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Altius March 10 , 2021 | St. John's , Newfoundland Altius Reports Annual Attributable Royalty Revenue of $ 67.5M And Adjusted Operating Cash Flow of $ 1.14 Per Share Altius Minerals Corporation ( TSX : ALS ; OTCQX : ATUSF ) ( " Altius " or the " Corporation " ) reports attributable royalty revenue ( 1 ) of $ 67.5 million ( $ 1.62 per share ( 1 ) ) for the year ended December 31 , 2020 which was down 14 % from royalty revenue of $ 78.1 million ( $ 1.83 per share ) reported in 2019 . Q4 2020 attributable royalty revenue was $ 21.9 million , up 26 % from its year ago comparable period and a new quarterly record . Adjusted EBITDA ( 1 ) for the year was $ 53.0 million or $ 1.27 per share , down 15 % from Adjusted EBITDA of $ 62.6 million ( $ 1.46 per share ( ¹ ) ) in 2019. The adjusted EBITDA margin for the year was 78 % , down slightly from 80 % in 2019 , consistent with lower total royalty revenue . Quarterly adjusted EBITDA of $ 17.6 million was up 29 % from its year ago comparable period of $ 13.6 million . Adjusted operating cash flow of $ 47.5 million or $ 1.14 per share increased by 8 % over 2019 despite the lower annual revenue , reflecting reduced general and administrative expenses , lower Chapada stream cost of sales and the timing of corporate tax instalment payments . Q4 adjusted operating cash flow of $ 13.5 million was up 43 % from the $ 9.4 million generated in Q4 2019 . Adjusted net earnings of $ 14.6 million or $ 0.35 per share ( 1 ) compare to $ 23.4 million or $ 0.55 per share in 2019 , with the main adjusting items for 2020 being non - cash based carrying value adjustments . Adjusted earnings of $ 7.4 million in Q4 2020 or $ 0.18 per share compares to $ 5.0 million or $ 0.12 per share in Q4 2019 . The full table reconciling adjusted net earnings per share to net earnings per share is included below . The project generation business contributed $ 6.7 million during the year from the sale of equity positions ( net of cash reinvestments ) . These net proceeds are not included in the adjusted operating cash flow amount reported above as these are classified under " Investing Activities " within the Corporation's consolidated statement of cash flows . Altius Minerals Corporation TSX : ALS | OTCQX : ATUSF