- Business
- Altai Resources Inc. operates as a natural resource exploration and development company focused on oil, natural gas, and gold properties in Canada; it holds interests in the Sorel-Trois Rivières natural gas property in Quebec, the Cessford oil property covering 240 acres in southern Alberta, and the Malartic gold property comprising six map-designated claims spanning 127.6 hectares in the Val d'Or area of Quebec. Founded in 1955 and headquartered in Toronto, Ontario, the company targets energy and mineral resource sectors with operations confined to Canadian provinces including Alberta and Quebec. In recent strategic shifts, Altai completes the repositioning of its Canadian investment portfolio into cash and cash equivalents valued at approximately $3.9 million as of June 2025 to enhance liquidity and eliminate equity market risk; it declares and completes a special cash distribution of $0.06 per common share totaling about $3.4 million to shareholders in October 2025 following shareholder approval of a stated capital reduction; and it sells its 50% working interest in the Cessford oil wells property to Canadian Natural Resources Limited in September 2025 for a net liability settlement of $50,674, realizing a gain of $111,728 over its decommissioning liability.