Altus Strategies Plc: First Royalty Payment Received from Caserones Copper Mine Exceeds Expectations
![Altus Strategies Plc: First Royalty Payment Received from Caserones Copper Mine Exceeds Expectations](https://www.minenportal.de/media/goldseiten-news.jpg)
Highlights:
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- 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:
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|Altus Strategies Plc |Tel:+44 (0) 1235 511 767 |
|Steven Poulton, Chief Executive |E-mail:info@altus-strategies.com|
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|SP Angel (Nominated Adviser) |
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|Richard Morrison / Adam Cowl |Tel:+44 (0) 20 3470 0470 |
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|SP Angel (Broker) |
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|Grant Barker /Richard Parlons |Tel:+44 (0) 20 3470 0471 |
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|Shard Capital (Broker) |
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|Isabella Pierre / Damon Heath |Tel:+44 (0) 20 7186 9927 |
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|Yellow Jersey PR (Financial PR&IR)|Tel:+44 (0) 20 3004 9512
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|Charles Goodwin / Henry Wilkinson |E-mail:altus@yellowjerseypr.com |
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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.