Altius Minerals Corporation Provides 2024 Update
Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF) is excited to share insights into its Project Generation business activities and recent updates regarding its public junior equities portfolio. As of the end of 2024, the market value of the junior equities portfolio stood at $60.4 million, reflecting a significant increase from $45.1 million at the end of the previous year.
Fiscal Strategy and Monetization Initiatives
In early 2024, Altius opted to monetize certain liquid equities within its portfolio to support an acceleration in its share buyback program and explore other investment opportunities. This move has generated $26.4 million in gross proceeds, with a substantial investment of $11.3 million allocated to the purchase of shares in Orogen (TSX-V: OGN) and other equities. This resulted in a net monetization total of $15.1 million for the year, not included in the current portfolio value of $60.4 million.
Highlights from the Junior Equities Portfolio
Currently, Altius holds a significant interest in Orogen Royalties Inc. (TSX-V: OGN), amounting to 39,557,961 common shares or approximately 19.6% of the company. Orogen has successfully executed its business model of royalty creation through project generation, achieving notable milestones, including over $5 million in royalty revenue for 2024 from the Ermitano gold mine. Recent discoveries, such as the Navidad vein system, hint at a promising extension of mine life.
Strategic Alliances and Projects
In addition to its equity interests, Altius and Orogen have strengthened their strategic alliance in Nevada, identifying several new projects with geological similarities to the Silicon discovery. Two promising projects, Cuprite and Celts, have been sold to Strikepoint Gold (TSX-V: SKP) and Eminent Gold (TSX-V: EMNT), respectively, while other projects are making progress toward being market-ready.
Adventus Mining's Acquisition and Future Developments
Furthermore, Adventus Mining Corp., which was co-founded by Altius, was acquired by Silvercorp Metals Inc. (TSX: SVM). Following this acquisition, Silvercorp announced the initiation of construction for mine infrastructure in 2024, with an eye toward first production by 2026 from the El Domo copper-gold project in Ecuador, where Altius retains a 2% NSR royalty.
Diverse Equity Positions and Exploration Efforts
Altius maintains various junior equity holdings and royalty interests that span multiple exploration projects across different jurisdictions. This diversified portfolio aims to maximize opportunities across a range of commodities, enhancing overall value.
Key Projects and Their Progress
- Canstar Resources Inc. (ROX: TSX-V): Advancing the Golden Baie Project in central Newfoundland, with Altius holding a 2% NSR royalty.
- Tru Precious Metals Corp. (TRU: TSX-V): Actively progressing the Golden Rose Project through an earn-in option agreement with Eldorado Gold Corp., wherein Altius retains a 2% NSR royalty.
- Churchill Resources Inc. (TSX-V: CRI): Conducting further geophysical surveys and drilling at the Taylor Brook nickel property, where Altius retains a 2% NSR royalty.
Altius is also committed to exploring multiple wholly-owned and joint venture projects, all geared toward generating new royalties and other interests.
Qualified Person Statement
Dr. Lawrence Winter, P.Geo., Vice President of Generative & Technical initiatives at Altius, has reviewed and approved the scientific and technical data presented herein, adhering to National Instrument 43-101 standards.
About Altius
Altius’s strategic direction focuses on delivering per-share growth through a diverse royalty asset portfolio tied to long-term, high-margin operations. This alignment supports shareholder interests while addressing global sustainability trends such as the transition to renewable energy, electrification, and increased agricultural yield demands. These macroeconomic shifts may escalate the demand across various commodities linked to Altius, including copper, key battery metals, and iron ore. Besides its project generation business, Altius actively develops mineral projects, aiming for equity stakes and royalties. With 46,290,608 common shares listed on the Toronto Stock Exchange, Altius is part of the S&P/TSX Small Cap and Global Mining Indices.
Frequently Asked Questions
What is the market value of Altius's junior equities portfolio?
The market value of Altius's junior equities portfolio as of December 31, 2024, is $60.4 million.
How has Altius's share buyback program progressed?
Altius generated $26.4 million in gross proceeds from monetizing liquid equities to accelerate its share buyback program in 2024.
What significant interests does Altius hold in Orogen?
Altius holds approximately 19.6% of Orogen Royalties Inc., equating to 39,557,961 common shares.
What projects have been sold by Altius and Orogen in Nevada?
They have sold the Cuprite and Celts gold projects to Strikepoint Gold and Eminent Gold, respectively.
What is Altius’s approach to sustainability and resource demand?
Altius aligns its strategy with sustainability trends, focusing on commodities tied to renewable energy and agricultural efficiency.
