Elemental Altus Royalties / ELE (TSX.V)

    Elemental Altus Partners Egyptian Gold Assets for Cash and Royalties

    Elemental Altus Partners Egyptian Gold Assets for Cash and Royalties
    Vancouver, British Columbia--(Newsfile Corp. - August 28, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or...
    www.newsfilecorp.com

    Vancouver, British Columbia--(Newsfile Corp. - August 28, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or the "Company") announces the signing and completion of a subscription agreement ("Agreement") with In2Metals Explorer S.à r.l. ("In2Metals") in respect of Akh Gold Ltd. ("Akh Gold"). In2Metals is beneficially owned by the Egyptian Sawiris family who, through the Agreement, is underlining its commitment to invest directly and proactively into the development of Egypt's mining sector. In2metals is an affiliate of the Company's cornerstone shareholder La Mancha Investments S.à r.l. ("La Mancha").

    Under the Agreement In2Metals has acquired an 80.1% interest in and assumed management control of the Company's subsidiary Akh Gold, through the subscription for US$10 million in new Akh Gold shares ("Subscription") over a four year period (the "Transaction"). The proceeds from the Subscription will be applied to fund exploration of Akh Gold's projects in Egypt. Elemental Altus will receive US$1.5 million in cash pursuant to the Agreement, a 1.5% Net Smelter Return ("NSR") royalty across Akh Gold's current projects in Egypt and will retain a 19.9% equity interest in Akh Gold upon completion of the US$10 million Subscription, with pro rata co-funding rights thereafter.

    Highlights:

    • New royalties created in Egypt with US$10 million to be invested by In2Metals in Akh Gold
    • Elemental Altus to receive:
      • 1.5% NSR royalty on current licences and licence applications totalling 1,914km2
      • Cash of US$1.1 million on closing and US$0.4 million on or before August 30, 2024
      • Milestone payment of US$5 million on definition of a 3 million ounce resource
      • Rights to co-fund its 19.9% equity interest in Akh Gold following the Subscription
    • In2Metals selected following a competitive process with multiple potential counterparties
    • In2Metals is led by Gérard de Hert, the former SVP of Exploration for Endeavour Mining and is beneficially owned by the Sawiris family
    • The Sawiris family have a distinguished track record in telecoms, media, real estate and mining in Egypt and across Africa
    • Through Akh Gold, Elemental Altus established a portfolio of prospective targets in Egypt:
      • Channel sampling at the Wadi Dubur project includes 6.80 g/t Au over 18.0m
      • Wadi Dubur is located 35km west of the Sukari gold mine of Centamin Plc
      • Over 200 hard rock workings and 260km2 of alluvial workings mapped to date
    • Egyptian government recently announced a framework for future exploitation agreements

    Elemental Altus Notes Development Approval of Diba Project by Allied Gold

    Vancouver, British Columbia--(Newsfile Corp. - September 18, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or "the Company") notes that Allied Gold Corporation ("Allied Gold") has approved commencement of development work at the Diba gold project ("Diba"), which is contiguous with their flagship Sadiola gold mine in western Mali. Production at Diba is expected to commence in the first half of 2024 and the Company holds an initial 3% Net Smelter Return ("NSR") royalty, along with additional milestone payments.

    Highlights

    • New producing royalty expected in first half of 2024 from Diba gold project in western Mali
    • Diba is located approximately 15km from Allied Gold's flagship Sadiola Gold mine
    • Allied Gold has approved US$12 million of capital expenditure to fast-track development at Diba
    • Will represent material revenue growth with over 6,000 attributable Gold Equivalent Ounces ("GEOs") forecast over 2024-2025
    • Elemental Altus holds a 3% NSR royalty on the first 226,000 ounces produced from a defined resource and a 2% NSR uncapped royalty on all future production from 107km2 project area
    • The Company will also receive up to US$6 million in milestone payments that are anticipated to be paid in parallel with Diba royalty revenue
    • In July 2023, the Company announced the sale of Diba to Allied Gold which is still subject to close
    • Excellent potential for further expansion from existing resources and future exploration

    Elemental Altus Notes Development Approval of Diba Project by Allied Gold
    Vancouver, British Columbia--(Newsfile Corp. - September 18, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or...
    www.newsfilecorp.com

