Aldebaran Resources announces it has earned a 60% interest in Altar Project

Aldebaran Resources announces it has completed the $30M in expenditures required to earn a 60% interest in the Altar copper-gold project pursuant to its joint venture agreement with Sibanye-Stillwater. Additionally, the Company has notified Sibanye-Stillwater that it intends to proceed with the second option to spend US$25 million over a three-year period to acquire an additional 20% interest in the Altar project. Upon completion of the second option, Aldebaran will own an 80% interest in the Altar project while Sibanye-Stillwater will own a 20% interest. As of June 30, 2023, the Company has spent approximately US$38 million on the project. John Black, Chief Executive Officer of Aldebaran, commented as follows: “We’re happy to report that we’ve officially earned a 60% interest in the Altar project and are on our way to earning an eventual 80% interest. When we picked up this project in 2018, we understood that it had immense potential; however, it has exceeded our expectations on several fronts. Altar represents one of the largest undeveloped copper projects in the world, and we are excited to continue to unlock its potential to help supply necessary copper resources to fuel the worldwide green energy revolution.”