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Eastinco Scoops Up Altus Strategies’ Moroccan Portfolio

Mining royalty generator Altus Strategies has entered into an agreement to sell its 100% owned subsidiary Aterian Resources Ltd to Eastinco Mining and…

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This article was originally published by Mining Feed
Source: Altus Strategies

Mining royalty generator Altus Strategies has entered into an agreement to sell its 100% owned subsidiary Aterian Resources Ltd to Eastinco Mining and Exploration. Altus Strategies is a mining royalty generator based in the UK that focuses on generating a diverse portfolio of precious metals. 

Altus has agreed to sell 100% of the Morocco-focused subsidiary to Eastinco, along with receiving up to 10% of additional warrants in Eastinco. It was also included in the agreement that Altus will be a shareholder of up to 25% of Eastinco, as well as having the option to let an Altus member join the Eastinco board. In addition, Altus will own 15 new royalties including a royalty on the Musasa tantalum mine in Rwanda. 

Steven Poulton, Chief Executive of Altus said in a statement, “We are delighted to announce the proposed divestment to Eastinco of our 100% owned Moroccan focused exploration subsidiary, Aterian, as part of Eastinco’s proposed LSE Standard Listing and subsequent name change to Aterian Plc. The enlarged entity will have a strong and unique portfolio of strategic metal exploration and development projects in Morocco and Rwanda.”

Through this new agreement, Eastinco is planning to transform into a pan-African strategic metals development company, including a subsequent name change to Aterian Plc upon completion of the transaction. 

Eastinco currently owns tantalum exploration and development projects in Rwanda. It is an investment company whose focus is on acquiring assets for the ethical exploration, development and trading of critical minerals across the African continent.

Charles Bray, Executive Chairman of Eastinco said in a press release: “I am delighted to report on this proposed acquisition of a significant portfolio of 15 copper, silver and other base metal exploration projects strategically positioned close to existing mining projects in Morocco. Upon completion, Altus will become a strategic shareholder of the Company, demonstrating Altus’ confidence in the projects, and providing us with an alignment of interest and the support of a well-respected industry player.” 

Bray continued “Previous exploration undertaken by Altus on the Moroccan assets highlight the strong potential for the discovery of deposits of strategic metals in particular, copper and silver. We believe the market fundamentals for copper are excellent, specifically linked to the anticipated growing demand for renewable energy and the related electrification of transportation globally.” 

The agreement still remains subject to certain conditions including the admission to trading of Eastinco’s entire issued share capital to the Official List of the FCA and to trading on the London Stock Exchange’s Main Market for listed securities. 

“We consider this to be the optimal time to broaden and strengthen our asset portfolio across Africa, adding to our established tantalum mining and exploration projects in Rwanda. Our working relationship with Altus will also guarantee a smooth transition to ensure exploration continues in Morocco without interruption. Our proposed LSE Standard Listing will provide us with exposure to a wider investor profile and greater liquidity in our shares and, therefore, a solid platform from which we can continue to grow,” Bray said.

Charles Bray believes this is a key step to becoming a leading strategic metal exploration and development company in Africa.

“We look forward to the completion of the acquisition, the successful Admission of Eastinco, and to supporting the Eastinco team going forward,” Poulton concluded. 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

The post Eastinco Scoops Up Altus Strategies’ Moroccan Portfolio appeared first on MiningFeeds.





Author: Matthew Evanoff

Precious Metals

Gold Springs Discovers New Gold System – Shares Jump 20%

Gold Springs [GRC-TSX; GRCAF-OTCQB] reported assay results from hole J-21-015 with an average…

Gold Springs Resource Corp. [GRC-TSX; GRCAF-OTCQB] reported assay results from hole J-21-015 with an average of 1.0 g/t gold equivalent over more than 163 metres located 180 metres south of the discovery hole J-21-006 at the 100%-owned Gold Springs property located on the border of Nevada and Utah.

