Elemental Altus Royalties – Record Q1 2023 Financials And Royalty Partner Operations Review For Future Growth

Fred Bell, CEO of Elemental Altus Royalties (TSX.V:ELE – OTCQX:ELEMF) joins us to review the key record financial and operations metrics from Q1 2023, key royalty partner updates, and the growth strategies for 2023 and moving forward.


> First Quarter 2023 Financial Highlights:


  • Record revenue of $2.8 million, up 28% compared to Q1 2022
  • Record adjusted revenue of $3.8 million, up 74% compared to Q1 2022
  • Record Gold Equivalent Ounces (“GEOs”) of 2,016 ounces, up 76% compared to Q1 2022
  • Record adjusted EBITDA of $2.4 million, up 143% compared to Q1 2022



We review the importance of the cornerstone Casserones copper royalty in Chile, and the long mine-life expected from this project.  Fred outlined the growing revenues and significance of the Bonikro royalty, where at a gold price above US$1,450, the NSR royalty is at an effective rate of 2.25%. In Q1 2023 Bonikro attributable GEOs were up 623% from Q4 2022 as Allied Gold ramps up to full production from the royalty area in H2 2023. For the Wahgnion royalty, the Q1 2023 attributable GEOs were up 23% relative to Q1 2022 primarily as a result of higher mill throughput. Production at Wahgnion is expected to be weighted towards the second half of the year as greater volumes of high grade ore are expected to be sourced from the Samavogo pits and the introduction of the high grade Stinger satellite pits is targeted for later in the year


If you have any follow up questions for Fred regarding Elemental Altus Royalties or the royalty sector please email us at and


  • In full disclosure, Shad is a shareholder of Elemental Altus Royalties



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