Elemental Altus Royalties / ELE (TSX.V)

    Elemental Royalties Provides Statement on Gold Royalty's Intention to Make Unsolicited Bid
    https://ceo.ca/@newsfile/eleme…tatement-on-gold-royaltys
    The Company's Board of Directors (the "Board") cautions shareholders that no formal offer has been made by Gold Royalty, and as such there is no need for shareholders to take any action at this time. When and if a formal offer is made, it will be reviewed by the Board with its legal and financial advisors, and a formal recommendation by the Board will be made to shareholders in due course.
    The Company confirms that it previously received unsolicited, non-binding and conditional proposals from Gold Royalty to acquire all of the issued and outstanding common shares of the Company (the "Conditional Proposals"). Upon receipt of the Conditional Proposals, consistent with its fiduciary duties, the Board engaged legal and financial advisors to assist the Company in assessing the Conditional Proposals.
    In response, based on a comprehensive assessment of the Conditional Proposals, the Board informed Gold Royalty that the Board did not find the Conditional Proposals compelling, and therefore did not have an interest in pursuing any such proposals.

    Elemental Royalties Adopts Shareholder Rights Plan
    https://ceo.ca/@newsfile/eleme…s-shareholder-rights-plan


    In connection with the adoption of the Rights Plan, the Board authorized the issuance of one Share purchase right (a "Right") in respect of each Share outstanding as of the close of business on December 30, 2021 (and each Share issued thereafter, subject to the limitations set out in the Rights Plan). No separate certificates will be issued for the Rights unless an event triggering the exercise of the Rights occurs.
    The Rights will become exercisable only when a person (an "Acquiring Person"), together with its affiliates, associates and joint actors, acquires or attempts to acquire beneficial ownership of 20% or more of the outstanding Shares without complying with the "Permitted Bid" provisions of the Rights Plan or without approval of the Board. Should such an acquisition occur or be announced, each Right would, upon exercise, entitle the holder thereof (other than the Acquiring Person and its affiliates, associates and joint actors) to purchase Shares at a 50% discount to the market price at the time. The Rights Plan provides that the Rights are redeemable by the Company in certain circumstances.


    Gold Royalty Commences Formal Offer to Acquire Elemental Royalties Corp.


    The Consideration

    VANCOUVER, BC, Jan. 11, 2022 /CNW/ - Gold Royalty Corp. (NYSE American: GROY) ("Gold Royalty", the "Offeror", or the "Company") announced today that, further to its news release dated December 20, 2021, it has formally commenced its offer (the "Offer") to acquire all of the outstanding common shares (the "Elemental Shares") of Elemental Royalties Corp. (TSX-V: ELE) ("Elemental"), together with the associated rights (the "SRP Rights") under Elemental's shareholder rights plan dated December 30, 2021. The Offer is open for acceptance until 5:00 p.m. (Toronto time) on April 27, 2022. Subject to applicable securities laws, the deposit period may be extended, or in certain circumstances reduced, by Gold Royalty.
    The Consideration

    Under the terms of the Offer, Elemental shareholders will receive 0.27 common shares of Gold Royalty (the "Gold Royalty Shares") in exchange for each Elemental Share, together with the associated SRP Right. The Offer values Elemental at C$1.78 per share and represents a premium of 37% to Elemental shareholders based upon the closing prices of the Elemental Shares on the TSX Venture Exchange and the Gold Royalty Shares on the NYSE American on December 17, 2021, being the trading day immediately prior to the announcement on December 20, 2021 of Gold Royalty's intention to acquire Elemental. The Offer implies a total equity value for Elemental of approximately C$130 million on a fully diluted, in-the-money basis, and Elemental shareholders are expected to own approximately 12% of the combined entity upon completion of the transaction.
    https://www.newswire.ca/news-r…ties-corp--803396189.html

