TIDMALS
RNS Number : 2263W
Altus Strategies PLC
16 August 2022
Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS)
OTCQX (ALTUF) / Sector: Mining
16 August 2022
Altus Strategies Plc
("Altus" or the "Company")
Quarterly Report and Financial Statements
Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF)
announces that it has published its unaudited financial results and
its Management's Discussion and Analysis for the three-month and
six-month periods ending 30 June 2022. These documents have been
posted on the Company's website at
www.altus-strategies.com/investors/financials/ and are also
available on SEDAR at www.sedar.com .
Steven Poulton, Chief Executive of Altus, commented:
"We are delighted to have announced our highly accretive
merger-of-equals with TSX-V listed Elemental Royalties. With
complementary teams, supportive shareholders, diversified revenues
and substantial royalty portfolios, the merger will forge a new and
rapidly growing global gold royalty champion. Scale and liquidity
are important considerations for investors. The enlarged entity is
expected to benefit from enhanced access to capital markets and to
high quality deal flow. I would like to thank shareholders for
their past and continued support."
HIGHLIGHTS
Highlights for the three months ended 30 June 2022 are as
follows:
Corporate highlights
-- Terms and conditions agreed of a recommended share-for-share
merger of equals (the " Merger ") between the Company and TSXV
listed Elemental Royalties Corp. (" Elemental ")
-- Under the terms of the Merger, each Altus shareholder will be
entitled to receive 0.5940 Elemental shares for each Ordinary Share
of Altus
-- Upon completion of the Merger, Elemental shareholders will
own approximately 52.9% and Altus shareholders will own
approximately 47.1% of the total issued share capital of the
combined company
-- Altus will de-list from AIM and TSX-V and Elemental intends
to change its name to Elemental Altus Royalties Corp. and continue
to trade on TSX-V under the symbol ELE
-- Completion of an agreement with AlphaStream Capital for the
sale of 30.1% interest in Alpha 3 SPV Ltd for US$5.3 million. Altus
and AlphaStream each now hold 50% of Alpha 3 which owns a portfolio
of 23 mining royalties in Australia acquired from Newcrest Mining
Ltd
Operational highlights
-- Discovery of multiple high grade gold prospects from
reconnaissance sampling across the Company's four projects in
Egypt
-- Award of two further gold exploration licences in Egypt
totalling 349km(2) under a competitive bid round taking total land
holding in Egypt to 1,914km(2)
-- Receipt of record quarterly royalty income of US$1.54 million
(before tax) for Q1 2022 from Caserones copper mine in Chile linked
to higher copper prices in the period as well as higher
production
-- Award of a ten year (renewable) mining licence at the Agdz
project in central Morocco covering an area of 34.36km(2) ,
representing the area of copper and silver mineralisation
discovered to date
-- Award of a four year (renewable) 'small scale' mining licence
at the Diba gold project in western Mali covering an area of
83.10km(2) , incorporating the Diba Deposit and other key
prospects
Financial highlights
-- Extension of the La Mancha loan facility to 31 December 2022
with annualised interest rate maintained at 10% plus the United
States Dollar (" USD ") London Inter-bank Offered Rate (" LIBOR
")
-- Cash balance of GBP6.9 million / C$10.8 million as at 30 June 2022
-- Cash outflow for operating activities of GBP1.4 million /
C$2.2 million for three months ending 30 June 2022
-- Listed equity holdings of GBP0.8 million / C$1.3 million as at 30 June 2022
Post-period end
-- Publication of an updated independent Mineral Resource
Estimate (" MRE ") and Preliminary Economic Assessment (" PEA ")
for the Diba & Lakanfla gold project in western Mali, showing
67% increase in the MRE in all categories and a US$150 million
after-tax Net Present Value (" NPV ") for the oxide portion of the
project
-- The Merger was approved by shareholders of Altus and
Elemental at respective general meetings held on 8 August 2022 and
by the High Court of Justice of England and Wales on 12 August
2022
ALTUS STRATEGIES PLC
INTERIM UNAUDITED FINANCIAL STATEMENTS
FOR THE THREE AND SIX MONTHSED 30 JUNE 2022
CONDENSED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE
LOSS
For the three For the six months
months ended 30 ended 30 June
June
2022 2021 2022 2021
Notes GBP'000 GBP'000 GBP'000 GBP'000
------------------------------ ------------ -------- --------- --- -------- ---------
