Latest news with #Trigon
Business Wire
31-07-2025
- Business
- Business Wire
Trigon Metals Announces Horizon to Advance US$2 Million Payment and Provides Exploration Update
TORONTO--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM; OTCPK: PNZTF; FRA:TZU2) ('Trigon' or the 'Company') is pleased to announce that it has received the initial portion (US$1M) of the US$2M advance from Horizon Corporation Ltd. ('Horizon') ahead of August 4 th deadline and has notified the Company of its intention to advance the balance on or before August 4, 2025. The accelerated payment follows the successful Trigon shareholder vote on July 4, 2025, and demonstrates Horizon's commitment to closing the transaction in a timely manner. Please see Trigon's press release dated May 29, 2025 for further details regarding the sale of Trigon's interest in the Kombat Mine to Horizon. Strategic Shift to Exploration – Addana Drill Program Planned With the Company's transition away from production at the Kombat Mine, Trigon is sharpening its focus on its exploration assets, particularly in Morocco. A drill program is planned at the Addana Project, located in the established mining region of Morocco. The program will target high-priority mineralized zones beneath existing underground workings and is designed to confirm and expand on known copper mineralization. Initial drilling is budgeted at approximately US$350,000, and preparations are underway to mobilize field crews in the coming weeks. This marks the first phase of an exploration-driven strategy aimed at unlocking value from the Company's high-potential copper and silver assets. Jed Richardson, CEO and Executive Chairman of Trigon Metals, commented, ' We are pleased to see Horizon moving proactively to advance the first payment ahead of schedule. This show of confidence in the transaction provides us with the immediate financial flexibility to begin work at Addana. As we shift our focus toward exploration, we're excited about the prospects in Morocco and look forward to delivering results that support long-term value creation for our shareholders. ' Qualified Person The scientific and technical information in this release has been reviewed and approved by Dr. Andreas Rompel, (400274/04), FSAIMM, the Company's 'qualified person' as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. About Trigon Metals Inc. Trigon Metals Inc. is a publicly trading Canadian exploration and development company with a its core focus on copper and silver holdings in mining-friendly African jurisdictions. The Company holds the Kalahari Copperbelt Project in Namibia. In Morocco, the company is advancing two exploration projects; Addana, which hosts silver-bearing veins along with other metals, and Silver Hill, a sedimentary copper prospect that has already undergone drilling. Cautionary Notes This news release may contain forward-looking statements. These statements include statements regarding Horizon and the proposed sale of the Kombat Mine, the schedule of payments, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Addana Project, the prospectivity and mineralization at the Addana Project, the Company's exploration plan and the Company's future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Business Wire
30-07-2025
- Business
- Business Wire
Trigon Metals Reports Fourth Quarter Operational and Financial Results
TORONTO--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM, OTCPK: PNTZF, FRA: TZU2) ('Trigon' or the 'Company') announces it has filed its financial statements for the year ended March 31, 2025 and details below the operational results for the quarter ending March 31, 2025. All amounts are expressed in U.S. dollars, unless otherwise stated. Highlights Copper Production of 310,190 pounds and silver production of 6,878 ounces in Q4 at the Kombat Mine, following operational suspension in January 2025. Net Income: $18.1 million for the quarter, or ($0.38) per share, largely due to reversal of impairments and stream restructuring gains. Adjusted EBITDA (1) was ($906,952), reflecting reduced output and continued care and maintenance of the Kombat Mine. Following the pause of mining operations announced on January 16, 2025, the Company has withdrawn all production, capex and exploration guidance. The Trigon management team is focused on completing the sale of its interests in the Kombat mine to Horizon, as set out below. Mining operations were suspended, with the majority of the onsite employees retrenched. Summary of the Events of Financial Q4 During the quarter ended March 31, 2025, Trigon produced 310,190 pounds of copper and 6,878 ounces of silver prior to halting operations at the Kombat mine due to flooding in January 2025. C1 cash cost was $7.50 per pound. The high cash cost per pound metric was due to the low copper production combined with low copper plant recovery. Revenue totaled $1.92 million, while adjusted EBITDA (1) was ($906,952). Net income was $18.1 million due to the reversal of prior impairments. Table 1: Operating and Financial Highlights OP = Open Pit UG = Underground (1)EBITDA, net income (loss) attributable to owners of the Company, income (loss) per share attributable to owners of the Company, net (cash), working capital, C1 cash cost, copper production are non-IFRS measures. These measures do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. Please refer to the Company's discussion of Non-IFRS measures in its Management Discussion and Analysis for the three months ended June 30, 2024. Jed Richardson, CEO and Executive Chairman of Trigon, commented, ' This quarter was shaped by both significant operational challenges and transformative corporate developments. While the flooding at Kombat required us to place operations on care and maintenance, the signing of the definitive agreement to sell Trigon's interest in the mine saved the