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Altius Minerals Corporation - ATUSF STOCK NEWS

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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.

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Altius Minerals (TSX: ALS) (OTCQX: ATUSF) expects to report Q2 2024 attributable royalty revenue of $21.8 million, up from $17.4 million in Q1 2024 and $18.7 million in Q2 2023. Key highlights include:

- Base and battery metals revenue: $5.5 million, driven by higher copper prices and stream deliveries
- Potash revenue: $4.8 million, slightly lower due to decreased production volumes and prices
- Iron ore revenue: $4.1 million, increased from higher IOC dividend
- Renewable energy royalty: $2.1 million, reflecting operational portfolio growth
- Interest and other revenues: $5.3 million, including $3.7 million from loan settlement

The company will release full Q2 2024 financial results on August 8, 2024, followed by a conference call on August 9, 2024.

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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.

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Altius Minerals announced on June 24, 2024, that it sold 10,000,000 common shares of Churchill Resources at $0.05 per share, generating $500,000 in gross proceeds. This transaction reduced Altius’s stake in Churchill from 12.6% to 5.5%, thereby lowering its holdings by approximately 7.1% and causing Altius to fall below the 10% reporting threshold under applicable securities laws. Altius disposed of these shares in the ordinary course of business and may adjust its holdings based on market conditions. An early warning report has been filed on SEDAR+.

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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.

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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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Altius Resources Inc., a subsidiary of Altius Minerals , acquired 7,115,546 common shares of Orogen Royalties Inc. through an exercise of warrants, increasing its holdings to 18.15% of the issued and outstanding Common Shares. Altius acquired the shares for investment purposes and may adjust its holdings based on market conditions.
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Altius Minerals expects to report Q1 2024 attributable royalty revenue of $17.4 million, with revenue breakdowns in various sectors. The company saw growth in base & battery metals revenue due to higher copper stream deliveries, while potash revenue remained steady. Iron ore royalty revenue was from dividends from Labrador Iron Ore Royalty Corp. Renewable energy royalty revenue continued to grow, and thermal coal revenue was nil due to mine closure. The company uses non-GAAP financial measures to monitor performance.
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Altius Minerals provides an update on its Project Generation business activities and public junior equities portfolio, reporting a market value of $45.4 million at the end of March 2024. The company generated $7.2 million in net cash proceeds from various portfolio sales during the quarter.
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Altius Minerals reports on the Alberta Court of Appeal's decision to dismiss its Statement of Claim against the governments of Alberta and Canada for the constructive taking of its Genesee mine royalty asset. The Court upheld the dismissal, stating the legal test was not met, impacting Altius's mineral royalty rights.
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Altius Minerals Corporation reports a decline in revenue for the full year 2023, primarily due to lower potash prices and mine closures. The company highlights significant developments in its royalty portfolio, including the Kami project study and increased resources at Silicon Merlin. Despite stabilized prices, Altius remains cautious about market supply deficits. The PR also mentions updates from key projects like the Expanded Silicon Project and Saúva deposit, contributing to future growth potential.
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FAQ

What is Altius Minerals Corp's core business?

Altius Minerals Corp is engaged in the acquisition and management of mineral resource assets, generating royalties from mines across various commodities.

How does Altius Minerals Corp generate revenue?

Altius Minerals Corp generates revenue by collecting royalties from mining projects globally, providing investors with exposure to the mining sector.

What commodities does Altius Minerals Corp have royalty interests in?

Altius Minerals Corp has royalty interests in commodities such as copper, nickel, and iron ore, among others.

What recent achievements has Altius Minerals Corp reported?

Altius Minerals Corp has reported strong financial performance, driven by robust commodity prices and successful royalty acquisitions.

How is Altius Minerals Corp expanding its royalty portfolio?

Altius Minerals Corp is expanding its royalty portfolio through strategic partnerships and acquisitions, positioning itself for sustainable growth in the mining sector.

Altius Minerals Corporation

OTC:ATUSF

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ATUSF Stock Data

725.36M
43.96M
18.98%
25.64%
Dimension Stone Mining and Quarrying
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
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