Mining project generator Altus Strategies said it had extended a joint venture with Resolute Mining in southern Mali extended by two years to May 2021.
Resolute would earn an initial 70% interest by funding $3M in exploration and by completing a feasibility study.
Altus retained option to co-fund its 30% interest on a pro rata basis or exchange its interest for a 2% net smelter return royalty.
Drilling by Resolute was currently underway at the Pitiangoma Est project.
At 2:51pm: (LON:ALS) Altus Strategies Plc share price was +0.1p at 4.25p