https://www.miningweekly.com

Altus sells nickel/cobalt licence to Firering

15th March 2022

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

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

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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