PROJECTS AND EXPLORATION •
ROYALTY GENERATED ON TOURA NICKEL-COBALT PROJECT , CÔTE D ' IVOIRE
• Location : Côte d ' Ivoire
• Phase : SPA
• Resource : Nickel-Cobalt
Altus Strategies Plc announced in March this year that it has executed a Sale and Purchase Agreement ( SPA ) with Firering Strategic Minerals Plc ( Firering ) for the sale of the company ' s wholly owned Toura nickel-cobalt licence application located in western Côte d ' Ivoire ( the Project ).
In consideration for the Project , Firering will grant the company a Gross Revenue Royalty ( GRR ) of up to 1.0 % on nickel and cobalt sales from the Project and pay the company € 15,000 .
Highlights :
• SPA with Firering , which will acquire a 100 % interest in the company ' s local subsidiary
• Royalty generated on the Toura nickel-cobalt Project application in western Côte d ' Ivoire
• Altus to receive a GRR of up to 1.0 %, subject to prevailing nickel prices , and € 15,000
• The Project located in an emerging and highly prospective nickel-cobalt province
• Potential for strong future demand for nickel and cobalt from growing electric vehicle sector
• Altus ' s business model includes the generation of low-cost royalties by staking and monetising projects
Steven Poulton , Chief Executive of Altus , commented , “ We are pleased to generate this new nickel-cobalt royalty on our Toura application in Côte d ' Ivoire , which is strategically located in an emerging and highly prospective nickel-cobalt province . Altus will receive a gross revenue royalty of up to 1.0 % on any future production from the project and a nominal cash consideration upfront . This transaction illustrates the value of our ' boots on the ground ' approach , where Altus can generate royalties at low cost , by directly staking and monetising projects . We look forward to following Firering ' s progress as it advances the Project .” •
We are pleased to generate this new nickel-cobalt royalty on our Toura application in Côte d ' Ivoire , which is strategically located in an emerging and highly prospective nickel-cobalt province .
www . africanmining . co . za African Mining • June 2022 • 11