The following is a summary of the Altius Minerals Corporation (ATUSF) Q4 2023 Earnings Call Transcript:
Financial Performance:
Altius reported Q4 2023 royalty revenue of $16.0 million, down from $23.1 million in Q4 2022.
Full year 2023 royalty revenue was $73.9 million, a decrease from $103.5 million in 2022, primarily due to lower commodity prices and fewer revenue generators.
Q4 2023 adjusted operating cash flow decreased to $7.7m from $19.2m in Q4 2022.
The net loss for Q4 2023 was $2.2 million or $0.05 per share, compared to a net profit of $6.8m or $0.14 per share in Q4 2022.
The adjusted net earnings per share for 2023 were down at $0.24, compared to $0.74 in 2022.
Business Progress:
The renewable royalty revenue continues to develop due to new operating and development-stage royalties added in 2022.
Altius put $30m into a solar project in Texas, with revenue generation expected in Q4 2023.
A new debt financing option of $247m was secured in Q4 leading to an impressive liquidity of $107m at year-end.
Despite a decline in lithium prices causing mine closures and halted projects, future growth is expected from the base and battery metals segment.
There was successful production at the Grota do Cirilo lithium mine in Brazil, marking their first-ever direct lithium-based royalty revenue.
Expansion options for the Chapada copper and Voisey's Bay are being explored, with production expected to commence this year.
More details: ALTIUS MINERALS CORP IR
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