Altus Strategies Plc / Index: AIM / EPIC: ALS / Sector: Mining
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Altus Strategies Plc
("Altus" or the "Company")
Altus Strategies Plc (AIM: ALS & TSX-V: ALTS), the Africa focused exploration project generator, announces that it has today published its unaudited financial results for the three month and six month periods ending 30 June 2018 and the Management Discussion & Analysis for the three month period ending 30 June 2018. These documents have been posted on the Company’s website www.altus-strategies.com and are also available on SEDAR at www.sedar.com.
- Dual listing of the Company's shares on the TSX Venture Exchange (TSXV: ALTS)
- Private placement raising C$4.1 million (£2.3 million) before expenses
- Exercise of 1,650,000 share purchase warrants
- Discovery of substantial artisanal gold workings at the Zolowo project in western Liberia
- Initial reconnaissance on three new licences granted in central Morocco
- Initial reconnaissance at the Prikro gold licence in eastern Côte d'Ivoire
- Discovery of potential VMS system at Daro copper-gold project in northern Ethiopia
- Interpretation of karst style ore body at Lakanfla gold project in western Mali
- Cash on hand and marketable securities of £2,030,489 at 30 June 2018
- Exploration expenditure incurred of £328,411 for six months ending 30 June 2018
Post period highlights:
- Discussions underway with joint venture partner Canyon Resources Ltd ("Canyon") in respect of vending the Birsok bauxite joint venture (central Cameroon) in to Canyon
- Value of holding in Canyon has increased to £1,141,566 as of 27 August 2018
- New artisanal gold workings discovered at the Laboum project in northern Cameroon
The technical disclosure in this regulatory announcement has been read and approved by Steven Poulton, Chief Executive of Altus. A graduate of the University of Southampton in Geology (Hons), he also holds a Master's degree from the Camborne School of Mines (Exeter University) in Mining Geology. He is a Fellow of the Institute of Materials, Minerals and Mining and has over 19 years of experience in mineral exploration and is a Qualified Person under the AIM rules and National Instrument 43-101 under the rules of the TSX.
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)
Richard Morrison / Soltan Tagiev
Tel: +44 (0) 20 3470 0470
SP Angel (Broker)
Richard Parlons / Jonathan Williams
Tel: +44 (0) 20 3470 0471
Blytheweigh (Financial PR)
Tim Blythe / Camilla Horsfall / James Husband
Tel: +44 (0) 20 7138 3204
About Altus Strategies Plc
Altus is a London (AIM: ALS) and Toronto (TSX-V: ALTS) listed, diversified and Africa focused mineral exploration project generator. Through our subsidiaries we discover new projects and attract third party capital to fund their growth, development and ultimately exit optionality. This strategy enables Altus to remain focused on the acquisition of new opportunities to be fed into the project generation cycle and aims to minimise shareholder dilution. Our business model is designed to create a growing portfolio of well managed and high growth potential projects and royalties, diversified by commodity and by country. Altus currently has eighteen projects in six commodities across six countries. We aim to position our shareholders at the vanguard of value creation, but with significantly reduced risks traditionally associated with investments in the mineral exploration sector.
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 programs on schedule and the success of exploration programs. 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 its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.