Elemental Royalties (TSE:ELE) has released an update.
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Elemental Altus Royalties Corp. has reported a significant increase in revenue and adjusted EBITDA in the first quarter of 2024, compared to the same quarter last year, with revenue up by 24% and EBITDA by 42%. The company is on track with its Diba gold royalty project, expecting to start mining in the second quarter of 2024, and is well-positioned for solid cash flow growth in line with production increases and operational synergies. Elemental Altus also highlights its strong commodity price exposure, particularly in gold and copper, which have recently surged near all-time highs, promising further financial success.
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