a lower equity dividend paid by IOC as it guided towards an increased annual sustainin g and
growth capital budget for the current year.
Thermal (electrical) coal revenue of $3.1 million during the current quarter compared to $2.9 million during
the first quarter of last year reflect ing higher production levels at a slightly higher inflation adjusted royalty
rate.
Renewable energy and other royalty revenue included $0.8 million compared to $0.04 million in the same
period last year related to the Corporation’s 59% interest in Altius Renewable Royalties Corp.(ARR:TSX).
First Quarter 2022 Financial Results Conference Call and Webcast Details
Additional details relating to individual royalty performances and asset level developments will be provided
with the release of full financial results, which will occur on May 10, 2022 after the close of market, with a
conference call to follow on May 11, 2022.
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
Date: May 11, 2022
Time: 9:00 AM ET
Toll Free Dial-In Number: +1(877) 476-4353
International Dial-In Number: +1(647) 427-2311
Conference Call Title and ID: Altius Q1 2022 Results, ID 9473914
Webcast Link: Q1 2022 Financial Results
Non‐GAAP financial measures
1. Attributable royalty revenue is a non‐GAAP financial measure. Management uses non-GAAP financial
measures to monitor the financial performance of the Corporation and its operating segments and believes
these measures enable investors and analysts to compare the Corporation’s financial performance with its
competitors and/or evaluate the results of its underlying business. These measures are intended to provide
additional information, not to replace International Financial Reporting Standards (IFRS) measures, and do
not have a standard definition under IFRS and should not be considered in isolation or as a substitute for
measures of performance prepared in accordance with IFRS. As these measures do not have a
standardized meaning, they may not be comparable to similar measures provided by other companies.
Further information on the composition and usefulness of each non-GAAP financial measure, including
reconciliation to their most directly comparable IFRS measures, is included in the non-GAAP financial
measures section of our MD&A. which are available at https://www.altiusminerals.com
About Altius
Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high
margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-
related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation
electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends
each hold the poten tial to cause increased demand for many of Altius’s commodity exposures including copper,
renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In
addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in
exchange for equity positions and royalties. Altius has 47,855,837 common shares issued and outstanding that are
listed on Canada’s Toronto Stock Exchange. It is included in each of t he S&P/TSX Small Cap, the S&P/TSX Global
Mining, and the S&P/TSX Canadian Dividend Aristocrats indices.
Forward-Looking Information
This news release contains forward ‐looking information. The statements are based on reasonable assumptions and
expectations of management and Altius provides no assurance that actual events will meet management's
expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes",
"could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius believes the expectations expressed in
such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those projected. Readers should not place
undue reliance on forward -looking information. Altius does not undertake to update any forward -looking information
contained herein except in accordance with securities regulation.
For further information, please contact:
Flora Wood
Email: [email protected]
Tel: 1.877.576.2209
Direct: +1(416)346.9020
Ben Lewis
Email: [email protected]
Tel: 1.877.576.2209