Altius Reports Q1 2023 Expected Attributable Royalty Revenue(1) of $21.4 million
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
April 19, 2023 | St. John’s, Newfoundland and Labrador
Altius Reports Q1 2023 Expected Attributable Royalty
Revenue(1)
of $21.4 million
Altius Minerals Corp oration (ALS: TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expects to
report Q1 2023 attributable royalty revenue of $21.4 million, detailed as follows:
Royalty Revenue Summary
Summary of attributable royalty revenue
(in thousands of Canadian dollars) Q1 2023 Q4 2022 Q1 2022
Potash 9,032$ 9,816$ 9,903$
Base & battery metals 4,869 4,702 9,960
Iron ore (1) 1,870 2,618 1,437
Thermal (electrical) coal 3,002 3,774 3,113
Renewable energy 1,345 1,171 772
Other 1,275 1,041 307
Attributable royalty revenue 21,393$ 23,122$ 25,492$
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
Potash portfolio revenue during the quarter was $9.0 million, which compare s to $ 9.9 million in the first
quarter of 202 2, reflecting lower average realized prices and similar attributable portfolio production
volumes.
Base and battery metal (primarily copper) revenue of $4.9 million was similar to the prior quarter but
lower than the year ago comparable quarter based mainly upon the scheduled closure of the 777 mine in
Q2 of 2022 and lower revenue from Chapada, which was enhanced by the timing of sales in the
comparable prior year quarterly period.
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
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 dividends related to the operations of Iron Ore Company of
Canada (IOC), was $1.9 million, as compared with Q1 2022 iron ore revenue of $1.4 million. The increase
related to a higher share ownership level while both the current and comparable period quarters were
impacted by increased levels of sustaining and growth capital investments that limited IOC equity
dividends.
Thermal (electrical) coal revenue of $3.0 million during the current quarter compared to $3.1 million during
the first quarter of last year on lower attributable production volumes at the Genesee Mine that were offset
by a higher inflation-linked royalty rate.
Renewable energy proportionate royalty revenue of $1.3 million compares to $772,000 recorded in the
same period last year. This relates to consolidation of the Corporation's 58% interest in Altius Renewable
Royalties Corp., which continues to experience royalty revenue ramp up as additional projects subject to
royalty enter production and as recent operating stage royalty acquisitions are incorporated into its
portfolio.
First Quarter 2023 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 8, 2023 after the close of market with a
conference call to follow on May 9, 2023.
Date: May 9, 2023
Time: 9:30 AM ET
Toll Free Dial-In Number: (+1) 888 396 8049
International Dial-In Number: (+1) 416 764 8646
Conference Call Title and ID: Altius Q1 2023 Results, ID 50613738
Webcast Link: Q1 2023 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
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
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 potent ial 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 47,6 34,571 common shares issued and outstanding that are
listed on Canada’s Toronto Stock Exchange. It is included in each of th e 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