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Altius Reports Royalty Revenue of $17.5M and $66.9M for the Quarter and Year Ended December 31, 2018 and Provides Revenue Guidance for 2019 of $67-$72MAltius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) ("Altius" or the "Corporation") reports that it will release audited financial results for its three month and twelve month period ended December 31, 2018 on March 12, 2019 after the close of market, with a conference call to follow March 13, 2019 at 9:00 am ET. Altius expects to report attributable royalty revenue1 of approximately $17.5 million ($0.41 per share) for the fourth quarter of 2018, compared to $17.1 million ($0.40 per share) in Q3 2018 and to $13.7 million ($0.32 per share) in the two month period ended December 31, 2017, when Altius was transitioning to a December year end. Full year attributable royalty revenue is expected to be approximately $66.9 million ($1.56 per share) which compares to $46.7 million ($1.08 per share) during the abbreviated previous year comparable period.
The results, which are consistent with the mid range of guidance, were positively impacted by higher potash prices and production volumes and higher metallurgical coal volumes. These factors were negatively offset by the election of Labrador Iron Ore Royalty Corporation (LIORC) to withhold an unusual amount of its free cash flows from shareholder dividends during the second half of the year, and by lower base metal prices. Altius anticipates $67-72 million in attributable royalty revenue in 2019, which assumes current commodity prices and incorporates information received from mine operators with regards to expected production volumes where provided and assumptions based upon historical production rates and other publicly available information in other cases. At year end, the Corporation had approximately $28 million in cash, $115 million in debt, and $139 million in investments, which are primarily the position in LIORC and the junior equity portfolio as detailed in the press release dated January 10, 2019. More detail on royalty revenue, costs and outlook will be provided in the upcoming year end disclosure. Year End Financials Conference Call and Webcast Information: A conference call will be held on Wednesday, March 13, 2019, starting at 9:00 a.m. EST to further discuss the quarter and year end results and guidance for 2019. To participate in the conference call, use the following dial-in numbers or join the webcast on-line as detailed below.
Time: 9.00 a.m. EST on Wednesday, March 13, 2019 The call will be webcast and archived on the Corporation's website for a limited time. 1 Attributable royalty revenue is a non-IFRS measure and does not have any standardized meaning prescribed under IFRS. For a detailed description and examples of the reconciliation of this measure, please see the Corporation's MD&A disclosures for prior quarterly and annual reporting periods, which are available at http://altiusminerals.com/financial-statements
About Altius Altius has 42,851,726 common 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. Forward-Looking Information This news release contains forward-looking information. The statements are based on reasonable assumptions and expectations of management and Altius provides no assurance that actual events will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Mining exploration and development is an inherently risky business. In addition, factors that could cause actual events to differ materially from the forward-looking information stated herein include any factors which affect decisions to pursue mineral exploration on the relevant property and the ultimate exercise of option rights, which may include changes in market conditions, changes in metal prices, general economic and political conditions, environmental risks, and community and non-governmental actions. Such factors will also affect whether Altius will ultimately receive the benefits anticipated pursuant to relevant agreements. This list is not exhaustive of the factors that may affect any of the forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on forward-looking information. Altius does not undertake to update any forward-looking information contained herein except in accordance with securities regulation.
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