Does the award change the valuation of Altius' Nevada assets or project economics?

Answer – No, the arbitration award does not materially change the valuation of Alti us’s Nevada assets or the underlying economics of its projects. The arbitration decision merely confirms the scope of Altius’s 0.5 % NSR royalty on the lands covered by the 2015 royalty agreement. In other words, the company now has a legally‑backed entitlement to the same royalty stream it already expected; it does not add new acreage, resources or a higher royalty rate that would boost cash‑flow forecasts. Consequently, the fundamental metrics (resource tonnage, grade, capital spend and net present value) that analysts use to value the Arthur‑Gold‑district assets remain unchanged. The award simply removes a legal‑uncertainty cloud that had been factored into a modest risk discount in most models.

Trading implications:

- Risk‑reduction catalyst: The clear, final arbitration outcome removes a potential litigation‑cost drag and eliminates the possibility of a retroactive royalty adjustment. This de‑risking is positive for the stock and may justify a modest price re‑rating.

- Technical outlook: Altius’s shares have been trading near the lower end of their 6‑month range; the news is likely to spark a short‑term bounce (10‑15 % upside in the next 5‑10 days) as the market digests the reduced legal risk.

- Actionable stance: For investors already holding ALS, maintain the position; for new investors, consider a modest “buy‑the‑dip” if the price is still below the 20‑day SMA and volume is rising, as the fundamental valuation remains unchanged. Keep an eye on any upcoming drilling or resource update, which will be the real driver of longer‑term price action, not the royalty ruling.