Absolute Return

Altius Minerals: Excellent Management For Free

Key Figures

The symbol "$" will represent Canadian Dollars.
Market Cap: $301M (share price USD 10.80)
LT+ST Debt: $0
Pension liabilities: $0
Book Value: $257M
EV: $114M
FCF: $6M (04-2013)
Shares outstanding: 28.3M (fully diluted)

Altius Minerals (OTCPK:ATUSF) has been suffering due to the general malaise in the mining sector. The company has a fantastic management with a great long term record. It has no debt, $187M in cash and marketable securities, and owns royalties on many mining properties in Canada -- one of which Voisey's Bay LP alone is worth at least $60M. All this can be bought for only $301M. We will see that one is actually getting paid to own the company and getting a...

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