Altius Reports Q2 2024 Expected Attributable Royalty Revenue(1)
Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF
July 18, 2024 St. John’s, Newfoundland
Altius Reports Q2 2024 Expected Attributable Royalty
Revenue(1)
All references in thousands of Canadian dollars, except per share amounts, unless otherwise indicated
Altius Minerals Corporation ( TSX: ALS) ( OTCQX: ATUSF) (“Altius” or the “Corporation”) expects to
report Q2 2024 attributable royalty revenue(1) of $21.8 million.
Royalty Revenue Summary
Summary of attributable royalty revenue(1) Q2 2024 Q1 2024 Q2 2023
Base & battery metals $ 5,474 $ 5,344 $ 4,834
Potash 4,756 5,129 6,081
Iron ore# 4,114 1,683 2,431
Renewable energy 2,102 3,337 1,310
Thermal (electrical) coal – – 2,626
Interest and other 5,317 1,942 1,416
$ 21,763 $ 17,435 $ 18,698
(#) Labrador Iron Ore Royalty Corporation dividends received
Base and battery metals (primarily copper) revenue of $5.5 million for the quarter reflects higher realized
prices as well as higher copper stream deliveries from Chapada.
The Corporation's preliminary cost of sales related to the Chapada copper stream, excluding any depletion
for the quarter, is $1.6 million.
Potash portfolio revenue during the second quarter was $ 4.8 million on slightly lower production volumes
and prices.
Iron ore royalty 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, was $4.1 million, resulting from a higher IOC dividend.
Renewable energy royalty revenue at Altius Renewable Royalties Corp. ("ARR") of $2.1 million reflects
the continuing ramp up of operational stage portfolio projects and includes $0.7 million of investment income
generated in its joint venture. The Corporation owns 58% of ARR.
Interest and other revenues includes $3.7 million in investment income related to the settlement of a loan
receivable with Adventus Mining Corp.
Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF
Non GAAP Financial Measures
1. Management uses the following non -GAAP financial measures: attributable revenue, attributable royalty revenue,
adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA), adjusted operating cash
flow and adjusted net earnings (loss). Management uses these 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.
Second Quarter 2024 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 our interim financial results, which will occur on August 08, 2024 after the close of market
with a conference call to follow on August 09, 2024.
Date: August 09, 2024
Time: 9:00 AM ET
Toll Free Dial-In Number: +1-800-717-1738
International Dial-In Number: +1-289-514-5100
Conference Call Title and ID: Altius Minerals Q2 2024 Financial Results, ID 48323
Webcast Link: Q2 2024 Financial Results
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 potential 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 46,467,476 common shares issued and outstanding that are listed on Canada’s
Toronto Stock Exchange. It is included in each of the S&P/TSX Small Cap, the S&P/TSX Gl obal 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 reasonab le
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 regulations.
For further information, please contact:
Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF
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