10:57 AM EDT, 10/17/2024 (MT Newswires) -- Altius Minerals ( ATUSF ) was edging up early Thursday after saying it expects to report third quarter 2024 attributable royalty revenue of $16.6 million. This compares with $17.8 million royalty revenue last year, which included revenue from thermal (electrical) coal.

In summary, it sees base and battery metals (primarily copper) revenue of $5.42 million, up from $4.22 million last year, reflecting higher realized prices as well as higher copper stream deliveries from Chapada. The corporation's preliminary cost of sales for the quarter related to the Chapada copper stream, excluding any depletion, is $1.5 million.

It sees renewable energy royalty revenue of $3.45 million, up from $2.65 million, reflecting the continuing ramp up of operational stage portfolio projects and includes $0.6 million of investment income generated in its joint venture.

However, it forecast iron ore royalty revenue in the form of dividends from Labrador Iron Ore Royalty Corp. ( LIFZF ), which serves as a pass-through vehicle for royalty income and equity dividends related to operations of Iron Ore Company of Canada, of $2.62 million, down from $3.55 million.

It forecast potash portfolio revenue fell to $3.6 million, from $3.87 million.

Altius to did earn any royalty from thermal (electrical) coal in the quarter.

Altius was last seen up $0.16, to $26.71, on the Toronto Stock Exchange.

Price: 26.66, Change: +0.11, Percent Change: +0.41