Yahoo Finance

All references in thousands of Canadian dollars, except per share amounts, unless otherwise indicated

ST. JOHN’S, Newfoundland, April 17, 2025--(BUSINESS WIRE)--Altius Minerals Corporation (ALS: TSX) (ATUSF: OTCQX) ("Altius" or the "Corporation") expects to report Q1 2025 attributable royalty revenue⁽¹⁾ of $15.0 million.

Royalty Revenue Summary

Base and battery metals (primarily copper) revenue of $6.8 million for the quarter reflects the timing of copper stream deliveries from Chapada, specifically in January due to a lag in sales relative to production late in 2024, as well as higher Voisey's Bay revenue.

The Corporation's preliminary cost of sales on the Chapada copper stream, excluding any depletion, is $1.9 million for the quarter.

Potash portfolio revenue during the quarter was $3.9 million mainly on lower attributable volumes due to mine unit sequencing at Rocanville and an annual maintenance shutdown at Allan.

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 $1.9 million for the quarter as a result of higher IOC dividends.

Renewable energy royalty revenue of $1.6 million reflects the continuing ramp up of operational stage portfolio projects and includes $0.4 million of investment income. In the first quarter of 2024 there was one time revenue associated with a transmission upgrade at Titan Solar and project sales at development partner Hexagon Energy.

Non GAAP Financial Measures

1. Management uses the following non-GAAP financial measures: attributable revenue, attributable royalty revenue, adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA), adjusted operating cash flow and adjusted net earnings (loss). Management uses these measures to monitor the financial performance of the Corporation and its operating segments and believes these measures enable investors and analysts to compare the Corporation’s financial performance with its competitors and/or evaluate the results of its underlying business. These measures are intended to provide additional information, not to replace International Financial Reporting Standards (IFRS) measures, and do not have a standard definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As these measures do not have a standardized meaning, they may not be comparable to similar measures provided by other companies. Further information on the composition and usefulness of each non-GAAP financial measure, including reconciliation to their most directly comparable IFRS measures, is included in the non-GAAP financial measures section of our MD&A.