Press Release: 00-01
Date:
News Release: Ticker Symbol:
10-Sept 2015
16-01
ALS.TSX
ALTIUS MINERALS CORPORATION (TSX:ALS) REPORTS QUARTERLY ATTRIBUTABLE REVENUE OF $9,785,000 AND ADJUSTED EBITDA OF $7,141,000
St. John's - Altius Minerals Corporation ('Altius' or the 'Corporation') reports attributable revenue(1) of $9,785,000, adjusted EBITDA(1) of $7,141,000 and a net loss of $1,632,000 or ($0.04) per share for the quarter ended July 31, 2015 compared to attributable revenue(1) of $7,218,000, adjusted EBITDA(2) of $5,061,000 and a net loss of $8,102,000 for same period last year. The current period results were positively affected by royalty revenues from Altius' newly acquired 777 royalty of $2,531,000 (as part of the May 2015 Callinan Royalties Corporation ('Callinan') Plan of Arrangement) as well as Prairie Royalties and Voisey's Bay of $5,753,000 and $677,000 respectively. Revenues were offset by severance costs of $1,300,000 directly related to the acquisition of Callinan and some other non-cash charges such as amortization of royalty interests of $1,827,000.
Altius' CFO Ben Lewis commented, 'We are pleased to see continued strong revenues across the royalty portfolio in spite of this very challenging resources market. With the addition of the 777 royalty to our portfolio, we now have 13 producing high quality, Canadian based royalties that cover a broad spectrum of commodities. In addition, approximately 37% of our royalty revenue is based on an inflation-indexed x tonnage multiplier, and is therefore insulated from the commodity price turmoil that we are currently experiencing. We continue to evaluate growth opportunities that this cyclical sector is presenting.'
A summary of the financial results is included in the following table.
For th e 3 m on th s e n de d, Ju l y 31,
|
2015
$
|
2014
$
|
Royalt y revenue
777
Coal
P ot ash Voisey's Bay CDP
Int erest and invest ment
Ot her
|
2,531,000
4,253,000
1,502,000
677,000
456,000
367,000
-
|
-
4,959,000
1,074,000
579,000
504,000
81,000
21,000
|
At t ribut able revenue (1)
|
9,786,000
|
7,218,000
|
Adjust ed EBIT DA (2)
Net loss at t ribut able t o common shareholders
Net loss per share basic and dilut ed
T ot al asset s
T ot al liabilit ies
Cash dividends declared & paid t o shareholders
|
7,141,000 (1,632,000)
(0.04)
453,769,000
103,475,000
1,198,000
|
5,061,000 (8,102,000)
(0.26)
439,590,000
141,320,000
Nil
|
|
Civic Address:
Altius Minerals Corporation
Suite 202, 66 Kenmount Road
St. John's, NL, A1B 3V7, CANADA
Website: www.altiusminerals.com
Toll Free: 1.877.576.2209
Fax: 709.576.3441
e-mail: [email protected]
Mailing Address: Altius Minerals Corporation P.O. Box 8263 Stn 'A'
St. John's, NL, A1B 3N4, CANADA
Date:
News Release: Ticker Symbol:
10-Sept 2015
16-01
ALS.TSX
Additional information on the Corporation's results of operations is included in the Corporation's MD&A, and Financial Statements, which were filed on SEDAR today and are also available on the Corporation's website at www.altiusminerals.com.
Non-IFRS Measures
Attributable revenue and adjusted EBITDA is intended to provide additional information only and do not have any standardized meaning prescribed under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these measures differently. For a reconciliation of these measures to various IFRS measures, please see below.
(1) Attributable revenue is defined by the Corporation as total revenue from the consolidated financial statements and the Corporation's proportionate share of gross revenue in the joint ventures. The Corporation's key decision makers use attributable royalty revenue and related attributable royalty expenses as a basis to evaluate the business performance. The attributable royalty revenue amounts, together with as amortization of royalty interests, general and administrative costs and mining tax, are not reported gross in the consolidated statement of earnings (loss) since the royalty revenues are being generated in a joint venture and IFRS 11 Joint Arrangements requires net reporting as an equity pick up. The reconciliation to IFRS reports the elimination of the attributable revenues and reconciles to the revenues recognized in the consolidated statements of earnings (loss).
