ALTIUS MINERALS CORP (OTCMKTS:ATUSF) has been in a strong downtrend over the last many weeks. The stock has been forming lower lows and lower highs indicative of the strong selling interest. The stock currently trades below all important daily moving averages, which is a negative. The strong selling momentum has meant that the stock has broken below important support zones, which is seen as a negative. The relative strength index has given a sell signal, which is a cause for concern for traders. Traders believe the stock could head to levels of $8.51 in the near term and would find resistance near the $9.16 level.
ALTIUS MINERALS CORP (OTCMKTS:ATUSF) announced financial results for the recently concluded quarter. Total assets of Altius increased to $453,363 during the quarter as compared to $355,891 of the previous quarter. When it comes to cash and cash equivalents, it managed to end the quarter with a total of $15,477.
The senior management team of Altius is delighted to see it reporting such good figures and hope that things will continue to fall in line over the coming quarters.
Insights of The Matter
It was no different quarter in terms of financial performance as Altius uplifted its numbers quite significantly. Revenues from interest & investments, and royalty accounted for $3,353 against $606 of the previous quarter. It executed joint venture transactions in the same quarter, which helped it generate over $3,343, against previous quarter’s $4,068. Despite such good performance in joint venture transactions, Altius ended the quarter with a net loss of $1,632 or $0.04 per diluted share.
It used $3,884 cash in financial activities and generated $3,341 from investing activities as compared to the same period in 2014 when it made $32,862 from financial activities and used $20,968 in investing activities.
Acquisition Transaction of CALLINAN ROYALTIES
During the same quarter, it acquired Callinan Royalties Corporation. The first announcement regarding this transaction was made by both the companies on March 5, 2015, saying that they had entered into a definitive agreement. According to this agreement, Altius would acquire all the outstanding shares of Callinan following a plan of arrangement.
Altius valued each share of Callinan at $2.27 (cash price of $0.203 per share + 0.163 of an Altius common stock). Under the revised arrangement, Altius paid total $ $9.431 million in cash and issued 7,573,297 common stocks to Callinan shareholders.
Both the firms look forward to touching newer heights and keeping all the shareholders informed about the future updates from time to time.