Altus Strategies plc announced it had received its first quarterly royalty payment of US$1.34 million ($943,322 after tax), from its 0.418% net smelter return royalty (NSR) interest on the Caserones copper mine in Chile.
GROWTH TRAJECTORY
The Caserones mine is a large open-pit deposit within 17,000 hectares approximately 4,300m above sea level in Tierra Amarilla, in the Atacama region of northern Chile.
Altus said that the payment for Q2 2021 exceeded expectations by 18% due to strong copper prices during the period.
The next Caserones NSR royalty payment is expected in November 2021 for Q3 production.
Chief executive Steven Poulton described the income a landmark as the company has made the transition into a revenue generating business.
“Altus is on a strong growth trajectory and has significant momentum.”