Latest news with #CopperCorp
National Post
06-05-2025
- Business
- National Post
Capstone Copper Increases Revolving Credit Facility and Extends Maturity to May 2029
Article content VANCOUVER, British Columbia — Capstone Copper Corp. ('Capstone' or the 'Company') (TSX:CS) (ASX; CSC) is pleased to announce that it has amended its existing revolving credit facility (the 'Amended Credit Facility') and extended the maturity from September 2027 to May 2029. The Amended Credit Facility will bear interest on a sliding scale of adjusted term SOFR plus a margin of 1.75% to 2.75%. Article content The amendment of the existing revolving credit facility increases the aggregate commitments from $700 million to $1 billion, with a $200 million accordion. Increased availability of the revolving credit facility is subject to refinancing of the Company's Mantoverde Development Project Facility. As part of the balance sheet optimization, Capstone intends to repay its 70%-attributable share of project financing debt at the Mantoverde S.A. subsidiary using proceeds from the previously announced $600 million aggregate principal amount of 6.750% senior unsecured notes due 2033. Article content 'This represents a further step towards enhancing our balance sheet strength and flexibility. We are pleased to have achieved competitive terms and an extended maturity to 2029 on our revolving credit facility. When combined with the new senior unsecured notes announced in March, in addition to the anticipated repayment of our share of the Mantoverde Development Project Facility, we have a simplified debt capital structure with our only material debt maturities in 2029 and 2033,' stated Raman Randhawa, Chief Financial Officer. The Amended Credit Facility includes standard and customary terms and conditions with respect to fees, representations, warranties, and financial covenants. CIBC acted as Administrative Agent, Joint Bookrunner, and Co-Lead Arranger. The Bank of Nova Scotia acted as Syndication Agent, Joint Bookrunner, and Co-Lead Arranger. ING Capital LLC acted as the Joint Bookrunner and Co-Lead Arranger. Article content A copy of the Amended Credit Facility agreement will be filed on SEDAR+. Article content Capstone Copper Corp. is an Americas-focused copper mining company headquartered in Vancouver, Canada. We own and operate the Pinto Valley copper mine located in Arizona, USA, the Cozamin copper-silver mine located in Zacatecas, Mexico, the Mantos Blancos copper-silver mine located in the Antofagasta region, Chile, and 70% of the Mantoverde copper-gold mine, located in the Atacama region, Chile. In addition, we own the fully permitted Santo Domingo copper-iron-gold project, located approximately 30 kilometres northeast of Mantoverde in the Atacama region, Chile, as well as a portfolio of exploration properties in the Americas. Article content Capstone Copper's strategy is to unlock transformational copper production growth while executing on cost and operational improvements through innovation, optimization and safe and responsible production throughout our portfolio of assets. We focus on profitability and disciplined capital allocation to surface stakeholder value. We are committed to creating a positive impact in the lives of our people and local communities, while delivering compelling returns to investors by sustainably producing copper to meet the world's growing needs. Article content This press release may contain 'forward-looking information' within the meaning of Canadian securities legislation and 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, 'forward-looking statements'). Article content In certain cases, forward-looking statements can be identified by the use of words such as 'anticipates', 'approximately', 'believes', 'budget', 'estimates', 'expects', 'forecasts', 'guidance', 'intends', 'plans', 'scheduled', 'target', or variations of such words and phrases, or statements that certain actions, events or results 'be achieved', 'could', 'may', 'might', 'occur', 'should', 'will be taken' or 'would' or the negative of these terms or comparable terminology. Forward-looking statements include, but are not limited to, statements with respect to the Company's intention to offer the Notes, subject to market and other conditions, the intended use of proceeds from the offering and the Company's business strategy. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable, are inherently subject to significant operational, business, economic, market and regulatory uncertainties and contingencies. These assumptions include the timing and success of the Notes offering. Furthermore, such forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation, the risks included in our continuous disclosure filings on SEDAR+ at These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. Although the Company has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, conditions, results, performance or achievements to differ from those anticipated, estimated or intended. The Company cautions that the foregoing lists of important assumptions and factors are not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking statements contained herein. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Article content Article content Article content Article content Article content Contacts Article content Daniel Sampieri, Vice President, Investor Relations 437-788-1767 dsampieri@ Article content Article content Article content
Yahoo
18-02-2025
- Business
- Yahoo
CopperCorp Confirms Significant Outcropping Mineralization at Hydes and Commences Ground Gravity Surveys at Razorback
