2515: TNR Gold’s successful strategy highlighted by Altius approach

Altius has moved from a 9.9% stake to a non-binding proposal to acquire TNR Gold, with a shareholder vote expected in December.

• Altius stake and proposal: Royalty giant Altius bought 9.9% of TNR Gold for $4.2 million in April at a 30-day VWAP of 17.75 cents, then raised its stake in July with 7.4 million shares at 23 cents, alongside a non-binding proposal to acquire all remaining shares.
• Share price reaction: Shares jumped 30% to over 26 cents on the April announcement and are now approaching 30 cents, with Klip citing five-year total returns over 430% and three-year returns over 300%.

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