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Voleo Trading Systems Inc ( (TSE:INTR) ) has provided an update.
Intrepid Metals has secured Teck Resources as a strategic investor through a non-brokered private placement, with Teck agreeing to acquire an approximately 9.9% equity stake for C$3.96 million at a 13% premium to Intrepid’s recent trading average. The proceeds will fund a 24‑month exploration and development program at the Corral Copper Project in Arizona, including extensive geophysical surveys, mapping, sampling, metallurgical and permitting work, and follow-up drilling to expand known zones and test new targets, while an investor rights agreement will give Teck participation rights in future financings, a significant role on a technical committee overseeing Corral, and a right of first refusal on any proposed transfer of the project interest, underscoring Corral’s strategic relevance and potentially enhancing Intrepid’s technical capabilities and long-term project advancement.
More about Voleo Trading Systems Inc
Intrepid Metals Corp. is a mineral exploration company focused on advancing its Corral Copper Project in Cochise County, Arizona, an advanced copper-gold-silver exploration and development opportunity located near historic mining districts such as Tombstone and Bisbee. The company targets large-scale, near-surface copper mineralization and is pursuing systematic exploration programs that integrate geophysics, geological mapping, geochemical sampling and drilling to delineate and expand mineralized zones.
Average Trading Volume: 172,049
Technical Sentiment Signal: Sell
Current Market Cap: C$32.85M
See more data about INTR stock on TipRanks’ Stock Analysis page.