https://www.engineeringnews.co.za

Altus progresses sale of Côte d'Ivoire gold prospects

29th June 2020

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

TSX-V- and Aim-listed Altus Strategies has signed a nonbinding term sheet with TSX-V-listed Stellar Africa Gold for the sale of its Prikro and Zenoula gold projects, in  Côte d'Ivoire.

Altus will receive an initial payment of 2.5-million Stellar shares, with a market value of about C$87 500, and 2.5-million share purchase warrants.

Each warrant is exercisable to buy one Stellar share for C$0.07 apiece and is valid for 24 months.

Altus will also receive a 2.5% net smelter return royalty on the projects, as well as further equity-based payments if the projects progress.

“We believe the proposed transaction not only validates the value we have identified in the projects, but that we have partnered with the right company to progress these projects through to the next key phases,” says Altus CEO Steven Poulton.

He adds that the company’s focus remains on delivering a high-quality, diversified and precious metals-focused portfolio of assets to its shareholders.

The proposed transaction further underscores Altus’ dynamic royalty generating business model.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Trotech
Trotech

Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.

VISIT SHOWROOM 
Lilak Aluminium
Lilak Aluminium

For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







301

sq:0.079 1.087s - 140pq - 2rq
Subscribe Now