Latest news with #Altius
Business Insider
2 days ago
- Business
- Business Insider
Franco-Nevada acquires 1.0% NSR on AngloGold's Arthur Gold Project, Nevada
Franco-Nevada's (FNV) wholly-owned subsidiary has acquired an existing 1.0% net smelter return royalty, or NSR, on AngloGold's (AU) Arthur Gold Project from Altius Minerals Corporation (ATUSF) for $250M in cash, plus a contingent cash payment of $25M payable subject to the achievement of certain conditions. The ongoing drill program expanded the resource by 20% year over year, taking the most recently stated gold Mineral Resource base to 3.4 million ounces of Indicated Mineral Resources and 12.9 million ounces of Inferred Mineral Resources. The Arthur Gold Project has Mineral Resource base across the Merlin and Silicon deposits for a total of 3.4 Moz of gold Indicated Mineral Resources and 12.9 Moz of gold Inferred Mineral Resources. AngloGold has completed 430 km of drilling as of year-end 2024, inclusive of 132 km of drilling completed in 2024. AngloGold is currently focused on advancing a PFS for the project with expected completion by the end of 2025 or early 2026. Funding of the transaction was completed with cash on hand, and a $175M draw from the company's $1B corporate credit facility. Altius holds the remaining 0.5% NSR royalty, with respect to which Franco-Nevada has been granted certain pre-emptive rights on a sale by Altius. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Business Wire
2 days ago
- Business
- Business Wire
Altius Completes Sale of 2/3 of its Silicon Gold 1.5% NSR to Franco-Nevada
ST. JOHN'S, Newfoundland and Labrador--(BUSINESS WIRE)-- Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF) Altius Minerals Corporation ('Altius') is pleased to announce that Altius Royalty Corporation ('ARC'), a wholly-owned subsidiary of Altius, has completed the sale of a 1% NSR royalty covering the Silicon and Merlin gold deposit discoveries in Nevada ('1% NSR Silicon Royalty') to a wholly owned subsidiary of Franco-Nevada Corporation ('Franco-Nevada') (TSX & NYSE: FNV) ('The Transaction'), pursuant to a royalty purchase agreement entered into by ARC and Franco-Nevada (the 'Agreement'). ARC will continue to hold a remaining 0.5% NSR royalty interest in Silicon (recently renamed to the Arthur Gold Project by AngloGold Ashanti plc ('AGA') as a long-term component of its diversified portfolio. The purchase price for the 1% NSR Silicon Royalty interest is US$ 275 million (~ C$ 375 million) comprised of US$ 250 million in upfront cash paid at closing and a further payment of US $25 million in cash payable upon the conclusion of an ongoing arbitration process that confirms the area subject to the royalty under final award to be consistent with Altius's interpretation of the partial award of the arbitration tribunal that was issued and reported on earlier this year. The Board of Directors of Altius has received a fairness opinion from Cormark Securities Inc. which opinion concluded that, based upon and subject to the assumptions made, procedures followed, matters considered, limitations and qualifications set out therein, the consideration to be received by ARC pursuant to the Transaction is fair, from a financial point of view, to ARC. Brian Dalton, CEO of Altius commented, 'We are pleased to partner with Franco-Nevada on this royalty, which encompasses AGA's world-class Silicon and Merlin gold deposit discoveries in Nevada, as well as extensive areas of prospective surrounding land. The Transaction crystallizes significant value for shareholders while further demonstrating the ability of Altius's Project Generation business to amplify the return profile of its overall royalty investment portfolio. The decision to retain a third of our Silicon royalty interest also provides continuing growth exposure to this emerging gold district, while confirming the addition of precious metals as a long-term, well-balanced component of our shareholder's diversified royalty portfolio. We now look forward to the ability to explore a wider set of capital allocation and deployment opportunities, facilitated by a considerably strengthened balance sheet and liquidity profile, and to further growing shareholder value.' Anticipated Benefits to Altius Shareholders Capital Allocation Opportunities Cash, after taxes and fees, expected to increase to more than C$ 360 million (assumes up front and further payment proceeds from this Transaction and also from the recent acquisition of Orogen Royalties Inc. by Triple Flag Precious Metals Corp.) Total liquidity increased to more than C$ 540 million (including C$ 116 million available under a revolving credit facility and C$ 62.5 million potentially available under an accordion feature) Creates enhanced flexibility to evaluate external M&A opportunities while limiting equity level dilution of existing assets and the embedded growth potential of our portfolio Improves ability to opportunistically increase per share exposure to existing royalty interests through share repurchases Retained Royalty Exposure Continuing optionality exposure to gold resource growth 1 from current ~16 Moz resource estimate at the Arthur Gold Project, as AGA continues aggressive exploration and delineation drilling programs and the reporting of encouraging results Achieves rebalance of commodity