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Altius Minerals Provides 2nd Quarter 2019 Project Generation Update
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (“Altius” or the “Company”) (ALS:TSX) (ATUSF:OTCQX) is pleased to provide an
About this update from Altius Minerals Corporation
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (“Altius” or the “Company”) (ALS:TSX) (ATUSF:OTCQX) is pleased to provide an update on its Project Generation (“PG”) business activities and performance of its related junior equities portfolio for the second quarter of 2019. The market value of the portfolio at June 30, 2019 was $53.7 million, compared to $60.7 million at March 31, 2019, with the difference mainly attributable to the sale of $7.7 million in holdings during the quarter. The cash generated by these sales was largely directed to discretionary debt repayments. An updated list of the public equity holdings will be posted to the Altius website at: Click Here. Portfolio Companies and Project Updates to early July 2019 Adventus Mining Corporation (ADZN:TSXV) (“Adventus”) released excellent results from a preliminary economic assessment (“PEA”) for the El Domo copper-rich polymetallic deposit that is part of its Curipamba Project in Ecuador. It also completed a significant equity financing that was led by a subsidiary of the Nobis Group, which is a successful and highly regarded Ecuadorian conglomerate. (see press releases at: Click Here and Click Here.) Adventus intends further advancement of the El Domo deposit as well as the potential drill testing of additional discovery targets at the Curipamba, Santiago and Pijili projects during the remainder of 2019. Altius is the largest shareholder of Adventus and holds a 2% NSR royalty over the Curipamba Project. In May 2019 Altius completed a $1.4 million private placement financing with Renaissance Gold (REN:TSXV) (“RenGold”) increasing its shareholding to 9.9%. RenGold is a US based project generator with a strong record of attracting high quality funding partners to its projects. RenGold recently summarized the exploration programs that it expects partners to fund on eight of its projects during the current field season (see press release at: Click Here) . In addition to its equity stake, Altius has direct royalty exposure to certain of RenGold’s Nevada projects, including a 1.5% NSR royalty covering the Silicon project where a new gold discovery is being advanced by RenGold optionee Anglogold Ashanti Limited. In June Allegiance Coal (AHQ:ASX) (“Allegiance”) announced a $2.65 million financing to fund the continuance of the permitting...