Elemental Altus Royalties / ELE (TSX.V)

    Elemental Royalties Provides Update on Its Royalty & Streaming Portfolio

    https://www.newsfilecorp.com/release/124095
    Vancouver, British Columbia--(Newsfile Corp. - May 16, 2022) - Elemental Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental" or "the Company") is pleased to provide an update regarding developments at several assets in its high-quality royalty and stream portfolio including producing assets Ming, Karlawinda, Wahgnion, and Amancaya.
    Highlights

    • Measured and Indicated Gold Resource increases by 20,000 ounces at Ming copper-gold mine
    • Reserve and Resource update at Karlawinda due to be published in H2 2022
    • Aggressive exploration continuing at Wahgnion with US$9 million committed for 2022
    • Updated Technical Report at Amancaya with maiden resources at Amarillo & Julia deposits
    • Focus Minerals reported an increased Resource at the Beasley Creek South deposit
    • Systematic exploration at Panton project with new Resource estimate expected in Q2 2022
    • Bear Creek Mining completes Mercedes Mine acquisition with first Elemental royalty due in Q3


    Elemental Royalties Announces Strong Revenue and Operating Cash Flow in Q1 2022 Results


    https://www.newsfilecorp.com/release/124615

    Asset Highlights

    • Announced acquisition of a 50% gold stream on Rambler Metal and Mining's Ming copper-gold mine in Newfoundland, Canada. The stream steps down to 35% of payable gold production after 10,000 ounces are delivered and then 25% once 15,000 ounces are delivered
    • First material revenue from Mount Pleasant royalty following start of mining at Tuart underground mine. Tuart forms part of Zijin Mining's Paddington Operation in Western Australia and is operated by fully owned subsidiary Norton Goldfields
    • Record quarterly gold production at Capricorn's Karlawinda mine alongside commencement of a 129 hole, 29,500 metre near-mine RC drill program
    • Wahgnion exploration comprising of 6,500 metres of drilling completed in Q1 with US$9 million budget allocated by operator Endeavour Mining for 2022
    • Increase in Indicated Resource at Focus Minerals' Beasley Creek South gold deposit
    • Positive results at Future Metals' Panton high-grade PGM resource in Western Australia demonstrate potential for new bulk mining model

    Financial Highlights

    • Quarterly revenue of US$2.2 million generated across five diversified royalties
    • Total of 1,147 attributable gold equivalent ounces (GEOs) sold at zero cash cost to the company
    • Operating cash flow inflow of US$1.2 million
    • Net loss of US$1.2 million
    • Adjusted EBITDA of US$1.0 million, refer to the "Non-IFRS Measures" section of the MD&A
    • Cash and cash equivalents of US$17.3 million prior to the acquisition of the Ming gold stream

    Outlook
    Elemental continues to expect a record 5,700 to 6,700 GEOs in 2022 from its existing portfolio, a gain of between 54% and 81% from 2021. GEOs are weighted towards the second half of the year, with the addition of the Ming gold stream from Q2 and the Mercedes royalty from Q3 further diversifying the revenue base.
    Approximately 95% of expected revenue is from gold and silver. At a US$1,800 per ounce average received gold price, this guidance would achieve revenue of approximately US$10 million to US$12 million in 2022.


    Elemental Royalties Corp Announces Recommended All-Share Merger of Equals


    https://www.accesswire.com/705…ll-Share-Merger-of-Equals

    The boards of Elemental Royalties Corp. (ELE.V) ("Elemental") and Altus Strategies plc (ALTS.V) ("Altus") are pleased to announce they have reached agreement on the terms and conditions of a recommended share-for-share merger of equals of Elemental and Altus with the entire issued and to be issued share capital of Altus being acquired by Elemental (the "Merger"). It is intended that the Merger will be implemented by way of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.


    Under the terms of the Merger, each Altus Shareholder will be entitled to receive: 0.5940 New Elemental Shares for each Altus Share


    The boards of Elemental and Altus believe that the Merger has compelling strategic logic and represents an attractive opportunity for both companies to create a global gold royalty company.


