Metals

Altus sells nickel/cobalt licence to Firering

CBCIE Time:Mar 16, 2022 15:46 Source:miningweekly

TSX-V- and Aim-listed Altus Strategies will sell its Toura nickel/cobalt licence application, in Côte d'Ivoire, to Aim-listed Firering Strategic Minerals for €15 000 and a gross revenue royalty (GRR) of up to 1% on future production from the project.

Altus’ business model includes the generation of low-cost royalties by staking and monetising projects.

When the nickel price is less than $12 000/t, no royalties will be payable, when the nickel price is between $12 000 and $18 000/t a 0.5% GRR will apply, and a nickel price greater than $18 000/t triggers a 1% GRR.

The nickel price on March 14 was $48 000/t.

Altus says the Toura prospect is located in a highly prospective nickel/cobalt province and affirms there is increasing demand for nickel and cobalt in the growing electric vehicle sector.

Firering says it will first focus on advancing its Atex lithium/tantalum project in Côte d'Ivoire through a diamond drilling campaign, but views the Toura asset as one of potential to add significant upside to shareholders in future. 

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