BRÈVE

sur Aston Bay Holdings Ltd (NASDAQ:ATBHF)

Aston Bay and American West Metals Secure C$17.1 Million for Storm Copper Project

Aston Bay Holdings Ltd. and its joint venture partner, American West Metals, have announced a C$17.1 million funding agreement provided by Australian-based Taurus Mining Royalty Fund L.P. The funds will support the exploration and development of the Storm Copper Project in Nunavut, Canada.

The funding is structured in stages, with initial proceeds of C$6.85 million upon deal finalization, followed by additional allocations upon meeting certain project milestones. Aston Bay will receive C$3.425 million from the total amount, with no restrictions on the use of these proceeds.

The funds will facilitate an expansive 20,000-meter drilling program and accelerate logistical planning for 2025 field activities. Taurus will acquire a 0.95% gross override royalty on all production from the Storm project.

This agreement ensures non-dilutive financing for Aston Bay, allowing it to advance other projects within its portfolio. The partnership aims to expedite the development of Storm's high-grade copper resources while maintaining a strong financial position.

R. H.

Copyright © 2024 FinanzWire, tous droits de reproduction et de représentation réservés.
Clause de non responsabilité : bien que puisées aux meilleures sources, les informations et analyses diffusées par FinanzWire sont fournies à titre indicatif et ne constituent en aucune manière une incitation à prendre position sur les marchés financiers.

Cliquez ici pour consulter le communiqué de presse ayant servi de base à la rédaction de cette brève

Voir toutes les actualités de Aston Bay Holdings Ltd