exposures while confirming precious metals and another tier-1 quality royalty as components of Altius's long-term, diversified portfolio. For further information, please see the updated Altius corporate presentation posted to the website at 1 See Expanded Silicon Project Update presentation Financial and Legal Advisors Cormark Securities Inc. is acting as financial advisor to Altius. Stikeman Elliott LLP is acting as legal counsel to Altius and ARC. About Altius Altius's strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with global growth trends including increasing electricity based market share within energy usage, global infrastructure build and refurbishment growth, increased EAF based steelmaking, steadily increasing agricultural fertilizer requirements and the enhanced appetite for financial asset diversification through precious metals ownership. These macro-trends each hold the potential to cause higher demand for many of Altius's commodity exposures including potash, high purity iron ore, renewable energy, base metals, and gold . In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for royalties and that has a demonstrated track record of driving outsized direct returns from its overall royalty investment portfolio. Altius has 46,315,304 common shares issued and outstanding that are listed on Canada's Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices and the S&P/TSX Canadian Dividend Aristocrats Index. Forward Looking Information This news release contains forward-looking information. The statements are based on reasonable assumptions and expectations of management and Altius provides no assurance that actual events will meet management's expectations. The information in this news release about the any anticipated benefits of the transaction to Altius Shareholders, timing and results of the ongoing arbitration process in respect of the Silicon royalty and possibility of ARC being paid contingent consideration of US$25 million following conclusion thereof, and any other information herein that is not a historical fact may be forward looking information. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. Altius does not undertake to update any forward-looking information contained herein except in accordance with securities regulations.
Yahoo
10-07-2025
- Business
- Yahoo
Neuros Medical raises $56m to commercialise nerve stimulation system in US
Neuros Medical has raised $56m in a Series D funding round to support the US commercialisation and further development of its Altius direct electrical nerve stimulation system. The solution is intended for treating intractable, chronic post-amputation pain in adult amputees. The oversubscribed funding round was spearheaded by new investor EQT Life Sciences, with contributions from current investors such as US Venture Partners, Osage University Partners, Amzak Health, Aperture Venture Partners, and Sectoral Asset Management. EQT Life Sciences advisory team partner Fouad Azzam said: "Neuros Medical is addressing one of the most urgent and overlooked challenges in chronic pain management. 'EQT believes Altius has the potential to significantly improve the quality of life for amputees, and we are proud to partner with this team to bring the therapy to market." According to Neuros, up to 80% of amputees suffer from post-amputation pain, including phantom limb and residual limb pain. The system operates by using a nerve cuff electrode that is positioned around an affected nerve and an implantable pulse generator. This patient-controlled system allows individuals to begin a 30-minute treatment session when required, directly targeting the site of nerve pain for relief. It leverages Neuros' patented technology to inhibit the transmission of pain signals from damaged peripheral nerves to the central nervous system. Neuros Medical CEO and president David Veino said: "I would like to thank our new and existing investors for their support in our mission to relieve pain and restore life for the millions of people suffering from chronic post-amputation pain. "This funding round is a strong validation of the unmet medical need in the amputee community and allows us to scale our commercial operations to expand access to this breakthrough technology, while equipping healthcare professionals with a non-opioid solution and support they need to deliver the highest standard of care." Last year, the US Food and Drug Administration (FDA) approved the nerve stimulation system to treat the pain associated with phantom limbs and post-amputation procedures. "Neuros Medical raises $56m to commercialise nerve stimulation system in US" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Irish Sun
08-07-2025
- The Irish Sun
Humiliating moment Putin's giant new five-tonne AI war drone smashes into RUSSIAN house in fiery blunder on test mission
