Project Generation / Exploration
Altius has built a portfolio of directly and indirectly held junior resource investments that have been generated from founding stakes and earn-in option related payments through its joint venture strategy to advance projects as well as selective investing in other juniors employing a project generation and joint venture business model.
Altius' PG strategy is simple but requires a longer cyclically based strategy than most of our industry peers. We organically assemble and generate prospective geological real estate around the globe during periods of bear sentiment when capital for most is sparse, hence competition is light. To put this into perspective from 2012 to 2016 Altius assembled nearly 2 million of hectares of land in 9 different jurisdictions covering prospective terrains for copper, nickel, zinc, iron ore, coal, gold and even diamonds. When the market turned in 2017 Altius was poised to sell its portfolio of lands to juniors in return for equity stakes and underlying royalty interests. At December 31, 2024, the portfolio value stands at $60.4 million. Early in 2024 a decision was made to monetize certain liquid equities in the portfolio to fund an acceleration of purchases under Altius’s share buyback program and other investment opportunities, and as such $26.4 million in gross proceeds were generated. A total of $11.3 million was invested into additional purchases of Orogen (TSX-V:OGN) shares as well as modest amounts in other equities that resulted in net monetization of $15.1 million for the year, which is not included in the $60.4 million current portfolio value noted above. New equities are frequently being added to the portfolio to the portfolio primarily from vending of new projects generated by the PG group in exchange for equity stakes.
Project Generation Equity Portfolio*
As of December 31, 2024
| Symbol | Company | ALS >10% | ALS >20% | Royalty |
|---|---|---|---|---|
| CANX:V | CANEX METALS | Y | ||
| ROX:V | CANSTAR RESOURCES | Y | ||
| CTM:V | CANTERRA MINERALS | Y | ||
| CIA:T | CHAMPION IRON | Y | ||
| CRI:V | CHURCHILL RESOURCES | Y | ||
| GUG:V | GUNGNIR RESOURCES | Y | ||
| HTRC:CSE | HIGH TIDE RESOURCES | 13,427,507 | Y | |
| OGN:V | OROGEN | 39,557,961 | Y | |
| SAG:V | STERLING METALS | Y | ||
| SKP:V | STRIKEPOINT GOLD INC. | Y | ||
| TRU:V | TRU PRECIOUS METALS | Y | ||
| WLF:V | WOLFDEN RESOURCES | 19,706,000 | Y |
* Effective for the quarter ended March 2022 and going forward, we have aligned our disclosure in the table to show only positions where we retain a royalty, and positions where we own 10% or more are disclosed by the number of shares owned and also filed on SEDI.
More information on our producing and Project Generation royalties can be found on our filed MD&A reports.
