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Altius Minerals Corp (ATUSF) is a Canadian mining royalty company engaged in the acquisition and management of mineral resource assets. The company's core business involves generating royalties from mines across various commodities, including copper, nickel, and iron ore. Altius Minerals Corp has a diversified portfolio of royalty interests in mining projects globally, providing investors with exposure to the mining sector without the risks associated with direct ownership of mines. Recently, Altius Minerals Corp has reported strong financial performance, driven by robust commodity prices and successful royalty acquisitions. The company continues to focus on expanding its royalty portfolio through strategic partnerships and acquisitions, positioning itself for sustainable growth in the mining sector.
Altius Minerals (TSX: ALS; OTCQX: ATUSF) announced the successful approval of all resolutions at its Annual General Meeting held on May 17, 2024. Key approvals included the election of directors and the appointment of Deloitte LLP as auditors for the ensuing year. Shareholder participation was strong at 69.6%. Directors elected with over 93% votes in favor included Nicole Adshead-Bell, Teresa Conway, John Baker, Brian Dalton, Anna El Erian, André Gaumond, Roger Lace, Fred Mifflin, and Jamie Strauss. The 'Say on Pay' resolution was also passed with 98.96% approval.
Altius Minerals reported Q1 2024 revenue of $13.9 million, with attributable royalty revenue of $17.4 million. The decline in revenue is attributed to the closure of the Genesee Mine and moderation of potash prices. Renewable energy revenue grew 148% year over year. The most significant highlights were the Kami and Silicon royalties. Annual dividend increased to $0.36 per share. Adventus Mining announced an all-share transaction with Silvercorp Metals Inc. Altius received cash for its NSR royalty on the El Domo Curipamba project. AGA advanced its Silicon Project, with a significant gold discovery. Champion Iron announced positive results for the Kami project. Lundin Mining delineated the Saúva copper-gold deposit. ARR continues to accelerate revenue. Adjusted EBITDA for Q1 2024 was $12.4 million. Cash and cash equivalents were $101.5 million at the end of March 2024.
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