Elemental Altus Partners Egyptian Gold Assets for Cash and Royalties
Elemental Altus Partners Egyptian Gold Assets for Cash and Royalties
Vancouver, British Columbia--(Newsfile Corp. - August 28, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or the "Company") announces the signing and completion of a subscription agreement ("Agreement") with In2Metals Explorer S.à r.l. ("In2Metals") in respect of Akh Gold Ltd. ("Akh Gold"). In2Metals is beneficially owned by the Egyptian Sawiris family who, through the Agreement, is underlining its commitment to invest directly and proactively into the development of Egypt's mining sector. In2metals is an affiliate of the Company's cornerstone shareholder La Mancha Investments S.à r.l. ("La Mancha").
温哥华,不列颠哥伦比亚省-(Newsfile Corp.-2023年8月28日)-Elemental Altus Royalties Corp.(TSXV:ELE)(OTCQX:ELEMF)(“元素阿尔图斯“或”公司“)宣布签署并完成认购协议(“协议”In2Metals Explorer S.ÀR.L.(“In2金属“)有关AKH Gold Ltd.(”AKH黄金)。In2Metals由埃及Sawiris家族实益拥有,通过该协议,该家族强调了其直接和积极投资于埃及采矿业发展的承诺。In2Metals是该公司基石股东La Mana Investments S.ÀR.L.()的附属公司。拉曼查“)。
Under the Agreement In2Metals has acquired an 80.1% interest in and assumed management control of the Company's subsidiary Akh Gold, through the subscription for US$10 million in new Akh Gold shares ("Subscription") over a four year period (the "Transaction"). The proceeds from the Subscription will be applied to fund exploration of Akh Gold's projects in Egypt. Elemental Altus will receive US$1.5 million in cash pursuant to the Agreement, a 1.5% Net Smelter Return ("NSR") royalty across Akh Gold's current projects in Egypt and will retain a 19.9% equity interest in Akh Gold upon completion of the US$10 million Subscription, with pro rata co-funding rights thereafter.
根据协议,In2Metals透过认购价值1,000万美元的新AKH Gold股份(“AKH Gold”),收购本公司附属公司AKH Gold的80.1%权益及承担管理控制权。订阅“)在四年内(”交易记录)。认购所得款项将用于勘探AKH Gold在埃及的项目。Elemental Altus将根据协议获得150万美元现金,冶炼厂净回报1.5%(“NSR“)AKH Gold目前在埃及的项目的特许权使用费,在完成1000万美元的认购后,将保留AKH Gold 19.9%的股权,此后将按比例共同出资。
Highlights:
重点:
- New royalties created in Egypt with US$10 million to be invested by In2Metals in Akh Gold
- Elemental Altus to receive:
- 1.5% NSR royalty on current licences and licence applications totalling 1,914km2
- Cash of US$1.1 million on closing and US$0.4 million on or before August 30, 2024
- Milestone payment of US$5 million on definition of a 3 million ounce resource
- Rights to co-fund its 19.9% equity interest in Akh Gold following the Subscription
- In2Metals selected following a competitive process with multiple potential counterparties
- In2Metals is led by Gérard de Hert, the former SVP of Exploration for Endeavour Mining and is beneficially owned by the Sawiris family
- The Sawiris family have a distinguished track record in telecoms, media, real estate and mining in Egypt and across Africa
- Through Akh Gold, Elemental Altus established a portfolio of prospective targets in Egypt:
- Channel sampling at the Wadi Dubur project includes 6.80 g/t Au over 18.0m
- Wadi Dubur is located 35km west of the Sukari gold mine of Centamin Plc
- Over 200 hard rock workings and 260km2 of alluvial workings mapped to date
- Egyptian government recently announced a framework for future exploitation agreements
- In2Metals将在埃及创造1000万美元的新特许权使用费,投资于AKH Gold
- 元素阿尔图斯将获得:
- 对现有许可证和许可证申请征收1.5%的NSR特许权使用费,总计1,914公里2.
- 成交时现金110万美元,2024年8月30日或之前现金40万美元
- 根据300万盎司资源的定义支付500万美元的里程碑付款
- 认购后为其在AKH Gold的19.9%股权提供共同资金的权利
- 在经过与多个潜在交易对手的竞争过程后选择的金属
- In2Metals由前奋进矿业勘探高级副总裁GÉRard de Hert领导,由Sawiris家族实益拥有
- 萨维里斯家族在埃及和整个非洲的电信、媒体、房地产和采矿领域有着卓越的业绩记录
- 通过AKH Gold,Elemental Altus在埃及建立了一系列潜在目标:
- Wadi Dubur项目的河道采样包括18.0米以上的6.80克/吨Au
- Wadi Dubur位于Centamin Plc Sukari金矿以西35公里处
- 200多个坚硬岩石巷道和260公里2.被映射到日期的冲积工作面的
- 埃及政府最近宣布了未来开采协议的框架
Frederick Bell, CEO of Elemental Altus, commented:
"We are delighted to undertake this royalty generation transaction with In2Metals, which is an affiliate of La Mancha and beneficially owned by the distinguished Egyptian Sawiris family. One of our core objectives for Akh Gold was to attract the strongest possible partner. We selected In2Metals following a competitive process, which included multiple potential counterparties. We believe that they have the technical expertise, industry network, regional standing and access to capital required to advance the projects in the most rapid and efficient manner, as well as attract further investment into Egypt's gold mining sector.
