StockMarketWire.com - Mining royalty company Altus Strategies said it had signed a gold royalty and equity deal with Stellar Africa Gold on the company's two prospective gold projects in the Ivory cost.

Under the terms of the agreement, Stellar acquired a 100% stake in Aeos Resources. Aeos held a 100% interest in Altus' Prikro and Zenoula gold projects through its Ivorian subsidiary Aucrest SARL.

Steller agreed to pay Altus an initial payment of a 2.5% royalty on the projects, 2.5m stellar shares valued at C$125K and 2.5m share purchase warrants, each exercisable to purchase a Stellar share for 24 months at C$0.07.

Altus would receive US$250K in milestone payments after an independent resource confirms the definition of a resource exceeding 500K ounces of gold. Another $250K would be paid by Steller upon the completion of a definitive feasibility study on either project.



At 8:48am: [LON:ALS] Altus Strategies Plc share price was +1.5p at 66.5p



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