2nd Aug 2022 12:22
Altus Strategies PLC - Oxfordshire, England-based mining royalty company - Receives an updated mineral resource estimate and a preliminary economic assessment for the Diba & Lakanfla gold project in Mali. Says the project has a pretax net present value of USD150 million, at an 8% discount. It has an indicated and inferred resource of 312,000 ounces and 362,000 ounces of gold, respectively. Says the project hosts numerous targets for further drill testing and resource growth. Intends to undertake a process to "potentially" monetise it and create royalty.
"With numerous prospects remaining to be adequately drill tested, the Diba & Lakanfla project is strategically positioned to become a potentially significant gold deposit in western Mali. With the publication of the MRE and PEA, Altus now intends to undertake a process to potentially monetise the project, including the creation of a long-term royalty on any future gold production. We look forward to updating shareholders in due course," Chief Executive Steven Poulton comments.
Current stock price: 47.95 pence, up 6.6% on Tuesday
12-month change: down 18%
By Abby Amoakuh; [email protected]
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