Altamin Limited (ASX: AZI) has completed the acquisition of Appian Italy B.V.'s 29.85% stake in Vedra Metals Srl, gaining full ownership of Vedra and the Gorno Project. Regulatory approvals in Italy have been secured, and Altamin's wholly-owned subsidiary, Energia Minerals (Italia) S.r.l., settled the nominal initial consideration of €1.00.
The new ownership structure enables Altamin to pursue value realisation through the sale or strategic interest in Vedra or the Gorno Project. Appian retains rights to 15% of net proceeds or a US$10 million royalty if a sale occurs. Altamin continues environmental impact assessments for the CIME exploration permit, which are critical to advancing the Mining Licence application. Following the EIA's completion, the application is projected to be submitted by June 2025. This acquisition streamlines the Gorno Project's progression toward commercial production and strengthens its position for strategic opportunities.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