The results confirm the existence of a new gold-mineralizing system called intrusive-related gold system (IRGS) on a new target that the company has named Tremor. This new gold system is situated along the northern extension of the Jumbo trend of the large Gold Springs project of 8,000 hectares.

J-21-015 highlights include 1.0 g/t gold equivalent over 163.1 metres: 1.42 g/t gold equivalent over 33.5 metres within the vein, which includes 3.26 g/t gold equivalent over 10.7 metres within the vein; and 0.94 g/t gold equivalent over 123.5 metres within the intrusive and contact zone.

Randall Moore, executive vice-president of exploration, stated: “We have been anxiously awaiting these results, which now confirm what we believe to be a major new discovery. The existence of an IRGS at Gold Springs opens a potentially large area to develop a new gold resource. Hole J-21-015 extended both the high-grade vein system and the gold mineralization associated with the intrusive first seen in hole J-21-006. We would also like to highlight that both holes ended in gold mineralization. We are now awaiting assays from another 15 holes at Tremor that are currently in the laboratory for testing. Drilling has extended this northern vein for over 200 metres and the Tremor intrusive zone for 600 metres along strike as seen in the drill cuttings. The thickest intercept within the intrusive thus far has been 280 metres.”

The company is waiting to receive assays from 24 holes on two targets; 15 from Tremor and nine from White Point, in the coming weeks.

Gold Springs Resource is confident of the presence of an intrusive-related gold system within the Tremor target situated along the north extension of the Jumbo trend in Utah where a strong CSAMT (controlled source audio magnetotelluric) high resistivity anomaly extends for 1,200 metres.

The company completed 18 holes at Tremor designed to test the extent of the intrusive-hosted gold system. These holes demonstrate the intrusive extends for 600 metres and is open to the north, south and at depth. In addition, the vein system in hole J-21-006 has been traced for 200 metres. For details on hole J-21-006, which returned 6.87 g/t gold equivalent over 24.4 metres, included grades of 30.9 g/t gold equivalent over 4.6 metres.

The drill has moved to Charlie Ross where eight additional holes are planned to follow up that new discovery.

Author: Staff Writer

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Energy & Critical Metals

Northern Graphite Snaps Up 2 Mines for US$40M

Northern Graphite Corp. [NGC-TSXV; NGPHF-OTCQB] has agreed to acquire a 100% interest in two graphite…

Northern Graphite Corp. [NGC-TSXV; NGPHF-OTCQB] has agreed to acquire a 100% interest in two graphite mines from French industrial minerals company Imerys Group for US$40 million, a move that CEO Greg Bowes described as “transformational” for the company.

The assets being acquired include the producing Lac des Iles graphite mine in Quebec and the Okanjande graphite deposit/Okorusu processing plant in Namibia. The Namibian project is held by Imerys and a joint venture partner.

Closing of the transaction is subject to a number of conditions, including the approval of the TSX Venture Exchange. The transaction is considered a “fundamental acquisition” under TSX Venture Exchange policies. As a result, trading in the company’s shares has been halted pending a satisfactory review by the TSX-V or closing of the transaction, whichever occurs firs.

Northern Graphite said it intends to raise US$55 million in financing to complete the transaction, which includes payment of the purchase price, capital improvements, reclamation bonding, working capital and transaction expenses.

The company has signed a term sheet with Sprott Resource Streaming and Royalty Corp. for US$40 million in debt/royalty/stream financing and an engagement letter with Sprott Capital Partners LP to act as lead agent with respect to an equity offering of US$15 million.

The Sprott Group intends to participate in the equity offering with an investment of US$3 million, and Imerys will receive US$3 million in equity on the same terms as the offering, as partial payment for the purchase price. Imerys is also providing other support for the transaction.

Northern Graphite is a mineral development and technology company that has been working to develop its flagship Bissett Creek graphite deposit in northern Ontario.

The company is also focused on upgrading mine concentrates into high value components used in lithium-ion batteries, electric vehicles, fuel cells, graphene and other advanced technologies.

