Elemental Altus Royalties Corp announces its operating and financial results for the first quarter ended March 31, 2023. First Quarter 2023 takeaways say,
1: Record revenue of $2.8 million, up 28% compared to Q1 2022
2: Record adjusted revenue of $3.8 million, up 74% compared to Q1 2022,
3: Record Gold Equivalent Ounces 2,016 ounces, up 76% compared to Q1 2022.
At the SKO Mine, Northern Star Resources Limited announced successful underground exploration drilling extending the Mutooroo ore zone at HBJ by more than 200 metres along strike. In addition, Northern Star announced a new high grade gold discovery displaying mineralised intercepts over a 500 metre strike length & AuTECO announced a 530,000 ounce (24%) increase to the Mineral Resource bringing the current Inferred Resource to 2.8Moz of gold at 7.2g/t.
Frederick Bell, CEO of Elemental Altus, commented, “We are very pleased with our strong start to the year, having delivered record attributable production and revenue, adding 19 uncapped royalties from First Mining and acquiring an additional NSR royalty at the Caserones copper mine in Chile, as well as on the Pickle Crow gold project in Canada.
The Company has remained very busy post-period, having completed more transactions in the first four months of 2023 than in the previous 18 months, setting a very positive trend for the remainder of 2023.”
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