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Thursday, December 7, 2023

Altan Rio CEO Paul Stephen: Positioned to Deliver a More Than Million-ounce Discovery

Altan Rio (TSXV:AMO) has recommenced its reverse-circulation drilling program to test targets immediately below the existing pilot mine in the prolific Southern Cross greenstone belt, Western Australia.

According to Altan Rio CEO Paul Stephen, the company is drilling underneath a known body with strong evidence that it continues at depth in a similar manner to a very large mine on the same trend that goes down up to 800 meters.

Altan Rio is looking to raise C$2 million spread across a combination of Canadian and Australian investors, and about half a million dollars will be spent immediately on a drill program to deliver first results before Christmas.

The project sits on an existing haul road that goes directly to an operating mine and operating mill. This is an opportunity to replicate what companies do in Brazil with iron ore: quickly get a project into production and deliver.

“We’re actually self-funded and we can tackle some of the bigger projects, and that’s where we see the ability to deliver a plus-million-ounce type of discovery,” Stephen said. “No one has put together this whole leasehold for over 20 years. We’ve got to a position where we’ve got an arrangement with a mill, so we don’t have to go build a processing plant. I think this next round of drilling will deliver very good business cycles.”

He continued, “We’re working very hard to deliver. The bigger picture of finding the plus-million-ounce deposit and building our own mill is sort of a much larger success over a two to three year period.”

Watch the full interview of Altan Rio CEO Paul Stephen above.

Disclaimer: This interview is sponsored by Altan Rio (TSXV:AMO). This interview provides information that was sourced by the Investing News Network (INN) and approved by Altan Rio in order to help investors learn more about the company. Altan Rio is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Altan Rio and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

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