Aim-, TSX-V- and OTCQX-listed Altus Strategies has been issued a ten-year mining licence for its 100%-owned Agdz copper/silver project by the Ministry of Energy, Transition and Sustainable Development of Morocco.
The company’s Moroccan portfolio is held by its 100%-owned subsidiary Aterian Resources.
Aterian is subject to a potential vend-in and royalty generation transaction with Eastinco Mining and Exploration.
The transaction remains subject to Eastinco completing its proposed admission to the LSE.
Agdz is located 14 km southwest of the Bou Skour copper/silver mine. It hosts four significant copper/silver prospects covering an area of about 8 km2.
“The granting of a mining licence for the Agdz copper/silver project is a notable milestone for the project. The ten-year licence provides long-term security of tenure for Agdz, where the company has discovered a number of significant copper and silver prospects.
“Agdz is one of 14 Moroccan projects to be vended by Altus to Eastinco subject to its proposed LSE listing. Altus will hold royalties on all of the Moroccan projects, a royalty on a tantalum asset in Rwanda, as well as 25% of Eastinco’s enlarged share capital with warrants to purchase up to an additional 10%,” says Altus CEO Steven Poulton.