Company. It strengthens our financial position and allows us to focus our energy and capital on high-potential exploration projects in Morocco and Namibia. We thank our team for navigating this period with resilience and remain optimistic about Trigon's next chapter.' Sale of Trigon's Interest in the Kombat Mine On May 27, 2025, the Company signed a definitive agreement to sell its interest in the Kombat Mine to Kamino Mineral Ltd., an affiliate of Horizon Corporation (the 'Transaction'). The $24 million sale, payable over eight quarterly instalments, includes additional contingent payments tied to copper prices and mill expansion milestones. The Transaction is expected to provide Trigon with near-term liquidity and exposure to future upside at Kombat while redirecting strategic focus to its exploration assets. Private Placement In Q4, Trigon completed a non-brokered private placement in two tranches, raising gross proceeds of $2.53 million. Proceeds were used to fund corporate expenses and maintain the Kombat site during care and maintenance. Strategic Shift to Focus on Exploration Trigon is progressing its exploration campaigns at the Silver Hill and Addana projects in Morocco. The Company's technical team continues to evaluate extensive polymetallic vein systems with potential for near-surface, high-grade mineralization. Work continues at the Kalahari Copperbelt Project in Namibia, where Trigon holds an option to earn up to 70% of a highly prospective land package along strike from producing deposits. A total of $303,742 has been spent toward a $1 million exploration commitment. Qualified Person The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Müller, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101. Non IFRS Measures The Company has included certain non-IFRS performance measures, namely working capital, C1 costs, EBITDA and Adjusted EBITDA throughout this document. In the mining industry, these are common non-IFRS performance measures but do not have a standardized meaning. As a result, these measures may not be comparable to similar measures presented by other companies. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, we and certain investors use this information to evaluate the Company's performance and ability to generate cash, profits and meet financial commitments. Non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As a result, these measures may not be comparable to similar measures presented by other companies. Further details of the financial results, the Q4 and year end financial statement and management discussion and analysis ('MD&A') are available under the Company's profile on SEDAR+ at Trigon Metals Inc. Trigon Metals Inc. is a publicly trading Canadian exploration and development company with a its core focus on copper and silver holdings in mining-friendly African jurisdictions. The Company holds the Kalahari Copperbelt Project in Namibia. In Morocco, the company is advancing two exploration projects; Addana, which hosts silver-bearing veins along with other metals, and Silver Hill, a sedimentary copper prospect that has already undergone drilling. Cautionary Notes This news release may contain forward-looking statements. These statements include statements regarding the Company's mining operations, the financial results of the Company, the timing and results of mining activities, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Kombat mine, the restarting of the Kombat mine, the economic viability of the Kombat mine, the Company's ability to obtain financing, the Transaction, the Company's ability to complete the Transaction, the Company's ability to expand or replace mineral resources and reserves, the projected costs and production at the Kombat mine, planned capital expenditures, the prices of copper and silver, foreign currency exchange rates, and the Company's future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Business Wire
07-07-2025
- Business
- Business Wire
Trigon Metals Announces Results of Annual and Special Meeting
TORONTO--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM, OTC: PNTZF) ('Trigon' or the 'Company') is pleased to report that all matters presented to Trigon shareholders in the management information circular dated June 2, 2025 have been approved by Trigon shareholders at the meeting held on July 4, 2025 (the 'Meeting'). The sale of Trigon's interest in the Kombat mine to Kamino Minerals Limited, an affiliate of Horizon (please see press release dated May 29, 2025 for further information) was approved by more than 99% of the votes cast at the Meeting. Shareholders at the Meeting also approved the election of each of the Trigon board of director nominees, the appointment of the Company's auditors and the Company's stock option plan. Trigon management would like to thank shareholders for their participation and continuing support. Trigon Metals Inc. Trigon is a publicly-traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the Company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat Mine. Cautionary Notes This news release may contain forward-looking statements. These statements include statements regarding the Meeting, the economic viability of the Kombat mine and the Company, the Company's ability to obtain adequate financing, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Kombat Mine, and the Company's future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Bloomberg
16-06-2025
- Business
- Bloomberg
Wedbush Said to Acquire Stake in Polish Investment Bank Trigon
Wedbush Financial Services is taking a significant minority stake in Polish investment bank Trigon, according to people familiar with the matter. Terms of the transaction couldn't be learned. An agreement could be announced as soon as Monday, said the people who asked not to be identified because the information is private.
