$ALS.TO

Update: Altius Hits Record High Following Royalty Investment in Coles Wind Project in Illinois

(Adding share price move in first paragraph and National Bank commentary from sixth paragraph)Altius Minerals (ALS.TO) hit a fresh record high on Monday after the company reported the closing of Great Bay Royalties (GBR)'s US$73 million royalty investment with Apex Clean Energy over the 311-megawatt Coles Wind project in Illinois.Construction of the project began in January and commercial operations are expected to begin in the second half of 2027.The investment was funded through a balance of GBR's cash on hand and new capital contributions from Altius Renewable Royalties (ARR) and Apollo. Altius provided about US$12.4 million to ARR to support its share of the GBR capital call contribution."We are pleased to once again provide support to Apex and to mark GBR's second construction stage royalty in MISO, further diversifying its portfolio of 14 operating royalties," Altus Chief Executive Officer Brian Dalton said."We also note the strong 20-year [power purchase agreement] that anchors Coles Wind and is reflective of the unprecedented level of demand for new, near-term deployable sources of electricity that is characterizing the current market," Dalton added.National Bank of Canada on Monday maintained its outperform rating and C$62.50 price target. The company's long-term outlook remains robust with several positive updates from the portfolio, including the ramp-up of production capacity at most of its potash royalties, resource update and advancement of the Sauva deposit at Chapada and advancement of Kami, the bank said."Our outperform rating is supported by the company's stable, long-life asset base, transitioning of the portfolio towards lower carbon-intensive commodities and leveraging in-house expertise to provide long-term exposure to future exploration success. We anticipate several positive updates from the portfolio, including resource update and advancement of the Sauva deposit at Chapada, advancement of Kami and growth from lithium/renewables business units," the bank said."Given that the current market conditions driving near-term support for many of the commodities within Altius's portfolio (including potash, where global supply shortages are expected to see strong support for production/royalty revenue), and a balance sheet supportive of increased activity on the company's NCIB, we currently base our target on a multiple of 1.6x NAV," it added.Price: $60.41, Change: $+2.18, Percent Change: +3.74%

Altius Reports Royalty Investment in Coles Wind Project in Illinois

Altius Minerals (ALS.TO) reported Monday the closing of Great Bay Royalties (GBR)'s US$73 million royalty investment with Apex Clean Energy over the 311-megawatt Coles Wind project in Illinois.Construction of the project began in January and commercial operations are expected to begin in the second half of 2027.The investment was funded through a balance of GBR's cash on hand and new capital contributions from Altius Renewable Royalties (ARR) and Apollo. Altius provided about US$12.4 million to ARR to support its share of the GBR capital call contribution."We are pleased to once again provide support to Apex and to mark GBR's second construction stage royalty in MISO, further diversifying its portfolio of 14 operating royalties," Altus Chief Executive Officer Brian Dalton said."We also note the strong 20-year [power purchase agreement] that anchors Coles Wind and is reflective of the unprecedented level of demand for new, near-term deployable sources of electricity that is characterizing the current market," Dalton added.

Altius Minerals to Join the S&P/TSX Composite Index; Shares up 3%

Altius Minerals' (ALS.TO) common shares will be added to the S&P/TSX Composite Index, effective prior to the open of trading on June 22, 2026, as disclosed by S&P Dow Jones Indices on June 5, 2026, the company said on Monday."Inclusion in Canada's premier market index, amongst a humbling list of Canada's strongest public companies, represents an honour for the entire team at Altius," said Brian Dalton, Chief Executive Officer. "It is certainly fair to say that this achievement was not on our list of goals when we established Altius 29 years ago as a junior capital pool company. We would like to offer a sincere thank you to our shareholders for their long-term support and encouragement while also pledging to continue to work hard to find ways to grow enduring value on your behalf."The company's shares were last seen up $1.70 at $57.08 on the Toronto Stock Exchange.Price: $57.15, Change: $+1.77, Percent Change: +3.20%

TNR Gold Closes a $4.2 Million Private Placement to Altius Resources

TNR Gold (TNR.V) on Monday said it closed a $4.2 million private placement of shares to Altius Resources (ALS.TO).TNR issued 23.5-million shares to Altius and granted it a right of first offer on the sale of TNR's 1.35% net smelter return royalty on the Mariana Lithium Project and 0.36% NSR on the Los Azules Copper Project, both in Argentina. Altius also has the right to participate in future private placements to maintain its pro rata ownership stake in TNR.Proceeds will be used for working capital purposes, including exploration on TNR's Shotgun Gold Project in Alaska, a statement said."Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders," said executive chair Kirill Klip.TNR shares were last seen down $0.005 to $0.25 on the TSX Venture Exchange.Price: $0.25, Change: $-0.01, Percent Change: -1.96%

