Altius Minerals has made a non-binding proposal to acquire the rest of TNR Gold, according to a source passage describing the approach. Altius is already a shareholder of TNR Gold with roughly a 12.7% stake, the passage states. The proposal is non-binding, and Altius has entered into exclusivity while a special committee evaluates it. No financial amount for the proposed acquisition was disclosed in the sources.
The same source describes the approach as continued interest in TNR Gold from Altius, which it calls a royalty company, and characterizes it as validation of TNR Gold's green energy metals royalty and gold strategy as first cash flow approaches.
The source lists TNR Gold's assets as a net smelter return royalty on Mariana Lithium, held by Ganfeng; a net smelter return royalty on Los Azules Copper, associated with McEwen, Rio Tinto and Stellantis; a net profits royalty on Batidero I and II and Josemaria, associated with Lundin and BHP; and a 90% interest in Shotgun Gold in Alaska.
The transaction is at the announced stage. Altius has proposed the acquisition and the target's special committee is evaluating it; no agreement has been completed.