    Elemental Altus Completes Sale of Diba Gold Project in Mali to Allied Gold for Royalty and Milestone Payments

    Royalty Expected to Generate Material near Term Income

    Elemental Altus Completes Sale of Diba Gold Project in Mali to Allied Gold for Royalty and Milestone Payments
    Vancouver, British Columbia--(Newsfile Corp. - November 9, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or...
    www.newsfilecorp.com

    Elemental Altus Announces Director Change

    Vancouver, British Columbia--(Newsfile Corp. - December 27, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or "the Company") announces that after more than sixteen years of combined service Steven Poulton, the Company's Executive Chairman has advised the Company of his intention to retire from the board effective January 01, 2024.

    Mr. Poulton was the former Chief Executive and co-founder in 2007 of Altus Strategies plc, which merged with Elemental Royalties in 2022 to form the Company. The board would like to thank Mr Poulton for his invaluable contributions during his tenure and commends him for his unwavering service and dedication, as well as his longstanding support as a shareholder. Following his retirement from the board Mr Poulton will continue to be available as an independent consultant to the Company.

    Elemental Altus Announces Director Change
    Vancouver, British Columbia--(Newsfile Corp. - December 27, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or "the…
    www.newsfilecorp.com

    Elemental Altus Announces $12M in Payments from Ming Sale
    Vancouver, British Columbia--(Newsfile Corp. - February 20, 2024) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or...
    www.newsfilecorp.com


    Vancouver, British Columbia--(Newsfile Corp. - February 20, 2024) - Elemental Altus Royalties Corp. (ELE:CA) (OTCQX: ELEMF) ("Elemental Altus" or "the Company") announces that it expects to receive an initial US$12.1 million in cash and equity as a result of its secured creditor claim against Rambler Metals and Mining Limited in relation to the Company's Ming gold stream ("Ming stream").

    Highlights

    • The initial US$12.1 million relating to the Ming stream contributes to ~US$20 million in one-off payments the Company expects to receive from across the portfolio in 2024-2025
    • This total of ~US$20 million in one-off payments are in addition to the Company's upcoming 2024 royalty revenue guidance, which is expected to represent material growth from 2023
    • Elemental Altus received an initial US$2.3 million (A$3.5 million) in shares of Firefly Metals Ltd ("Firefly") (ASX: FFM) in February 2024
    • The Company will receive a further US$9.8 million (A$15 million) split equally between cash and equity in April 2025
    • Including US$0.5m in stream revenue received, the Company expects a minimum total return of US$12.6 million from the Ming Stream, compared to the 2022 acquisition for US$11 million
      • A further US$0.9 million (C$1.2 million) has been held back subject to final determinations, with any remaining balance to be paid to Elemental Altus in cash

    Frederick Bell, CEO of Elemental Altus commented:

    "The conclusion of the process relating to the Ming stream delivers certainty moving forwards as well as material funds to redeploy in a gold sector that is trading at multi-year lows. The diversified nature of our portfolio combined with the downside protection structured into the stream means that we will receive more than our investment even in a higher-risk, higher-reward scenario where our original thesis did not play out.

    Near term, Elemental Altus now expects to receive over US$60 million in combined Adjusted Revenue and milestone payments over 2024 and 2025. Combined with over US$10 million in cash and materially lower costs versus 2023, the Company is in the strongest financial position it has been in at a time when funding to the mining sector is near to cyclical lows.

    We look forward to releasing our 2024 guidance, which we expect to be another consecutive record, with higher revenue expected in particular from Ballarat and Bonikro as well as maiden production from Diba."

    Elemental Altus Notes Positive Updates at Key Growth Royalties and Grant of Options
    Vancouver, British Columbia--(Newsfile Corp. - February 29, 2024) -  Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or the...
    www.newsfilecorp.com


    Vancouver, British Columbia--(Newsfile Corp. - February 29, 2024) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or the "Company") provides a portfolio update following operator news releases covering key royalties held by the Company and details of the Company's Options and RSU Grant.

