Altus acquires NSR royalty over Mali project
Dual-listed Altus Strategies has issued two-million ordinary shares to Malian company Agmex in return for a 2% net smelter return (NSR) royalty held by Agmex over Altus’ 100%-owned 24 km2 Lakanfla gold project, in western Mali.
Agmex had previously agreed to sell its 3% NSR royalty over the project to Altus, which retains the option to acquire the remaining 1% NSR royalty.
"We are pleased to have concluded the acquisition of a 2% NSR royalty on our Lakanfla gold project,” commented Altus CE Steve Poulton.
Lakanfla is subject to an earn-in and royalty joint venture (JV) with Glomin Services and is located 6 km southeast of the Sadiola gold mine and 5 km east of Altus’ Diba oxide gold project.
Lakanfla contains a significant area of artisanal gold workings and historical drilling has returned good results, Poulton noted.
“Based on our review of the project's historical data, we believe Lakanfla has the potential to host a substantial karst-style gold target, analogous to the adjacent openpits at Sadiola.
“Preparations for a Phase 1 drilling programme at Lakanfla are now under way, as part of the JV we recently announced with Glomin,” he said.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation