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Mining Weekly reported Altius Resources (TSE:ALS) has an accord with Century Mining (CVE:CMM) to exchange some iron-ore properties for royalties.
Mining Weekly reported Altius Resources (TSX:ALS) has an accord with Century Mining (TSXV:CMM) to exchange some iron-ore properties for royalties.
The market news is quoted as saying,
As part of the deal, Century has also agreed to spend a minimum of $7-million on each project and issue Altius five-million shares over the next five years.
Altius’ royalties on the properties, which span 1 647 square kilometres, will on a gross sales basis and have a 1% to 4% sliding scale.