Author Topic: ALS.TO - Altius Minerals  (Read 1931536 times)

Liberty

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Re: ALS.TO - Altius Minerals
« Reply #7360 on: June 03, 2020, 07:47:41 AM »
I'm actually impressed by how this stock never really goes anywhere. That's a lot more unlikely than either going down or up over time. It's like a weird case of financial homeostasis.


reader

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Re: ALS.TO - Altius Minerals
« Reply #7361 on: June 03, 2020, 09:27:45 AM »
Liberty,

You're the most prolific contributor on this thread, which is mostly dead and you're not even short AFAIK.
I think that's a bullish signal   :o

Liberty

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Re: ALS.TO - Altius Minerals
« Reply #7362 on: June 03, 2020, 12:20:41 PM »
Liberty,

You're the most prolific contributor on this thread, which is mostly dead and you're not even short AFAIK.
I think that's a bullish signal   :o

If I can make it move this easily, then I'm happy to help

cwericb

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Re: ALS.TO - Altius Minerals
« Reply #7363 on: June 03, 2020, 03:10:34 PM »
"I'm actually impressed by how this stock never really goes anywhere."

I'm not!

Then again I am somewhat embarrassed to admit that I am a shareholder.
Liberty if you can advance the share price significantly I might split my profits if there ever will be any. :'(
Politicians and diapers must be changed often, and for the same reason. - Mark Twain

Liberty

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Re: ALS.TO - Altius Minerals
« Reply #7364 on: June 04, 2020, 06:09:42 AM »
"I'm actually impressed by how this stock never really goes anywhere."

I'm not!

Then again I am somewhat embarrassed to admit that I am a shareholder.
Liberty if you can advance the share price significantly I might split my profits if there ever will be any. :'(

Sorry, my powers don't extend that far ¯\_(ツ)_/¯

reader

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Re: ALS.TO - Altius Minerals
« Reply #7365 on: June 04, 2020, 07:04:29 AM »
Not to downplay Liberty's stock-kinesis I was trying to pull the straw of the inverse correlation between the length of a thread to the underlying stock performance.





"I'm actually impressed by how this stock never really goes anywhere."

I'm not!

Then again I am somewhat embarrassed to admit that I am a shareholder.
Liberty if you can advance the share price significantly I might split my profits if there ever will be any. :'(

Sorry, my powers don't extend that far ¯\_(ツ)_/¯

omagh

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Re: ALS.TO - Altius Minerals
« Reply #7366 on: June 15, 2020, 09:38:19 AM »
Management should recognize there are few small cap investors sophisticated enough to appraise their assets. And, they should relax about that.

They should do exactly what they’re doing - seize this opportunity to buy back shares at a bargain.

Nobody (including Altius’s management) can accurately pinpoint Altius’s value.

BUT, we can very roughly and conservatively appraise SOME of Altius’s assets (and all liabilities) and decide to purchase based on a price we get excited about.

I break Altius’s valuation into categories like:

1. Easiest to appraise: cash and marketable securities (less LIORC)
2. Moderately difficult to appraise: mid-cycle free cash flow from royalties (including LIORC royalties)
3. Too hard to appraise: exploration projects

I put a pretty big discount on their equities and royalty cash streams depending on my level of confidence in my evaluation ability. I put a $0 value on exploration and hope to be pleasantly surprised to the tune of a few hundred million in the next decade or so.

I’m pretty conservative so I also called Altius’s investor relations and:

- asked about cash burn over the next two years (debt servicing, g&a, etc.)
- confirmed things like the coal royalties are fixed price and are for base load power.

After all that I assign a price to Altius that I would be excited to own it, and then set a trade trigger in my investment account. I never expect my triggers to hit, but it feels like Christmas morning when they do. After watching and reading Altius reports for 11 years, my triggers for Altius recently hit, and I’m thrilled about the prospect of following the company for years to come.

T3000...a model using FCF has a higher degree of certainty than a sum-of-the-parts model -- counting cash is easier and more certain than counting assets.  The art in the FCF model is determining a realistic rate of growth and their reinvestment runway.  The SOTP model is probably better for determining the liquidation value and modeling the downside risk.  Another FCF modelling risk for this royalty company is to separate out the return of capital from the return on capital.

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Re: ALS.TO - Altius Minerals
« Reply #7367 on: June 15, 2020, 12:13:28 PM »

PolarX Limited had held a webinar on the 11th

"the JORC resource grade at Zackly is 1.2% Copper and 2.0g/t Gold, with 14g/t Silver."

"PolarX intends to commence a ~3,000m (15‐20 shallow holes) drill program at Zackly East in July 2020, following up on the thick, high‐grade gold and copper mineralization intersected by drill holes ZX‐18020 (55m @ 2.8g/t Au + 0.6% Cu) and ZX‐18024 (47m @ 3.1g/t Au + 0.6% Cu)."

Forthcoming field season still possible with COVID-19 restrictions
Drilling of the high-grade Zackly East deposit (55m @ 2.8g/t Au + 0.6% Cu) to start in July
Extension of Mars porphyry Cu-Au discovery hole planned later in Q3
Multiple prospective partners undertaking due diligence for earn-in JV on Stellar porphyry project


https://bit.ly/2N1vaG8


Altius Royalty on core Stellar claim blocks:

2% NSR for precious metals
2% Gross value royalty on U3O8
1% NSR for other metals (including Cu)



reader

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Re: ALS.TO - Altius Minerals
« Reply #7368 on: July 09, 2020, 06:44:37 AM »

Copper and Iron ore are soaring, Altius  :o

On a more serious tone, Q2 PG update is out.


