Altius Minerals sees Q3 attributable royalty revenue C$16.6M

Base and battery metals revenue of C$5.4M for the quarter reflects higher realized prices as well as higher copper stream deliveries from Chapada relative to the comparable year ago period. The Corporation’s preliminary cost of sales for the quarter related to the Chapada copper stream, excluding any depletion, is C$1.5M. Potash portfolio revenue during the second quarter was C$3.6M on lower production volumes due to scheduled summer maintenance programs and slightly lower prices. Iron ore royalty revenue in the form of dividends from Labrador Iron Ore Royalty Corp., which serves as a pass-through vehicle for royalty income and equity dividends related to the operations of Iron Ore Company of Canada, was C$2.6M, resulting from a lower IOC dividend. Renewable energy royalty revenue at Altius Renewable Royalties of C$3.4M reflects the continuing ramp up of operational stage portfolio projects and includes C$0.6M of investment income generated in its joint venture. On September 12 the Corporation announced that ARR had entered into a definitive arrangement agreement with an affiliate of Northampton Capital Partners, whereby Northampton will, subject to customary closing conditions, acquire all of the issued and outstanding common shares of ARR other than those indirectly owned by Altius by way of a statutory plan of arrangement for cash consideration of C$12 per share representing total consideration of approximately C$162M. The Corporation owns 58% of ARR at the end of Q3 and will continue to hold 17,937,339 shares after the close of the transaction which is expected in Q4.