Aldebaran Resources (ADBRF) announced that Nuton Holdings, a Rio Tinto (RIO) venture, has confirmed it will make the second payment pursuant to the Option to Joint Venture Agreement with Aldebaran announced on November 7, 2024. Aldebaran anticipates receiving the payment in early January 2025. 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 by making the following payments: $10 Million upon signing; $20 Million upon delivery of an updated mineral resource estimate; $30 Million upon delivery of a Preliminary Economic Assessment; PEA expected to be completed in Q2-2025; $190 Million upon delivery of a Pre-Feasibility Study; PFS expected to be completed in H2-2026.
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Read More on ADBRF:
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- Aldebaran Launches New Drilling Phase at Altar
- Aldebaran announces commencement of 2024/2025 Altar project field program
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