Elemental Royalties Corp. (TSE:ELE) has released an update.
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Elemental Altus Royalties Corp. reported a triumphant fiscal year with record annual revenue of $11.7 million, a 69% increase from the previous year, and a significant rise in Gold Equivalent Ounces (GEOs) and EBITDA. The fourth quarter saw a maiden profit of $2.2 million, rebounding from a prior loss, and the company anticipates further growth with a strong outlook for 2024, including debt repayment and a robust balance sheet for future acquisitions. Investors are positioned to benefit from the company’s exposure to gold and copper prices, with the portfolio being approximately 70% leveraged to gold.
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