LA MANCHA SELLS STAKE IN ELEMENTAL ALTUS
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7. Dezember 2025, 17:44
LA MANCHA SELLS STAKE IN ELEMENTAL ALTUS
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Tether’s Acquisition of 31.9% Stake In Elemental Altus Is A Strategic Play
On June 16, 2025, the Acquiror purchased, pursuant to a private agreement in a transaction outside of Canada, an aggregate of 10,000,000 Common Shares (the "Purchased Shares").
Prior to the acquisition of the Purchased Shares, the Acquiror owned and had control over an aggregate of 82,782,291 Common Shares, representing approximately 33.7% of the issued and outstanding Common Shares. Immediately following the completion of the acquisition of the Purchased Shares, the Acquiror owned and controlled an aggregate of 92,782,291 Common Shares, representing approximately 37.8% of the issued and outstanding Common Shares.
The aggregate purchase price paid by the Acquiror for the acquisition of the Purchased Shares was CAD$15,500,000, representing a price per Purchased Share of CAD$1.55. The acquisition of the Purchased Shares was conducted via private agreement outside of Canada and not through any stock exchange or other securities market.
The Acquiror remains a party to an option agreement dated June 10, 2025 (the "Option Agreement") pursuant to which the Acquiror has the option to acquire (but not the obligation to acquire), in an offshore transaction, and subject to certain terms and conditions, an aggregate of 33,444,580 Common Shares from a third party (the "Option Shares"). The option has not been exercised and may not be exercised prior to October 29, 2025 without the consent of Elemental.
If the Option Shares are acquired by the Acquiror pursuant to the Option Agreement, assuming no intervening Common Shares are acquired by the Acquiror or issued by Elemental (and assuming no additional Common Shares subsequently form part of the Option Shares), the Acquiror would own and control 127,226,871 Common Shares of the Issuer, representing approximately 51.8% of the issued and outstanding Common Shares.
Gleason & Sons Increases Its Holdings in Elemental Altus Royalties After Tether’s Investment, Expanded Revenues
Schade dass sie nicht verraten, zu welchem Durchschnittspreis sie die Million Aktien gekauft haben, den sie für unterbewertet gehalten haben.
Aber das Ganze gefällt mir gar nicht.
ZitatWe believe Elemental Altus remains significantly undervalued and is well positioned not only to acquire additional royalties, but also, potentially, to serve as a catalyst for consolidation in the mining royalty space." Gleason concluded.
Interessante Andeutung. Was wollen sie damit suggerieren?
Wäre ELE ein Übernahmeziel, mit rd 50% Tether und X% Gleason als Mehrheitsaktionär? Eher wohl nicht.
Oder wollen sie ELE möglicherweise als Vehikel nutzen, um [beliebige kleinere bis mittelgroße Royalty-Gesellschaft] gegen Aktien zu übernehmen? Oder ist es das Kalkül von Gleason, dass sie das von Tether annehmen?
Um, böse Spekulation meinerseits, mit ELE einen Haufen Royalty-Gesellschaften zu konsolidieren und ELE am Ende womöglich von der Börse zu nehmen und die Kleinaktionäre herauszudrängen?
Gruß,
GL
The Company’s subsidiaries, Cactus 110 LLC and Arizona Sonoran Copper Company USA, Inc., have provided notice of exercise of their rights to buy‑down (i) Royal Gold’s 2.5% NSR to 2.0% for US$7.0 million and (ii) Elemental Altus’ 0.68% NSR to 0.54% for US$1.91 million, that will result in an aggregate reduction in Cactus Project royalties of 0.64% for aggregate payments of US$8.91 million. These NSRs were initially purchased in 2021 by funds of Tembo Capital and Resource Capital Funds, which each subsequently sold its NSRs to Royal Gold (December 2024) and Elemental Altus (September 2023), respectively. The Buy-downs are expected to close on or about August 12, 2025, following which Royal Gold will hold a 2.0% NSR and Elemental Altus a 0.54% on the Cactus Project (as shown in FIGURE 1, outlined in yellow).
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2025) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or the "Company") is pleased to acknowledge the receipt of regulatory approval by Capricorn Metals Limited (ASX: CMM) ("Capricorn") for the full development of the Karlawinda Expansion Project in Western Australia. The expansion is expected to increase annual gold production by approximately 25% to 150,000 ounces per annum. Elemental Altus holds an uncapped 2% net smelter return (NSR) royalty.
