Altus Strategies Buys Royalties Portfolio for $24.0 Million; Will Hold Placing
13 Diciembre 2021 - 12:49PM
Noticias Dow Jones
By Joe Hoppe
Altus Strategies PLC said Monday that it has entered two sale
and purchase agreements to acquire a portfolio from Newcrest Mining
Ltd. for $24.0 million, financed through a proposed $25.0 million
share placing and subscription.
The mining company said that the portfolio consists of royalties
on two producing gold mines, one near-production gold mine and up
to 21 near-term development and exploration stage projects, and is
being acquired through a strategic joint venture with AlphaStream
Ltd., a specialist mining royalty and streaming company.
Altus said that 23 of the interests are in Australia with the
other in Ivory Coast. The Australia interests will be acquired
through a newly incorporated Australian company owned 80.1% by
Altus, with AlphaStream holding the remainder. The Ivory Coast
asset will be held in a 50/50 split company.
The company said it will raise around $25.0 million through the
placing of shares at 53.5 pence (71.0 U.S. cents) each, with the
final number of shares placed at the discretion of sole bookrunner
BMO Capital Markets Ltd.
"The Newcrest portfolio provides Altus with immediate cash flow,
portfolio diversification and is heavily weighted towards gold in
Australia, a 'top tier' jurisdiction," Chief Executive Steve
Poulton said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
December 13, 2021 13:34 ET (18:34 GMT)
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