    Elemental Expects 40% Increase in Successive Quarterly Revenue from Flagship Royalty on Karlawinda Mine

    https://www.newsfilecorp.com/release/110924
    "The first quarter of steady state production clearly establishes Karlawinda as a low-cost gold mine in tier 1 Western Australia and early exploration success hints at the long-term potential," said Frederick Bell, CEO of Elemental. "While already running at guidance production rates after only 2 quarters, the addition of a third mining fleet and commissioning of two additional CIL tanks highlight the potential for the mine to outperform."
    REJECT the Hostile Bid
    As previously disclosed, the Board of Directors of Elemental, following input from its financial and legal advisors, announced its intention to recommend that shareholders REJECT the unsolicited all-share takeover bid from Gold Royalty, as proposed by Gold Royalty in its December 20, 2021 news release.
    Elemental believes its valuable Karlawinda royalty is one of many strong reasons for shareholders to reject the hostile takeover bid from Gold Royalty Corp. The estimated Karlawinda revenue of US$1.1 million for the quarter ended December 31, 2021 is equivalent to nearly six times the total revenue of US$191,991 disclosed by Gold Royalty for its entire fiscal year ended September 30, 2021. As noted above, Elemental also has five other royalties on producing assets.
    The Board is preparing a Directors' Circular with a full response to Gold Royalty's hostile bid. The Directors' Circular will be disclosed in due course. Elemental continues to advise shareholders to TAKE NO ACTION with regard to the Hostile Bid.


    [Blockierte Grafik: https://www.newsfilecorp.com/i…e/customer-logos/8358.jpg]



    Elemental Board of Directors Unanimously Recommends Shareholders Reject Gold Royalty's Hostile Bid
    https://www.newsfilecorp.com/release/111693


    Vancouver, British Columbia--(Newsfile Corp. - January 26, 2022) - Elemental Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental" or "the Company") today announced that the Board of Directors (the "Board"), following the unanimous recommendation of a special committee of independent directors (the "Special Committee"), has unanimously determined that the all-share hostile takeover bid (the "Hostile Bid") from Gold Royalty Corp. is not in the best interests of the Company or its shareholders ("Shareholders").
    The Board believes the Hostile Bid significantly undervalues Elemental's business and unanimously and unequivocally recommends that Shareholders REJECT the Hostile Bid and NOT TENDER their shares. The Board's determination followed careful consideration, including advice from its financial and legal advisors, and the recommendation of the Special Committee. Furthermore, a majority of Elemental shareholders communicated to the Company that they did not intend to accept the Hostile Bid.
    To reject the Hostile Bid, simply take NO ACTION. If Shareholders have tendered their shares and wish to withdraw them, simply ask your broker or contact Elemental's information agent, Morrow Sodali (see contact information below), to assist you with this process.
    "Gold Royalty's Hostile Bid is completely inadequate," confirmed Frederick Bell, CEO of Elemental. "The Board believes that Shareholders will be better off if Elemental continues to progress its business plan, or if a more attractive alternative surfaces from our review of strategic options."

    Elemental Royalties: Limited Upside From Current Levels

    https://seekingalpha.com/artic…-royalties-limited-upside
    Summary

    • Elemental Royalties is one of the best performing royalty/streaming companies following a hostile takeover offer from Gold Royalty Corporation.
    • Elemental Royalties has argued that the deal should be rejected, and when considering that this is an all-share deal and Gold Royalty Corporation remains overvalued, the recommendation makes sense.
    • However, with a very low likelihood of a second suitor coming over top or matching the deal, I don't see much upside case for Elemental.


