Elemental Altus Forecasts 50% Adjusted Revenue Growth in 2025 and Appoints Sandeep Singh as Director
Elemental Altus Royalties (TSXV: ELE, OTCQX: ELEMF) projects a 50% increase in adjusted revenue to US$32 million for 2025, following record preliminary annual revenue of US$16.3 million and adjusted revenue of US$21.6 million in 2024. The company expects to deliver 11,600-13,200 Gold Equivalent Ounces (GEOs) in 2025.
The 2024 results marked a 21% increase from 2023, achieving seven consecutive years of record revenue. The company anticipates up to US$15 million in additional payments from royalty milestones and previous agreements in 2025, with over US$10 million expected in the first half.
Additionally, Sandeep Singh, former CEO of Osisko Gold Royalties, has been appointed to the board as an independent non-executive director, replacing Robert Milroy. The company is now debt-free after repaying US$30 million over the past twelve months and has access to an enhanced US$50 million credit facility.
Elemental Altus Royalties (TSXV: ELE, OTCQX: ELEMF) prevede un aumento del 50% del fatturato rettificato a 32 milioni di dollari per il 2025, dopo aver registrato un fatturato annuale preliminare record di 16,3 milioni di dollari e un fatturato rettificato di 21,6 milioni di dollari nel 2024. L'azienda si aspetta di consegnare tra 11.600 e 13.200 Once Equivalenti d'Oro (GEO) nel 2025.
I risultati del 2024 hanno segnato un aumento del 21% rispetto al 2023, raggiungendo sette anni consecutivi di fatturato record. L'azienda prevede fino a 15 milioni di dollari in pagamenti aggiuntivi da traguardi di royalty e accordi precedenti nel 2025, con oltre 10 milioni di dollari attesi nella prima metà dell'anno.
Inoltre, Sandeep Singh, ex CEO di Osisko Gold Royalties, è stato nominato nel consiglio come direttore indipendente non esecutivo, sostituendo Robert Milroy. L'azienda è ora senza debiti dopo aver rimborsato 30 milioni di dollari negli ultimi dodici mesi e ha accesso a una linea di credito migliorata di 50 milioni di dollari.
Elemental Altus Royalties (TSXV: ELE, OTCQX: ELEMF) proyecta un aumento del 50% en los ingresos ajustados a 32 millones de dólares para 2025, tras haber alcanzado unos ingresos anuales preliminares récord de 16,3 millones de dólares y unos ingresos ajustados de 21,6 millones de dólares en 2024. La empresa espera entregar entre 11,600 y 13,200 Onzas Equivalentes de Oro (GEO) en 2025.
Los resultados de 2024 marcaron un aumento del 21% en comparación con 2023, logrando siete años consecutivos de ingresos récord. La empresa anticipa hasta 15 millones de dólares en pagos adicionales de hitos de regalías y acuerdos anteriores en 2025, con más de 10 millones de dólares esperados en la primera mitad del año.
Además, Sandeep Singh, ex CEO de Osisko Gold Royalties, ha sido nombrado en la junta como director no ejecutivo independiente, reemplazando a Robert Milroy. La empresa ahora no tiene deudas después de haber pagado 30 millones de dólares en los últimos doce meses y tiene acceso a una línea de crédito mejorada de 50 millones de dólares.
Elemental Altus Royalties (TSXV: ELE, OTCQX: ELEMF)는 2025년 조정된 수익이 3천2백만 달러로 50% 증가할 것이라고 예상하고 있으며, 이는 2024년 1천6백3십만 달러의 연간 예비 수익과 2천1백6십만 달러의 조정된 수익을 기록한 것에 따른 것입니다. 회사는 2025년에 11,600-13,200 금환산 온스(GEO)를 제공할 것으로 예상하고 있습니다.
2024년 결과는 2023년 대비 21% 증가하여, 7년 연속으로 기록적인 수익을 달성했습니다. 회사는 2025년에 로열티 이정표 및 이전 계약으로부터 최대 1천5백만 달러의 추가 지급을 예상하고 있으며, 상반기에는 1천만 달러 이상이 예상됩니다.
또한, Sandeep Singh가 Osisko Gold Royalties의 전 CEO로서 이사회에 독립 비상임 이사로 임명되어 Robert Milroy를 대체했습니다. 회사는 지난 12개월 동안 3천만 달러를 상환한 후 이제 부채가 없으며, 5천만 달러의 신용 한도에 접근할 수 있습니다.
Elemental Altus Royalties (TSXV: ELE, OTCQX: ELEMF) prévoit une augmentation de 50% des revenus ajustés à 32 millions de dollars pour 2025, après avoir enregistré un revenu annuel préliminaire record de 16,3 millions de dollars et un revenu ajusté de 21,6 millions de dollars en 2024. L'entreprise s'attend à livrer entre 11 600 et 13 200 Onces Équivalentes d'Or (GEO) en 2025.