BMO Lifts Altius Minerals Price Target to $44.00 from $43.00

BMO Capital Markets on Wednesday reiterated its market-perform rating on the shares of Altius Minerals (ALS.TO) while raising its price target to $44.00 from $43.00 after the company reported expected first-quarter royalty revenue.Altius' attributable royalty revenue in the first quarter slightly beat BMO's estimates. Base metals were a bit ahead, offset by weaker results in potash and electricity, BMO said.The company's lithium results were stronger but BMO said it only incorporated the post-transaction closure revenue into its estimates.Altius is expected to release its full first-quarter results after market close on May 12.Price: $51.77, Change: $+1.30, Percent Change: +2.58%

Altius Minerals Price Target Raised to $52 at Raymond James

Raymond James raised its price target on Altius Minerals Corp. (ALS.TO) to $52 from $48.Analyst Brian MacArthur maintained an Outperform rating on shares of the Canadian diversified mining and metals royalty company ahead of its Q1 results on May 12."ALS expects to report 1Q26 attributable royalty revenue of about $26.4 Million compared to $15.0 Million in 1Q25," MacArthur said in a note to clients."Of note base metal revenue of $9.1 Million for the quarter reflects higher realized copper prices and the timing of copper stream deliveries from Chapada, as well as higher Voisey's Bay revenue while increased lithium revenue of $5.4 Million reflects the acquisition of Lithium Royalty Corp," the analyst said.

Altius Minerals Expects YoY Increase in Q1 Attributable Royalty Revenue

Altius Minerals (ALS.TO) said Tuesday that it expects a year-on-year increase in attributable royalty revenue for the first quarter.The company estimated its ARR to reach C$26.4 million in the three months ended March 31, rising from $15.0 million in the year-ago period.This includes base metals revenue jumping to $9.1 million from $6.8 million a year earlier, reflecting higher realized copper prices and timing of copper stream deliveries from the Chapada mine, as well as higher revenue from the Voisey's Bay operation. Its preliminary cost of sales for the Chapada copper stream, excluding any depletion, was $2.5 million for Q1 2026.It also includes potash revenue increasing to $4.5 million from $3.9 million due to higher realized prices and lithium revenue surging to $5.4 million from $51,000 following its acquisition of Lithium Royalty.ALS cited iron ore royalty revenue in the form of dividends from Labrador Iron Ore Royalty (LIF.TO) of $1.6 million for the quarter, down from $1.9 million last year, but also said electricity royalty revenue totaled $3.6 million, increasing from $1.6 million.Shares in ALS were down $0.52 or 1% to $51.25 in Canada yesterday.

Altius Minerals Expects to Report Q1 2026 Attributable Royalty Revenue of Near $26.4M Compared to $15.0M in Q1 2025

Altius Minerals Provides Updates on Its Project-Generation Business, Investment Portfolio

Altius Minerals (ALS.TO) on Wednesday afternoon provided updates on its project-generation business activities and its junior-equities portfolio.The company said as of March 31, the market value of equities in its portfolio had grown to about $70 million from $49.3 million at the end of 2025. It also took part in funding rounds for three companies it already invests in, namely High Tide Resources, Perseverance Metals (PMI.V), and Sun Valley Minerals.The company also plans to invest $4.2 million in TNR Gold (TNR.V), pending TSXV approval. This would give Altius nearly a 10% ownership stake. TNR holds royalty interests in two mining projects in Argentina and as part of the deal, Altius would gain a "right of first offer."Separately, Orogen Royalties (OGN.V) and Altius, through their joint partnership, signed a binding letter of intent on March 2 with Toogood Gold related to a gold project in Nevada. To earn ownership of the Table Mountain project, Toogood will issue nearly 16.7 million shares to the partnership over two years. Altius and Orogen will keep a 3% net smelter return royalty subject to certain partial buydown provisions."As part of its project generation investment mandate Altius continues to evaluate potential exploration alliances and junior equity investment opportunities that support royalty creation across multiple jurisdictions," the company said.The company's shares closed up $0.49 to $52.07 on the Toronto Stock Exchange.