June 26, 2009 / 4:26 PM / in 8 years

UPDATE 1-Altius Minerals posts Q4 loss

* Q4 loss C$0.05/shr

* Q4 hurt by C$2.3 mln in writedowns

* Revenue down 29 pct to C$1.94 mln

June 26 (Reuters) - Canada’s Altius Minerals Corp (ALS.TO) posted a quarterly loss due to a write down of C$2.3 million ($2.01 million) on investments in exploration and development stage companies.

For the fourth-quarter ended April 30, net loss was C$1.5 million, or 5 Canadian cents a share, compared with a loss of C$42.0 million, or C$1.34 a share, in the year-ago period.

The company, which acquires and develops natural resources projects in Eastern Canada, said revenue fell 29 percent to C$1.94 million.

Most of the investments written down were initially received from share payments under earn-in agreements or from the vending of mineral properties, the company said in a statement.

Altius shares were down 6 Canadian cents at C$6.30 in midday trade Friday on the Toronto Stock Exchange. ($1=1.147 Canadian Dollar) (Reporting by Sakshi A Mattoo in Bangalore; Editing by Ratul Ray Chaudhuri)

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