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Candente Copper ( (TSE:ATCU) ) just unveiled an update.
Alta Copper Corp. has announced a non-brokered private placement with Fortescue Ltd.’s subsidiary, Nascent Exploration Pty. Ltd., to raise Cdn.$1,500,000. The funds will be used for working capital to advance the Cañariaco copper project. This financing is favorable for shareholders as it minimizes dilution and is priced above the current share price, providing necessary capital for upcoming drilling activities. The company is progressing towards securing necessary approvals from the Ministry of Energy and Mines and the local community.
More about Candente Copper
Alta Copper is focused on the development of its 100% owned Cañariaco advanced staged copper project, located in northern Peru’s prolific mining district. The project includes the Cañariaco Norte deposit, the Cañariaco Sur deposit, and the Quebrada Verde prospect, making it one of the largest copper deposits in the Americas not held by a major company.
Average Trading Volume: 28,614
Technical Sentiment Signal: Sell
Current Market Cap: C$39.51M
For a thorough assessment of ATCU stock, go to TipRanks’ Stock Analysis page.