In addition, the Company notes that the mine operator is now forecasting a mine life of 28 years based on its most recent declaration of reserves, representing an 11 year (65%) increase to the previous mine life.
Highlights
Record quarterly income of
65% increase in mine life to 28 years (based on latest mine reserves only)
Increase in royalty income linked to strong copper prices in the period and higher production
Royalty provides Altus with direct exposure to robust outlook for copper demand and price
Altus continues to examine revenue generating royalty acquisition opportunities globally
'Royalties shelter investors from inflation in operational and capital costs, as well as limit exposure to falling commodity prices, which each impact a mine's profitability. They also contain embedded upside optionality which can add significant value at no cost to the royalty owner. This optionality is typically associated with mine life extensions, commodity price appreciation and production increases.
'The royalty we own on Caserones has delivered strong income to Altus of
About the
The Caserones mine is a large, open-pit copper-molybdenum porphyry deposit, located within a 17,000 hectare land package at an elevation of approximately 4,300m above sea level in the borough of
The mine has been in operation for five years, following a capital investment of approximately
Contact:
Tel: +44 (0) 1235 511 767
Email: info@altus-strategies.com
About
Cautionary Note Regarding Forward-Looking Statements
Certain information included in this announcement, including information relating to future financial or operating performance and other statements that express expectations or estimates future performance constitute 'forward-looking statements'. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors may include, without limitation, risks and hazards associated with mining at Caserones, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; differences in actual metal content or grade from that estimated by SCM; fluctuations in currency exchange rates, metal prices, and worldwide and Chilean economic activity; increases in operating, marketing and selling costs; adverse regulatory, political or economic developments in
The forward-looking statements contained in this announcement are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of Caserones by SCM consistent with past practice; the accuracy of public statements and disclosures made by SCM and
There can be no assurance that forward-looking statements will prove to be entirely accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this announcement and are not guarantees of future performance. The forward-looking statements contained in this announcement are expressly qualified in their entirety by this cautionary statement.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. The forward-looking statements contained in this announcement are made as at the date hereof and the Company assumes no obligation to publicly update or revise any forward-looking statements contained in any other announcements whether as a result of new information, future events or otherwise, except as required under applicable law or regulations.
Market Abuse Regulation Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of
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