Elemental Altus Royalties Corp. (TSXV: ELE, OTCQX: ELEMF) has received a $9.6 million payment as part of a secured creditor claim related to its former Ming gold stream, strengthening the company’s financial position as it moves through 2025.
Elemental Altus’ latest inflow stems from its claim against Rambler Metals and Mining Canada Limited, a subsidiary of Rambler Metals and Mining PLC. This payment forms the majority of up to $15 million in one-off portfolio payments the company expects to collect this year. These portfolio payments are in addition to the company’s projected royalty revenue for 2025, which is forecast to fall between $30.1 million and $34.3 million, based on a gold price of $2,600 per ounce.
The company’s total expected revenue for 2025 is estimated at a minimum of $45 million, combining both royalty income and portfolio payments. This marks a new high in the company’s financial history and reflects the growing scale and diversification of its royalty portfolio.
The Ming gold stream has proven to be a lucrative investment for Elemental Altus. With the latest payment, the company’s total return from the Ming stream, including $500,000 in prior stream revenue, has reached approximately $12.8 million. This figure surpasses the original acquisition cost of $11 million paid in 2022, demonstrating the company’s ability to extract value from its strategic investments.
The payment comes after the Supreme Court of Newfoundland and Labrador approved the sale of the Rambler Group to FireFly Metals Ltd for up to A$65 million in September 2023. Following the acquisition, Elemental Altus exercised its right to submit a secured claim against the proceeds, resulting in the $9.6 million cash inflow and a total of about $12.3 million realized from the claim, with a final $100,000 expected.
Frederick Bell, CEO of Elemental Altus, emphasized the significance of the latest payment, noting that the company is now positioned in the strongest financial health in its history. Bell highlighted that the $9.6 million received forms the bulk of the anticipated $15 million in one-off portfolio payments for the year, which are incremental to the company’s record royalty revenue guidance.
The company’s strategy of combining recurring royalty streams with opportunistic portfolio payments is yielding tangible results. With a robust pipeline of royalty assets and a track record of value realization from secured claims and asset sales, Elemental Altus continues to expand its footprint in the mining royalty sector.
Elemental Altus’ financial momentum in 2025 is underpinned by a diversified portfolio and a disciplined approach to capital allocation. The company’s ability to generate both steady royalty income and opportunistic portfolio payments positions it to take advantage of further growth opportunities in the mining royalty space.