Altius Reports Second Quarter Attributable Royalty Revenue1 of $16.5M
Altius Minerals Corp. (“Altius” or the “Corporation”) reports that it will release financial results for its second quarter of 2018 on August 8, 2018 after the close of market. The Q2 2018 results for the period ended June 30, 2018 will be presented in comparison with the three month period ended July 31, 2017 as a result of the recent conversion to a calendar year end.
Altius expects to report attributable royalty revenue1 of approximately $16.5 million, or $0.38 per share, for the three-month period ended June 30, 2018, which is 9.6% higher compared with $15.1 million, or $0.35 per share, reported in the quarter ended July 30, 2017. It is also 4.7% higher than Q1 2018 revenue of $15.8 million, or $0.37 per share.
The second quarter results showed year over year growth in base metals and potash and declines in iron ore and thermal coal. Royalty revenues benefited particularly from strong production volume results at Chapada, higher potash prices and the integration of additional potash royalties that were acquired late the first quarter. Labrador Iron Ore Royalty Corp. paid a significantly lower dividend, as the Iron Ore Company of Canada was impacted for most of the quarter by a labour disruption that has since been resolved. Thermal coal revenues were slightly lower as a result of mine sequencing at Sheerness and Highvale mines. Additional details relating to individual royalty performances will be provided with the release of full financial results.
| Summary of attributable royalty revenue | Three months ended | Three months ended 2017 | Change | ||||
| Base metals | 7,721 | 7,016 | 10 | % | |||
| Thermal (electrical) coal | 3,288 | 3,577 | -8 | % | |||
| Potash | 3,813 | 1,758 | 117 | % | |||
| Iron ore (2) | 788 | 1,391 | -43 | % | |||
| Metallurgical coal | 677 | 652 | 4 | % | |||
| Coal bed methane and interest | 256 | 706 | -64 | % | |||
| Attributable royalty revenue | 16,543 | 15,100 | 9.6 | % | |||
| (2) LIF dividends | |||||||
Q2 2018 Financials Conference Call and Webcast Information:
A conference call will be held on Thursday, August 9, 2018, starting at 9:00 a.m. EST to further discuss the quarter and guidance for 2018. To participate in the conference call, use the following dial-in numbers and conference ID, or join the webcast on-line as detailed below.
| Time: | 9:00 a.m. EST on Thursday, August 9, 2018 | |
| Dial-In Numbers: | +1 844-473-0974 local or +1-480-696-7316 international | |
| Pass code: | 1997728 | |
| Conference Title: | Altius June 30, 2018 quarterly results | |
| Webcast URL: | https://edge.media-server.com/m6/p/85g9wgqj | |
The call will be webcast and archived on the Corporation’s website for a limited time.
1 Attributable royalty revenue is a non?IFRS measure and does not have any standardized meaning prescribed under IFRS. The Corporation is finalizing the adoption of IFRS 15 and these figures are subject to change. For a detailed description and examples of the reconciliation of this measure, please see the Corporation’s MD&A disclosures for prior quarterly and annual reporting periods, which are available at http://altiusminerals.com/financial-statements
About Altius
Altius directly and indirectly held diversified royalties and streams generate revenue from 15 operating mines. These are located in Canada and Brazil and produce copper, zinc, nickel, cobalt, iron ore, potash and thermal (electrical) and metallurgical coal. The portfolio also includes numerous pre-development stage royalties covering a wide spectrum of mineral commodities and jurisdictions. It also holds a large portfolio of exploration stage projects which it has generated for deal making with industry partners that results in newly created royalties and equity and minority interests.
Altius has 43,215,026 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.
Forward-Looking Information
This news release contains forward?looking information. The statements are based on reasonable assumptions and expectations of management and Altius provides no assurance that actual events will meet management's expectations. In certain cases, forward?looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius believes the expectations expressed in such forward?looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Mining exploration and development is an inherently risky business. In addition, factors that could cause actual events to differ materially from the forward-looking information stated herein include any factors which affect decisions to pursue mineral exploration on the relevant property and the ultimate exercise of option rights, which may include changes in market conditions, changes in metal prices, general economic and political conditions, environmental risks, and community and non-governmental actions. Such factors will also affect whether Altius will ultimately receive the benefits anticipated pursuant to relevant agreements. This list is not exhaustive of the factors that may affect any of the forward?looking statements. These and other factors should be considered carefully and readers should not place undue reliance on forward-looking information. Altius does not undertake to update any forward-looking information contained herein except in accordance with securities regulation.
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Contact
Altius Minerals Corporation
Flora Wood, 1-877-576-2209
flora@altiusminerals.com
or
Ben Lewis, 1-877-576-2209