Elemental Altus to Acquire Further Royalty Interest Vancouver, British Columbia--(Newsfile Corp. - March 9, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or "the Company") announces that it has entered into a binding agreement (the "Agreement") to acquire an additional 0.025% effective net smelter return ("NSR") royalty (the "Royalty") on the producing Caserones Copper-Molybdenum mine ("Caserones"), located in the Atacama region of northern Chile, for consideration of approximately US$2M in cash (the "Acquisition"). Elemental Altus now holds an effective 0.443% NSR royalty on Caserones.
Acquisition Highlights
- Immediate revenue from additional uncapped royalty on the producing Caserones copper mine
- Acquisition increases the effective royalty held by the Company to 0.443% NSR
- Caserones is owned and operated by industry leader JX Nippon Metals and Mining ("JX Nippon")
- Bolsters the Company's existing diversified revenue base in leading mining jurisdictions
- Acquisition will be completed in combination with existing joint royalty holders
Frederick Bell, CEO of Elemental Altus, commented:
"We're delighted to add to our cornerstone, cash-paying Caserones copper royalty in Chile, further expanding our peer-leading revenue profile. Acquiring uncapped, revenue generating royalties on long life assets is central to our core philosophy and the Caserones mine, operated by industry leaders JX Nippon, will continue to add value for our shareholders over many years to come."
Elemental Altus to Acquire Further Royalty Interest on Caserones Copper Mine (newsfilecorp.com)