Altus Strategies PLC - mining royalties investor - Receives first pretax royalty payment of USD1.3 million from its 0.418% net smelter royalty interest on the Caserones copper mine in Chile, for second quarter production.
Payment exceeds expectations by 18%, reflecting a strong copper price during the period. Next royalty payment is expected in November for third quarter production.
"We are delighted to have received our first royalty income from our NSR royalty on the Caserones copper mine in Chile, having completed the final closing of the acquisition last month. The income is a landmark event for Altus, as we have now transitioned into a revenue generating business. The payment relates to the royalty for the second quarter of 2021 at Caserones and, given the strong copper prices during the period, the second quarter 2021 royalty payment was the highest quarterly royalty payment since production commenced at Caserones in 2015," says Chief Executive Steven Poulton.
Current stock price: 68.00 pence
Year-to-date change: down 12%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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