Alto Minerals

Denarius Metals operates in Spain through its 100%-owned local subsidiary company, Alto Minerals S.L.U. (Alto or Alto Minerals). The management and technical teams of Alto Minerals are based in the Company’s office in Seville. Alto Minerals also has facilities in Valverde and at the Lomero Project site.

Alto Minerals owns a 100% interest in the Investigation Permit Nº 14,977, also identified as Rubia, covering the areas occupied by the former Lomero-Poyatos Concessions and the mine within them in southern Spain in the Iberian Pyrite Belt. Alto also owns a 100% interest in the Investigation Permit Nº 14,978, also identified as Palomarejo, located to the west and adjacent to the Rubia Permit. Denarius Metals refers to the Rubia and Palomarejo Permits collectively as the “Lomero Project”.

In December 2023, Alto Minerals acquired a 50% joint venture interest in Rio Narcea Recursos, S.L. (RNR), a private company in Spain which owns a 5,000 tonnes per day processing plant and has the rights to exploit the historic producing Aguablanca nickel-copper mine located in Monesterio, Extremadura, Spain. Denarius Metals is the operator of the joint venture and plans to re-start the processing plant and commence underground mining operations at the Aguablanca Project within the next 12 months.

Projects