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Y Altius November 10 , 2021 | St. John's , Newfoundland Altius Reports Q3 2021 Attributable Royalty Revenue of $ 20.8M Altius Minerals Corporation ( TSX : ALS ; OTCQX : ATUSF ) ( “ Altius " or the " Corporation " ) reports attributable royalty revenue ( ¹ , 2 ) of $ 20.8 million ( $ 0.50 per share ( 1,2 ) ) for the quarter ended September 30 , 2021. This is a 28 % increase from Q3 2020 royalty revenue of $ 16.2 million . On a year - to - date basis , attributable royalty revenue of $ 60.5 million is higher by 33 % compared to the $ 45.5 million reported for the nine months ended September 30 , 2020 . Adjusted EBITDA ( 1,2 ) for the quarter was $ 16.9 million or $ 0.41 per share ( 1,2 ) , which compares to adjusted EBITDA of $ 12.4 million or $ 0.30 per share ( 1,2 ) in Q3 2020. The adjusted EBITDA margin for the third quarter was 81 % . On a year - to - date basis , adjusted EBITDA of $ 49.2 million is up 40 % from the year - over - year comparable adjusted EBITDA of $ 35.2 million . Adjusted operating cash flow ( 1,2 ) of $ 18.9 million or $ 0.46 per share ( 1,2 ) compares to $ 7.3 million ( $ 0.18 per share ) in Q3 2020 , and is up significantly year over year as adjusted operating cash flow was impacted by higher royalty revenues and timing of working capital changes . On a year to - date basis , adjusted operating cash flow ( 1,2 ) of $ 33.5 million compares to $ 33.9 million for the nine month period ended September 30 2020 , which benefitted from lower cash tax installments as a result of flexibility granted by tax authorities due to Covid - 19 related economic concerns . Net earnings in Q3 2021 are $ 9.76 million or $ 0.24 per share , and on an adjusted basis ( 1,2 ) are $ 0.20 per share ( 1,2 ) compared to adjusted earnings of $ 3.6 million in Q3 2020 or $ 0.09 per share ( 1,2 ) . The main adjusting items in the current quarter on a pre - tax basis are realized gains of $ 3.4 million and a $ 2.2 million gain on disposal of mineral property . Offsetting adjustment items included a $ 2.3 million fair value of derivatives charge , foreign exchange loss of $ 0.7 million and expensed debt costs on refinancing of credit facilities of $ 0.7 million . Net earnings for the nine month period ended September 30 , 2021 is $ 36.1 million or $ 0.90 per share compared to net loss of $ 38.9 million or $ 0.94 per share in 2020. The full table reconciling adjusted net earnings per share to net earnings per share is included below in Note 2 . In addition , Project Generation equity portfolio net cash proceeds ( sales minus new investments ) were $ 9 million for Q3 2021 and $ 13 million for the nine - month period ended September 30 , 2021 . These proceeds are recorded as other comprehensive earnings in the Corporation's financial statements . Portfolio Performance Base and battery metals ( copper , nickel , lithium , zinc and cobalt ) revenue of $ 8.2 million accounted for 40 % of total attributable royalty revenue as compared to $ 8.7 million ( 43 % ) in the comparable 2020 period . Performance in the quarter was positively impacted by higher production volumes and revenues at Chapada , but this was offset by lower revenues from 777 on slightly lower throughput and from Voisey's Bay , as an annual maintenance shutdown impacted the Long Harbour processing facility . Altius Minerals Corporation TSX : ALS | OTCQX : ATUSF