Les résultats de 2024 ont marqué une augmentation de 21% par rapport à 2023, atteignant sept années consécutives de revenus records. L'entreprise anticipe jusqu'à 15 millions de dollars de paiements supplémentaires provenant de jalons de redevances et d'accords précédents en 2025, avec plus de 10 millions de dollars attendus dans la première moitié de l'année.
De plus, Sandeep Singh, ancien PDG d'Osisko Gold Royalties, a été nommé au conseil d'administration en tant que directeur indépendant non exécutif, remplaçant Robert Milroy. L'entreprise est désormais sans dette après avoir remboursé 30 millions de dollars au cours des douze derniers mois et a accès à une facilité de crédit améliorée de 50 millions de dollars.
Elemental Altus Royalties (TSXV: ELE, OTCQX: ELEMF) prognostiziert eine 50%ige Steigerung des bereinigten Umsatzes auf 32 Millionen US-Dollar für 2025, nachdem im Jahr 2024 ein Rekordvorläufigsumsatz von 16,3 Millionen US-Dollar und ein bereinigter Umsatz von 21,6 Millionen US-Dollar erzielt wurde. Das Unternehmen erwartet, 11.600 bis 13.200 Goldäquivalent-Unzen (GEOs) im Jahr 2025 zu liefern.
Die Ergebnisse von 2024 stellten einen 21%igen Anstieg im Vergleich zu 2023 dar und erreichten damit sieben aufeinanderfolgende Jahre mit Rekordumsätzen. Das Unternehmen rechnet mit bis zu 15 Millionen US-Dollar an zusätzlichen Zahlungen aus Meilensteinen der Lizenzgebühren und früheren Vereinbarungen im Jahr 2025, wobei im ersten Halbjahr über 10 Millionen US-Dollar erwartet werden.
Zusätzlich wurde Sandeep Singh, ehemaliger CEO von Osisko Gold Royalties, als unabhängiger nicht-executive Director in den Vorstand berufen und ersetzt Robert Milroy. Das Unternehmen ist nun schuldenfrei, nachdem es in den letzten zwölf Monaten 30 Millionen US-Dollar zurückgezahlt hat, und hat Zugang zu einer erweiterten Kreditlinie von 50 Millionen US-Dollar.
- 50% projected revenue growth for 2025
- Record 2024 adjusted revenue of US$21.6M (+21% YoY)
- Seven consecutive years of revenue growth
- Debt-free status with US$50M credit facility available
- Expected US$15M additional payments from royalties in 2025
- 2024 GEO sales at low end of guidance
- Delayed copper concentrate shipments from Caserones to Q1 2025
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2025) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or the "Company") forecasts record Gold Equivalent Ounces ("GEO") and adjusted revenue for 2025, with an expected
Adjusted revenue guidance for 2025 does not include up to US
In addition, the Company announces the appointment of Sandeep Singh to the board as an independent non-executive director.
Preliminary 2024 Results
- Record preliminary adjusted 2024 revenue of US
$21.6 million (+21% vs 2023) comprised of:- US
$16.3 million attributable royalty revenue; and - US
$5.3 million attributable revenue1 from the Caserones copper mine
- US
- Record preliminary adjusted Q4 revenue of US
$6.8 million (+21% vs Q4 2023) comprised of:- US
$5.5 million attributable royalty revenue; and - US
$1.3 million attributable revenue1 from the Caserones copper mine
- US
- Preliminary adjusted 2024 revenue is based on sales volume of approximately 8,990 attributable GEOs, at the low end of the Company's updated guidance due to outperformance of the gold price relative to copper and delayed copper concentrate shipments from Caserones that are expected to be reflected in Q1 2025
2025 Outlook
- Elemental Altus expects a record 11,600 - 13,200 GEOs in 2025, translating to record adjusted revenue of US
$30.1 million to US$34.3 million , based on a gold price of US$2,600 /oz and a copper price of US$4.00 /lb - This represents a
50% year-on-year increase in adjusted revenue at the mid-point of guidance - Production is anticipated to be weighted towards the first half of the year, driven by first gold sales at the Korali-Sud royalty and Caserones shipments delayed from Q4 2024 into Q1 2025
- Up to US
$15 million in one-off payments, with over US$10 million expected in the first half of the year - 2025 guidance is based on public forecasts from operators and the Company's internal assessments
Frederick Bell, CEO of Elemental Altus, commented:
"We are pleased to announce another record year for Elemental Altus, with preliminary adjusted revenue reaching US
Looking ahead, the Company is now debt-free, having repaid US
Director Appointment
Elemental Altus is pleased to welcome Sandeep Singh to the Board effective immediately. Mr. Singh brings extensive experience in the mining and royalty sector, including his tenure as President and CEO of Osisko Gold Royalties, where he successfully led its strategic turnaround. His expertise and familiarity with the royalty space and mining capital markets will be strong assets to the Company going forwards.
