de cotation: TORONTO
Altius directly and indirectly holds diversified royalties
and streams that 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. In addition, Altius
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 43,335,654 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
REPORTS THIRD QUARTER FINANCIAL RESULTS DECLARES QUARTERLY DIVIDEND
St. John’s - Altius Minerals Corporation (“Altius” or the
“Corporation”) reports attributable revenue(1) for the three months
ended January 31, 2017 of $14,535,000 or $0.34 per share and adjusted
EBITDA(2) of $11,262,000 or $0.26 per share compared to attributable
revenue of $7,301,000 or $0.18 per share and adjusted EBITDA of
$6,273,000 or $0.16 per share for the prior year comparable period.
This represents a new quarterly attributable revenue record and is a
46% increase over the second quarter ended October 31, 2016 and 99%
over last year’s comparable quarter ended January 31, 2016.
Year to date, the Corporation has recorded attributable revenue of
$32,911,000 (2016 - $25,620,000) and adjusted EBITDA
of $24,451,000 (2016 – $18,843,000).
The net loss for the quarter was $67,293,000, or $1.55 per share,
compared to a net loss of $16,794,000, or $0.42 per share, for the
comparable prior year quarter. The year to date net loss is $64,046,000
(2016 – $18,479,000).
The increased quarterly and year to date revenue is as a result of
higher realized prices for copper, zinc and metallurgical coal, the
first full quarter of revenue from the Chapada copper stream, improved
potash royalty production volumes and mine sequencing based volume
increases from its thermal coal royalties. These revenue increases were
partially offset by lower realized potash prices and a nil payment
related to the Voisey’s Bay royalty.
The higher quarterly and annual net losses result largely from the
previously reported recognition of a non-cash
impairment charge of $72,001,000 for the Corporation’s Genesee royalty
interest during the quarter. This decision was made in response to
policy changes in the province of Alberta that are intended to phase
out coal fired electrical generation by 2030.