Aeternum Pays 50M Shares for Option on 51% of Nkamouna Cobalt-Nickel Project
AETN has more than doubled off its 52-week low of $0.015 on light trading volume (0.3× avg).
Summary
Aeternum acquired an option to buy 51% of the Nkamouna cobalt-nickel project for 50M common shares and 2M Series B preferred shares with 40x voting power.
Key Events · M&A and Partnerships · AETN
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Option Acquired for 50M Shares
Aeternum acquired from Manaslu LLC an option to purchase a 50.1% stake in American Renaissance Materials LLC, which holds the Nkamouna nickel-cobalt project in Cameroon, for 50,000,000 common shares and 2,000,000 Series B preferred shares.
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Voting Power Concentration
Each Series B preferred share carries 40 votes, giving the seller 80 million votes versus 50 million for common shares — a structure that concentrates control with the seller.
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Project Strategic Value
Nkamouna is one of the largest undeveloped cobalt-nickel-manganese projects globally, with a historical resource estimate of 323 million tonnes grading 0.21% cobalt, 0.61% nickel, and 1.26% manganese.
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Regulatory and Permitting Status
ARM is working with the Government of Cameroon to obtain a new mining permit free of prior encumbrance; the prior permit was withdrawn in February 2025.
Analysis · AETN · Manufacturing
Aeternum is issuing 50 million common shares and 2 million Series B preferred shares to acquire an option on a 51% stake in American Renaissance Minerals, which holds the Nkamouna cobalt-nickel-manganese project in Cameroon. The preferred shares carry 40 votes each, giving the seller 80 million votes versus 50 million for common — a control-shifting structure. This follows the company's July merger into critical minerals and a going-concern warning in May, making the share issuance a significant dilution event for a micro-cap company.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 29.2% of the 1496 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, AETN was trading at $0.13 on OTC in the Manufacturing sector, with a market capitalization of approximately $6.9M. The 52-week trading range was $0.02 to $0.24. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.