Highlights
Financial Highlights
Financial Performance for the 3 and 6 months ended June 30, 2025 and 2024:
Three months ended June 30, | Six months ended June 30, | |||
2025 | 2024 | 2025 | 2024 | |
$'000 | $'000 | $'000 | $'000 | |
Income Statement | ||||
Total revenue | 9,094 | 3,752 | 20,733 | 7,079 |
Adjusted revenue1 | 10,497 | 5,201 | 23,758 | 9,948 |
Total net profit / (loss) | 160 | (114) | 3,608 | (1,128) |
Cash Flow Statement | ||||
Cash flows from operations plus Caserones dividends1 | 14,410 | 1,435 | 17,704 | 2,605 |
Other Non-IFRS Measures | ||||
Adjusted EBITDA1 | 8,784 | 3,441 | 20,255 | 6,640 |
Total attributable Gold Equivalent Ounces ("GEO") 1 | 3,184 | 2,211 | 7,790 | 4,494 |
Frederick Bell, CEO of Elemental Altus, commented:
"Elemental Altus has delivered another outstanding quarter, with adjusted revenue more than doubling to US$10.5 million, adjusted EBITDA up 155% to US$8.8 million, and GEOs increasing 73% year-on-year. These results reflect the strength of our royalty portfolio, with stand-out contributions from Karlawinda, Korali-Sud, and Bonikro.
Our financial position has never been stronger, with over US$27 million in cash at quarter end, a fully undrawn US$50 million credit facility, and record free cash flow generation. In addition, the recent regulatory approval for the Karlawinda Expansion Project, targeting 150,000 ounces per year, will add a significant long-term boost to our uncapped 2% NSR royalty.
With strong momentum across our assets, increasing gold price and the capacity to pursue new accretive deals, we are well placed to build on this record first half and deliver another exceptional year. "
Highlights:
ELE und EMX fusionieren.
David Cole wird CEO, Frederick Bell COO. Mal sehen wie lange Tether so einen großen Overhead bezahlen will.
Nur David Cole im Aufsichtsrat. Frederick Bell war ja schon vorher degradiert worden.
Nicht ELE fusioniert mit EMX, sondern Tether kauft über die Plattform ELE nun EMX hinzu?
Sandeep Singh, Alpha Stream, Tether... die Finanzjongleure haben übernommen. Wer sind die Fußballfans, Juan Sartori und Simon Vumbaca?
Und
was wird mit Metalla und GROY?
Die Kurse sind in jüngerer Zeit ähnlich nach oben geschossen wie bei EMX
Grusliger Gruß,
GL
Alles anzeigen
Interessante Andeutung. Was wollen sie damit suggerieren?
Wäre ELE ein Übernahmeziel, mit rd 50% Tether und X% Gleason als Mehrheitsaktionär? Eher wohl nicht.
Oder wollen sie ELE möglicherweise als Vehikel nutzen, um [beliebige kleinere bis mittelgroße Royalty-Gesellschaft] gegen Aktien zu übernehmen? Oder ist es das Kalkül von Gleason, dass sie das von Tether annehmen?
Um, böse Spekulation meinerseits, mit ELE einen Haufen Royalty-Gesellschaften zu konsolidieren und ELE am Ende womöglich von der Börse zu nehmen und die Kleinaktionäre herauszudrängen?
Gruß,
GL
Das schrieb ich Ende Juni.
Teil 1 bewahrheitet sich. Wir werden sehen wie es weiter geht.
Mehr gleich.
Gruß,
GL
Thema Fußballfans und Finanzjongleure. Diese Nachricht war mir glatt entgangen. Die Relevanz checke ich erst jetzt - und selbst das noch nicht richtig.
Das kommt mir definitiv NICHT wie die Handschrift von Frederick Bell vor. Wird ELE von den Strippenziehern zu einem Vehikel nach ihrer Fasson umgebaut? Dessen Art ich erst noch verstehen muss.
Hat jemand Gedanken dazu?
Gruß,
GL
Edelmetalle und Stablecoins
Tether ist keine Kryptowährung , sondern ein Stablecoin, d.h ein Tether ist immer genau einen Dollar wert. Das hat den Vorteil das mit Tether Zahlungsverkehr und Handel möglich ist da er keine Währungsschwankungen aufweist und technisch leicht beweglich ist. Bisher ist das Vermögen in US-Staatsanleihen hinterlegt. Offensichtlich erkennt man das große Risiko in diesen Anleihen und sieht im Gold eine gewinnbringende und sicherere Alternative.
Oder man bereitet einen Gold-Tether vor, eine Krypto-Zahlungsmöglichkeit die Goldtransfers einfach und preisgünstig macht, also statt Dollar wird für einen Gold-Tether z.B. 1% einer Unze Gold hinterlegt.
Alles anzeigenDas schrieb ich Ende Juni.
Teil 1 bewahrheitet sich. Wir werden sehen wie es weiter geht.
Mehr gleich.
Gruß,
GL
Mit dem Einstieg in Elemental Altus Royalty verfolgt Tether einen masterplan:
Es ist ein klares Signal, dass Tether langfristig denkt und sich als major Player in der Fusion von traditionellen Finanzen, Rohstoffen und Kryptotechnologie positionieren möchte.
