DIDCOT UK / ACCESSWIRE / April 30, 2019 / Altus Strategies Plc (AIM: ALS & TSX-V: ALTS), the Africa focused royalty and project generator, announces its audited final results for the year ended 31 December 2018. These are available in the attached file or can be downloaded from the Company's website at http://altus-strategies.com/investors/financials/ and on SEDAR at www.sedar.com. You can also find our Final Results at the following PDF link: https://www.accesswire.com/media/543486/Altus-Strategies-plc-2018-Final.pdf
Corporate Highlights
- Completion of the Plan of Arrangement with Legend Gold Corp.
- Dual listing of the Company's shares on the TSX-V alongside AIM listing
- Agreement to vend Cameroon Bauxite JV into JV partner for equity plus royalty
- Discussions with potential Joint Venture partners across project portfolio
Operational Highlights
- Potential VMS style copper and gold discovery at Daro in Ethiopia
- New copper and zinc focused exploration licences granted in Morocco
- Major artisanal gold workings discovered at the Zolowo licence in Liberia
- Grant of the Company's first exploration licence in Côte d'Ivoire
- Additional high grade iron ore discovered at Bikoula licence in Cameroon
- Drill targets defined at Lakanfla gold project in Mali
Financial Highlights
- Fundraise of £2.3m/C$4.1m (before expenses) in April 2018 with strong institutional support
- Cash outflow of £1.8m/C$3.1m from operating activities during the year
- Cash and marketable securities of £1.6m/C$2.8m (cash balance of £0.7m/C$1.3m and listed equity holdings of £0.9m/C$1.5m as at 31 December 2018
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For further information you are invited to visit the Company's website www.altus-strategies.com or contact:
Altus Strategies Plc Steven Poulton, Chief Executive |
Tel: +44 (0) 1235 511 767 |
|
SP Angel (Nominated Adviser) |
Tel: +44 (0) 20 3470 0470 |
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SP Angel (Broker) |
Tel: +44 (0) 20 3470 0471 |
|
Blytheweigh (Financial PR) |
Tel: +44 (0) 20 7138 3204 |
About Altus Strategies Plc
Altus is a London (AIM: ALS) and Toronto (TSX-V: ALTS) listed royalty and project generator in the mining sector with a focus on Africa. Our team creates value by making mineral discoveries across multiple licences. We enter joint ventures with respected groups and our partners earn interest in these discoveries by advancing them toward production. Project milestone payments we receive are reinvested to extend our portfolio, accelerating our growth. The portfolio model reduces risk as our interests are diversified by commodity and by country. The royalties generated from our portfolio of projects are designed to yield sustainable long term income. We engage constructively with all our stakeholders, working diligently to minimise our environmental impact and to promote positive economic and social outcomes in the communities where we operate.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release contain forward-looking information. 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 news release.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Altus Strategies Plc