Elemental Altus Royalties announces its operating and financial results for the three and six months ended June 30, 2025. Management Discussion and Analysis for the three and six months ended June 30, 2025. At the point, Frederick Bell, CEO of Elemental Altus, commented, “Elemental Altus has delivered another outstanding quarter, with adjusted revenue more than doubling to US$10.5 million, adjusted EBITDA up 155% to US$8.8 million GEOs increasing 73% year-on-year.
These results reflect the strength of our royalty portfolio, with stand-out contributions from Karlawinda, Korali-Sud, and Bonikro. Our financial position has never been stronger, with over US$27 million in cash at quarter end, a fully undrawn US$50 million credit facility, and record free cash flow generation.
In addition, the recent regulatory approval for the Karlawinda Expansion Project, targeting 150,000 ounces per year, will add a significant long-term boost to our uncapped 2% NSR royalty. With strong momentum across our assets, increasing gold price and the capacity to pursue new accretive deals, we are well placed to build on this record first half and deliver another exceptional year.”
Elemental Altus remains on track to meet record guidance of 11,600 to 13,200 GEOs, translating to increased record adjusted revenue of US$35 million to US$40 million, based on a gold price of US$3,000/oz. Production is anticipated to be weighted towards the first half of the year, driven by first gold sales from the Korali-Sud royalty.
This guidance represents a 38% increase in GEOs and 74% year-on-year increase in adjusted revenue at the mid-point of guidance, with full exposure to higher gold prices. Elemental Altus has a Normal Course Issuer Bid (“NCIB”) in place to purchase up to 12,288,129 common shares in the capital of the Company.
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