Latest news with #EuroSunMining
The Market Online
21 hours ago
- Business
- The Market Online
Top European copper-gold deposit paves path to production
Euro Sun Mining (TSX:ESM) signed a copper concentrates prepayment facility for up to US$200 million with Trafigura Pte The funds will expedite development of Euro Sun's 100-per-cent-owned Rovina Valley project, housing one of the world's largest undeveloped copper-gold deposits and the second-largest in all of Europe Euro Sun Mining stock has added 116.67 per cent year-over-year but remains down by 56.67 per cent since 2020 Euro Sun Mining (TSX:ESM) signed a copper concentrates prepayment facility for up to US$200 million with Trafigura Pte. This facility would allow the company to complete all permitting plus strategic investments at its Rovina Valley copper-gold project in Romania over the next 18 months. Rovina Valley is one of the world's largest undeveloped copper-gold deposits, and the second-largest in all of Europe, housing an estimated 7 million ounces of gold and 233,000 tons of copper. According to Friday's news release, Trafigura will assist with the syndication of a consortium to provide Euro Sun with up to US$200 million in additional debt upon Rovina Valley reaching the construction phase. A separate binding offtake agreement with Trafigura provides up to 100 per cent of commercial production for 7-9 years, subject to minimum agreed upon tonnages. The parties will now work towards a definitive agreement, subject to the satisfaction of Trafigura's ongoing due diligence. An initial US$2.5 million tranche is expected to become available in mid-to-late June 2025. Euro Sun Mining stock has added more than 44 per cent since Rovina Valley was recognized as a strategic asset by the European Union. Leadership insights 'We are very pleased to have signed this term sheet that we believe could significantly strengthen our financial position,' Grant Sboros, Euro Sun Mining's chief executive officer, said in a statement. 'We are working to obtain financial security for all our stakeholders, and a clear financial roadmap to support our strategic growth and advance the long-term vision for our Rovina Valley project.' 'As per our previous press release, the company is advancing with its environmental impact assessment submission and that will be followed with close engagement with Romanian officials to get the legislative outcome the project requires,' Sboros continued. 'Together with our strategic status granted and our financial position closer to being secured, we are on the cusp of being fully equipped to deliver this project for the people of Romania and Europe's benefit.' 'We are pleased to support Euro Sun in advancing the Rovina Valley project, home to the second-largest copper and gold deposits in Europe,' added Ross Ridgway, head of copper at Trafigura. 'As global demand for copper continues to grow—driven by electrification and industrialization—the need for secure, sustainable new sources of supply has rarely been more important.' About Euro Sun Mining Euro Sun is a mining company exploring and developing its 100-per-cent-owned Rovina Valley project in west-central Romania. Euro Sun Mining stock (TSX:ESM) is up by 4 per cent on the news trading at C$0.13 as of 12:55 pm ET. The stock has added 116.67 per cent year-over-year but remains down by 56.67 per cent since 2020. Join the discussion: Find out what everybody's saying about this copper and gold mining stock on the Euro Sun Mining Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
25-03-2025
- Business
- Yahoo
Euro Sun Mining Included on European Union's List of Strategic Assets
TORONTO, March 25, 2025 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc., (TSX: ESM) ('Euro Sun' or the 'Company') is proud to announce that the company's Rovina Valley Project has been included on the European Union's first list of strategic assets following their May 27, 2024 call for applications under the Critical Raw Materials Act. This decision allows Euro Sun to fast-track the permitting process under new European legislative guidelines to facilitate the development of the Rovina Valley Project. Commentating on this development, Mr. Grant Sboros (CEO Euro Sun) said, 'We are extremely excited by this news, not just for the people of Romania, but also for our loyal and patient shareholders. Euro Sun Mining now has European Union support to help secure permits for a project that can deliver critical raw materials quickly in support of European strategic interests. This news also propels Romania to the forefront of critical raw material supply. On a personal level, I am also so happy that the European Union has recognized the importance of the Rovina Valley Project for Romania and Europe. There is now much work to done, but I would like to take this opportunity to thank our incredible shareholders and organisations like the International Copper Association for their unwavering support.' About Euro Sun Mining Inc. Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe. The Rovina Valley Project unlocks much needed investment and job creation in Hunedoara County and, delivers critical minerals necessary for Europe's green energy transition. Further information: For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@ Caution regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the European Union's decision to include the Rovina Valley Project on the list of Strategic Assets; the benefits to Euro Sun of the inclusion on the list of Strategic Assets; Europe's energy transition and demand for energy metals; environmental impact of the RVP; and development of the RVP. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at and on the Company's website at Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information 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 information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The TSX does not accept responsibility for the adequacy or accuracy of this news release. A photo accompanying this announcement is available at in to access your portfolio
Yahoo
07-02-2025
- Business
- Yahoo
Euro Sun Closes Third Tranche of Private Placement Financing
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc., (TSX: ESM) ('Euro Sun' or the 'Company') is pleased to announce that it has closed a third tranche (the 'Third Tranche') of its previously announced non-brokered private placement financing of units of the Company (the 'Offering'). Pursuant to the closing of the Third Tranche, the Company issued 5,700,900 units of the Company (each a 'Unit' and collectively, the 'Units') at a price of C$0.05 per Unit for gross proceeds of C$285,045.00. Each Unit consists of one common share of the Company (each, a 'Common Share') and one common share purchase warrant (each a 'Warrant'). Each Warrant will entitle the holder to acquire one additional Common Share of the Company at an exercise price of C$0.05 per Common Share until two years from the issue date. In connection with closing of the Third Tranche, the Company paid an aggregate amount of $3,500 cash commissions and 170,000 broker warrant's (the 'Broker Warrants') to finders. Each Broker Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.05 for a period of 24 months from the date of the closing of the Third Tranche. Euro Sun intends to use the proceeds of the Offering for the advancement of its Rovina Valley Project and for general corporate purposes. The securities issued under the Third Tranche are subject to a hold period that expires four months plus one day from the date of issuance. The Company has received conditional approval from the TSX to extend the closing date of the Offering until February 13, 2025. About Euro Sun Mining Inc. Euro Sun Mining is a publicly listed development-stage mining company focused on unlocking value through the responsible development of the Rovina Valley Project, one of Europe's largest copper gold projects. Further information: For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@ Caution regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the closing of the Third Tranche, closing of further tranches under the Offering and use of proceeds of the Offering. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR+ at and on the Company's website at Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information 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 information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The TSX does not accept responsibility for the adequacy or accuracy of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration in to access your portfolio
