Overview
The Altar copper-gold project hosts a cluster of poprhyry deposits in Argentina which Aldebaran has identified as an opportunity to re-explore and later deliver to the rising copper market.
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Status |
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| Geology |
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| Location |
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| Nearby Mines |
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| 3 Mineralization Zones (To Date) |
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| Option Agreement |
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Aldebaran and Sibanye-Stillwater JV Agreement
Aldebaran has entered into a joint venture and option agreement with Sibanye-Stillwater to earn up to an 80% interest in the Altar project.
The consideration to acquire an initial 60% interest comprises:
- An upfront cash payment of US$15 million to Sibanye-Stillwater which was paid upon the closing of the Arrangement;
- The issuance of 19.9% of the shares of Aldebaran to Sibanye-Stillwater upon closing of the Arrangement;
- Aldebaran commitment to fund the next US$30 million of expenditures on the Altar project over five years (inclusive of 2018 drilling that was conducted between February and May 2018), with a minimum of US$3 million each year;
Aldebaran has the right to earn an additional 20% interest in the Altar project by spending an additional US$25 million over a three-year period following Aldebaran's acquisition of the initial 60% interest.
See the Sibanye-Stillwater webpage for historical drill results and more information here.
