Altamin Receives Lombardy Decree Renewing Gorno Exploration Licence to July 2029

Manish Choudhary

04 November 2026 12:49 PM AEDT

Altamin Receives Lombardy Decree Renewing Gorno Exploration Licence to July 2029

Image Source: Krish Capital Pty Ltd

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Altamin Limited (ASX:AZI) has disclosed that its wholly owned Italian subsidiary, Vedra Metals S.r.l., has received a decree dated 26 October 2026 from the Lombardy Region renewing the Cime exploration licence at the Gorno Zinc-Silver-Lead Project in northern Italy until 4 July 2029, and consolidating the two former licences into a single 2,107-hectare area.

Key Points

The Lombardy Region issued a decree renewing the Gorno Cime exploration licence for three years, from 5 July 2026 to 4 July 2029.
The decree consolidates the Cime and Cime 2 exploration licences into a single 2,107-hectare area.
The decree becomes effective upon lodgement of an approximately €146,000 financial guarantee and payment of an approximately €16,000 licence fee.
Argent Partners continues to advance the strategic process for the Gorno Project, including engagement with interested parties and due diligence activities.

Licence Extension and Consolidation Details

The decree, received by Vedra Metals S.r.l., provides for a three-year extension of the Cime exploration licence at the Gorno Zinc-Silver-Lead Project in northern Italy. The extension runs from 5 July 2026 to 4 July 2029. The decree also incorporates the adjacent Cime 2 licence area into the Cime licence, establishing a single administrative framework for the management of exploration activities across the combined 2,107-hectare area once the decree becomes effective. CEO Geraint Harris stated the company appreciated Regione Lombardia's constructive engagement throughout the process.

Conditions Required for Decree to Become Effective

According to the filing, the decree's effectiveness is subject to two conditions. The company is required to lodge an approximately €146,000 financial guarantee, covering all rehabilitation obligations associated with exploration activities to date at the project. Additionally, the company must pay an approximately €16,000 licence fee. The filing does not disclose a specific timeframe for the lodgement of the financial guarantee or payment of the fee beyond noting they are prerequisite conditions for the decree to take effect.

Ongoing Strategic Process at Gorno Project

The filing states that Argent Partners continues to advance the strategic process for the Gorno Project, which includes engagement with interested parties and due diligence activities. The filing notes there is no certainty that a transaction will result from the process. As an alternative, the company disclosed it may retain and advance the Gorno Project towards development. The filing does not disclose further details regarding the nature, timeline, or potential terms of any transaction under the strategic process.

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