Elemental Altus Provides Update on Its Gold Purchase and Sale Agreement Involving the Ming Mine
Elemental Altus Provides Update on Its Gold
Purchase and Sale Agreement Involving the
Ming Mine
Vancouver, British Columbia--(Newsfile Corp. - February 17, 2023) - Elemental Altus Royalties Corp.
(TSXV: ELE) (OTCQX: ELEMF) ("
Elemental Altus
" or "the
Company
") notes the update regarding the
Ming mine ("
Ming
") issued today by Rambler Metals and Mining plc ("
Rambler
"), announcing Rambler's
decision to pause operations at Ming until February 24, 2023 pending the delivery of key supplies to the
mine. Rambler previously announced an efficiency improvement program in November 2022 alongside
its ongoing discussions with Newgen Resources Lending Inc. with a view to a refinancing or
restructuring.
Elemental Altus has a gold sale and purchase agreement (the "
Gold Stream
") with Rambler in respect
of gold production from Ming. During the course of Rambler's announced strategic financial restructuring
program, the Company delivered on February 9, 2023 a written notice of default to Rambler for non-
delivery of gold under the Gold Stream. Rambler is contracted to make minimum gold deliveries of 1,200
gold ounces to Elemental Altus for the first three years of the Gold Stream and no sale and delivery of
gold has occurred in the last two financial quarters. Rambler has a 10 business day period from notice of
default to cure its default under the Gold Stream.
On behalf of Elemental Altus Royalties Corp.
Frederick Bell
CEO and Director
Corporate & Media Inquiries:
Frederick Bell, CEO
Direct: +44 (0) 7554 872 794
www.elementalaltus.com
Elemental Altus is a proud member of Discovery Group. For more information please visit:
www.discoverygroup.ca
or contact 604-653-9464.
TSXV: ELE | OTCQX: ELEMF | ISIN: CA28619K1093 | CUSIP: 28619K109
About Elemental Altus Royalties Corp.
Elemental Altus is an income generating precious metals royalty company with 11 producing royalties
and a diversified portfolio of pre-production and discovery stage assets. The Company is focused on
acquiring uncapped royalties and streams over producing, or near-producing, mines operated by
established counterparties, as well as generating royalties on new discoveries. The vision of Elemental
Altus is to build a global gold royalty company, offering investors superior exposure to gold with reduced
risk and a strong growth profile.
Notes
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-
V) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary note regarding forward-looking statements
This news release contains certain "forward looking statements" and certain "forward-looking
information" as defined under applicable Canadian securities laws. Forward-looking statements and
information can generally be identified by the use of forward-looking terminology such as "may", "will",
"should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology.
Forward-looking statements and information include, but are not limited to, statements with respect to
the Company's ability to deliver a materially increased revenue profile with a lower cost of capital, the
future growth, development and focus of the Company, and the acquisition of new royalties and streams.
Forward-looking statements and information are based on forecasts of future results, estimates of
amounts not yet determinable and assumptions that, while believed by management to be reasonable,
are inherently subject to significant business, economic and competitive uncertainties and
contingencies.
Forward-looking statements and information are subject to various known and unknown risks and
uncertainties, many of which are beyond the ability of Elemental Altus to control or predict, that may
cause Elemental Altus' actual results, performance or achievements to be materially different from those
expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties
and other factors set out herein, including but not limited to: the impact of general business and
economic conditions, the absence of control over the mining operations from which Elemental Altus will
receive royalties, risks related to international operations, government relations and environmental
regulation, the inherent risks involved in the exploration and development of mineral properties; the
uncertainties involved in interpreting exploration data; the potential for delays in exploration or
development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-
19 pandemic; the possibility that future exploration, development or mining results will not be consistent
with Elemental Altus' expectations; accidents, equipment breakdowns, title matters, labour disputes or
other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs
and expenses; uncertainties relating to the availability and costs of financing needed in the future; the
inherent uncertainty of production and cost estimates and the potential for unexpected costs and
expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including
environmental regulatory restrictions; liability, competition, loss of key employees and other related risks
and uncertainties. For a discussion of important factors which could cause actual results to differ from
forward-looking statements, refer to the annual information form of Elemental Altus for the year ended 31
December 2021. Elemental Altus undertakes no obligation to update forward-looking statements and
information except as required by applicable law. Such forward-looking statements and information
represents management's best judgment based on information currently available. No forward-looking
statement or information can be guaranteed, and actual future results may vary materially. Accordingly,
readers are advised not to place undue reliance on forward-looking statements or information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/155287