Upon completion, Elemental Altus would increase its global royalty land coverage by 20% , bringing the royalty portfolio to more than 75 royalties covering approximately 9,000 kmAccording to the company, this transaction would significantly expand its North American royalty presence with an additional five royalties in Canada and the US.
“The acquisition of this royalty portfolio materially expands our development pipeline in Canada. The Pickle Crow and Hope Brook projects are both former operating gold mines which have reportedly produced over 2.2 million ounces of gold historically, and are currently the subject of extensive exploration and investment,” Frederick Bell, CEO of Elemental Altus, commented.
Earlier this month, Auteco received firm commitments from investors to raise approximately A$9 million, which will be used to fast-track exploration work focused on targeting new discoveries and continuing to step out on the existing resource. of the project’s total area, including all current resources, historical workings, an existing and unused 225 t/d mill, and several priority regional targets.
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