Newly appointed Altus Strategies corporate development VP Michael Starke
Aim- and TSX-V-listed Altus Strategies has appointed Michael Starke corporate development VP, with immediate effect.
With over 14 years’ experience in corporate finance in the natural resources industry, he was previously LSE- and TSX-listed copper and gold explorer SolGold corporate finance manager.
Prior to this, he worked for eight years with Standard Bank in London, where he was involved in investment banking and mining equity research with a primary focus on Africa.
Starke holds a BSc in geology and an MSc in environmental geochemistry from the University of Cape Town and is registered with the South African Council for Natural Scientific Professions.
Altus CE Steven Poulton says Starke joins Altus at what is an important stage in the company’s growth trajectory. “[Starke’s] highly relevant corporate finance expertise will support and enhance our ability to identify, create and realise value from our growing and diversified portfolio of projects and royalties.”
He adds that Starke will also manage Altus’ corporate communications, ensuring its shareholders, as well as all other key stakeholders, are provided with the latest information with regard to Altus’ plans and progress.
In the past six months, Altus has closed two transformational transactions and progressed across its portfolio of projects.
“The company has acquired up to 25 primarily copper and gold royalties on mines and projects in Chile, Côte d'Ivoire and Australia for [about] $58-million,” says Poulton. These royalties are expected to generate significant after-tax cash flow to Altus of about $6.4-million this year and $10-million in 2023.
During the same period, among other developments, Altus commenced the ongoing resource expansion drilling programme at its Diba gold project, in Mali; announced “encouraging” reconnaissance findings from its gold projects in Egypt; and started the potential divestment of its Moroccan base metals portfolio.
“We anticipate a number of material project and royalty developments in the year ahead and I look forward to updating the market on these in due course,” Poulton says.