Altius Reports Q3 2022 Expected Attributable Royalty Revenue(1) of $26.4 million
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
October 18, 2022 | St. John’s, Newfoundland and Labrador
Altius Reports Q3 2022 Expected Attributable Royalty
Revenue(1)
of $26.4 million
Altius Minerals Corp oration (ALS: TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expects to
report Q3 2022 annual attributable royalty revenue of $26.4 million, which compares to $ 20.8 million of
attributable royalty revenue recorded in Q 3 2021. On a nine -month basis, attributable royalty revenue of
$80.5 million in 2022 compares to $60.5 million during the comparable period in 2021.
Royalty Revenue Summary
Summary of attributable royalty revenue
(in thousands of Canadian dollars) Q3 2022 Q2 2022 Q3 2021
Potash 10,276$ 11,450$ 3,788$
Base & battery metals 5,779 8,315 8,216
Iron ore (1) 3,740 2,871 6,035
Thermal (electrical) coal 3,768 4,520 2,562
Renew able energy and other 2,859 1,466 207
Attributable royalty revenue 26,422$ 28,622$ 20,808$
See non-GAAP financial measures section of our M D&A for definition and reconciliation of attributable royalty revenue
(1)
Labrador Iron Ore Royalty Corporation dividends received
Potash portfolio revenue during the quarter was $ 10.3 million, which compare s to $ 3.8 million in the
comparable quarter of 2021, reflecting significantly higher average realized prices. On a year-to-date basis,
potash revenue of $31.6 million exceeds the $12.4 million in revenue reported for the comparable period in
2021 due to higher attributable production volumes and significantly higher average realized pricing .
Base and battery metal (primarily copper) revenue of $5.8 million for the quarter compares to $8.2 million
reported for the third quarter of 202 1 due primarily to the scheduled closure of the 777 mine and lower
realized prices but partially offset by higher Chapada production volumes. Year to date revenue of $24.1
million compares to $25.2 million for the same period in 2021.
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
Iron ore revenue in the form of dividends from Labrador Iron Ore Royalty Corp. (LIORC) was $3.7 million
compared to $ 6.0 million in Q 3 2021 due to higher sustaining and growth capital spending and lower
declared dividends by the Iron Ore Company of Canada (IOC). Year to date revenue of $8.0 million
compares to $13.9 million over the same period last year. The Corporation added an additional 550,000
shares to its LIORC position during the quarter. LIORC serves as a pass-through vehicle for IOC production-
based royalty revenues and equity dividends.
Thermal (electrical) coal revenue of $3.8 million during the current quarter compared to $2.6 million during
the third quarter of last year on slightly higher attributable royalty volumes as well as a high er inflation-
based royalty rate , as described in the Q2 2022 MD&A . Nine month revenue in 2022 of $11.4 million
compares to $7.6 million in 2021 mainly due to increased power plant utilization at Genesee.
Renewable energy and other royalty revenue included approximately $ 2.0 million related to the
Corporation’s 59% interest in Altius Renewable Royalties Corp. (ARR: TSX), compared to $0.02 million in
the same quarter last year. The difference relates to the addition of new operating stage royalty projects as
well as stronger merchant power prices in the current year.
Third 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 November 9, 2022 after the close of market with
a conference call to follow on November 10, 2022.
Date: November 10, 2022
Time: 9:00 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 Q3 2022 Results, ID 41077130
Webcast Link: Q3 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 per formance 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 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 47,616,297 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