Aim- and TSX-V-listed Altus Strategies has signed a nonbinding term sheet agreement with Glomin Services for a joint venture (JV) on Altus’ Lakanfla and Tabakorole gold projects, in Mali.
Once the companies come to a definitive agreement, Glomin will pay Altus about $1.5-million in cash and Altus will retain a 2.5% net smelter return royalty on the projects.