Continuing operations
Revenue and costs recovered
from
joint venture partners 2 63 23 406 23
Depletion of royalty assets (191) - (191) -
Exploration costs expensed 3 (816) (559) (1,773) (1,346)
Administrative expenses 4 (337) (254) (693) (473)
Listing and acquisition
related costs 6 (464) (3) (478) (7)
Foreign exchange gains/(losses) 227 19 278 (10)
Share based payments (180) (316) (663) (615)
Profit/(loss) from operations (1,698) (1,090) (3,114) (2.438)
Interest receivable - 0 - 0
Interest payable (565) (1) (1,023) (2)
Other income/(costs) (1,578) (0) (2,143) -
Gain/(loss) on disposal 229 - 463 -
Fair value gain/(loss) on
investments (741) 76 (829) 95
Share of profit of investments
accounted for using the
equity method 7 428 - 428 -
-------- --------- -------- ---------
Profit/(loss) before taxation (3,925) (1,019) (6,218) (2,336)
Taxation - - - -
-------- --------- -------- ---------
Profit/(loss) for the year (3,925) (1,019) (6,218) (2,336)
======== ========= ======== =========
Other comprehensive income
Items that may be reclassified
to the income statement
in subsequent periods
Foreign currency translation
differences 71 - (135) -
-------- --------- -------- ---------
Total comprehensive
(expense)/income for the
year (3,854) (1,019) (6,353) (2,336)
======== ========= ======== =========
Profit/(loss) for the quarter
attributable to:
- Owners of the parent
company (3,924) (1,017) (6,217) (2,334)
- Non-controlling interest (1) (2) (1) (2)
-------- --------- -------- ---------
(3,925) (1,019) (6,218) (2,336)
-------- --------- -------- ---------
Total comprehensive profit/(loss)
for the quarter attributable
to:
- Owners of the parent
company (3,853) (1,017) (6,352) (2,334)
- Non-controlling interest (1) (2) (1) (2)
-------- --------- -------- ---------
(3,854) (1,019) (6,353) (2,336)
-------- --------- -------- ---------
Basic earnings per share
(pence) attributable to
the owners of the parent 15 (3.28) (1.26) (5.41) (3.08)
Diluted earnings per share
(pence) attributable to
the owners of the parent 15 (3.28) (1.26) (5.41) (3.08)
-------------------------------------- ---- -------- --------- --- -------- ---------
ALTUS STRATEGIES PLC
INTERIM UNAUDITED FINANCIAL STATEMENTS
FOR THE THREE AND SIX MONTHSED 30 JUNE 2022
CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL
POSITION
As at 30 As at 31
June December
2022 2021
Notes GBP'000 GBP'000
------------------------------- ------ --------- ----------
Non-current assets
Intangible assets 5 16,443 16,994
Property, plant and equipment 128 30
Leased assets 90 104
Investment in associate 7 23,688 25,367
Investments 8 840 1,721
--------- ----------
41,189 44,216
Current assets
Trade and other receivables 9 224 622
Held-for-sale assets 130 118
Cash and cash equivalents 6,884 6,355
--------- ----------
7,238 7,095
--------- ----------
Total assets 48,427 51,311
Current liabilities
Trade and other payables 10 (671) (986)
Borrowings 11 (21,462) (18,349)
Held-for-sale liabilities (34) (34)
Provisions (15) (15)
--------- ----------
(22,182) (19,384)
Non-current liabilities
Trade and other payables (73) (65)
--------- ----------
Total liabilities (22,255) (19,449)
--------- ----------
Net assets 26,172 31,862
========= ==========
Equity
Share capital 12 5,866 5,866
Share premium 12 37,556 37,556
Share based payment reserve 2,276 1,613
Other reserves 5,723 5,723
Other comprehensive income (58) -
Retained earnings (25,085) (18,791)
Total equity attributable
to owners of the parent 26,278 31,967
Non-controlling interest (106) (105)
Total equity 26,172 31,862
------------------------------- ------ --------- ----------
ALTUS STRATEGIES PLC
INTERIM UNAUDITED FINANCIAL STATEMENTS FOR THE THREE AND SIX
MONTHSED 30 JUNE 2022
CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN
EQUITY
Share
Share based Other
Share premium payment Other comprehensive Retained Total Non-controlling
capital account reserve reserves income earnings equity interest Total
Six months ended
30 June
2021 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------------ -------- -------- -------- --------- -------------- --------- -------- ---------------- --------
Balance at 1
January 2021 3,505 13,222 531 5,745 - (12,601) 10,402 (101) 10,301
-------- -------- -------- --------- -------------- --------- -------- ---------------- --------
Profit/(loss) for
the period - - - - - (2,334) (2,334) (2) (2,336)
Other
comprehensive
income
Foreign currency
translation
differences - - - - - - - - -
-------- -------- -------- --------- -------------- --------- -------- ---------------- --------
