Altus Strategies plc has been awarded a 10-year mining licence for its 100% owned Agdz copper and silver project in Morocco.
AGDZ
The site lies 14km southwest of the Bou Skour copper-silver mine in the eastern Anti-Atlas of Morocco.
Agdz hosts four significant copper-silver prospects covering some 8km2.
The company’s Moroccan portfolio is held by its 100% owned subsidiary Aterian Resources Ltd.
PROPOSED DEAL
Aterian will potentially be sold in a royalty generation transaction with Eastinco Mining and Exploration plc, subject to the latter’s admission to the London Stock Exchange Standard List.
This would leave Altus holding 25% of the issued share capital of Eastinco and generate 14 new royalties to Altus in Morocco and one in Rwanda (tantalum).
SIGNIFICANT
“The granting of a mining licence for the Agdz Cu-Ag project in Morocco is a notable milestone for the project,” said chief executive Steven Poulton.
“The 10-year licence provides long-term security of tenure for Agdz, where the company has discovered a number of significant copper and silver prospects.”