Nuton would pay another $30 million upon the delivery of a preliminary economic assessment on the Altar project, expected in the second/third quarter of 2025. The remaining $190 million would be paid to Aldebaran in 2026 once a PFS is published.
The Rio venture has the right to terminate the option agreement at any payment stage, upon which Aldebaran will retain its 80% interest in the project as well as any cash payments made prior to termination.
“This deal has many benefits to Aldebaran shareholders in that it provides for non-dilutive capital injections to fund future work programs on the Altar project through to completion of a PFS, if Nuton proceeds through each milestone,” Aldebaran CEO John Black said in a statement.
Shares of Aldebaran Resources soared to an all-time high of C$1.98 following the news, sending its market capitalization north of C$300 million for the first time since it spun out…