    The Elemental Directors and Altus Directors believe that the creation of the New Elemental Altus Group will deliver substantial benefits for all stakeholders of both Elemental and Altus, including:

    Background to and reasons for the Merger
    Substantial benefits for all Altus and Elemental stakeholders as a result of the creation of the New Elemental Altus Group
    The Elemental Directors and Altus Directors believe that the creation of the New Elemental Altus Group will deliver substantial benefits for all stakeholders of both Elemental and Altus, including:

    • Increased scale and diversification: a combined portfolio of 69 assets across 13 jurisdictions, concentrated in tier-1 mining jurisdictions, of which 11 are in production, and primarily focused on gold;
    • Transformed adjusted revenue profile: estimated combined adjusted 2022 revenue of the New Elemental Altus Group of US$19.6 million with significant near term growth potential from first expected revenue from Ming, Bonikro and Mercedes in 2022 estimated to lead to combined adjusted 2023 revenue of the New Elemental Altus Group of US$24.6 million, combined with opportunities to add further portfolio revenue and duration*;

    * see "Non-IFRS financial measures - (i) Adjusted Revenue" below. The sources and bases for the calculation of the estimated combined New Elemental Altus Group adjusted revenue for FY 2022 and 2023 are set out in Appendix 2.

    • Strengthened asset portfolio: centred around 3 cornerstone royalties, the majority of the New Elemental Altus Group's NAV will be based on producing assets, providing investors with exposure to the top line revenue of underlying assets (without direct exposure to the operating costs / capex of those assets and associated inflationary risks) while keeping long dated optionality from existing development pipeline and organic royalty generation portfolio;
    • Strong shareholder support: recognised strategic investors have supported the Merger, in La Mancha and Condire having provided shareholder irrevocable undertakings over 44.6 per cent. of Altus's issued share capital; and South32 and La Mancha having entered into voting and support agreements in respect of 25.96 per cent. of Elemental's issued share capital. Additionally, EuroPacific Asset Management and Adrian Day Asset Management have provided letters of intent to vote in favour of the Elemental Shareholder Resolution in respect of a further 10.42 per cent. of Elemental's issued share capital;
    • Enhanced capital markets profile: increased scale and liquidity for enhanced market relevance and financial flexibility and a lower cost of capital, with wider investor appeal, analyst coverage and M&A potential coming with a larger market capitalisation; providing the opportunity for a re-rating of the shares of the New Elemental Altus Group;
    • Complementary management skills: an experienced management team with Elemental's proven history of accretive royalty acquisitions being a natural fit to the disciplined royalty generation and royalty acquisition track record of Altus;
    • Potential cost synergies: opportunity to deliver cost efficiency synergies at the corporate level through simplification of operations and listings; and
    • Canadian tax election: the disposition of Altus Shares on the Merger by a Canadian resident holder will constitute a taxable disposition for purposes of the Income Tax Act (Canada) (the "Tax Act") resulting in the realisation of any accrued gain that the holder may have in the Altus Shares. Elemental will permit an 'eligible holder' to partially or fully defer a gain that would otherwise be realised, if any, by making a joint election with Elemental pursuant to section 85 of the Tax Act (in accordance with all applicable rules). An 'eligible holder' refers to (i) a person who is resident in Canada and not exempt from tax under Part I of the Tax Act or (ii) a 'Canadian partnership' no member of which is exempt from tax under Part I of the Tax Act.

    Key Highlights of the Merger
    Upon completion of the Merger, it is intended that:

    • An eight (8) member board will be constituted from a combination of existing directors from both Elemental and Altus (including four (4) Elemental representatives and four (4) Altus representatives);
    • Steven Poulton, current CEO of Altus, will be appointed as Executive Chair and Frederick Bell, current CEO of Elemental, will be appointed as Chief Executive Officer;
    • Martin Turenne, a current non-executive director of Elemental, will be appointed as Chair of the Audit Committee and Robert Milroy, a current non-executive director of Altus, will be appointed as Chair of the Compensation Committee;
    • After the Merger, Elemental will continue to be listed on TSX-V and will be headquartered in Vancouver, Canada and have teams located in Canada, the United Kingdom and Australia; and
    • Elemental's name will be changed to Elemental Altus Royalties Corp. shortly after Completion.




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    Elemental Royalties Notes First Gold Deliveries from Ming Stream and Mercedes Royalty Now Paying

    https://www.newsfilecorp.com/release/132139
    First Gold From Ming Mine:

    • First delivery of 408 gold ounces from the Ming Gold Stream from sales relating to Q2 2022, with gross value of approximately US$694,000 using a US$1,700/oz gold price
    • Rambler noted in its June 2022 and H1 2022 Operation Results announcement that "June as a month and Q2 2022 as a quarter have set new records for the Ming Mine" and "we are confident that we will be able to continue the improvement in performance though further optimisation"
    • Updated Reserve Statement due by the end of 2022 following the updated Resource statement released in May 2022

    In parallel, Elemental's 1% Net Smelter Return ("NSR") royalty on the Mercedes Gold Mine ("Mercedes") is now payable. Elemental acquired a 1% NSR royalty on the Mercedes gold-silver mine in July 2018, payable from the earlier of either a production threshold or July 28, 2022.


