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Altus bauxite sale goes ahead

Altus Strategies (AIM:ALTS) has sold off its Minim Martap bauxite project in Cameroon for £2.75 million (US$3.55 million) in Canyon Resources (ASX:CAY) shares and a royalty after a five-year joint venture.

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The project is on a 'bauxite plateau', Altus says

The project generator, which flagged the deal in October, will receive another five million shares in Canyon once the project gets a mining convention from the government.

The royalty is worth $1.