Vancouver, British Columbia--(Newsfile Corp. - February 18, 2025) - CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) ("CopperCorp" or the "Company") is pleased to provide an update on its ongoing exploration activities at the Company's 100% Razorback Copper-Gold-REE property in western Tasmania, Australia (Figures 1 and 2). Highlights Exploration field crews have successfully located outcropping copper mineralization at the Hydes prospect in the vicinity of a 1960's surface channel sampling program reported by BHP that returned 23.0m @ 0.8% Cu. Follow-up mapping and sampling is ongoing at Hydes Gravity survey crews have been mobilised to site and have commenced planned ground gravity surveys over the Jukes and Hydes priority target areas. Line-cutting crews have been sourced to cut IP survey grids at Jukes and Hydes with work anticipated to commence during March ICP Securities Inc. engaged for automated market making services Field Exploration Update Outcropping High-Grade Copper Mineralization Located at Hydes The historically sampled outcropping chalcopyrite mineralization at Hydes has been successfully located by CopperCorp field crews (See Figures 3 and 4). The mineralization occurs in chlorite altered volcanic host rocks, exhibiting strong similarities in style to copper-gold mineralization at Jukes and deeper levels of the Mt Lyell Cu-Au system. Follow-up detailed mapping and sampling programs have been prioritized and commenced at Hydes. Assay results of rock sampling will be released as soon as they are available. At Hydes, which remains untested by drilling, a modelled elongated magnetic pipe feature extends up to 1km vertically and occurs coincident with a circular residual gravity high anomaly around 1km in diameter with a peak amplitude of 4.6mGal, positioned on a large NW-trending fault structure (Figures 6 and 7). Outcropping chalcopyrite mineralization that flanks the modelled magnetitic feature at Hydes has been successfully located by CopperCorp field crews. The mineralization was surface channel sampled by BHP in the 1960's and returned 23.0m @ 0.8% Cu (gold not assayed, see figure 6.) but has had no follow-up exploration since that time. Gravity Surveys Ground gravity surveys will focus initially on the Jukes and Hydes target area before moving on to cover the South Darwin and Linda target areas. The surveys are planned to infill around existing broad spaced gravity survey points (averaging approximately 1000m spacings) to provide higher resolution data (at 200m to 400m spacing) and enable more accurate mapping of prospective gravity anomalies for drillhole targeting. As previously announced1, 3D inversion modelling of magnetic and gravity data indicates highly prospective coincident magnetic pipe and gravity features at the Jukes and Hydes prospect areas characteristic of IOCG deposits and with similarities to the Mt Lyell Cu-Au system (3Mt contained copper at 1% Cu, and 3Moz contained gold at 0.3g/t Au) located along trend 10km to the north of Jukes. Recent drilling by CopperCorp at the Jukes prospect2 confirmed significant Cu-Au mineralization associated with chlorite-magnetite alteration flanking an elongate pipe-like magnetic high feature with the core of the pipe extending up to 700m in a N-S direction, and up to 1.4km vertically below outcropping mineralization at surface. 3D gravity inversion modelling based on wide-spaced historical gravity survey data defined a significant gravity high anomaly located adjacent and partially overlapping the modelled magnetic pipe at Jukes. The area of the modelled gravity high feature is overlain by cover sequence rocks and remains untested by drilling. It is anticipated that higher resolution data from the current gravity survey will enable higher confidence drill targeting to test the gravity feature. The position of the magnetic and gravity features at Hydes and Jukes lies directly adjacent to large NW-trending faults and is considered to indicate potential for highly prospective structurally controlled mineralized pipes typical of the Mt Lyell system where anomalous gravity features occur associated with the larger mineralized pipe bodies that have depth extensive chlorite-magnetite-apatite-biotite alteration zones (e.g. Prince Lyell and Western Tharsis orebodies). Next Steps - Gridding and Drill Hole Planning Line cutting crews for gridding at both Hydes and Jukes have been engaged and are anticipated to commence work during March. It is anticipated that commencement of IP surveys will follow completion of the grid cutting. Planning and permitting is currently underway for follow-up drilling at the Jukes prospect and possible maiden drill testing at Hydes. Results from the detailed ground gravity surveys as well as the upcoming IP surveys will be used to inform and refine additional future drill planning at the prospects. Figure 1. Southern Skyline Project properties and exploration target areas with magnetics TMI RTP image. To view an enhanced version of this graphic, please visit: Figure 2. Location of the Razorback property and priority target zones relative to the Mt Lyell copper-gold mine. Blue outlines are CopperCorp's 100% owned licenses. To view an enhanced version of this graphic, please visit: Figure 3. Jonathan Davis, Project Geologist standing next to outcropping chalcopyrite in chlorite altered volcanics at the rediscovered overgrown 1960's BHP Hydes sample site. To view an enhanced version of this graphic, please visit: Figure 4. Example of chalcopyrite mineralization in chlorite altered host rocks from recently located outcrop at the Hydes prospect. To view an enhanced version of this graphic, please visit: Figure 5. Jukes Zone area with complete bouguer anomaly (CBA), 20km high-pass (HP20km) residual gravity image, TMI 1VD magnetic contours, and recent