THIS is the humiliating moment a hulking six-tonne Putin drone "guided by AI" crash landed on a Russian house during a test mission. The Altius unmanned plane with a giant 94ft wingspan hit and destroyed a home on the outskirts of Kazan, southwest Russia after suffering a "navigation failure". Advertisement 3 A long-range Altius reconnaissance and strike drone Credit: East2West 3 The drone crashed into a Russian house Credit: East2West 3 The device suffered from a 'navigation' failure Credit: East2West The reconnaissance drone - with a range of 6,200 mile range - was on a test flight for possible use in Ukraine. But it all went wrong when the AI system navigating the plane reportedly stopped working and the drone landed on a Russian civilian home instead. Miraculously, no-one was hurt. Terrifying footage shows the device travelling overhead before panning to the burning home. Advertisement Read more on World Giant flames are pictured engulfing the scorched residence as locals watch with horror. Billowing black smoke fills the air as charred debris and rubble covers the ground and surrounding trees. Residents escaped injury as the long-range UAV smashed into their house, and then scrambled to put out the fire before the emergency services arrived. Developers blamed 'unidentified electronic warfare equipment' for the navigation failure which occurred just under a mile away from Kazan Gorbunov Aircraft Plant. Advertisement Most read in The US Sun The drone can hold a precision-guided bomb or missile payload. An eyewitness said: 'At first, we didn't even think it was a plane. Bloodthirsty Putin hits Ukraine with almost 1,000 missiles a DAY as he faces his biggest dilemma yet 'But when we saw the wing, we understood everything.' This type of monster drone has been in service with the Russian military since 2021 but there is no record of it so far being deployed in the war in Ukraine. Advertisement The failed drone attack comes as Russia increases its blitz on Ukraine, hammering the country with 1,000 drones and missiles every day. Yesterday, was the second On June 1, a 479-strong wave of drones and missiles became Advertisement June 9 saw that broken with 499, then again on June 29 with 537. And finally, just last Friday, Putin terrorised Kyiv with a firestorm of 550 drones and missiles - just as he and Trump finished a phone call. Russia's defence industry is ballooning as projects come to fruition - such as an expanded missile plant in Votkinsk and rapidly expanding supply chains. With an expanding arsenal, the size of Russia's regular salvos look set only to increase - meaning they could soon nudge 1000 weapons per day. Advertisement
Scottish Sun
08-07-2025
- Politics
- Scottish Sun
Humiliating moment Putin's giant new five-tonne AI war drone smashes into RUSSIAN house in fiery blunder on test mission
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THIS is the humiliating moment a hulking six-tonne Putin drone "guided by AI" crash landed on a Russian house during a test mission. The Altius unmanned plane with a giant 94ft wingspan hit and destroyed a home on the outskirts of Kazan, southwest Russia after suffering a "navigation failure". Sign up for Scottish Sun newsletter Sign up 3 A long-range Altius reconnaissance and strike drone Credit: East2West 3 The drone crashed into a Russian house Credit: East2West 3 The device suffered from a 'navigation' failure Credit: East2West The reconnaissance drone - with a range of 6,200 mile range - was on a test flight for possible use in Ukraine. But it all went wrong when the AI system navigating the plane reportedly stopped working and the drone landed on a Russian civilian home instead. Miraculously, no-one was hurt. Terrifying footage shows the device travelling overhead before panning to the burning home. Giant flames are pictured engulfing the scorched residence as locals watch with horror. Billowing black smoke fills the air as charred debris and rubble covers the ground and surrounding trees. Residents escaped injury as the long-range UAV smashed into their house, and then scrambled to put out the fire before the emergency services arrived. Developers blamed 'unidentified electronic warfare equipment' for the navigation failure which occurred just under a mile away from Kazan Gorbunov Aircraft Plant. The drone can hold a precision-guided bomb or missile payload. An eyewitness said: 'At first, we didn't even think it was a plane. Bloodthirsty Putin hits Ukraine with almost 1,000 missiles a DAY as he faces his biggest dilemma yet 'But when we saw the wing, we understood everything.' This type of monster drone has been in service with the Russian military since 2021 but there is no record of it so far being deployed in the war in Ukraine. The failed drone attack comes as Russia increases its blitz on Ukraine, hammering the country with 1,000 drones and missiles every day. Yesterday, was the second massive assault in the four days since Trump's call with Putin, and represents a brazen defiance of the President's peace agenda. Moscow's firepower capacity is constantly increasing and his forces have regularly broken the record for the largest daily volley of weapons in recent weeks. On June 1, a 479-strong wave of drones and missiles became Russia's largest unmanned aerial assault of the war. June 9 saw that broken with 499, then again on June 29 with 537. And finally, just last Friday, Putin terrorised Kyiv with a firestorm of 550 drones and missiles - just as he and Trump finished a phone call. Russia's defence industry is ballooning as projects come to fruition - such as an expanded missile plant in Votkinsk and rapidly expanding supply chains. With an expanding arsenal, the size of Russia's regular salvos look set only to increase - meaning they could soon nudge 1000 weapons per day.
