Elemental Altus Royalties Management

Management criteria checks 1/4

We currently do not have sufficient information about the CEO.

Key information

Fred Bell

Chief executive officer

n/a

Total compensation

CEO salary percentage	n/a
CEO tenure	4yrs
CEO ownership	2.0%
Management average tenure	1.5yrs
Board average tenure	3yrs

Recent management updates

Recent updates

Returns On Capital At Elemental Royalties (CVE:ELE) Paint A Concerning Picture

Sep 03

We Think Elemental Royalties (CVE:ELE) Can Easily Afford To Drive Business Growth

May 08

Are Investors Undervaluing Elemental Royalties Corp. (CVE:ELE) By 47%?

Mar 16

CEO Compensation Analysis

How has Fred Bell's remuneration changed compared to Elemental Altus Royalties's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	-US$2m
Dec 31 2023	n/a	n/a	-US$3m
Sep 30 2023	n/a	n/a	-US$17m
Jun 30 2023	n/a	n/a	-US$18m
Mar 31 2023	n/a	n/a	-US$19m
Dec 31 2022	US$449k	US$340k	-US$18m
Sep 30 2022	n/a	n/a	-US$8m
Jun 30 2022	n/a	n/a	-US$6m
Mar 31 2022	n/a	n/a	-US$5m
Dec 31 2021	US$521k	US$312k	-US$5m
Sep 30 2021	n/a	n/a	-US$3m
Jun 30 2021	n/a	n/a	-US$4m
Mar 31 2021	n/a	n/a	-US$3m
Dec 31 2020	US$301k	US$176k	-US$3m
Sep 30 2020	n/a	n/a	-US$3m
Jun 30 2020	n/a	n/a	-US$1m
Mar 31 2020	n/a	n/a	-US$356k
Dec 31 2019	US$248k	US$101k	-US$82k
Dec 31 2018	US$159k	US$75k	-US$248k
Dec 31 2017	US$37k	US$37k	US$46k

Compensation vs Market: Insufficient data to establish whether Fred's total compensation is reasonable compared to companies of similar size in the Canadian market.

Compensation vs Earnings: Fred's compensation has been consistent with company performance over the past year.

CEO

Fred Bell

4yrs

Tenure

US$449,061

Compensation

Mr. Frederick Augustus Ronald Peter McMillan Bell, also known as Fred, serves as Chief Executive Officer and Executive Director of Elemental Altus Royalties Corp. (formerly known as Elemental Royalties Cor...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Frederick Augustus Ronald Peter Bell	CEO & Executive Director	4yrs	US$449.06k	1.97% $ 4.2m
David Baker	Chief Financial Officer	1.5yrs	US$192.17k	0.064% $ 136.9k
Richard Evans	Senior Vice President of Technical	less than a year	US$120.41k	no data
Alister Masterton-Hume	Executive Vice President of Business Development	no data	no data	no data
Lucas Claessens	Chief Geologist	1.5yrs	no data	no data
Bryan Pullman	Senior Vice President of Technical	less than a year	no data	no data

1.5yrs

Average Tenure

Experienced Management: ELE's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Frederick Augustus Ronald Peter Bell	CEO & Executive Director	4yrs	US$449.06k	1.97% $ 4.2m
David Netherway	Independent Non-Executive Director	1.9yrs	US$24.15k	0.75% $ 1.6m
John Robins	Non-Executive Independent Chair	4yrs	US$61.04k	1.55% $ 3.3m
Peter Williams	Non-Executive	4yrs	US$58.09k	1.67% $ 3.5m
Robert Milroy	Independent Non-Executive Director	1.9yrs	US$20.24k	0.18% $ 386.9k
Martin Turenne	Non-Executive	4yrs	US$82.17k	0.052% $ 111.3k
Marie Michel Benoit	Non Executive Director	less than a year	no data	no data
Jack Lunnon	Non Executive Director	less than a year	no data	no data

3.0yrs

Average Tenure

68yo

Average Age

Experienced Board: ELE's board of directors are not considered experienced ( 3 years average tenure), which suggests a new board.

Elemental Altus Royalties Management

Management criteria checks 1/4

Key information

Recent management updates

Elemental Altus Royalties Corp. Announces Resignation of Steven Poulton Executive Chairman, Effective January 01, 2024

Executive Chairman recently bought CA$58k worth of stock

Elemental Altus Royalties Corp., Annual General Meeting, Sep 07, 2023

Elemental Altus Royalties Corp. Announces Appointment of David Baker as Chief Financial Officer

Less than half of directors are independent

Less than half of directors are independent

Recent updates

First quarter 2024 earnings released: US$0.005 loss per share (vs US$0.009 loss in 1Q 2023)

Price target increased by 8.0% to CA$2.03

Full year 2023 earnings released: US$0.016 loss per share (vs US$0.17 loss in FY 2022)

Elemental Altus Royalties Corp. Provides Production Guidance for the Year 2024

Elemental Altus Royalties Corp. Announces Resignation of Steven Poulton Executive Chairman, Effective January 01, 2024