Ich glaube wir werden da noch mehr Zukäufe sehen, es gibt noch einige Kandidaten die Gold und Kupfer-Streams haben wie Globex-Mining, Vox-Royalty und leichter zu erwerben sind als die großen Firmen wie Royalty Gold, FNV, Triple Flag. Für den Goldpreis wäre das explosiv, da die Streams in die Tresore von Tether wandern und dort die Ausgabe neuer Stable-Coins generieren aber nicht mehr am physischen Markt ankommen.
Edelmetalle und Stablecoins
Oder man bereitet einen Gold-Tether vor, eine Krypto-Zahlungsmöglichkeit die Goldtransfers einfach und preisgünstig macht, also statt Dollar wird für einen Gold-Tether z.B. 1% einer Unze Gold hinterlegt.
Ja, von Tether-Gold XAUt ist in der Meldung die Rede. Soll ein goldgedecktes digitales Token sein.
Interessant Dein Gedanke, dass das Gold aus ELEs Royalties und Streams nicht mehr (in den Markt) verkauft wird... sondern dann wohl an Tether. So dass die es nicht im Markt kaufen müssten. Das dürfte netto aber für den Goldpreis das Gleiche sein, egal woher Tether sein Gold holt. Wenn ich mir dann vorstellen, dass Tether das Gold bei ELE mit seinem goldgedeckten Tether-Gold bezahlt, wird mir schwindlig beim Versuch, die Konsequenzen zu begreifen.
Gruß,
GL
https://seekingalpha.com/account/portfolio/all/holdings
Auszug:
"Trevor Hall
Okay. Actually, so you mentioned Tether. I'm wondering if -- one, if you might be able to jump on. There's a couple of questions that came in, probably best for you to address it. Thanks so much for joining us and giving us some of your time. Maybe first, quick comments from you, the backing of this deal, and welcome to the Gold Royalty space.
Juan Jose-Pineyro Sartori
Executive Chairman
No, it's a pleasure to be here. Thank you for allowing me to address it. First of all, I would say congratulations to everybody because it was some weeks of a lot of work, a lot of due diligence, a lot of structuring lawyers and organization. But I think we are all very, very happy and excited to announce this transaction today. I think the market is seeing the benefits that we saw when we started discussing it for quite some time.
And I think what I would highlight is the power of the combination because you have 2 very good companies with very good management with good assets, but the combination of the 2 is not an addition. It's a multiplication of value of experience of capacity. They are very complementarity. And if you look at philosophically always there's a bit of a dispute between the generation model and the acquisition model. And I think here, we were able to put together the best-in-class of royalty acquisitions with the best-in-class of royalty generations. And they are both very complementary and can create a lot of value together.
I think when I see it today that we are doing the dream team of royalty of the next years and this is the basis for a company that is going, I think, to surprise by the value of what it can do. From our point of view, also at Tether to have been a catalyst for this to happen as a supportive shareholder where the whole pipeline and opportunities that this management team see, we're able now to fund to lower the cost of capital in order to reach those levels of bigger company, bigger valuation and that virtuous cycle that we see happening when gold royalty companies start growing in size, become more profitable and become more organized.
But we also see it in the experience of David and the youth of Fred, the capacity of the team to work together there. The fact that it's now a global company with presence in London, in Denver, royalties all over the world. From almost all point of view, we see really a multiplication of the power of this combination and very, very strong and clear catalyst in the very short term.
I would say, even between now and the end of the year, we're going to have so many exciting and positive catalysts, whether it's the U.S. listing, more liquidity, more coverage, more capacity to go with this additional financing for opportunities that we are seeing that makes us very, very excited and proud to announce this deal today and be part of it and to see the support we got from all the shareholders that we crossed the wall a few days ago and are getting in touch today.
I think we are all very aligned on what we want to accomplish and that the future is very, very bright and announced this on a day where gold is reaching an all-time high and going into uncharted territories as probably just the beginning of a very powerful trend would not position us better to announce this deal in this moment with this team. So we will be supporting and really strongly, strongly working hard at continuing with this kind of transactions that we are announcing today in the short-term future of the company.
Trevor Hall
Thanks, Juan. There was a question that actually came in or a couple of them I'd like to address with you. One of them is Tether's in your roles with this new merged company on the back of now it's kind of a multipronged business strategy with the prospect generation. What kind of support or how do you see that role from you and Tether coming in to support the other aspects of this new business?
Juan Jose-Pineyro Sartori
Executive Chairman
We have -- we believe that here, we haven't invested only in gold or only in royalties, we've invested in people. And we see the value of the experience here as one of the most important intangibles of this company that we want to support and is going to create the value. So really, what we have said is you guys are the best in this industry. We want to allocate more capital to this industry, and this is the trusted vehicle and the trusted team to do it.