    Moin moin,


    da es ELE auf meine Watchlist geschafft hat - danke @Blue Horseshoe und @Sorgenfrei, schaue ich mir gerade die aktuelle Präsentation an.


    Ein Blick auf die Einzelteile zeigt potentielle Risiken.


    Was ist mit dem Kupferproduzenten CASERONES aus Chile. Wenn ich das richtig mitbekommen habe, hat CASERONES an fast alle Royaltys, die nicht bei drei auf dem Baum waren, Royaltys verkauft. Normalerweise
    erwarte ich bei einer produzierenden Kupfermine (+Molybdän), dass ein ordentlicher Gewinn übrig bleibt und man eher bestehende Royaltys zurück kauft. Mit 22% Anteil am aktiven Portfolio von Elementals sollte CASERONES eine tragende Säule sein. ?)


    Wahgnion in Burkina Faso sehe ich politisch als sehr riskant an, definitiv kein Standort für ein Investment. - 10%
    Bürgerkrieg = von den Saudis/Katar finanzierte Moslemgruppen verüben Anschläge und Überfälle, auch auf Goldminen. Transport von Personal und wertvollem Material nur per Hubschrauber sicher.


    Bonikro in Cote d'Ivoire ist ebenfalls in einem in Dollar überschuldeten Staat mit einer möglichen Hungersnot.
    Habe das irgendwie im Hinterkopf, muss ich mir allerdings noch genauer ansehen. 8%


    Letztlich kauft man das Management einer Firma. Sie sammeln fleißig und erfolgreich ein.
    Ich bin mir allerdings hinsichtlich des Risikobewusstseins in einer Welt, die dabei ist sich in zwei Blöcke zu spalten, nicht sicher.



    Die Pro forma Shareholding zeigt eine starke Investoren Gemeinschaft hinter dem Unternehmen, mit einer Beteiligung des Managements von 14%.


    Das prognostizierte Wachstum ist erfreulich.


    Ein kleiner Happen als Beimischung ist attraktiv. Schwanke noch zwischen MMX und ELE.
    ELE ist n. m. E. rein wirtschaftlich gesehen deutlich unterbewertet.



    Vielen Dank
    Vatapitta

    Moin @vatapitta


    bezüglich der Caserones Royalties: Diese Royalties wurden von externen Haltern an die Royalty Unternehmen EMX, Nomad, Altus... verkauft. Das heißt, die Produktionsfirma hat diese Royals jetzt nicht verkauft und Geld dafür erhalten. Das muss in einem sehr viel früherem Stadium passiert sein. Habe da keine genauen Angaben. Man kann da auch spekulieren, daß beim Verkauf der Liegenschaft Royalties kreiert wurden o.ä.


    Viele Grüße, S.

    Zitat von Sorgenfrei

    Moin @vatapitta


    bezüglich der Caserones Royalties: Diese Royalties wurden von externen Haltern an die Royalty Unternehmen EMX, Nomad, Altus... verkauft.

    Danke für die Info!


    Der Kupferpreis hat von seinem kürzlichen Rekordhoch kräftig abgegeben.
    Das könnte der Verkäufer antizipiert haben.


    Wie ist die Rendite auf die Kupfer Royalty von Caserones, wenn man den aktuellen Kupferpreis zu Grunde legt?



    LG Vatapitta

    Elemental Royalties Announces Q2 2022 Results


    https://www.newsfilecorp.com/release/133962



    Frederick Bell, CEO of Elemental commented:
    "The announcement of the merger-of-equals with Altus Strategies was a major milestone and post-quarter end we were delighted to receive overwhelming shareholder approval for the combination. It will deliver increased revenue, greater margins, enhanced scale and greatly expand the pipeline of development and exploration royalties going forward.
    At the start of the year, we had revenue from five producing assets and through the combination of the Altus portfolio, the completion of the Ming Gold Stream and the Mercedes royalty becoming payable from 28 July 2022, we will have royalties or streams over eleven producing assets, giving shareholders diversification and optionality over even more discovery potential."
    Asset Highlights

