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Business|PROJECT|Projects|Drilling
Business|PROJECT|Projects|Drilling
business|project|projects|drilling

Altus sells nickel/cobalt licence to Firering

15th March 2022

By: Marleny Arnoldi

Deputy Editor Online

     

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TSX-V- and Aim-listed Altus Strategies will sell its Toura nickel/cobalt licence application, in Côte d'Ivoire, to Aim-listed Firering Strategic Minerals for €15 000 and a gross revenue royalty (GRR) of up to 1% on future production from the project.

Altus’ business model includes the generation of low-cost royalties by staking and monetising projects.

When the nickel price is less than $12 000/t, no royalties will be payable, when the nickel price is between $12 000 and $18 000/t a 0.5% GRR will apply, and a nickel price greater than $18 000/t triggers a 1% GRR.

The nickel price on March 14 was $48 000/t.

Altus says the Toura prospect is located in a highly prospective nickel/cobalt province and affirms there is increasing demand for nickel and cobalt in the growing electric vehicle sector.

Firering says it will first focus on advancing its Atex lithium/tantalum project in Côte d'Ivoire through a diamond drilling campaign, but views the Toura asset as one of potential to add significant upside to shareholders in future.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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