So really, we will be able to support and back their views of the market that as we see by the track record is also very disciplined. So they deploy in smart deals, in good deals. They know how to find it. And I don't think it's a matter of allocating generation versus acquisitions. It's really a matter of allocating profitably and creating value across all of the different possibilities that this team has now of executing.
Trevor Hall
Okay. There was another question that came in regarding Tether. Do they hold antidilution rights? And do -- does Tether intend to continue that exercise?
Juan Jose-Pineyro Sartori
Executive Chairman
We -- I don't think we have anti-dilution rights. So -- but we are a happy shareholder and probably we are happy to continue investing more into the company if it requires financing and be very supportive. If the company has good ideas, we are happy to provide more capital at it, like most of the other shareholders that called us today. And definitely, the idea is to try to retain the high, high-quality shareholder list that this company already had.
We are a big and very committed shareholder, but I think there's a lot of equally impressive and equally supportive shareholders in this company that we are very, very proud to partner with from now into the future.
Trevor Hall
Yes. You've done an excellent job of really merging physical assets with the digital assets, leaps and bounds in the last 6 months or so. What can you tell us from the sentiment you hear from the new generation of digital assets and the people focusing in that -- in this realm? Are they starting to look towards the likes of Tether and the physical asset market and the gold asset that maybe we're starting to see a shift or a rotation within the generational models of those 2. Can you address that?
Juan Jose-Pineyro Sartori
Executive Chairman
I have no doubt that the new generation has realized that the financial system or the traditional one has to change and probably is stronger and better for people if it relies on nongovernment-related assets that have a real value and have limited supply, like, for example, our gold or Bitcoin in the digital way. But I don't think they separate by digital or real. They separate into non-intervened assets that have limited supply and real value. And all of the financial system will start relying more on those assets and less in the traditional ones.
So what -- the impact we see in gold today is because central banks are suddenly again realizing it's a better asset to hold than most of the fiat or treasuries or financial assets because retail people are suddenly able to own gold in innovative ways like can be Tether Gold, one of our products where they can suddenly own it on a wallet, use it to pay for anything without having to have physical one or paying the huge fees that the financial industries can put.
The financial industry transform gold into a negative carry asset when actually it's not. So we think that some of those digital innovations can probably give gold a stronger shine, make it more accessible for more people. Why not be more and more of the international reserve currency that it once was, thanks to the technological innovations.
That's the direction that we think is going and why we like the exposure to gold. And then obviously, exposure to gold with an additional value that is the royalty model that David explained very well why it's superior is what makes this company so attractive to invest in.
Trevor Hall
A lot of focus on gold. Can you address merging of Caserones brings in a lot of copper as well. EMX has a number of base metal assets within that portfolio, silver as well. You talked a lot about gold. Can you maybe address not only silver, obviously, that's important as well in the precious metals complex, but also the base metals coming into this portfolio?
Juan Jose-Pineyro Sartori
Executive Chairman
Look, the focus is gold and precious metals. But David gave me a geological explanation. The gold rarely comes alone. So you go to look for the gold, usually, you're going to get copper, silver or other things. So it's part of the pursuit of what we like the most, makes it a better business, but taking the rest of it. And I think there's a fine line there.
Precious metals companies trade at a better valuation. We want to make sure that there are some diversification, but at the same time, the focus on precious metals is important for investors' exposure to be clearly defined for valuation of the company. So we may have some other royalties, but I think the focus will continue to be on precious metals and a big, big percentage of it in gold and associated ones."
Tether ein faszinierendes Anlagenimperium
Ja, von Tether-Gold XAUt ist in der Meldung die Rede. Soll ein goldgedecktes digitales Token sein.
Hier ein Video das hochinteressant ist, leider in Englisch. Für eilige eine Fakten daraus:
- Tether hält 105 Mrd.$ an US-Staatsanleihen
- 16 Mrd $ an Unternehmensanleihen
- 9 Mrd $ an Edelmetallen
- Howard Lutnik hat Tether bis zu seiner Ernennung durch D. Trump zum Handels-Staatssekretär geführt
- Tether macht gute Gewinne und steckt sie nicht in Staatsanleihen , diese dienen nur zur Deckung der Stable Coins, sondern kauft andere Werte unter anderem Edelmetalle.
- Tether hat 9000 Bitcoin (= 1Mrd. US$) verkauft und dafür Gold gekauft
- Tether investiert weitere 100 Mill $ in EMX + Elemental Altus, geht also gehebelt ins Gold
Fazit: Die Firma macht mit dem Tether Stable Coin gute Gewinne und steckt in jüngster Zeit immer mehr in Edelmetalle, vor allem Gold. Da hier Profis am Werk sind ist die Goldseitenforum Community richtig im Kurs bei ihren Investitionen in EM.