Aim- and TSX-V-listed Altus Strategies has granted ASX-listed Indiana Resources an extension to the exclusivity period for completing due diligence on the Lakanfla and Tabakorole gold projects, in Mali, to June 14.
Indiana requested the extension owing to the time required to process substantial amounts of historical data on the projects.
Indiana and Altus earlier this year signed a nonbinding term sheet agreement for a joint venture on the projects, whereby, subject to entering into a definitive agreement with Altus, Indiana will have the option to earn up to an 85% interest in Legend Mali – a wholly-owned subsidiary of Altus, which holds the projects.