REG - ALT Resources PLC - Company Strategy Update

Alt ResourcesAnnouncement

29/10/2024 07:00

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RNS Number : 9422J  ALT Resources PLC  29 October 2024

29 October 2024

ALT Resources PLC

("ALTR" or the "Company")

Company Strategy Update

ALTR (LSE: ALTR), a company formed to capture opportunities in the natural
resources industry, is pleased to announce that, following a period of
discussions with key stakeholders, the Board of Directors has decided to
expand the acquisition strategy of the Company beyond its current sectoral
focus.

In its prospectus for the admission of its ordinary shares to the Official
List and to trading on the London Stock Exchange's main market for listed
securities, published on 28 January 2022, the Company set out certain criteria
for the purpose of reviewing and evaluating potential acquisition
opportunities, which together comprised its acquisition strategy ("Acquisition
Strategy"). One of the criteria was a sectoral focus, which stated that the
Company intended to focus on opportunities in the upstream oil and natural gas
sector, with a particular emphasis on producing assets that require additional
investment to increase the production and reserves base. This focus partly
relied on the then-constituted Board of Directors, who collectively had
significant experience in this sector.

Pursuant to the Acquisition Strategy, the Company stated that it would also
focus on opportunities that would provide the Company with an economic
interest (by equity, royalty, or debt participation) and a control interest
(through board, technical committee, and/or management positions) whose
potential value, over the long term, is greater than the acquisition costs
incurred by the Company.

Further to the announcements made by the Company on 13 September 2024 and 17
September 2024, the Company now enjoys the benefit of the additional natural
resources experience of Prad Mazumder. Given the additional experience and
sector focus that Prad has brought to the Company, specifically in the
precious metals and critical minerals mining sector, the Company is pleased to
announce that it has decided to broaden its sectoral focus to include
opportunities within these sectors. Save for broadening the sectoral focus,
the Company will continue to seek opportunities that meet the criteria of its
Acquisition Strategy, as set out in its prospectus.

 

Paul Welch, ALTR's Chairman, said:

 

"Given the recent name change and our partnership with Tristream Resources, as
a provider of alternative financing to mid-market natural resources companies,
we are pleased to announce the expansion of our sectoral focus. Since Prad
joined the board, we have received an increasing number of precious metals
opportunities. Many of these opportunities meet our criteria for investment,
particularly those that offer long-term accretive value for our shareholders.
Given the addition of Prad's sector-specific experience to the board, we
decided that it was the appropriate time to broaden our sectoral focus. We are
currently reviewing several opportunities that offer value accretive
propositions, and I look forward to updating shareholders once we have
identified an opportunity that we wish to execute."

 

 

For further information:

 

www.altresources.co.uk (http://www.altresources.co.uk)

 

ALT Resources plc:

Paul Welch, Chairman

stacey@altresources.co.uk (mailto:stacey@altresources.co.uk)

 

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