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ALTAMIN LIMITED — Capital/Financing Update 2021
Mar 3, 2021
64488_rns_2021-03-03_f67422a0-489b-422f-96cb-20f34b555877.pdf
Capital/Financing Update
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ASX Announcement
3 March 2021
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SALE OF PATERSON PROJECT TENEMENT
Alta Zinc Limited (Alta or the Company) (ASX: AZI) is pleased to announce that it has entered into an agreement to sell the Paterson Project exploration tenement (E45/4543) in Western Australia, held by its wholly owned subsidiary Nickelex Pty Limited, to AIM-listed Wishbone Gold PLC (Wishbone).
Under the agreement, at completion Alta will be issued 600,000 fully paid ordinary shares in Wishbone and be entitled to receive a 1% net smelter royalty from Wishbone on all minerals mined and sold from the tenement.
Geraint Harris, MD of Alta Zinc commented:
“This is an excellent outcome for Alta as our key focus is firmly on our Italian projects, namely our flagship Gorno Zinc Project and the Punta Corna Cobalt Project. We have now divested all of our Australian-based exploration assets so that our management time and expenditure can be directed exclusively on these priorities.
The Paterson Project can now have the focus it deserves from Wishbone Gold while Alta shareholders retain upside exposure through the equity capital in Wishbone and also the royalty.”
Authorised for ASX release by the Alta Zinc Board.
For further information, please contact:
Geraint Harris Managing Director Alta Zinc Limited [email protected]
For other enquiries contact: Adam Miethke Discovery Capital Partners [email protected]
Alta Zinc Limited | ASX Code AZI | ABN 63 078 510 988
Level 3, Suite 3.5, 9 Bowman Street, South Perth, WA 6151, Australia Email: [email protected] | Tel: +61 (0)8 9321 5000 | Fax: +61 (0)8 9321 7177 Website: www.altazinc.com
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