Altius Provides 2nd Quarter 2024 Project Generation Update
Altius Minerals (ATUSF) has provided an update on its Project Generation business activities and public junior equities portfolio for Q2 2024. The market value of equities in the portfolio increased to $55.8 million from $45.4 million in Q1 2024. The company generated $7.6 million in cash proceeds from portfolio sales and invested $2.9 million through warrant exercises, leading to net proceeds of $11.4 million in 2024. Key portfolio updates include:
1. Orogen Royalties Inc. reported positive cashflows and advancements at the Expanded Silicon gold project.
2. Adventus Mining Corp. announced a definitive arrangement agreement with Silvercorp Metals Inc. Altius received C$9.6 million from Adventus.
3. Canterra Minerals Corp. advanced its base metal and gold projects in Newfoundland.
4. Sterling Metals Inc. exercised its option to acquire 100% of the Adeline Copper-Silver Project.
5. Gungnir Resources Inc. provided an update on its exploration activities in Sweden.
6. Strikepoint Gold Inc. reported positive drilling results from the Cuprite gold project.
- Market value of equities increased from $45.4 million to $55.8 million.
- Generated $7.6 million in cash proceeds from portfolio sales.
- Invested $2.9 million through warrant exercises.
- Net proceeds of $11.4 million in 2024.
- Orogen Royalties reported positive cashflows and project advancements.
- Altius received C$9.6 million from Adventus Mining.
- Legal challenge to environmental approval for Adventus Mining's Curipamba project could affect its arrangement with Silvercorp Metals.
ST. JOHN’S,
The market value of equities in the portfolio at June 30, 2024 was
An updated list of the public equity holdings has been posted to the Altius website at https://www.altiusminerals.com/investor-information/junior-equities-portfolio/.
Portfolio Updates
Recently reported updates from certain portfolio companies included the following:
Orogen Royalties Inc. (TSX:OGN) (“Orogen”) reported positive cashflows from operations for its three-month period ended March 31, 2024 as well as announced significant advancements at the Expanded Silicon gold project located in
Since its initiation in late 2022, Altius’s strategic exploration alliance in
Adventus Mining Corp. (TSX-V:ADZN) (“Adventus”) announced in late April a definitive arrangement agreement with Silvercorp Metals Inc. ("Silvercorp") (TSX: SVM) (NYSE American: SVM) pursuant to which Silvercorp agreed to acquire all of the issued and outstanding common shares of Adventus at an effective price of
On June 26th, Adventus shareholders, including Altius, approved the Arrangement with Silvercorp and it was subsequently court approved on July 2nd. On July 5, 2024, Adventus advised that Silvercorp has taken the position that a recent legal challenge to one of the Ecuadorian government’s environmental approvals for the Curipamba project represented an unmet condition to closing. Adventus disagrees with this position and contends that all requirements for closing have been met under the arrangement and that Silvercorp is required to close the transaction by July 31. Altius holds a
Canterra Minerals Corp. (TSX-V:CTM) (“Canterra”) has been highly active in 2024 announcing advancement of its portfolio of base metal and gold projects in
Sterling Metals Inc. (TSX-V:SAG) (“Sterling”) recently announced exercise of its option to acquire
Gungnir Resources Inc. (TSX-V:GUG) (“Gugnir”) provided an update on its current exploration activities in northern
Strikepoint Gold Inc. (TSX-V:SKP) (“Strikepoint”) reported encouraging exploration drilling results from its Cuprite gold project in
Qualified Person
Lawrence Winter, Ph.D., P.Geo., Vice President, Exploration for Altius, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed, prepared and approved this release.
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 a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240709197065/en/
For further information, please contact:
Chad Wells
Email: Cwells@altiusminerals.com
Tel: 1.877.576.2209
Flora Wood
Email: Fwood@altiusminerals.com
Tel: 1.877.576.2209
Direct: 1.416.346.9020
Source: Altius Minerals Corporation
FAQ
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