Altus Strategies Gains $1.7 Million in Royalties From Newcrest Portfolio in 1Q
05 April 2022 - 5:49PM
Dow Jones News
By Joe Hoppe
Altus Strategies PLC said Tuesday that it has received copper
and gold royalty revenues of $1.7 million in the first quarter
since acquiring a portfolio of royalties from Newcrest Mining
Ltd.
The mining company said its royalty acquisition strategy was
delivering significant returns since it embarked on the plan in
August last year, amid a continued strong demand for copper and
gold.
Altus paid a total of $24.0 million for Newcrest in February in
a joint acquisition with AlphaStream Ltd.
It now holds 33 separate royalty interests, including on four
producing mines, with a number of strategic royalty acquisitions
currently under review, the company said.
"Separately, our experienced technical teams are actively
advancing numerous prospective gold and base metal projects across
Africa as part of our high-impact 'boots on the ground' royalty
generation strategy," Chief Executive Steven Poulton said.
Shares at 0705 GMT were up 1.5 pence, or 2.8% at 55.0 pence.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
April 05, 2022 03:34 ET (07:34 GMT)
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