TIDMALS
RNS Number : 5944P
Altus Strategies PLC
20 October 2021
Altus Strategies Plc / Index (EPIC): AIM (ALS); TSX-V (ALTS);
OTCQX (ALTUF) / Sector: Mining
20 October 2021
Altus Strategies Plc
("Altus" or the "Company")
First Royalty Payment Received from Caserones Copper Mine
Exceeds Expectations
Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF)
announces that it has received its first quarterly royalty payment
of US$1.34M before tax (US$0.94M after tax), from its effective
0.418% net smelter return royalty ("NSR") interest on the Caserones
copper mine in Chile ("Caserones"). This payment is in respect of
Altus' royalty on production for the second quarter ending 30 June
2021 ("Q2") and exceeded the Company's expectations by 18%,
primarily due to strong copper prices during the period.
Highlights:
-- First quarterly royalty income payment of US$943,322 (after tax) received by Altus
-- Payment for 0.418% NSR royalty for Q2 production at Caserones copper mine in Chile
-- Royalty payment exceeded expectations by 18%, reflecting strong copper price in the period
-- Next Caserones NSR royalty payment expected in November 2021 for Q3 production
-- Caserones in operation since 2015, with an estimated 17 years of production remaining
-- Global copper price outlook remains strong
Steven Poulton, Chief Executive of Altus, commented:
"We are delighted to have received our first royalty income from
our NSR royalty on the Caserones copper mine in Chile, having
completed the final closing of the acquisition last month. The
income is a landmark event for Altus, as we have now transitioned
into a revenue generating business. The payment relates to the
royalty for the second quarter of 2021 at Caserones and, given the
strong copper prices during the period, the Q2 2021 royalty payment
was the highest quarterly royalty payment since production
commenced at Caserones in 2015. The next royalty payment is
expected as soon as November 2021.
"Altus is on a strong growth trajectory and has significant
momentum and I look forward to updating shareholders on the results
from our current activities in due course."
About the Caserones Mine
The Caserones mine is a large, open-pit porphyry
copper-molybdenum deposit, located within a 17,000 hectare land
package at an elevation of approximately 4,300m above sea level in
the borough of Tierra Amarilla, in the Atacama region of northern
Chile, approximately 800km north of the capital, Santiago.
The mine is owned and operated by Minera Lumina Copper Chile
SpA, an indirect 100% owned subsidiary of JX Nippon Mining &
Metals Corporation of Japan. It produces copper and molybdenum
concentrates from a conventional crusher, mill and flotation plant,
as well as copper cathodes from a dump leach, solvent extraction
and electrowinning plant. Caserones has been in operation for five
years, following a capital investment of approximately US$4.2
billion. In 2020 Caserones reported production of 104,917 tonnes of
copper and 2,452 tonnes of fine molybdenum in concentrates, as well
as 22,056 tonnes of fine copper in cathodes. Caserones has an
estimated 17 years of operation remaining under its current mine
plan, along with excellent exploration potential. In a news release
dated 9 November 2020, JX Nippon announced plans for "stepping up
exploration efforts in areas around the mine" in an effort to
expand production and further extend the mine life.
Qualified Person
The technical disclosure in this regulatory announcement has
been approved by Steven Poulton, Chief Executive of Altus. A
graduate of the University of Southampton in Geology (Hons), he
also holds a Master's degree from the Camborne School of Mines
(Exeter University) in Mining Geology. He is a Fellow of the
Institute of Materials, Minerals and Mining and has over 20 years
of experience in mineral exploration and is a Qualified Person
under the AIM rules and NI 43-101.
For further information, you are invited to visit the Company's
website www.altus-strategies.com or contact:
Altus Strategies Plc Tel: +44 (0) 1235 511 767
Steven Poulton, Chief Executive E-mail: info@altus-strategies.com
SP Angel (Nominated Adviser)
Richard Morrison / Adam Cowl Tel: +44 (0) 20 3470 0470
SP Angel (Broker)
Grant Barker / Richard Parlons Tel: +44 (0) 20 3470 0471
Shard Capital (Broker)
Isabella Pierre / Damon Heath Tel: +44 (0) 20 7186 9927
Yellow Jersey PR (Financial PR & IR) Tel: +44 (0) 20 3004 9512
Charles Goodwin / Henry Wilkinson E-mail: altus@yellowjerseypr.com
About Altus Strategies Plc
Altus Strategies (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF) is a
mining royalty company generating a diversified and precious metal
focused portfolio of assets. The Company's differentiated approach
of generating royalties on its own discoveries in Africa and
acquiring royalties globally through financings and acquisitions
with third parties, has attracted key institutional investor
backing. The Company engages constructively with all stakeholders,
working diligently to minimise its environmental impact and to
promote positive economic and social outcomes in the communities
where it operates. For further information, please visit
www.altus-strategies.com .
Cautionary Note Regarding Forward-Looking Statements
Certain information included in this announcement, including
information relating to future financial or operating performance
and other statements that express the expectations of the Directors
or estimates of future performance constitute "forward-looking
statements". These statements address future events and conditions
and, as such, involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the statements.
Such factors include, without limitation, the completion of planned
expenditures, the ability to complete exploration programmes on
schedule and the success of exploration programmes. Readers are
cautioned not to place undue reliance on the forward-looking
information, which speak only as of the date of this announcement
and the forward-looking statements contained in this announcement
are expressly qualified in their entirety by this cautionary
statement.
Where the Company expresses or implies an expectation or belief
as to future events or results, such expectation or belief is based
on assumptions made in good faith and believed to have a reasonable
basis. The forward-looking statements contained in this
announcement are made as at the date hereof and the Company assumes
no obligation to publicly update or revise any forward-looking
information or any forward-looking statements contained in any
other announcements whether as a result of new information, future
events or otherwise, except as required under applicable law or
regulations.
TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organisation of Canada accepts responsibility for the
adequacy or accuracy of this release.
Market Abuse Regulation Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
**END**
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