Altius Reports Q4 2024 and Full Year 2024 Expected Attributable Royalty Revenue(1)
Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF
January 28, 2025 | St. John’s, Newfoundland
Altius Reports Q4 2024 and Full Year 2024 Expected
Attributable Royalty Revenue(1)
All references in thousands of Canadian dollars, except per share amounts, unless otherwise indicated
Altius Minerals Corporation (ALS: TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expects to
report Q4 2024 attributable royalty revenue (1) of $13.6 million and annual attributable royalty revenue of
$65.7 million.
Royalty Revenue Summary
Summary of attributable royalty revenue(1) 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2024 2023
Base & battery metals $ 19,422 $ 3,167 $ 5,437 $ 5,474 $ 5,344 18,354
Potash 18,376 4,907 3,585 4,755 5,129 24,005
Iron ore# 11,220 2,805 2,618 4,114 1,683 9,536
Renewable energy## 6,939 1,786 2,000 1,218 1,935 4,137
Thermal (electrical) coal – – – – – 8,853
Interest and other 9,705 935 1,509 5,319 1,942 5,993
$ 65,662 $ 13,600 $ 15,149 $ 20,880 $ 16,033 $ 70,878
(#) Labrador Iron Ore Royalty Corporation dividends received
(##) Effective 29% interest in renewable royalty revenue
Base and battery metals (primarily copper) revenue of $19.4 million for the year reflects higher realized
prices offsetting slightly lower volumes . The fourth quarter was impacted by lower than normal copper
stream deliveries due to timing of sales relative to production from Chapada, however the Corporation
received higher than average deliveries in January 2025.
The Corporation's preliminary cost of sales for the year related to the Chapada copper strea m, excluding
any depletion, is $5.5 million.
Potash portfolio revenue during the year was $18.4 million on lower prices, offset by higher attributable
production. During the fourth quarter the Corporation received positive adjustments of $981,000, which
relate to a new unitized area at one of the Nutrien mines.
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 $11.2 million for the year as a result of higher IOC dividends.
Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF
Renewable energy royalty revenue of $6.9 million reflects the continuing ramp up of operational stage
portfolio projects and includes $1.2 million of investment income.
On December 5, 2024 Altius Renewable Royalties Corp. ("ARR") announced the completion of a statutory
plan of arrangement pursuant to which Royal Aggregator LP, an affiliate of Northampton Capital Partners
LLC (“Northampton”), acquired, for $12.00 per share, all of the issued and outstanding common shares of
ARR with the exception of 17,937,339 common shares or 57% owned by the Corporation. The Corporation
has reported renewable royalty revenue (a non-GAAP measure) to reflect its effective 29% interest of Great
Bay Renewables, held through ARR.
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.
Fourth Quarter and Year End 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 annual financial results, which will occur on March 11, 2025 after the close of market,
with a conference call to follow on March 12, 2025.
Date: March 12, 2025
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 Q4 2024 Financial Results, ID 16181
Webcast Link: Q4 and Year End 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 46,290,608 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 Global Mining,
and the S&P/TSX Canadian Dividend Aristocrats indices.
Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF
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 regulations.
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