    Highlights

    • Lundin Mining Corporation ("Lundin Mining") announced on February 8, 2024, an increased Mineral Reserve and Mineral Resource Estimates for the Caserones Copper-Molybdenum Mine ("Caserones"), more than replacing depleted Mineral Reserves and increasing Mineral Resources in the Measured and Indicated category by over 1.1 million tonnes of contained copper, or an increase of more than 35%
      • Lundin Mining also recently announced its 2024 guidance of 120,000 to 130,000 tonnes copper for Caserones after excellent Q4 performance, including 35,400 tonnes of copper produced, the first full quarter under new operator Lundin Mining
    • Allied Gold Corporation ("Allied Gold") has recently provided production guidance for its operations. Elemental Altus' royalties on both Diba and Bonikro are expected to be catalysts for near term revenue growth in the royalty portfolio
      • First production at the Diba gold deposit in Mali is expected to commence during H1 2024. The project was sold by Elemental Altus to Allied Gold during 2023 for cash, a royalty, and a series of staged payments
      • Allied Gold recently defined an initial Mineral Reserve at Diba of 6.1 million tonnes at 1.43g/t for 280,000 ounces of gold and announced an approximately 70% increased Measured and Indicated Mineral Resource of 8.8 million tonnes @ 1.33g/t for 377,000 ounces of gold, inclusive of Mineral Reserves
      • At the Bonikro mine in Cote d'Ivoire, the majority of ongoing production is expected to come from Elemental Altus' royalty over the coming years. Allied Gold are targeting 95,000 to 105,000 of gold in 2024 and greater than 110,000 ounces per year long term
    • Arizona Sonoran Copper Company Inc. ("Arizona Sonoran") recently announced a Pre-Feasibility Study ("PFS") on their Cactus Mine Project, including for the first time the adjoining Parks/Salyer deposit
      • The PFS defines an open pit and underground, heap leach, solvent extraction / electrowinning operation, now incorporating the Parks/Salyer deposit, based on available conventional technologies to generate approximately 2.31 billion pounds of payable copper over 21 years
      • Additionally, Arizona Sonoran has entered into an equity and funding joint venture with Nuton LLC ("Nuton"), a wholly-owned subsidiary of Rio Tinto Group ("Rio Tinto") targeting the deployment of the Nuton heap leach treatment technology. A new PFS will be completed by the end of 2024 incorporating the Nuton technology


    Elemental Altus Royalties Announces Record First Quarter Revenue, by @newsfile
    Vancouver, British Columbia--(Newsfile Corp. - May 21, 2024) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or the "Company")…
    ceo.ca


    Highlights

    • Royalty revenue of US$3.3 million and adjusted revenue1 of US$4.7 million, up 24% on Q1 2023
    • Attributable Gold Equivalent Ounces1 ("GEOs") of 2,283 ounces, up 13% on Q1 2023
    • Operating Cash Flow plus Caserones dividends of US$1.2 million, compared with a loss in Q1 2023 and expected to grow through 2024 as margins increase
    • Adjusted EBITDA1 of US$3.2 million, up 42% on Q1 2023

    2024 Outlook

    • Diba remains on track to be the Company's newest producing gold royalty. Allied Gold Corp (TSX: AAUC) ("Allied") have announced that mining is expected to commence in Q2 2024
    • Elemental Altus on course to meet guidance of 10,000 to 11,700 GEOs as production increases over the year. This guidance represents at its midpoint a 19% increase on 2023 and provides top-line exposure to gold and copper prices
    • Repaid US$5 million debt in Q1 2024, leaving US$25 million undrawn on the credit facility and with approximately US$9 million cash on quarter end prior to Q1 royalty receipts. The Company intends to continue to reduce the amount drawn on the credit facility while maintaining financial flexibility to make new acquisitions
    • Falling G&A expenditure and significant expected cash flow generation following merger synergies and asset sales, which are also expected to generate milestone payments placing the company in a position to generate material cash flow

    Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or the "Company") announces continued progress at the Company's Diba royalty, further repayment of the Company's credit facility alongside its extension, portfolio payments relating to Ming and Egypt and the reduction in the number of the Company's outstanding common shares.


    Elemental Altus Royalties Provides Asset and Corporate Update, by @newsfile
    Vancouver, British Columbia--(Newsfile Corp. - July 4, 2024) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or the…
    ceo.ca

    Cornish Metals Announces Sale of Mactung and Cantung Royalties


    Elemental Altus Royalties to Acquire Strategic Tungsten Royalties, by @newsfile
    Vancouver, British Columbia--(Newsfile Corp. - July 22, 2024) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or the…
    ceo.ca

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