- Elemental Altus Royalties press release (OTCQX:ELEMF): Q2 Revenue of $3.75M (+44.2% Y/Y).
- Operating Cash Flow plus Caserones dividends of US$1.4 million, down 33% on Q2 2023 primarily due to working capital movements
- Adjusted EBITDA of US$3.4 million, up 3% on Q2 2023
- Repayment of a further $5.0 million under the credit facility and extension of the maturity date to June 2027
- Cash balance of US$6.5 million and outstanding debt of US$20.0 million as at June 30, 2024
Outlook
Elemental Altus is on track to meet the lower end of guidance of 10,000 to 11,700 GEOs and the higher end of expected revenue of US$20.0 to US$23.3 million. Production remains weighted to H2 2024, particularly for the new Diba royalty, while the lower relative performance of the copper price to gold drives the increased difference between GEOs and revenue
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