RE: RE: RE: Paul Van Eeden on BNNI love Altius more than any other stock but I have to disagree that they sidestepped a problem with NLRC. They wasted time, resources, and 30 to 50 million dollars. And they got sued! These are mining guys, what do they know about building a refinery? I think they pursued that project out of a sense of community pride, believing that it would help Newfoundland's economy. The oil shale project, which they recently wrote down 2 million dollars for, was also another failed energy project outside of their expertise. Stick with mining.
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Altius has some opportunities for buying royalties. Most of the other royalty companies are concentrated on gold and silver mines, which is actually a fairly limited universe. There are so many more base metal or bulk commodity companies seeking royalty financing.
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The only companies, that I can think of, competing with Altius for royalty financing in base/bulk commodities are Anglo-Pacific Group (mostly Australian coal, but also own iron ore, uranium, copper and gold royalties) and Sandstorm Metals (coal and oil royalties, so far).
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Anglo-Pacific in September bought a 1% royalty on a Brazilian iron mine hoping to produce from 4 to 6.5 million tonnes per year. This cost them 31 million dollars. Altius' 3% royalty on Alderon's planned 8 to 10 million tonnes per year production is probably worth $150 to $180 million dollars. With these heady valuations it's no wonder Altius hasn't bought any royalties yet. They'll concentrate on creating royalties until prices get cheaper.