Total
comprehensive
income/(expense) - - - - - (2,334) (2,334) (2) (2,336)
-------- -------- -------- --------- -------------- --------- -------- ---------------- --------
Issue of shares 514 7,013 - - - - 7,527 - 7,527
Exercise of
warrants 1 20 - - - - 21 - 21
Share based
payment charge - - 615 - - - 615 - 615
-------- -------- -------- --------- -------------- --------- -------- ---------------- --------
Total
transactions
with
owners,
recognised
directly in
equity 515 7,033 615 - - - 8,163 - 8,163
-------- -------- -------- --------- -------------- --------- -------- ---------------- --------
Balance at 30
June 2021 4,019 20,255 1,146 5,745 - (14,935) 16,231 (103) 16,128
======== ======== ======== ========= ============== ========= ======== ================ ========
Three months
ended 30 June
2022
------------------ -------- -------- -------- --------- -------------- --------- -------- ---------------- --------
Balance at 1
January 2022 5,866 37,556 1,613 5,723 77 (18,868) 31,967 (105) 31,862
-------- -------- -------- --------- -------------- --------- -------- ---------------- --------
Profit/(loss) for
the period - - - - - (6,217) (6,217) (1) (6,218)
Other
comprehensive
income
Foreign currency
translation
differences - - - - (135) - (135) - (135)
-------- -------- -------- --------- -------------- --------- -------- ---------------- --------
Total
comprehensive
income/(expense) - - - - (135) (6,217) (6,352) (1) (6,353)
-------- -------- -------- --------- -------------- --------- -------- ---------------- --------
Share based
payment charge - - 663 - - - 663 - 663
Total
transactions
with
owners,
recognised
directly in
equity - - 663 - - - 663 - 633
-------- -------- -------- --------- -------------- --------- -------- ---------------- --------
Balance at 30
June 2022 5,866 37,556 2,276 5,723 (58) (25,085) 26,278 (106) 26,172
======== ======== ======== ========= ============== ========= ======== ================ ========
ALTUS STRATEGIES PLC
INTERIM UNAUDITED FINANCIAL STATEMENTS
FOR THE THREE AND SIX MONTHSED 30 JUNE 2022
CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS
Three months Six months
ended 30 June ended 30 June
2022 2021 2022 2021
GBP'000 GBP'000 GBP'000 GBP'000
--------------------------------------- -------- -------- -------- --------
Cash flows from operating
activities
Total comprehensive loss for
the period (3,854) (1,018) (6,353) (2,336)
Adjustments for:
Net interest (received)/paid - 1 - 2
Share based payments 180 316 663 615
Bad debt provision - - - 11
Depreciation of property, plant
and equipment 4 5 9 12
Gain/loss on disposal - - (251) -
Fair value (gain)/loss on investments 747 (73) 835 (96)
Share of profit of associate (428) - (428) -
Movements in working capital:
(Increase)/decrease in trade
and other receivables (15) (167) 387 (63)
Increase/(decrease) in trade
and other payables 1,893 (314) 2,819 (392)
Other working capital movements 33 - - -
-------- -------- -------- --------
Cash flows used in operating
activities (1,440) (1,251) (2,319) (2,246)
Investing activities
Purchase of intangible assets 190 (258) (2,820) (412)
Sale of intangible assets 3,959 - 3,959 -
Purchase of property plant
and equipment 78 (5) (93) (6)
Sale of subsidiary - - 12 -
Sale of investments 46 - 46 -
Distribution from associate 855 - 1,756 -
Net cash used in investing
activities 5,128 (263) 2,860 (418)
Financing activities
Proceeds from issue of shares - 4,918 - 7,548
Principal element of lease
payments (6) (5) (11) (10)
Interest element of lease payments - (1) (1) (2)
-------- -------- -------- --------
Net cash generated from financing
activities (6) 4,911 (12) 7,536
Net increase/decrease in cash
and cash equivalents 3,682 3,398 529 4,871
--------------------------------------- -------- -------- -------- --------
Cash and cash equivalents at
beginning of the period 3,202 7,411 6,355 5,937
Cash and cash equivalents
at the end of the period 6,884 10,809 6,884 10,809
--------------------------------------- -------- -------- -------- --------
Qualified Person
The technical disclosure in this regulatory announcement has
been approved by Steven Poulton, Chief Executive of Altus. A
graduate of the University of Southampton in Geology (Hons), he
also holds a Master's degree from the Camborne School of Mines
(Exeter University) in Mining Geology. He is a Fellow of the
Institute of Materials, Minerals and Mining and has over 20 years
of experience in mineral exploration and is a Qualified Person
under the AIM rules and NI 43-101.
