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Alturas Minerals ( (TSE:ALT) ) has shared an announcement.
Alturas Minerals has announced that it will not renew its lease agreement with Sociedad Contractual Minera Resguardo for the Resguardo Copper-Gold Project in Chile due to unmet payment obligations. The company is redirecting its focus to acquiring interests in nearby properties under more favorable terms. Additionally, Alturas is negotiating a debt conversion with its officers and directors, which includes converting $660,000 into shares and writing off $2.5 million, pending TSXV approval.
More about Alturas Minerals
Alturas Minerals is a Canadian corporation with subsidiaries in Peru and Chile, focusing on mineral exploration. The company has a history of exploring mineral projects in Peru and Chile but has faced financial constraints, leading to an interruption in its activities. Alturas is now seeking new business opportunities, particularly in mining operations in Chile.
Average Trading Volume: 149,934
Technical Sentiment Signal: Sell
Current Market Cap: C$1.46M
For a thorough assessment of ALT stock, go to TipRanks’ Stock Analysis page.