    • On April 4, 2022, the Company announced it had completed a gold purchase and sale agreement (the "Ming Gold Stream") with Rambler Metals and Mining Canada Limited, a wholly owned subsidiary of Rambler Metals and Mining PLC (AIM: RMM) ("Rambler"), the owner of the Ming Copper-Gold Mine in Newfoundland, Canada. Elemental will receive 50% of payable gold production from Ming until 10,000 ounces are delivered when the stream steps down to 35% of payable gold production and then 25% once 15,000 ounces are delivered
    • Subsequent to June 30, 2022, Elemental received its first deliveries of approximately 408 gold ounces from the Ming Gold Stream from sales relating to Q2 2022. This maiden gold delivery translates to a gross value of approximately US$734,000 at a US$1,800/oz gold price and sales will be reflected in the accounts for Q3
    • Capricorn confirmed that they had achieved record gold production in the June quarter, completing the first full year of operations at the Karlawinda Gold Project at the top end of their guidance for the year to June 2022 with annual production of 118,432 ounces at an AISC of A$1,112. Capricorn also announced Karlawinda guidance of 115,000 - 125,000 ounces for the year to June 2023
    • Capricorn also announced the completion of 18,308 metres (85 holes) of Resource infill and extension RC drilling of the planned 129 hole, 29,500 metre near-mine RC drill program. Results are planned to form part of an update to the Karlawinda Mineral Resource Estimate targeted for September 2022 and an Ore Reserve Estimate targeted for October 2022

    Financial Highlights

    • Quarterly revenue of US$2.1 million generated across five diversified royalties with the receipt of 408 gold ounces from the Ming Gold Stream subsequent to quarter end
    • Total of 1,138 attributable gold equivalent ounces (GEOs) sold at zero cash cost to the company
    • Net loss of US$2.4 million, including significant one-off costs driven by takeover bid defence and merger costs
    • Adjusted EBITDA of US$1.2 million, refer to the "Non-IFRS Measures" section of the MD&A
    • Cash and cash equivalents of US$5.7 million

    Corporate Update

    • On May 12, 2022, Elemental confirmed the Hostile Bid by Gold Royalty Corp had not been successful. Having failed to meet the statutory minimum tender condition, Gold Royalty Corp allowed the Hostile Bid to expire
    • On June 14, 2022, the Company announced that it had reached agreement on the terms and conditions of a recommended share-for-share merger of equals of Elemental Royalties and Altus Strategies Plc with the entire issued and to be issued share capital of Altus being acquired by Elemental (the "Merger"). Under the terms of the Merger, each Altus Shareholder will be entitled to receive: 0.5940 New Elemental Shares for each Altus Share. This exchange ratio (the "Exchange Ratio") has been agreed between the boards of Elemental and Altus taking into account the relative market capitalizations of both companies. Upon completion of the Merger, Elemental Shareholders will own approximately 52.9% and Altus Shareholders will own approximately 47.1% of the total issued share capital of the New Elemental Altus Group.


    Elemental Royalties and Altus Strategies Complete Combination to Create a New Global Gold Royalty Champion


    https://www.newsfilecorp.com/release/134054



    Vancouver, British Columbia--(Newsfile Corp. - August 16, 2022) - Elemental Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental" or "the Company") is pleased to announce the completion of the previously announced share-for-share merger of equals (the "Merger") with Altus Strategies plc (AIM: ALS) (TSXV: ALTS) (OTCQX: ALTUF) ("Altus") to create a global gold royalty champion.
    The Merger has created a diversified and scalable royalty company well positioned to acquire further high-quality, producing royalty and streaming assets and to serve as a platform for further consolidation in the royalty sector.
    Elemental intends to change its name to 'Elemental Altus Royalties Corp.' and its trading symbol on the TSX-V will remain as ELE. On the OTCQX, the ticker remains ELEMF.
    Following the closing of the Merger, the combined company's board comprises the following eight directors: Steven Poulton (Executive Chairman), Frederick Bell (CEO), John Robins, Karim Nasr, Peter Williams, Martin Turenne, David Netherway, and Robert Milroy.
    Frederick Bell, CEO of the combined company, commented: "A key driver for this Merger was the complementary management skills and strategies of both companies. We will continue our focus of acquiring accretive, uncapped precious metals royalties with a combination of near-term revenue and long-life production. We would also like to express our gratitude to Simon Collins for his support and contribution as a director of Elemental and in the lead-up to the Merger."
    Steven Poulton, Executive Chair of the combined company, added: "Our increased scale will enhance our access to the highest-quality royalty arrangements and will provide a solid negotiating position to reduce our cost of capital. As we succeed, we will target medium-term capital distributions and further consolidation within the royalty industry."

