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ST. JOHN’S, Newfoundland and Labrador - Altius Minerals Corporation (TSX:ALS) (OTCQX:ATUSF), a mining royalty company with a market capitalization of approximately $55 billion, announced Thursday it has received a favorable arbitration tribunal decision regarding the scope of its royalty interests in Nevada’s Silicon gold district, also known as Arthur Gold district.
The tribunal determined that Altius’s 0.5% net smelter return (NSR) royalty extends beyond the original 26.8 square kilometer base area of interest to include additional surrounding areas totaling approximately 168.8 square kilometers. This expands Altius’s royalty coverage to approximately 195.6 square kilometers within the district.
The decision satisfies conditions in a recent sales agreement between Altius and Franco-Nevada Corporation for a 1.0% NSR royalty that triggers an additional US$25 million contingent payment to Altius after any appeal periods expire.
Altius Minerals focuses on creating shareholder growth through a diversified portfolio of royalty assets connected to long-life, high-margin operations across various sectors including mining, agriculture, and renewable energy.
The company maintains 46,315,304 common shares listed on the Toronto Stock Exchange and is included in the S&P/TSX Small Cap, S&P/TSX Global Mining Indices, and the S&P/TSX Canadian Dividend Aristocrats Index.
This article is based on information from a company press release statement.
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