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Firering signs option agreement over Côte d'Ivoire nickel/cobalt project

25th July 2019

By: Tasneem Bulbulia

Deputy Editor Online

     

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Dual-listed Altus Strategies’ wholly owned subsidiary Aeos Resources has signed an option agreement with Firering Holdings in respect of the former’s application for the Toura nickel/cobalt licence, in the west of Côte d'Ivoire.

If Aeos is granted the Toura licence and, should Firering exercise its option, Firering will pay Altus €15 000 in cash and Aeos will transfer a 95% interest in its locally incorporated and 100%-owned subsidiary Apalex to Firering.

Aeos will also be granted a royalty on gross revenues generated by the sale of ore minerals mined from Toura, net of transportation costs.

The royalty will be subject to a separate agreement, which will be entered into between Aeos and Firering, within six months of the grant of the application.

The option agreement will be replaced by a shareholders’ agreement within 30 days of the exercise of the option by Firering.

“We are delighted to sign this option agreement with Firering on the Toura nickel/cobalt project in western Côte d'Ivoire,” said Altus CE Steven Poulton in a statement released on Thursday.

He highlighted that Toura was strategically located within an emerging and prospective nickel/cobalt province.

“We look forward to the grant of the application and to working with Firering thereafter.”

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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