Altar Project: Aldebaran reports that Nuton Will Make Second Payment in Option Agreement

Altar Project: Aldebaran reports that Nuton Will Make Second Payment in Option Agreement
Altar Project: Aldebaran reports that Nuton Will Make Second Payment in Option Agreement
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On December 23, Aldebaran Resources Inc. announced that Nuton Holdings Ltd., a Rio Tinto venture, has confirmed it will make the second payment (US$20 Million) pursuant to the Option to Joint Venture Agreement with Aldebaran announced on November 7, 2024. Aldebaran anticipates receiving the payment in early January 2025.

By Panorama Minero

Transaction Details

Aldebaran entered into an Option to Joint Venture Agreement with Nuton, whereby Nuton has the exclusive right to acquire a 20% interest in the Altar project (Cu-Au project located in San Juan province) by making the following payments:

• US$10 Million upon signing (paid)
• US$20 Million upon delivery of an updated mineral resource estimate (payment confirmed)
• US$30 Million upon delivery of a Preliminary Economic Assessment
o PEA expected to be completed in Q2-2025
• US$190 Million upon delivery of a Pre-Feasibility Study
o PFS expected to be completed in H2-2026

Published by: Panorama Minero

Category: News

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