Elemental Altus首席执行官弗雷德里克·贝尔评论道:
我们很高兴与In2Metals进行这笔特许权使用费交易,In2Metals是La Mana的附属公司,由著名的埃及Sawiris家族实益拥有。我们AKH Gold的核心目标之一是吸引尽可能强大的合作伙伴。我们经过竞争过程选择了In2Metals,其中包括多个潜在的交易对手。我们相信,他们拥有以最快和最高效的方式推进项目所需的技术专长、行业网络、地区地位和获得资金,并吸引更多投资到埃及的黄金开采行业。
"In addition to receiving US$1.5 million in cash and retaining a 19.9% equity interest in Akh Gold, the transaction creates a significant 1.5% NSR royalty across 1,914km2 of licences and licence applications in Egypt. The Eastern Desert is underlain by prospective Arabian-Nubian geology and hosts several notable gold discoveries. These include the 14-million-ounce Sukari open pit and underground gold mine, operated by Centamin plc which is located approximately 35km from Akh Gold's Wadi Dubar project. This transaction further underscores our capacity to generate royalties and realise value in frontier gold belts and follows our recent royalty generation transactions in Mali and Ethiopia. Following the completion of these transactions Elemental Altus will not have any active funding commitments to, or substantial costs associated with, generative activities."
除了获得150万美元的现金并保留AKH Gold 19.9%的股权外,这笔交易还在1,914公里范围内产生了1.5%的NSR特许权使用费2.关于埃及的许可证和许可证申请。东部沙漠被潜在的阿拉伯-努比亚地质所覆盖,并拥有几个著名的金矿发现。其中包括1,400万盎司的Sukari露天和地下金矿,由Centamin plc运营,距离AKH Gold的Wadi Dubar项目约35公里。这笔交易进一步突显了我们在边境金矿带产生特许权使用费和实现价值的能力,以及我们最近在马里和埃塞俄比亚进行的特许权使用费生成交易。在这些交易完成后,Elemental Altus将不会有任何积极的资金承诺,也不会有与之相关的巨额成本。“
Gérard de Hert, CEO of In2Metals, commented:
"We are delighted to make this initial investment in Egypt's gold mining sector through our strategic transaction with Elemental Altus. The Sawiris family will directly increase their control over the exploration activities in Egypt by funding the next stages of exploration, and will hold an initial 80.1% interest in Akh Gold. In2Metals intends to quickly advance the prospective portfolio of projects through drilling with its talented team. We believe that Akh Gold is well positioned to make new discoveries which we hope will ultimately contribute to the realisation of Egypt's resource potential. Furthermore, with the recent announcement by the Ministry of Petroleum that a framework has been agreed with Barrick Gold Corp and Centamin Plc on the key commercial, fiscal, and legal terms for future Exploitation Agreements, we believe that Egypt's mining sector is now well positioned to attract long term international investment."
In2Metals首席执行官GÉRard de Hert评论道:
我们很高兴通过我们与Elemental Altus的战略交易对埃及的黄金采矿业进行这笔初始投资。Sawiris家族将通过为下一阶段的勘探提供资金,直接增加他们对埃及勘探活动的控制,并将持有AKH Gold最初80.1%的权益。In2Metals打算通过与其才华横溢的团队进行钻探,迅速推进预期的项目组合。我们相信,AKH Gold处于有利地位,将做出新的发现,我们希望这些发现最终将有助于实现埃及的资源潜力。此外,鉴于石油部最近宣布已与巴里克黄金公司和Centamin Plc就未来开采协议的关键商业、财政和法律条款达成框架,我们相信埃及的采矿业现在处于有利地位,可以吸引长期的国际投资。“
The Transaction constitutes a related party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, the transaction is exempt from the formal valuation requirement of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101, and is exempt from the minority shareholder approval requirement of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(a) of MI 61- 101 as the fair market value of the transaction is not more than 25% of Elemental Altus' market capitalization.
该交易构成多边文书61-101所界定的关联方交易-特殊交易中少数股权持有人的保护(“MI 61-101然而,根据MI 61-101第5.5(B)节的规定,该交易豁免遵守MI 61-101第5.4节的正式估值要求,并且根据MI 61-101第5.7(1)(A)节的规定豁免遵守MI 61-101第5.6节的小股东批准要求,因为交易的公平市值不超过Elemental Altus市值的25%。
Frederick Bell
CEO and Director
弗雷德里克·贝尔
首席执行官兼董事
Corporate & Media Inquiries:
Jacy Zerb, VP Investor Relations
Direct: +1 604-243-6511 ext. 2700
j.zerb@elementalaltus.com
企业和媒体查询:
Jacy Zerb,投资者关系副总裁
直拨:+1 604-243-6511分机。2700
邮箱:j.zerb@elementalaltus.com
Elemental Altus is a proud member of Discovery Group. For more information please visit: or contact 604-653-9464.
