Northwire Canada EditionTuesday, November 10, 2026
Northwire
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Gold 4,114.50 +1.0% Silver 52.69 +1.4% Copper 6.38 +2.3% Oil 86.38 −4.9% Palladium 1,037.50 +2.0% HMMC 5.30 +2.7% EQX 17.02 +4.8% URE 1.13 +7.6% VRB 0.050 −9.1% GGO 1.22 +9.9% EFF 0.030 +0.0% AXO 1.07 +0.9% VGZ 4.01 +3.1% WGLD 0.120 +0.0% AAUC 33.15 +1.9% EDR 11.80 +6.7% CNRI 0.195 +0.0% STND 0.065 +8.3% SHL 0.375 +0.0% MAI 4.39 +3.0% GCN 0.030 +0.0% Gold 4,114.50 +1.0% Silver 52.69 +1.4% Copper 6.38 +2.3% Oil 86.38 −4.9% Palladium 1,037.50 +2.0% HMMC 5.30 +2.7% EQX 17.02 +4.8% URE 1.13 +7.6% VRB 0.050 −9.1% GGO 1.22 +9.9% EFF 0.030 +0.0% AXO 1.07 +0.9% VGZ 4.01 +3.1% WGLD 0.120 +0.0% AAUC 33.15 +1.9% EDR 11.80 +6.7% CNRI 0.195 +0.0% STND 0.065 +8.3% SHL 0.375 +0.0% MAI 4.39 +3.0% GCN 0.030 +0.0%
Earnings

Altius Reports 2025 Attributable Royalty Revenue of $69.9M and Adjusted Earnings(1) of $22.5M

Altius transforms into a lithium and gold powerhouse following $520M LRC acquisition and $375M royalty windfall

Executive Summary

The most recent news (March 10, 2026) reports full-year 2025 results, headlined by a massive jump in net earnings to $299.4 million (from $101.8 million in 2024). This was primarily driven by the strategic sale of a 1% NSR on the Arthur Gold project to Franco-Nevada for $375 million and the completion of the acquisition of Lithium Royalty Corp (LRC). Attributable royalty revenue rose to $69.9 million. The company ended the year with $294 million in cash, a staggering increase from $16 million at the end of 2024.

Material Impact

The impact is Material - Positive. Altius has successfully executed a "capital recycling" masterclass. By selling a portion of its Nevada gold royalty (retaining 0.5%), it funded the $520 million acquisition of LRC, effectively diversifying into the lithium sector without diluting shareholders significantly. - Liquidity Surge: The company’s cash position and total liquidity (approx. $540 million) provide a massive "war chest" for future M&A or aggressive share buybacks. - Strategic Pivot: The LRC acquisition adds 37 royalties, including 4 producing assets, positioning Altius as a major player in the energy transition. - Earnings Quality: While net earnings were inflated by one-time gains ($374.5M), Adjusted EBITDA grew to $45.8 million, showing the underlying royalty portfolio remains robust despite fluctuating commodity prices.

ALS · Price
Company Overview

Altius Minerals is a diversified royalty company with exposure to potash, iron ore, base metals, renewable energy, and now lithium. - Flagship Project (Legacy): Saskatchewan Potash royalties (Nutrien/Mosaic), providing stable, long-life inflation-protected cash flow. - Flagship Project (Growth): The Arthur Gold Project (formerly Silicon/Merlin) in Nevada. Altius retains a 0.5% NSR on a >16 Moz gold resource operated by AngloGold Ashanti. - New Pillar: The Lithium Royalty Corp portfolio, featuring 37 royalties across the Americas and Australia.

Read the original news release →

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