La Serena, Chile
Farellon and Maria Luisa
In December of 2017, Altiplano became the Operator of the CJV and signed an agreement with Comet to acquire all of Comet’s remaining 50% interest in the CJV, which will result in APN holding a 100% undivided interest in the projects and termination of the CJV upon closing. Comet is a private Australian exploration and development company with a focus in Chile principally in base metal and gold projects, held through its Chilean subsidiary. Pursuant to that agreement, Altiplano may earn up to an initial 50% interest in the Comet Joint Venture “CJV” by funding an aggregate of US$2,000,000. In November of 2017, Altiplano fulfilled it’s obligations under the original agreement.
In December of 2017, Altiplano acquired all of Comet’s remaining 50% interest in the CJV resulting in a 100% undivided interest in the projects. Altiplano is now the operator of the projects, and the CJV is effectively terminated.