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ALT Resources PLC (ALTR) announced on 01 May 2025 that it will not proceed with the previously announced acquisition of a near-producing gold mining royalty, as the long stop date of 18 April 2025 has passed. The Company is now progressing other opportunities in its pipeline of activities and continues to plan for admission to trading on AIM concurrent with the completion of a new proposed acquisition.
| Date | 1 May 2025 |
| Time | 07:00:07 |
| Category | Miscellaneous |
| ID | 9262G |
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
ALT Resources PLC
("ALTR" or the "Company")
Gold Royalty Transaction not concluded - Long Stop Date Passed
Additional Pipeline Activities Progressing
Further to its announcement of 24 February 2025, ALTR, the mining royalty, and streaming company announces that the long stop date of 18 April 2025 to acquire a near-producing gold mining royalty (the "Proposed Acquisition") has now passed. Therefore, the Company is no longer moving forward with the Proposed Acquisition. However, the Company is progressing other opportunities in its pipeline of activities ("Pipeline Acquisitions"). Completing one or more of the Pipeline Acquisitions will be subject to certain conditions, including, inter alia, due diligence, legal documentation, and fundraising.
The Company still plans to seek admission of the Company's entire issued and to be issued share capital to trading on AIM concurrent with the completion of a new proposed acquisition.
Prad Mazumder, Director of ALTR, commented:
"We were disappointed not to have concluded our original transaction due to significant and unexpected changes in market conditions at the time of closing. However, other opportunities in our portfolio became more attractive, and therefore, we have decided to pursue these other opportunities more aggressively to minimise any delay in listing the Company. These investments are expected to be value accretive to the Company's shareholders, as we believe they will generate significant revenues in the near-term and lock in high net asset values for ALTR."
Further updates regarding pipeline acquisitions will be made in due course.
For further information:
ALT Resources PLC [email protected]
Prad Mazumder, Director
Celicourt Communications +44 207 770 6424 / [email protected]
Mark Antelme / Jimmy Lea