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



    Elemental Royalties Announces Name Change to Elemental Altus Royalties Corp

    https://www.newsfilecorp.com/release/138071



    Vancouver, British Columbia--(Newsfile Corp. - September 22, 2022) - Elemental Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) is pleased to announce that it is changing its name to "Elemental Altus Royalties
    Corp." ("Elemental Altus" or the "Company"). The name change follows the completion of the Company's share-for-share merger of equals with Altus Strategies plc, announced on August 16, 2022, and was overwhelmingly approved by the Company's shareholders at the Company's Annual General and Special Meeting held on August 8, 2022.
    The name change is expected to become effective on or about September 26, 2022, subject to final approval from the TSX Venture Exchange ("TSX-V").
    The Company's trading symbol on the TSX-V will remain unchanged as "ELE". On the OTCQX, the Company's ticker remains unchanged as "ELEMF". Following the name change, the new CUSIP number assigned to the Company's common shares will be 28619K109 and the new ISIN number will be CA28619K1093.



    Elemental Altus Divests Copper Subsidiary, Generates 16 New Royalties
    https://www.newsfilecorp.com/release/141866
    Vancouver, British Columbia--(Newsfile Corp. - October 25, 2022) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or "the Company") announces the completion of the vend-out ("Transaction") of its 100% owned Morocco-focused copper subsidiary Aterian Resources Ltd ("Aterian") to Eastinco Mining and Exploration plc ("Eastinco"). Aterian owns a 100% interest in 15 prospective projects primarily targeting copper and silver covering 762km2 ("Projects").


    In consideration, Elemental Altus has received:

    • a 2.50% net smelter return ("NSR") royalty over each of the 15 Projects, with Eastinco retaining certain buyback rights of up to 1.0% of each NSR royalty for US$0.5 million per 0.5%
    • a 0.5% NSR royalty over Eastinco's Musasa tantalum operation in Rwanda
    • 241,173,523 shares in Eastinco representing 25% of the issued share capital of Eastinco valued at approximately £2,500,000 (approximately US$2,874,038) on Admission. The shares are subject to a customary 12-month lock in period and a further 12-month orderly market provision
    • five-year warrants to purchase up to an additional 10% of the enlarged share capital of Eastinco, with 50% of the warrants having an exercise price of £0.01 per share and the balance having an exercise price of £0.02 per share
    • Eastinco will reimburse the Company up to £250,000 (approximately US$287,404) in cash in respect of certain historic exploration expenditures

    Elemental Altus Royalties Announces Record Q3 2022 Results


    https://www.newsfilecorp.com/release/146146

    Highlights

    • Record Q3 Adjusted Revenue1 of US$3.4 million attributable to Elemental Altus, up approximately 81% from US$1.9 million a year earlier and up approximately 65% from Q2 2022
    • Including partial Altus Strategies plc ("Altus") revenue from August 16, this comprised:

      • US$2.1 million attributable royalty revenue
      • US$0.7 million streaming revenue
      • US$0.7 million attributable revenue1 on Caserones
    • Attributable guidance for 2022 updated to 6,400 to 7,000 GEOs, following completion of merger with Altus
    • Maiden royalty revenue from Mercedes gold mine (Mexico) and Bonikro gold mine (Cote d'Ivoire)
    • Maiden gold stream revenue from Ming mine (Newfoundland)
    • Significant Reserve and Resource increase at the Karlawinda gold mine (Australia)
    • Sixteen new royalties generated in Morocco through the divestment of assets to LSE listed Aterian Resources plc ("Aterian"), with US$2.9 million in Aterian equity also received
    • Cash and cash equivalents of US$11.2 million

    1: Please refer to the Non-IFRS Measures section at the end of this news release
    Frederick Bell, CEO of Elemental Altus, commented:
    "We are delighted with record revenues of US$3.4 million for the third quarter, with maiden receipts from our royalties on the Mercedes, Bonikro and Ming mines and despite Altus' assets only contributing to our attributable numbers from August 16.
    This revenue increase has contributed to our healthy cash balance of US$11.2 million at a time when we are simultaneously realising latent value through the royalty generation portfolio, as demonstrated by the deal with Aterian Resources."


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