Fitzroy Minerals Completes Acquisition of Ptolemy Mining and Secures Financing for Chilean Copper Project

Norseman Capital ( (TSE:FTZ) ) has provided an announcement.

Fitzroy Minerals Inc. has completed the acquisition of Ptolemy Mining Limited, marking a significant milestone in its strategic expansion. This acquisition positions Fitzroy to target copper resources in Chile and is supported by concurrent financing for an 8,000-meter drill program at the Buen Retiro Copper Project. The company also announced the appointment of Gilberto Schubert as the new COO, whose expertise is expected to advance Fitzroy’s projects and strengthen its operations. The acquisition, which involved a share exchange agreement, has been accepted by the TSX Venture Exchange and was subject to shareholder approval, leading to Ptolemy Capital becoming a control person of Fitzroy.

More about Norseman Capital

Fitzroy Minerals Inc. operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily engaged in targeting commercially viable copper resources, particularly in the Chilean coastal IOCG belt. Its market focus includes the acquisition and development of properties with significant mineral potential, such as the Buen Retiro Copper Project.

YTD Price Performance: 75.00%

Average Trading Volume: 357,929

Technical Sentiment Signal: Sell

Current Market Cap: C$36.85M

See more insights into FTZ stock on TipRanks’ Stock Analysis page.