Hamilton Spectator
12-06-2025
- Business
- Hamilton Spectator
Trigon finalizes $750M investment in North Coast LPG facility
Trigon Pacific Terminals' board passed its final investment decision today (June 11) on a $750 million liquefied petroleum gas (LPG) export facility in Prince Rupert despite a current exclusivity deal between the Prince Rupert Port Authority and an Altagas/Royal Vopak partnership. The facility will be able to export up to 2.5 million tonnes of primarily Alberta-produced propane and butane annually, positioning it as a major LPG export hub in Canada. Pending all required legal and regulatory approvals, the company could begin exports by late 2029. 'We've come to the table with investment dollars and now we need the federal government to expedite this shovel-ready project that is clearly in the national interest,' said Trigon CEO Rob Booker. Booker pointed out that the project aligns with Canada's economic goals of trade diversification and expanding exports of critical minerals and clean energy to global markets beyond the U.S., particularly in Asia. While Alberta supplies the product, Trigon offers reliable coastal access needed to move it to international markets quickly, he said. 'We want to keep this project moving along because we have some momentum now,' said Craig Olley, Trigon's president. He noted that Asian buyers currently lack open access to LPG, which Trigon aims to offer by entering the market. 'We have a sort of responsibility to provide open market, fair access to the consumers in Japan, and currently, today, they don't have that.' The president added that AltaGas and Royal Vopak cuurently hold exclusive rights to export this type of energy out of Prince Rupert, effectively giving them a monopoly on the West Coast. 'It's always good to have some healthy competition,' said Olley. He recently returned from Japan as part of the business delegation accompanying Premier David Eby on his trade tour. He highlighted the strong LPG demand in Japan and South Korea, noting that Malaysia has also begun to show interest. 'At least a dozen different entities were supportive and pleased to see Trigon stepping up to facilitate LPG movement into Asia. They understand that Prime Minister Carney is supportive of these cleaner, lower-emission type fuels for energy use in Asia,' said Olley. In February, amid the Canada-U.S. tariff dispute, Booker wrote to the Prime Minister urging the federal government to direct the Prince Rupert Port Authority (PRPA) to revoke the exclusive LPG export access granted to AltaGas and Royal Vopak. The port authority, which had already partnered with the two companies on a $1.35 billion export facility in the city maintained its position against allowing Trigon to expand LPG operations on Ridley Island. Olley noted that Trigon already has key infrastructure in place, including LPG loading arms, existing rail connections, and marine berth access, which removes the need for new construction. He said AltaGas and Royal Vopak currently use Trigon's loading arms for their LPG exports. He confirmed that the existing setup can also handle Trigon's own exports in the future. Trigon's June 11 news release highlighted support from Chief Councillor Garry Reece of the Lax Kw'alaams Band, Chief Robert Nelson of the Metlakatla First Nation, and the Government of Alberta on this project. 'We have some of the largest reserves of natural gas and natural gas liquids in the world and are working hard to meet the growing demand of our partners in Japan, Korea and Asia. This new Indigenous-backed facility will play a major role in the long-term success of these partnerships and in promoting Indigenous economic reconciliation,' stated Brian Jean, Alberta Minister of Energy and Minerals. As of 2024, Trigon Pacific Terminals is the largest terminal by volume at the Port of Prince Rupert, having handled 9.1 million metric tonnes of dry and liquid bulk products. The multi-commodity bulk terminal ships various materials, including steelmaking and thermal coal, petroleum coke, iron ore pellets, and liquid propane gas (LPG). According to the Canadian government, Canada produced 46.7 million tonnes of coal in 2022. Of that, 59 per cent was metallurgical coal used in steelmaking, while 41 per cent was thermal coal used for electricity generation. The government noted that coal-fired power remains the largest global source of greenhouse gas emissions, contributing to climate change and posing health risks. When asked whether Trigon would scale back its thermal coal exports once its zero-emission ammonia/hydrogen and lower-emission LPG facilities become operational, the company said it would remain committed to continuing current coal exports. 'We understand the importance of these resources to various industries and economies; the world will always need steel, and many countries still rely on thermal coal for energy. We are dedicated to maintaining our operations to support their needs,' said Olley. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