For further information you are invited to visit the Company's
website www.altus-strategies.com or contact:
Altus Strategies Plc Tel: +44 (0) 1235 511 767
Steven Poulton, Chief Executive E-mail: info@altus-strategies.com
SP Angel Corporate Finance LLP (Nominated
Adviser) Tel: +44 (0) 20 3470 0470
Richard Morrison / Adam Cowl
SP Angel Corporate Finance LLP (Broker)
Grant Barker Tel: +44 (0) 20 3470 0471
Rob Rees Tel: +44 (0) 20 3470 0535
Shard Capital Partners LLP (Broker)
Isabella Pierre / Damon Heath Tel: +44 (0) 20 7186 9927
Yellow Jersey PR (Financial PR & IR) Tel: +44 (0) 20 3004 9512
Charles Goodwin / Henry Wilkinson E-mail: altus@yellowjerseypr.com
About Altus Strategies Plc
Altus Strategies plc (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF)
is an income generating mining royalty company, with a diversified
portfolio of production, pre-production and discovery stage assets.
The Company's differentiated approach of generating royalties on
its own discoveries in Africa and acquiring royalties globally
through financings and acquisitions with third parties has
attracted key institutional investor backing. Altus has established
a global portfolio comprising 33 royalty interests and 26 project
interests across nine countries and nine metals. The Company
engages constructively with all stakeholders, working diligently to
minimise its environmental impact and to promote positive economic
and social outcomes in the communities where it operates. For
further information, please visit www.altus-strategies.com .
Cautionary Note Regarding Forward-Looking Statements
Certain information included in this announcement, including
information relating to future financial or operating performance
and other statements that express the expectations of the Directors
or estimates of future performance constitute "forward-looking
statements". These statements address future events and conditions
and, as such, involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the statements.
Such factors include, without limitation, the completion of planned
expenditures, the ability to complete exploration programmes on
schedule and the success of exploration programmes. Readers are
cautioned not to place undue reliance on the forward-looking
information, which speak only as of the date of this announcement
and the forward-looking statements contained in this announcement
are expressly qualified in their entirety by this cautionary
statement.
Where the Company expresses or implies an expectation or belief
as to future events or results, such expectation or belief is based
on assumptions made in good faith and believed to have a reasonable
basis. The forward-looking statements contained in this
announcement are made as at the date hereof and the Company assumes
no obligation to publicly update or revise any forward-looking
information or any forward-looking statements contained in any
other announcements whether as a result of new information, future
events or otherwise, except as required under applicable law or
regulations.
TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organisation of Canada accepts responsibility for the
adequacy or accuracy of this release.
Market Abuse Regulation Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
**END**
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IR UNVVRUKUWAAR
(END) Dow Jones Newswires
August 16, 2022 12:04 ET (16:04 GMT)
Altus Strategies (LSE:ALS)
과거 데이터 주식 차트
부터 1월(1) 2025 으로 2월(2) 2025
Altus Strategies (LSE:ALS)
과거 데이터 주식 차트
부터 2월(2) 2024 으로 2월(2) 2025
