https://www.engineeringnews.co.za
Gold|PROJECT|Services|Drilling
Gold|PROJECT|Services|Drilling
gold|project|services|drilling

Altus acquires NSR royalty over Mali project

7th January 2020

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

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.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.069 0.121s - 160pq - 2rq
Subscribe Now