David Baker CFO of Elemental Altus Royalties (TSX.V:ELE) (OTCQX:ELEMF), joins me to review the key takeaways from the Q4 and full year 2024 financials, including record quarterly and annual revenues and cash flows, marking their seventh consecutive year of revenue growth. We also review the outlook for 2025, the addition of a new board member, and then dig into some updates for ongoing growth at key royalty partner operations.
Preliminary Financial Highlights for Q4 and Full Year 2024 Results:
- Record preliminary adjusted 2024 revenue of US$21.6 million (+21% vs 2023) comprised of:
- US$16.3 million attributable royalty revenue; and US$5.3 million attributable revenue from the Caserones copper mine
- Record preliminary adjusted Q4 revenue of US$6.8 million (+21% vs Q4 2023) comprised of:
- US$5.5 million attributable royalty revenue; and US$1.3 million attributable revenue from the Caserones copper mine
Dave breaks down the financial strength of the company, and the leverage of it’s balance sheet to rising production and revenues in a higher metals price environment. We also review the growth via per-share metrics in 2024, and in particular look ahead to full-year 2025 gold equivalent ounce growth to a projected record 11,600 – 13,200 GEOs, augmented now from Allied Gold’s Korali-Sud (formerly named Diba) asset, and the increased production from the assets acquired from AlphaStream Limited last year. He also highlighted with the roughly $6 million in cash on hand, the expected revenues over $30 million this year, a number of additional incoming one-off payments in H1, and the $50 million credit facility on hand, that the company is in a great position to keep reviewing acquisition transactions in the year to come.
Next we touched upon the recently announced addition to the Board of Directors, bringing in Sandeep Singh, who has extensive experience in the mining and royalty sector. Sandeep is currently President and CEO of Western Copper and Gold. Prior to this, he was President and CEO of Osisko Gold Royalties, where he successfully led its strategic turnaround, after having spent 15 years as an investment banker specializing in the North American metals and mining sector.
Wrapping up we cover some of the anticipated growth of the projects at their key cornerstone royalty assets: Caserones, Karlawinda, Korali-Sud, and Bonikro. Dave anticipates that all these assets are set to perform well and keep expanding and growing ounces and pounds in the year to come. The mission now for the team at Elemental Altus this year, now that the company has paid off all their remaining debt, is to keep looking for royalties on long-dated quality projects with quality partners where they can execute accretive transactions.
If you have any follow up questions for Dave regarding Elemental Altus Royalties, then please email them to me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Elemental Altus Royalties at the time of this recording.
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