Altus Strategies plc plans to reorganise its Australia portfolio with the sale of a 30.1% interest in Alpha 3 SPV Ltd for $5,267,500 in order to expand its Africa assets.
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Alpha 3 is incorporated in the United Arab Emirates and owns a portfolio of 23 mining royalties in Australia, acquired from Newcrest Mining Ltd.
Altus and AlphaStream Capital Ltd have signed a sales and purchase agreement after which each will own 50% of Alpha 3.
“The proceeds from this deal will be applied to potential further accretive royalty acquisitions, as well as our ‘boots on the ground’ and high-impact royalty generation strategy in Mali, Egypt and other countries in Africa,” said Altus chief executive Steven Poulton.
The company holds a total of 33 royalty interests globally, including royalties on four producing mines.