La Serena, Chile
Farellon and Maria Luisa
On January 3, 2017, Altiplano announced that it had entered a joint venture agreement (“CJV”) with the Australian private company, Comet Exploration Ltd. (“Comet”), to explore two copper-gold projects called Farellon and Maria Luisa, which are located near the town of La Serena, Republic of Chile (collectively, the “Projects”). On November 22, 2017, Altiplano announced that it had earned an initial 50% interest in the Projects by funding US$2,000,000 in project expenditures under the CJV with Comet as Operator.
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.