Robert Milroy has stepped down from the Board of Directors effective today, as previously announced. The Company extends its gratitude to Mr. Milroy for his valuable contributions over many years with the Company.
John Robins, Chair of the Board, commented:
"We are delighted to welcome someone of Sandeep's calibre and experience to the Board. His extensive experience across the mining sector and royalty space will be invaluable as we look to the next stage of the Company's growth. I would also like to thank Robert for his significant contributions over many years in getting the Company to this stage and we wish him all the best in retirement."
Sandeep Singh
Sandeep Singh is currently President and CEO of Western Copper and Gold. Prior to this, he was President and CEO of Osisko Gold Royalties and spent 15 years as an investment banker specializing in the North American metals and mining sector. He has advised numerous mining companies on financing alternatives and strategic matters and has been involved in some of the most complex and value-enhancing M&A transactions in the sector. Mr. Singh holds a Bachelor of Mechanical Engineering degree from Concordia University and an MBA from Oxford University.
Options and RSU Grant
The Company has granted 570,000 restricted share units (each "RSU") and 4,455,866 stock options to directors, officers, employees, and consultants of the Company. The RSUs vest in equal instalments over twelve, twenty-four, and thirty-six months. Each vested RSU will entitle the holder to receive one common share in the capital of the Company or the equivalent cash value thereof at the deemed price of C
The stock options have been granted to directors, officers, employees, and consultants of the Company under the terms of the Company's stock option and compensation share plan and are subject to the approval of the TSX Venture Exchange.
Frederick Bell
CEO and Director
Corporate & Media Inquiries:
Tel: +1 604 646 4527
Email: info@elementalaltus.com
Elemental Altus is a proud member of Discovery Group. For more information please visit: www.discoverygroup.ca or contact 604-646-4527.
TSXV: ELE | OTCQX: ELEMF | ISIN: CA28619K1093 | CUSIP: 28619K109
Neither the TSX Venture Exchange (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. The appointment of the new director to the Board is subject to the approval of the TSX-V.
About Elemental Altus Royalties Corp.
Elemental Altus is an income generating precious metals royalty company with 10 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. 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.
Qualified Person
Richard Evans, FAusIMM, is Senior Vice President Technical for Elemental Altus, and a qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.
Notes
1) Royalty revenue is received at zero cost. Distributions from associates related to Elemental Altus' effective royalty on Caserones are received net of Chilean taxes and have no other costs.
The preliminary adjusted revenue is based on sales volume of approximately 8,990 attributable GEOs from royalty contracts in 2024. This is in line with the lower end of the Company's guidance of 9,000 - 9,500 GEOs. GEO numbers were impacted by significant outperformance of the gold price relative to copper-based revenue, and delayed Caserones copper shipments which are expected to be realised in Q1 2025. These unaudited results should be read in conjunction with the Company's audited financial statements for the year ended December 31, 2024, as and when released.
1. Non-IFRS Measures
The Company has included certain performance measures which are non-IFRS and are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These non-IFRS measures do not have any standard meaning under IFRS and other companies may calculate measures differently.
Adjusted Revenue
Adjusted revenue is a non-IFRS financial measure, which is defined as including gross royalty revenue from associated entities holding royalty interests related to Elemental Altus' effective royalty on the Caserones copper mine. Management uses adjusted revenue to evaluate the underlying operating performance of the Company for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS such as revenue, investors may use adjusted revenue to evaluate the results of the underlying business, particularly as the adjusted revenue may not typically be included in operating results. Management believes that adjusted revenue is a useful measure of the Company performance because it adjusts for items which management believes reflect the Company's core operating results from period to period. Adjusted revenue is intended to provide additional information to investors and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. It does not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers.
Gold Equivalent Ounces
Elemental Altus' adjusted royalty, streaming, and other revenue is converted to an attributable gold equivalent ounce, or GEO, basis by dividing the royalty and other revenue from associates in a period by the average gold price for the same respective period. The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these non-IFRS measures differently. The production forecast was derived using information that is available in the public domain as at the date hereof, which included guidance and estimates prepared and issued by management of the operators of the mining operations in which Elemental Altus holds an interest. The production forecast is sensitive to the performance and operating status of the underlying mines. None of the information has been independently verified by Elemental Altus and may be subject to uncertainty. There can be no assurance that such information is complete or accurate.
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 (including negative and grammatical variations thereof).
Forward-Looking statements and information include, but are not limited to, statements with respect to forecasts of revenue and adjusted revenue for 2025, the timing for shipments from Caserones, the Company's ability to deliver an 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 and economic uncertainties created by the war in Ukraine and hostilities in the Middle-East; 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 December 31, 2023. 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/243049
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