Elemental Altus Royalties Corp announces 2023 production guidance of between 9,000 to 10,200 Gold Equivalent Ounces representing at its midpoint an approximate 65% increase on the 5,800 GEOs received in 2022. At a US$1,800 per ounce average realized gold price and US$3.75 per pound of copper, this guidance would provide the Company with 2023 revenue of approximately US$16.2 million to US$18.4 million1 with approximately 70% attributable to gold.
Frederick Bell, CEO of Elemental Altus, commented, “The strong growth in our guidance for 2023 maintains our track record of increasing guidance every year since 2018. Our diversified portfolio of producing royalties on high quality mines, with proven operators, provides a strong foundation to our further growth.
For 2023 we are projecting an approximate sixty five percent increase on the approximate 5,800 GEOs received in 2022. The increase is attributed to an uplift in GEOs expected from the Bonikro gold mine, along with incremental increases in production from the Karlawinda, Wahgnion, and Mercedes gold mines.”
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