Its aim has been to become a leading supplier of graphite, an industrial mineral that has long been associated with steel manufacturing, lead pencils and golf clubs, but is now a key ingredient used in the production of electric vehicles.

Speaking about the acquisition of the Imerys assets, Bowes said: “This is a truly transformational deal that will elevate Northern from one of over 20 junior graphite companies looking for project financing to being the only North American and the world’s third largest non-Chinese graphite-producing company.”

In addition, he said Northern will have two large-scale development projects in stable jurisdictions that will enable the company to significantly expand production to meet growing demands from the [electric vehicle]/battery markets,’’ Bowes said.

Transaction highlights include the acquisition of 40,000 to 50,000 tonnes per year of graphite concentrate production capacity. The Namibian operation will be brought back on line, enabling Northern Graphte to expand its market share in North America and Europe.

Terms of the deal were announced just before the market close on December 2, 2021, when Northern Graphite shares were priced at 83 cents and trade in a 52-week range of 92 cents and 23 cents.

 

Author: Staff Writer

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Precious Metals

Sprott Physical Gold and Silver Trust (CEF): A Brand-New Prospect for Investors

Sprott Physical Gold and Silver Trust (CEF) is currently valued at $17.10. When the trading was stopped…

For the readers interested in the stock health of Sprott Physical Gold and Silver Trust (CEF). It is currently valued at $17.10. When the trading was stopped its value was $17.21.Recently in News on April 13, 2021, Sprott Physical Gold and Silver Trust Updates Its “At-The-Market” Equity Program. Sprott Asset Management LP (“Sprott Asset Management”), a subsidiary of Sprott Inc., on behalf of the Sprott Physical Gold and Silver Trust (NYSE: CEF) (TSX: CEF) (TSX: CEF.U) (the “Trust”), a closed-ended mutual fund trust created to invest and hold substantially all of its assets in physical gold and silver bullion, today announced that it has updated its at-the-market equity program to issue up to US$1 billion of units of the Trust (“Units”) in the United States and Canada. You can read further details here

Sprott Physical Gold and Silver Trust had a pretty Dodgy run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $20.38 on 06/01/21, with the lowest value was $16.75 for the same time period, recorded on 09/29/21.

Sprott Physical Gold and Silver Trust (CEF) full year performance was -5.37%

Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, Sprott Physical Gold and Silver Trust shares are logging -16.09% during the 52-week period from high price, and 2.09% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $16.75 and $20.38.

The company’s shares, operating in the sector of Financial managed to top a trading volume set approximately around 2939308 for the day, which was evidently higher, when compared to the average daily volumes of the shares.

When it comes to the year-to-date metrics, the Sprott Physical Gold and Silver Trust (CEF) recorded performance in the market was -11.63%, having the revenues showcasing -4.09% on a quarterly basis in comparison with the same period year before.

Specialists analysis on Sprott Physical Gold and Silver Trust (CEF)

According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 17.91, with a change in the price was noted -1.84. In a similar fashion, Sprott Physical Gold and Silver Trust posted a movement of -9.71% for the period of last 100 days, recording 489,960 in trading volumes.

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Trends and Technical analysis: Sprott Physical Gold and Silver Trust (CEF)

Raw Stochastic average of Sprott Physical Gold and Silver Trust in the period of last 50 days is set at 16.43%. The result represents improvement in oppose to Raw Stochastic average for the period of the last 20 days, recording 6.72%. In the last 20 days, the company’s Stochastic %K was 2.89% and its Stochastic %D was recorded 4.11%.

Now, considering the stocks previous presentation, multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be encouraging, given the fact the metric is recording -11.63%. Additionally, trading for the stock in the period of the last six months notably deteriorated by -14.50%, alongside a downfall of -5.37% for the period of the last 12 months. The shares -3.66% in the 7-day charts and went up by -4.26% in the period of the last 30 days. Common stock shares were lifted by -4.09% during last recorded quarter.

Author: Sarah Baker

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