New major risk - Revenue and earnings growth

Third quarter 2023 earnings released: US$0.012 loss per share (vs US$0.028 loss in 3Q 2022)

New major risk - Financial position

Elemental Altus Royalties Corp. Notes Development Approval of Diba Project by Allied Gold

Executive Chairman recently bought CA$58k worth of stock

Second quarter 2023 earnings released: US$0.008 loss per share (vs US$0.03 loss in 2Q 2022)

Elemental Altus Royalties Corp. Affirms Production Guidance for the Year 2023

Elemental Altus Royalties Corp., Annual General Meeting, Sep 07, 2023

Full year 2022 earnings released: US$0.17 loss per share (vs US$0.071 loss in FY 2021)

Price target decreased by 10% to CA$1.89

Price target decreased by 9.4% to CA$2.02

Elemental Altus Royalties Corp. (TSXV:ELE) entered into a definitive agreement to acquire Non-Core Royalty Portfolio from First Mining Gold Corp. (TSX:FF) for CAD 6.7 million.

Elemental Altus Royalties Corp. Announces Appointment of David Baker as Chief Financial Officer

Elemental Altus Royalties Corp. announced that it has received CAD 5.082876 million in funding

Price target decreased to CA$2.02

Third quarter 2022 earnings released: US$0.028 loss per share (vs US$0.012 loss in 3Q 2021)

Now 21% undervalued

Less than half of directors are independent

Now 24% undervalued after recent price drop

Elemental Altus Royalties Corp. Notes Increase in Reserves and Resources At Karlawinda Gold Mine, Australia

Elemental Royalties Corp. (TSXV:ELE) completed the acquisition of Altus Strategies plc from Lmh Explorers S.A R.L., Condire Resource Master Partnership, LP managed by Condire Management, LP and others.

Second quarter 2022 earnings released: US$0.03 loss per share (vs US$0.017 loss in 2Q 2021)

Less than half of directors are independent

Elemental Royalties Corp. Approves the Election of Steven Poulton, Karim Nasr and David Netherway as Directors of Combined Company

Elemental Royalties Corp., Annual General Meeting, Aug 08, 2022

Elemental Royalties Corp. (TSXV:ELE) agreed to acquire Altus Strategies plc (AIM:ALS) from Lmh Explorers S.A R.L., Condire Resource Master Partnership, LP managed by Condire Management, LP and others for £60 million

Elemental Royalties Corp. (TSXV:ELE) agreed to acquire Altus Strategies plc (AIM:ALS) from Lmh Explorers S.A R.L., Condire Resource Master Partnership, LP managed by Condire Management, LP and others for £60 million

Elemental Royalties Corp. Provides an Update Regarding Developments At Several Assets in Its High-Quality Royalty and Stream Portfolio Including Producing Assets Ming, Karlawinda, Wahgnion, and Amancaya

Gold Royalty Corp. (NYSEAM:GROY) cancelled the acquisition of Elemental Royalties Corp. (TSXV:ELE).

Now 20% undervalued after recent price drop

High number of new and inexperienced directors

High number of new and inexperienced directors

Elemental Royalties Corp. announced that it has received CAD 14.00525 million in funding from La Mancha Holding S.a.r.l., Investment Arm, Euro Pacific Asset Management, LLC

Elemental Royalties Corp. Provides Operational and Revenue Guidance for the Year 2022

Gold Royalty Corp. (NYSEAM:GROY) announced intention to acquire Elemental Royalties Corp. (TSXV:ELE) for approximately CAD 130 million.

Independent Director recently bought CA$78k worth of stock

Third quarter 2021 earnings released: US$0.012 loss per share (vs US$0.032 loss in 3Q 2020)

Independent Director recently bought CA$65k worth of stock

Returns On Capital At Elemental Royalties (CVE:ELE) Paint A Concerning Picture

Elemental Royalties Corp. Provides Production Guidance for the Year 2021

Second quarter 2021 earnings released: US$0.017 loss per share (vs US$0.16 loss in 2Q 2020)

Elemental Royalties Corp. Notes Start of Ore Processing at Key Karlawinda Royalty and Progress at Panton Royalty

Elemental Royalties Notes Commissioning of Cornerstone Karlawinda Mine

Elemental Royalties Corp. Provides Production Guidance for the Year 2021

Elemental Royalties Notes Ongoing High-Grade Discoveries At Key Amancaya Royalty

We Think Elemental Royalties (CVE:ELE) Can Easily Afford To Drive Business Growth

Full year 2020 earnings released

Elemental Royalties Corp. Provides Revenue and Production Guidance for the Full Year 2021

Are Investors Undervaluing Elemental Royalties Corp. (CVE:ELE) By 47%?

New 90-day low: CA$1.38

Elemental Royalties Notes High Grade Extensions at Producing Amancaya Mine, Karlawinda Construction on Track

Elemental Royalties Corp. Expands and Confirming the Continuity of Higher-Grade Mineralization in Several Areas of the Mercedes Project

Elemental Royalties Corp. announced that it expects to receive CAD 12 million in funding

First half earnings released

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age