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The latest announcement is out from Arizona Sonoran Copper Co., Inc. ( (TSE:ASCU) ).
Arizona Sonoran Copper Company announced that RG Royalties LLC, a subsidiary of Royal Gold Inc., has acquired a 2.5% net smelter royalty on a portion of its Cactus Project for $55 million. This transaction is seen as a strong endorsement of the project’s future by a reputable mining financier. ASCU retains the option to repurchase a portion of the royalty, which could reduce the overall burden and enhance its project economics. The company is considering its options regarding these buyback opportunities as it continues to advance the Cactus Project through various stages of feasibility.
More about Arizona Sonoran Copper Co., Inc.
Arizona Sonoran Copper Company Inc. is an emerging copper exploration and development company in the U.S., focusing on the Cactus Project, with a 100% interest in the brownfield operation. The company aims to grow its asset base, secure necessary resources, and advance its projects through feasibility studies towards a final investment decision.
YTD Price Performance: 38.26%
Average Trading Volume: 127,469
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$305.7M
See more data about ASCU stock on TipRanks’ Stock Analysis page.