11:06 AM EST, 12/23/2024 (MT Newswires) -- Aldebaran Resources ( ADBRF ) was at last look down more than 2% even as it said Monday that it received notice from Nuton Holdings, a Rio Tinto venture, that it will make the second payment worth US$20 million under their joint venture agreement.

Aldebaran said it expects to receive the payment in early January 2025.

Under the agreement, Nuton has the exclusive right to acquire a 20% interest in the Altar copper-gold project in Argentina by paying a total of US$250 million over the next two years.

The remaining payments include US$30 Million upon delivery of a preliminary economic assessment, which is expected to be completed in the second quarter of 2025.

Nucor will also pay US$190 million upon the delivery of a pre-feasibility study, which is scheduled in the second half of 2026.

Aldebaran's share price was down 2.3% at last look to $2.08 on the TSXV.

Price: 2.07, Change: -0.05, Percent Change: -2.36