Canada-based mining company Altius Minerals Corporation (Altius) has announced its financial results for the fiscal year ended April 30, 2013. As a result of the ongoing decline in market-based valuations of mineral-related assets, Altius continues to seek out investment opportunities in the industry. The company stated that it prefers royalty-based financings and/or acquisitions that meet its objectives in terms of value and underlying asset quality.
In the given period, Altius posted a net loss of C$13.15 million compared to a net loss of C$4.92 million for the previous year. Altius' sales revenue decreased to C$5.86 million, down 47 percent compared to the previous financial year.
In the last quarter of the year, the company registered a net loss of C$3.97 million, compared to a net loss of C$2.61 million in the corresponding period of the previous year. The company's sales revenues in the given quarter amounted to C$1.58 million, increasing by 9.1 percent year on year.