Altius Minerals Corporation (TSX: ALS) Reports Quarterly Attributable Revenue of $8,410,000 and Adjusted EBITDA of $6,403,000; Declares Quarterly Dividend
(firmenpresse) - ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 09/12/16 -- Altius Minerals Corporation ("Altius" or the "Corporation") (TSX: ALS) reports first quarter attributable revenue(1) of $8,410,000 or $0.19 per share and adjusted EBITDA(2) of $6,403,000 or $0.15 per share compared to attributable revenue of $9,785,000 or $0.25 per share and adjusted EBITDA of $6,094,000 or $0.15 per share for the prior year comparable period.
The decline in revenue was caused primarily by a lack of royalty payment from Voisey's Bay, weaker potash prices and lower volumes of electrical coal but offset by higher revenue from 777 and the beginning of payments from Chapada. Despite the lower revenue, adjusted EBITDA was higher because of one-time expenses related to the Callinan acquisition which were included in the prior year period.
Net earnings attributable to common shareholders of $3,049,000 or $0.07 per share for the three months ended July 31, 2016 compares to a net loss of $1,632,000 or $(0.04) per share for the same period last year. Current year earnings were positively affected by gains on sales of investments of $5,184,000 and were negatively affected by one-time financing charges on the retirement of debt of $ 1,874,000.
A summary of the financial results is included in the following table.
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 . A conference call will also be held to discuss the Q1F2017 financial results as detailed below.
Fiscal 2017 First Quarter Financials Call Information:
The call will be webcast and archived on the Corporation's website for a limited time.
The Corporation also wishes to confirm that its board of directors has declared a cash dividend on its common shares of three cents per common share to all shareholders of record at the close of business on October 6, 2016. The dividend is expected to be paid on or about October 20, 2016.
The declaration, timing, and payment of future dividends will largely depend on the Corporation's financial results as well as other factors. Dividends paid by Altius are eligible dividends for Canadian income tax purposes unless otherwise stated.
Altius also wishes to remind shareholders and investors of its Annual and Special Meeting to be held at 11 am tomorrow, Tuesday, September 13th at the Johnson Geocentre in St. John's, NL.
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.
Reconciliations to IFRS measures
About Altius
Altius' diversified royalties and streams generate revenue from 14 operating mines located in Canada and Brazil that produce copper, zinc, nickel, cobalt, precious metals, potash and thermal (electrical) and metallurgical coal. The portfolio also includes numerous pre-development stage royalties covering a wide spectrum of mineral commodities and jurisdictions. It also holds a large portfolio of exploration stage projects which it has generated for deal making with industry partners and which will result in third party funding, equity and minority interests and newly created royalty interests.
Altius has 43,425,624 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.
Contacts:
Ben Lewis or Chad Wells
1.877.576.2209
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Datum: 12.09.2016 - 20:38 Uhr
Sprache: Deutsch
News-ID 494247
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ST. JOHN'S, NEWFOUNDLAND AND LABRADOR
Kategorie:
Mining & Metals
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