CopperCorp drilling results. To view an enhanced version of this graphic, please visit: Figure 6. Hydes Zone area with complete bouguer anomaly (CBA), 20km high-pass (HP20km) residual gravity image and TMI 1VD magnetic contours. To view an enhanced version of this graphic, please visit: Figure 7. Hydes and Jukes Zone area long section (looking towards WNW) with current 3D inversion magnetic susceptibility (teal) and gravity/density (pink) model iso-surface shells. To view an enhanced version of this graphic, please visit: ICP Securities Inc Engaged for Automated Market Making Services The Company is pleased to announce that it has engaged the services of ICP Securities Inc. ("ICP") to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture and other applicable legislation. ICP will be paid a monthly fee of C$7,500, plus applicable taxes. The agreement between the Company and ICP was signed with a start date of February 18, 2024, and is for four (4) months (the "Initial Term") and shall be automatically renewed for subsequent one (1) month terms (each month called an "Additional Term") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the Company in the future. ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities. ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors. About CopperCorp CopperCorp is focused on the exploration and development of its Skyline, AMC, and Whisky Creek copper-gold-REE projects in western Tasmania. The company is well-financed with approximately C$3.5M in working capital as reported in the November 27, 2024 news release3. Qualified Person & National Instrument 43-101 Disclosure The Company's disclosure of technical or scientific information in this news release has been reviewed and approved by Sean Westbrook, VP Exploration for the Company. Mr. Westbrook is a Qualified Person (QP) as defined in National Instrument 43-101. This news release contains information about adjacent properties on which the Company does not have an interest. The QP has been unable to verify the information on these adjacent properties and the information is not necessarily indicative to the mineralization on the properties that is the subject of this news release. References 1CPER: TSXV News Release 26th August 20242CPER: TSXV News Release 19th December 20243CPER: TSXV Interim MDA for the Period Ended September 30 2024, 27th November 2024 CPER: TSXV News Release 16th December 2024CPER: TSXV News Release 18th November 2024CPER: TSXV News Release 15th October 2024CPER: TSXV News Release 25th September 2024CPER: TSXV News Release 11th September 2024CPER: TSXV News Release 13th May 2024 Adjacent Property (Mt Lyell) Information Sources:Sibanye-Stillwater company website information as of May 12th 2024New Century Resources: ASX Announcement 23rd January 2023New Century Resources: ASX Announcement 27th October 2021 Seymour, D.B., Green, G.R., and Calver, C.R. 2007. The Geology and Mineral Resource of Tasmania: a summary. Geological Survey Bulletin 72. Mineral Resources Tasmania, Department of Infrastructure, Energy and Resources Tasmania Contact:Stephen SwattonPresident, CEO & Directorstephen@ information about CopperCorp can be found on its website: and at CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation relating the Company's expectations and plans regarding the Skyline Project, Razorback property and Jukes prospect in Tasmania; plans for future exploration and drilling at the Jukes prospect and the timing of same; the merits of the Company's mineral projects and other plans of the Company. Forward-Looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "encouraging", "expects", "plans", "anticipates", "believes", "interpret", "intends", "estimates", "projects", "aims", "suggests", "often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective", "possibly", "preliminary" and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or other statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and that such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Factors that could cause future results to differ materially from those anticipated in forward-looking statements include risks associated the timing and outcome of the planned exploration work programs; that the Company may experience difficulties in exploration and carrying out related work; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; possible accidents; the possibility that the Company may not be able to secure permitting and other governmental approvals necessary to carry out the Company's plans; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; the possibility that future exploration results will not be consistent with the Company's expectations; increases in costs; environmental compliance and changes in environmental and other local legislation and regulation; interest rate other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors and exchange rate fluctuations; changes in economic and political conditions; and other risks involved in the mineral exploration industry. The reader is urged to refer to the Company's Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at for a more complete discussion of risk factors and their potential effects. Forward-Looking statements are based on a number of assumptions, including management's assumptions about the following: the availability of financing for the Company's exploration activities; operating and exploration costs; the Company's ability to attract and retain skilled staff; timing of the receipt of necessary regulatory and governmental approvals; market competition; and general business and economic conditions. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit Sign in to access your portfolio
