Altamin Delivers Quarterly Update on Lazio and Gorno Projects
Key points
- Lazio Project development progressing on schedule, with technical and permitting workstreams advancing
- Environmental Impact Assessment (EIA) approval received for the Gorno Project's Cime exploration permit
- Strategic process continues for the Gorno Project to evaluate value realisation options
Full summary
Altamin Limited (ASX: AZI) provided its Quarterly Activities Report for the period ended 31 March 2026. For the Lazio Project, the Company advanced development in line with its plan, with technical, permitting, and in-country activities progressing. This includes the advancement of reservoir modelling, pilot well design, processing plant design, and capital and operating cost estimates. The proposed processing route utilises high-temperature Cesano geothermal brines to drive a conventional mechanical evaporation process, aiming to reduce energy costs and enable a closed-loop system with lower environmental impact. The Lazio Project activities are on track to support delivery of a Scoping Study in H1 CY2026. For the Gorno Project, the Company received Environmental Impact Assessment (EIA) approval for the Cime exploration licence, subject to standard conditions. This strengthens the Project's regulatory position and provides support for future permitting pathways. Altamin continued to maintain the Gorno Project in good standing and advance the strategic process with Argent Partners to evaluate value realisation options. The Company's group cash balance as of 31 March 2026 was A$2.98 million, and it continued to focus on non-dilutive Italian and EU funding sources to support its projects.
Guidance
The Lazio Project is targeting delivery of a Scoping Study in H1 CY2026.
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