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Altius sets date to release of 2Q18 financial results

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Global Mining Review,

Altius Minerals Corporation has reported that it will release the financial results for its 2Q18 on 8 August 2018 after the close of market.

The 2Q18 results for the period ended 30 June 2018 will be presented in comparison with the three month period ended 31 July 2017 as a result of the recent conversion to a calendar year end.

Altius expects to report attributable royalty revenue of approximately US$16.5 million, or US$0.38 per share, for the three month period ended 30 June 2018, which is 9.6% higher compared with US$15.1 million, or US$0.35 per share, reported in the quarter ended 30 July 2017. It is also 4.7% higher than 1Q18 revenue of US$15.8 million, or US$0.37 per share.

The second quarter results showed year over year growth in base metals and potash and declines in iron ore and thermal coal. Royalty revenues benefited particularly from strong production volume results at Chapada, higher potash prices and the integration of additional potash royalties that were acquired late the first quarter. Labrador Iron Ore Royalty Corp. paid a significantly lower dividend, as the Iron Ore Company of Canada was impacted for most of the quarter by a labour disruption that has since been resolved. Thermal coal revenues were slightly lower as a result of mine sequencing at Sheerness and Highvale mines.

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