Elemental Altus是探索集团的骄傲成员。欲了解更多信息,请访问:或联系604-653-9464。
TSX.V: ELE | OTCQX: ELEMF | ISIN: CA28619K1093 | CUSIP: 28619K109
TSX.V:ELE|OTCQX:ELEMF|ISIN:CA28619K1093|CUSIP:28619K109
About Elemental Altus Royalties Corp.
Elemental Altus is an income generating precious metals royalty company with 10 producing royalties and a diversified portfolio of pre-production and discovery stage assets. The Company is focused on acquiring uncapped royalties and streams over producing, or near-producing, mines operated by established counterparties, as well as generating royalties on new discoveries. The vision of Elemental Altus is to build a global gold royalty company, offering investors superior exposure to gold with reduced risk and a strong growth profile.
Elemental Altus版税公司简介
Elemental Altus是一家创收的贵金属特许权使用费公司,拥有10个生产特许权使用费和多元化的生产前和发现阶段资产组合。该公司专注于获得无上限的特许权使用费和由老牌交易对手运营的生产或接近生产的矿山的特许权使用费,以及为新发现的矿藏产生特许权使用费。Elemental Altus的愿景是建立一家全球黄金特许权公司,为投资者提供更好的黄金敞口,降低风险和强劲增长。
Qualified Person
Steven Poulton, Executive Chairman for Elemental Altus, and a qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.
有资格的人
Elemental Altus执行主席Steven Poulton是美国国家标准43-101-矿物项目披露标准的合格人员,他已审查并批准了本新闻稿中包含的科学和技术披露。
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V.) accepts responsibility for the adequacy or accuracy of this press release.
多伦多证券交易所-V及其监管服务提供商(该术语在多伦多证券交易所-V的政策中定义)对本新闻稿的充分性或准确性承担责任。
Cautionary note regarding forward-looking statements
This news release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology.
有关前瞻性陈述的警示说明
本新闻稿包含某些根据适用的加拿大证券法定义的“前瞻性陈述”和某些“前瞻性信息”。前瞻性陈述和信息一般可通过使用“可能”、“将”、“应该”、“预期”、“打算”、“估计”、“预期”、“相信”、“继续”、“计划”或类似术语来确定。
Forward-looking statements and information include, but are not limited to, the use of the proceeds of the Subscription, the future growth, development and focus of Akh Gold, the successful advancement of Akh Gold's projects, and the acquisition of new royalties and streams. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.
前瞻性陈述和信息包括但不限于认购收益的使用,AKH Gold的未来增长、发展和重点,AKH Gold项目的成功推进,以及获得新的特许权使用费和收入。前瞻性陈述和信息基于对未来结果的预测、对尚不能确定的数额的估计以及假设,尽管管理层认为这些假设是合理的,但这些假设本身就受到重大商业、经济和竞争不确定性和意外事件的影响。
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental Altus to control or predict, that may cause Elemental Altus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental Altus will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not be consistent with Elemental Altus' expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of the Company for the year ended December 31, 2022. Elemental Altus undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represents management's best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
前瞻性陈述和信息受各种已知和未知的风险和不确定性的影响,其中许多风险和不确定性超出Elemental Altus的控制或预测能力,可能导致Elemental Altus的实际结果、业绩或成就与其中明示或暗示的结果、业绩或成就大不相同,并且是基于对此类风险、不确定性和本文所述其他因素的假设而制定的,这些因素包括但不限于:一般商业和经济状况的影响、对Elemental Altus将获得特许权使用费的采矿作业缺乏控制、与国际业务、政府关系和环境法规有关的风险、与矿产资产勘探和开发有关的固有风险;解释勘探数据涉及的不确定性;勘探或开发活动可能推迟;矿藏的地质、品位和连续性;新冠肺炎大流行病的影响;未来勘探、开发或采矿结果与Elemental Altus公司预期不符的可能性;事故、设备故障、所有权问题、劳资纠纷或其他意想不到的经营困难或中断;金属价格波动;意想不到的成本和费用;与未来所需融资的可用性和成本有关的不确定性;生产和成本估计的固有不确定性以及可能产生意外成本和费用的可能性;大宗商品价格波动;货币波动;监管限制,包括环境监管限制;责任、竞争、关键员工流失以及其他相关风险和不确定性。有关可能导致实际结果与前瞻性陈述不同的重要因素的讨论,请参阅公司截至2022年12月31日的年度信息表。除非适用法律要求,Elemental Altus不承担更新前瞻性陈述和信息的义务。此类前瞻性陈述和信息代表管理层根据现有信息作出的最佳判断。任何前瞻性陈述或信息都不能得到保证,未来的实际结果可能大不相同。因此,建议读者不要过度依赖前瞻性陈述或信息。
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