Elemental Altus Stock Price, News & Analysis

Elemental Altus Royalties (TSXV: ELE, OTCQX: ELEMF) has appointed Matthieu Bos to its Board of Directors as an independent non-executive director. The appointment is made under the company's investor rights agreement with La Mancha, replacing Jack Lunnon as La Mancha's director nominee. The Board maintains seven directors, with six being non-executives.

Bos, currently President and CEO of Falcon Energy Materials plc, brings significant mining capital markets experience. In his previous role as Executive Vice President Africa at Ivanhoe Mines, he was instrumental in delivering the Kamoa-Kakula Copper Project and helped secure US$3 billion in equity and debt financings from investors including Zijin Mining and CITIC Metal.

Elemental Altus Royalties (TSXV: ELE, OTCQX: ELEMF) reports significant developments for two of its royalty assets. Fireweed Metals secured US$15.8M from the U.S. Department of Defense and C$12.9M from the Canadian government to advance the Mactung Project, where Elemental holds an uncapped 4% NSR royalty. The funding will support mine design optimization, studies, and infrastructure improvements.

Additionally, Rumble Resources plans to expedite development at the Western Queen Gold Project in Western Australia, where Elemental holds an A$6-A$20/oz gold production royalty and 2% NSR. Rumble has entered a non-binding term sheet with Bain Global Resources and MEGA Resources, targeting a joint venture agreement by February 2025.

Elemental Altus Royalties (TSXV: ELE) (OTCQX: ELEMF) has published its 2024 Asset Handbook, showcasing its portfolio of over 80 royalties covering approximately 13,500 square kilometres. Key 2024 highlights include:

- Doubled existing producing royalties over Bonikro gold mine, Ballarat gold mine, and SKO
- Increased ownership of 21 exploration and development royalties in Australia
- Acquired 4.0% NSR on Mactung Project in Canada
- Allied Gold began mining at Korali-Sud1 with 3.0% NSR royalty
- Karlawinda Gold Project announced 30% production expansion to 150,000 ounces annually
- Arizona Sonoran Copper's Cactus Project PEA outlined 232 million pounds annual copper cathode production over 20 years

Elemental Altus Royalties held its Annual General and Special Meeting on November 28, 2024, announcing significant board changes and voting results. The company is reducing board size from nine to seven members, with Peter Williams and David Netherway withdrawing from re-election. Robert Milroy will retire by March 31, 2025. La Mancha committed to replace one of its nominees with an independent board member by December 31, 2024. The company will establish a Nominating & Governance Committee to oversee corporate governance and board nominations. Shareholders approved the Omnibus Plan and Advance Notice Policy, with all resolutions receiving strong support.

Elemental Altus Royalties reports strong Q3 2024 performance with record quarterly cash flow and EBITDA. Key highlights include: royalty revenue of $3.7M (up 32% YoY), adjusted revenue of $4.8M, and 1,941 Gold Equivalent Ounces (up 3% YoY). The company achieved operating cash flow plus Caserones dividends of $2.8M (up 42%) and adjusted EBITDA of $3.7M (up 72%). Notable acquisitions include a 4% royalty on Mactung tungsten project and AlphaStream's portfolio for $28M in equity. The company revised its 2024 guidance, expecting adjusted revenue of $21.6M-$23.1M and reduced GEO guidance to 9,000-9,500 ounces.

Elemental Altus Royalties has expanded its Credit Facility by exercising a US$10 million accordion feature, increasing the total borrowing limit to US$50 million. Royal Bank of Canada (RBC) joins as a new lender alongside National Bank of Canada (NBC) and Canadian Imperial Bank of Commerce (CIBC). The company has already repaid US$10 million in 2024 and currently has US$20 million drawn. The Facility's maturity date was extended from December 2025 to June 2027, with interest rates at SOFR plus 2.50% - 3.75% based on leverage ratio.

Elemental Altus Royalties (TSXV: ELE) (OTCQX: ELEMF) has scheduled the release of its Q3 2024 financial results for November 18, 2024. The company will host an investor webcast on November 19, 2024, at 11am Eastern Time (8am Pacific Time), which will include a results discussion and Q&A session. A replay of the webcast will be available on the company's website after the presentation.

Elemental Altus Royalties announces that Capricorn Metals plans a significant expansion at the Karlawinda Gold Project, where Elemental holds a 2.0% NSR royalty. The expansion targets annual gold production of 150,000 ounces, representing a 30% increase, through enhanced processing capacity to 6.5 Mtpa. The A$120 million expansion project is expected to complete by Q2 2026. Karlawinda's Mineral Reserves recently increased by 15% to 1,428,000 ounces gold, with a current mine life of 10 years. The project contributed US$4.6 million in revenue to Elemental Altus in 2023 and US$2.5 million in H1 2024.

Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) has announced its Annual General and Special Meeting scheduled for November 28, 2024, in Vancouver. The company has nominated nine candidates for Board election and adopted a new advance notice policy. The policy requires shareholders to provide advance notice for director nominations, with specific deadlines: 30-65 days prior to annual meetings, or within 10 days of the announcement if the meeting is less than 50 days away. For the upcoming meeting, nominations must be submitted by November 8, 2024.