- Gleason & Sons LLC increases its stake in Elemental Altus Royalties Corp. (OTCQX:ELEMF) by nearly one million shares.
- Elemental Altus reports debt elimination and record quarterly profits, with over $20 million in cash.
- Tether Investments becomes a major shareholder, positioning Elemental Altus for growth and consolidation.
Gleason & Sons LLC has strategically increased its investment in Elemental Altus Royalties Corp. (OTCQX:ELEMF) by acquiring nearly one million common shares through open market purchases. This move arrives as Elemental Altus has achieved significant operational milestones, including the elimination of all debt, posting its most profitable quarter ever, and securing a $50 million unused credit facility.
Elemental Altus now holds over $20 million in cash and has attracted Tether Investments as a new major shareholder. Gleason & Sons perceives Elemental Altus as significantly undervalued, presenting substantial opportunities for royalty acquisitions and potential industry consolidation. This investment aligns with Gleason & Sons' strategy of focusing on mining royalty companies, which offer reduced risk compared to direct mining investments and benefit from rising metals prices.
The company’s stable financial position, combined with a rally in gold prices, positions Elemental Altus for continued growth. The royalty model adopted by Elemental Altus is advantageous as it provides lower risk exposure and protection against higher operating, exploration, and capital costs at the underlying mines.