(2) Adjusted EBITDA is defined by the Corporation as net earnings (loss) before taxes, amortization, interest, non-recurring items, non-cash amounts such as impairments, losses and gains, and share based compensation. The Corporation also adjusts earnings in joint ventures to reflect EBITDA on those assets which exclude amortization of royalty interests as well as adjusting for any one time items. Adjusted EBITDA is a useful measure of the performance of our business, especially for demonstrating the impact that EBITDA in joint ventures have on the overall business. Adjusted EBITDA identifies the cash generated in a given period that will be available to fund the Corporation's future operations, growth opportunities, shareholder dividends and to service debt obligations.
Reconciliations to IFRS measures
Attributable revenue
For th e 3 m on th s e n de d
Ju l y 31,
|
2015
$
|
2014
$
|
Royalt y revenue
777
Coal
P ot ash Voisey's Bay CDP
Int erest and invest ment
Ot her
|
2,531,000
4,252,000
1,502,000
677,000
456,000
366,000
-
|
-
4,958,000
1,074,000
579,000
504,000
81,000
21,000
|
At t ribut able revenue (1)
|
9,784,000
|
7,217,000
|
Adjust : joint vent ure revenue
|
(6,431,000)
|
(6,611,000)
|
IFRS revenue per consolidat ed financial st at ement s
|
3,353,000
|
606,000
|
|
Civic Address:
Altius Minerals Corporation
Suite 202, 66 Kenmount Road
St. John's, NL, A1B 3V7, CANADA
Website: www.altiusminerals.com
Toll Free: 1.877.576.2209
Fax: 709.576.3441
e-mail: [email protected]
Mailing Address: Altius Minerals Corporation P.O. Box 8263 Stn 'A'
St. John's, NL, A1B 3N4, CANADA
Date:
News Release: Ticker Symbol:
10-Sept 2015
16-01
ALS.TSX
For th e 3 m on th s e n de d Ju l y
Adjusted EBITDA 31,
|
2015
|
2014
|
(Loss) earnings before income t axes
Addback(deduct ): Amort izat ion
Explorat ion and evaluat ion asset s abandoned or impaired
Share based compensat ion (share set t led) Int erest on long-t erm debt
Loss (gain) on disposal of invest ment s & impairment recognit ion
Unrealized (gain) loss on fair value adjust ment of derivat ives
Dilut ion (gain) on issuance of shares by associat es Share of loss and impairment in associat es Earnings from joint vent ures
LNRLP EBIT DA
P rairie Royalt ies EBIT DA Callinan relat ed severance
|
(1,435)
1,836
342
180
1,447
62
-
-
590 (3,343)
542
5,620
1,300
|
(8,615)
55
-
-
2,892
722
1,299 (28)
6,541 (4,068)
463
5,800
-
|
Adjust ed EBIT DA
|
7,141
|
5,061
|
LNRLP EB ITDA
Revenue
Less: mining t axes
|
677 (135)
|
579 (116)
|
LNRLP Adjust ed EBIT DA
|
542
|
463
|
Prai ri e Royal ti e s EB ITDA
Revenue
Operat ing expenses
|
5,752 (132)
|
5,877 (77)
|
P rairie Royalt ies Adjust ed EBIT DA
|
5,620
|
5,800
|
|
About Altius
Altius is a diversified mining royalty company with royalty interests in 13 producing mines located in Canada. The royalty
interests include mining operations that produce thermal (electrical) and metallurgical coal, potash, nickel, copper, zinc, cobalt, gold and silver. Altius holds other significant pre-development stage royalties and its project generation pipeline contains a diversified portfolio of exploration stage projects and royalties, many of which are being advanced through various partner-funding arrangements.
Altius has 39,932,102 shares issued and outstanding that are listed on Canada's Toronto Stock Exchange. It is a member
of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
For further information, please contact Ben Lewis or Chad Wells at 1.877.576.2209.
Civic Address:
Altius Minerals Corporation
Suite 202, 66 Kenmount Road
St. John's, NL, A1B 3V7, CANADA
Website: www.altiusminerals.com
Toll Free: 1.877.576.2209
Fax: 709.576.3441
e-mail: [email protected]
Mailing Address: Altius Minerals Corporation P.O. Box 8263 Stn 'A'
St. John's, NL, A1B 3N4, CANADA