Altius Provides 2nd Quarter 2020 Project Generation Update
St. John’s - Altius Minerals Corporation (“Altius”) (ALS:TSX) (ATUSF: OTCQX) is pleased to provide an update on its Project Generation (“PG”) business activities and the performance of its related junior equities portfolio for the second quarter of 2020.

The market value of the junior equities portfolio was $48.4 million at June 30, 2020 compared to $34 million at March 31, 2020. The increase in the portfolio value during the quarter is consistent with the broader junior mining sector recovery following initial negative market impacts in the first quarter related to the COVID-19 pandemic. During the quarter, sales of equities generated $340,000 in cash proceeds, while new investments required cash of $324,700.  An updated list of the public equity holdings is posted to the Altius website at http://altiusminerals.com/projects/junior-equities.

Q2 2020 Portfolio Company and Project Updates

During the quarter the Company exchanged its 8.22 million common shares of Antler Gold Inc.  (TSXV: ANTL) in return for the 100% re-acquisition of the Wilding Lake gold project.  The Company has since executed a Letter of Intent for the sale of the project to a third party.

Adventus Mining Corporation (TSXV:ADZN) was very active during the quarter with commencement of a US$7 million exploration campaign on June 8, 2020 to include drilling of several targets at its Pijili, Santiago and Curipamba, projects in Ecuador - http://adventusmining.com/news/122545.  Altius retains a 2% NSR on the Curipamba project.

Alderon Iron Ore Corp. (TSX:IRON) (“Alderon”) announced that it had defaulted on a US$14 million secured loan as well as the resignation of its board of directors and management group.   On June 17th the Newfoundland and Labrador Supreme Court appointed Deloitte Restructuring Inc.  as receiver of Alderon and the Kami Mine Limited Partnership, with power to sell their assets and property.  Altius retains a 3% gross sales royalty which comprises an interest in land and follows the Kami project into the hands of any purchaser from the receiver. 

Evrim Resources Corp. (TSX-V: EVM) (“Evrim”) and Renaissance Gold Inc. (TSX-V:REN) (“Renaissance”) announced a proposed arrangement agreement on June 10th to combine in a merger-of-equals transaction.  Evrim will acquire all of the outstanding common shares of Renaissance in a share exchange transaction to create a new royalty and project generator company to be re-named Orogen Royalties - https://www.evrimresources.com/news/2020/evrim-resources-and-renaissance-gold-combine-to-form-new-royalty-prospect-generator-company/. Under the terms of the agreement, each Renaissance share will be exchanged for 1.2448 Evrim shares, which will result in Renaissance and Evrim shareholders each holding 50% of the issued and outstanding shares of Orogen. Altius will remain the largest shareholder of the combined entity at ~11%. Altius is pleased to see the formation of this unique organic royalty generation company.

On June 3rd Renaissance announced that AngloGold Ashanti NA had made the final payment of US$2,400,000 to acquire a 100% interest in the Silicon project, subject to Renaissance’s retention of a 1% NSR royalty on a defined area of interest including the Silicon project.  Altius also retains a 1.5% NSR royalty on the Silicon project.

AbraPlata Resource Corp. (TSXV:ABRA ) (“AbraPlata”) announced the recommencement of drilling at the Diablillos silver-gold project and also announced two sperate private placement financings in May and June raising aggregate gross proceeds of $7 million to fully fund its 2020 exploration plans. Altius is a substantial shareholder of AbraPlata through its participation in the joint venture company Mining Equity Fund.

Wolfden Resources Corporation (TSXV: WLF) (“Wolfden”) announced the commencement of a 5000 metre drilling program at its Pickett Mountain Project in Maine, USA that is designed to test new targets identified from recent exploration work that represent both potential extensions of its known high-grade polymetallic massive sulphide resource as well as distinct new target areas within the broader project area.   Altius holds a 1.35% GSR royalty with respect to the Pickett Mountain Project.


reader

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Re: ALS.TO - Altius Minerals
« Reply #7369 on: July 17, 2020, 01:27:18 PM »
Altius Reports Second Quarter 2020 Attributable Royalty Revenue of Approximately $13 million.

Brian Dalton, CEO, commented, "Perhaps the most positive thing I can say about Q2 is that it is behind us. While we all understand that the world is not yet done dealing with the health and economic impacts of the pandemic, and that uncertainty levels remain generally high, we are encouraged by the resilience being shown by our operators and the potential positive impact that expected widespread infrastructure-based economic stimulus will have on demand for many of our key commodity exposures. This has the potential to be particularly important to Altius given that much of this new investment is expected to be directed towards new infrastructure, supporting acceleration of the key sustainability based macro-transitions – transitions that Altius has been pro-actively and aggressively aligning its royalty portfolio exposure to for the past several years."




http://altiusminerals.com/storage/press-releases/2020-07-17-altius-q2-royalty-revenue-final-1594999112.pdf