Altus Strategies PLC - mining royalties investor - Expects to receive its first royalty income payment in September from its 0.418% net smelter return royalty interest on the Caserones copper mine in Chile.
The royalty receivable is expected to be in excess of USD1 million before tax for the quarter ended June 30. Due to strong copper prices during the period, the payment is expected to reflect the highest quarterly payment from the mine since production started in 2015.
"The payment will relate to the receivable royalty for the second quarter of 2021 and, being our first royalty income, will represent a landmark event for Altus. Given strong copper prices during the period, the royalty is expected to be the highest on record, since production commenced at Caserones in 2015. We expect demand for copper to remain strong in the years ahead, as the global economy seeks to decarbonise in parallel with continued infrastructure development, urbanisation and wealth creation in emerging markets," says Chief Executive Steven Poulton.
Current stock price: 72.95 pence
Year-to-date change: down 5.9%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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