Altus Strategies PLC - mining royalties in Africa - Completes sale of 100% interest in Prikro and Zenoula gold projects in Ivory Coast to Stellar Africa Gold Inc. Altus will receive 2.5 million Stellar shares, worth CAD125,000, about GBP72,000, plus warrants over another 2.5 million shares exercisable for two years at CAD0.070. Stellar was quoted early Monday in Toronto at CAD0.55. Altus also will receive a net smelter returns royalty on the projects of 2.5%. Altus may receive milestone payments in Stellar shares worth up to USD250,000 in total. Altus also reports third-quarter results, showing a pretax loss of GBP961,259 for the three months ended September 30, widened from GBP546,747 a year before. For the first nine months of 2020, the pretax loss narrows to GBP155,331 from GBP1.4 million.
Current stock price: 61.20 pence
Year-to-date change: up 96%
By Tom Waite; thomaslwaite@alliancenews.com
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