Altius Announces Expected Attributable Royalty Revenues for the First Quarter of 2022(1)

ST. JOHN’S, Newfoundland and Labrador–(BUSINESS WIRE)–Altius Minerals Corporation (ALS: TSX) (ATUSF: OTCQX) (“Altius” or the “Company”) expects to report annual attributable royalty income in the first quarter of 2022 of $25.4 million, which compares to $17.8 million of attributable royalty income recorded in the first quarter. quarter of 2021 and represents a new quarterly record for the Company.

Summary of royalty income

Summary of Attributable Royalty Revenue
(in thousands of Canadian dollars)
Q1 2022 Q4 2021 Q1 2021
Base and battery metals

$9,955

$11,329

$7,627

Potash

9,901

6,907

4,072

Iron-ore (1)

1,437

3,305

2,874

Thermal coal (electric)

3,113

1,421

2,984

Renewable energies and others

967

493

203

Attributable royalty income

$25,373

$23,455

$17,760

See the Non-GAAP Financial Measures section of our MD&A for the definition and reconciliation of attributable royalty income.
(1) Dividends received from Labrador Iron Ore Royalty Corporation

Base metals and battery (primarily copper) revenue of $10.0 million for the quarter, compared to $7.6 million reported for the first quarter of 2021, reflecting generally higher realized prices. Higher quarterly comparative sales volumes at Chapada were partially offset by lower sales volumes at 777, which were impacted by labor-related rail availabilities during the quarter.

Potash portfolio revenue in the quarter was $9.9 million, compared to $4.1 million in the comparable quarter of 2021, with the increase largely attributable to significantly higher realized prices and the continued increase in production volumes in the K3 zone of the Esterhazy mine.

Iron ore dividend income from Labrador Iron Ore Royalty Corp., which serves as a transfer vehicle for royalty income and stock dividends related to Iron Ore Company of Canada (IOC) operations, was of $1.4 million, compared with with iron ore revenues in the first quarter of 2021 of $2.9 million. The decrease is related to a lower stock dividend paid by IOC, which is geared towards an increase in the annual sustaining and growing capital budget for the current year.

Thermal coal (electric) revenue of $3.1 million in the current quarter, compared to $2.9 million in the first quarter of last year, reflecting higher production levels at a rate of fee adjusted for inflation slightly higher.

Renewable power and other royalty revenue includes $0.8 million, compared to $0.04 million for the same period last year, related to the Company’s 59% interest in Altius Renewable Royalties Corp. (ARR: TSX).

First Quarter 2022 Financial Results Conference Call and Webcast Details

Additional details regarding individual royalty performance and asset level developments will be provided with the release of the full financial results, which will take place on May 10, 2022 after market close, with a conference call to follow on May 11, 2022. .

Date: May 11, 2022

Weather: 9:00 a.m. ET

Freephone number: +1(877) 476-4353

International call number: +1(647) 427-2311

Conference call title and ID: Altius Q1 2022 results, ID 9473914

Webcast link: First quarter 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 Company and its operating segments and believes that these measures enable investors and analysts to compare the Company’s financial performance with its competitors and/or to assess the results of its underlying activities. These measures are intended to provide supplemental information, not to replace measures in International Financial Reporting Standards (IFRS), and do not have a standard definition under IFRS and should not be considered in isolation or as a substitute. performance measures prepared in accordance with IFRS. . Because these measures do not have any standardized meaning, they may not be comparable to similar measures provided by other companies. Further information about the composition and usefulness of each non-GAAP financial measure, including the reconciliation to their most directly comparable IFRS measures, is included in the Non-GAAP financial measures section of our report. management. which are available on https://www.altiusminerals.com

About Altius

Altius’ strategy is to create growth per share through a diversified portfolio of royalty assets linked to long-lived, high-margin operations. This strategy further provides shareholders with exposures well aligned with global growth trends related to sustainability, including the transition of power generation from fossil fuels to renewables, electrification of transportation, reduction of emissions from steel industry and the increase in agricultural yield requirements. These macro-trends each have the potential to drive increased demand for many of Altius’ commodity exposures, including copper, renewable electricity, several key battery metals (lithium, nickel and cobalt), ore clean iron and potash. In addition, Altius runs a successful project generation business that creates mining projects to sell to developers in exchange for equity and royalties. Altius has 47,855,837 common shares issued and outstanding which are listed on the Toronto Stock Exchange in Canada. It is included in each of the S&P/TSX Small Cap, S&P/TSX Global Mining and S&P/TSX Canadian Dividend Aristocrats indices.

Forward-looking information

This press release contains forward-looking information. The statements are based on management’s reasonable assumptions and expectations and Altius does not guarantee that actual events will meet management’s expectations. In some instances, forward-looking information may be identified by terms such as “plans”, “believes”, “could”, “estimates”, “expects”, “may”, “should”, “will” or “would do”. “. Although Altius believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not placing undue reliance on forward-looking information Altius does not undertake to update any forward-looking information contained herein, except in accordance with securities regulations.

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