    Elemental Royalties Announces 53% Increase in Revenue for Q4 2021
    Results Reinforce Recommendation to REJECT the Hostile Bid

    https://www.newsfilecorp.com/release/114407


    2021 Highlights

    • 2021 GEOs was near the upper end of Elemental's updated guidance of 3,400 to 3,800 GEOs
    • 2021 preliminary revenue exceeded the mid-point of updated guidance, which was a range of US$6.1 to US$6.8 million based on the above GEO guidance and an assumed US$1,800 per ounce average received gold price
    • Elemental completed the acquisition of a portfolio of precious metal royalties from a wholly owned subsidiary of South32 Limited
    • Capricorn Metals declared steady state operations at the Karlawinda mine, on time and on budget. Capricorn noted that Karlawinda is on track to achieve guidance of 110,000 to 120,000 ounces for the year ending June 30, 2022 that included commissioning. Elemental has a 2% net smelter return royalty on Karlawinda, a cash flow-producing asset
    • Endeavour Mining announced that it has established a target of discovering, by 2025, between 1.5 million and 2.0 million ounces of Indicated Resources at the Wahgnion mine with an exploration budget of US$9 million allocated for 2022. Elemental has a 1% net smelter return royalty on Wahgnion, a cash flow-producing asset
    • Austral Gold announced it discovered exciting new vein and breccia hosted gold mineralisation outside of the previously defined main vein and engaged SLR Consulting (Canada) Ltd to update the Mineral Resource and Mineral Reserve estimates at its Guanaco-Amancaya mine complex. Austral expects the updated report to be completed and filed during Q1 2022. Elemental has a 2.25% net smelter return royalty on Amancaya, a cash flow-producing asset
    • The commencement of high-grade gold production from the Tuart underground mine at Mount Pleasant, where Zijin Mining's fully owned subsidiary Norton Goldfields runs the Paddington Operation in Western Australia. Elemental has a 5% net profits interest or a royalty of AU$10/ounce on Mount Pleasant, a cash flow-producing asset
    • A major drilling campaign was launched at the 2.2 million ounce PGE Panton project in Western Australia. Panton is a cornerstone asset for recently listed Future Metals NL, who quickly announced the discovery of low-grade open pit potential mineralization immediately adjacent to the existing high-grade reefs. Elemental has a 0.5% net smelter return royalty on Panton, a feasibility-stage asset


    Elemental Royalties Announces Gold Stream Acquisition, Concurrent Equity Financing and 2022 Guidance

    https://ceo.ca/@newsfile/eleme…s-gold-stream-acquisition

    HIGHLIGHTS

    • Gold stream acquisition delivers immediate cash flow and uncapped long-term revenue potential from a Canadian mine with a long operating history and a track record of exploration success
    • Minimum gold deliveries to Elemental set at 1,200 ounces per year for the first three years
    • Financing, mostly with La Mancha, a new strategic investor, is at a 14% premium to the Hostile Bid1
    • 2022 guidance is an increase of between 54% and 81% in gold equivalent ounces compared with 2021 preliminary sales. The preliminary outlook is for further material growth in 2023
    • Seventh producing asset for Elemental, uniquely diversified cash flow amongst royalty peers


    Zitat von Centurion

    Mal sehen, was der gesteigerte Cashflow für die geplante Übernahme durch Gold Royalty bedeutet.


    Ob GROY aufgiebt, nachbessert, oder ob ein weiterer Bieter auftaucht? ?)

    Damit dürfte die Übernahme vom Tisch sein. Interessant ist die Beteiligung von La Mancha; sind sie doch auch an Altus Strategies signifikant beteiligt.

    Elemental Royalties Issues 2021 Financial Results: Record Annual Revenue Reinforces Recommendation to Reject the Hostile Bid

    https://www.newsfilecorp.com/release/118698
    Q4 2021 Financial Highlights

    • Record revenue of $2.3 million, a 59% increase on Q4 2020 and a 22% increase on Q3 2021
    • Record total attributable gold equivalent ounces2 of 1,294 ounces, a 66% increase on Q4 2020 and a 22% increase on Q3 2021
    • Adjusted EBITDA1 of $0.8 million

    FY 2021 Financial Highlights

    • Record revenue of $6.6 million, a 29% increase on 2020
    • Record total attributable gold equivalent ounces2 of 3,680 ounces, a 27% increase on 2020
    • Adjusted EBITDA1 of $3.2 million
    • Cash and cash equivalents of $6.1 million as of December 31, 2021

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