Latest news with #coppergold
Yahoo
16 hours ago
- Business
- Yahoo
St. Augustine Gold and Copper Limited Announces Completion of Debt Conversion of $1,670,207
Singapore, Singapore--(Newsfile Corp. - June 19, 2025) - St. Augustine Gold and Copper Limited (TSX: SAU) ("St. Augustine" or the "Company") is pleased to announce that, further to its press release dated June 2, 2025, it has completed its previously announced debt settlement (the "Debt Settlement") transaction with Queensberry Mining and Development Corp. (the "Creditor"). Pursuant to the Debt Settlement, the Company issued an aggregate of 25,306,166 common shares in the capital of the Company, at a deemed price of $0.066 per common share, in consideration for the settlement of a total of CAD $1,670,207 in connection with certain funds advanced to the Company by the Creditor. The Debt Conversion is a "related party transaction" for the purposes of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on an exemption from the minority approval and formal valuation requirements of MI 61-101 due to the fact that the value of the transaction does not represent greater than 25% of the market capitalization of the Company. About St. Augustine St. Augustine (SAU.T) is a TSX-listed mining company focused on the development of the King-king Copper-Gold Project. The Project is one of the largest undeveloped copper-gold deposits in the world and is listed as a top three-priority mining project by the Philippine government. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact included herein are forward looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. While we consider these assumptions to be reasonable based on currently available information, they may prove to be incorrect. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is also subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from the Company's current expectations, including changes in market conditions, governmental or regulatory developments and general economic conditions. Other risks and uncertainties related to the Company are disclosed under the heading "Risk Factors" in the Company's Annual Information Form dated March 31, 2025 and filed with Canadian securities regulatory authorities on the SEDAR+ website at Forward-looking information contained in this announcement is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely on this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time except as required by applicable securities law. For more Information: Lenna Mae LeopoldoInvestor and Public Relations ContactT: +6382 225 0884E: lleopoldo@ ST. AUGUSTINE CORPORATEHEADQUARTERSNo. 21, Greenwood LaneSingapore, 286949 To view the source version of this press release, please visit
Globe and Mail
4 days ago
- Business
- Globe and Mail
Inflection Resources to Acquire Portfolio of Australian Copper-Gold Projects from Newmont Corporation
VANCOUVER, British Columbia, June 16, 2025 (GLOBE NEWSWIRE) -- Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) (the "Company" or "Inflection") is pleased to announce it has entered into definitive agreement dated June 13, 2025 to acquire an 100% interest in a portfolio of Australian copper-gold exploration projects in New South Wales and the Northern Territory from subsidiaries of Newmont Corporation ('Newmont'). Summary Highlights: Inflection shall acquire an 100% interest in a large portfolio of projects from Newmont which the Company considers highly prospective for copper-gold in the Northern Territory and New South Wales. The Tennant East project located in Australia's Northern Territory comprises twelve exploration licenses covering a number of Iron Oxide Copper Gold (IOCG) targets which have received minimal exploration work to-date. The Bell River project is located in the Macquarie Arc in central New South Wales. The Company considers the project to be highly prospective for copper-gold porphyries, with the presence of outcropping lithocaps interpreted to represent the upper parts of preserved porphyry systems. Alistair Waddell, Inflection's President and CEO, states: ' We are pleased to announce the acquisition of this high-potential project portfolio, which represents the culmination of an extensive evaluation process. The Tennant East and Bell River projects meet our rigorous selection criteria, particularly regarding the scale and quality of individual exploration targets and concepts. These new projects complement our existing New South Wales portfolio and will be explored in parallel with our current AngloGold Ashanti-funded exploration program. We look forward to applying our systematic, systems-thinking exploration approach to unlock the potential of these projects once the transaction is completed." Bell River Project – New South Wales: Individual prospects with significant zones of advanced argillic alteration interpreted by Inflection to represent possible porphyry lithocaps Adjacent outcropping zones of quartz-pyrite-chalcopyrite cemented breccias Aeromagnetic lows coincident with high-level alteration Little to no drill testing of several geochemical anomalies and zones of high-temperature hydrothermal alteration The Bell River tenement (~115 km²) is located approximately 65 km north of Newmont's Cadia mine and 23 km south of the town of Wellington, New South Wales within the Molong Belt of the Macquarie Arc (Figure 1). The Macquarie Arc is the most fertile porphyry copper-gold terrane in Australia, comprising the Junee-Narromine Volcanic Belt which hosts Evolution Mining's Northparkes and Cowal mines and the Molong Volcanic Belt which hosts the Bell River project and Newmont's Cadia mine. The Bell River tenement is largely comprised of the calc-alkaline Mid-Ordovician Fairbridge Volcanics and Oakdale Formation comprising of basaltic to andesitic tuffs, breccias, lavas, latites, and minor sedimentary rocks and limestones which host Alkane Resources Ltd.'s Boda-Kaiser porphyry systems 40 km to the north Reconnaissance mapping and geochemical and spectral surveys by the previous owners have identified significant zones of advanced argillic alteration at several prospects, which are interpreted by Inflection to represent relic porphyry-related lithocaps. At a prospect referred to as Bakers Swamp, the interpreted lithocap is bordered by a zone of propylitic alteration to the west and south and elevated As-Mo-Ag-Ba-Sb-As-S-Se in soil samples. Locally surface rock sampling of intensely silicified andesitic volcanics returned gold values up to 40.8 g/t and 1% copper. At the Bellevue prospect, outcropping silica ridges bordered by pyrophyllite-paragonite-muscovite alteration are accompanied by sporadic outcrops of quartz-chalcopyrite-pyrite cemented hydrothermal breccias. The Bakers Swamp prospect is defined by a broad zone of silica-clay-goethite-limonite alteration that is coincident with a 1.5 km wide aeromagnetic low and copper-in soil anomalism. Mineral assemblages typical of advanced argillic alteration (dickite-alunite-pyrophyllite-zunyite) have been identified by previous explorers. These alteration assemblages are well recognized as representing the upper levels of magmatic-hydrothermal systems and are noted in many porphyry deposits globally. Previous explorers effectively defined the alteration but did not drill test the potential of these zones, leaving significant potential for discovery of copper-gold mineralization at depth. Figure 1: Location map and simplified geological map for the Bell River project Tennant East Project – Northern Territory: Newmont scout drilling defined Cu-Au-U-Mo geochemical footprints consistent with IOCG style mineralization Preliminary scout drill holes intersected: Hematite-magnetite-chlorite alteration facies typical of IOCG systems Vein and disseminated pyrite ±pyrrhotite ±chalcopyrite ±galena sulphide Broad zones of hematite-pyrite-silica breccias Thick sedimentary sequences and bimodal intrusions in the project are an equivalent age to other mineralized districts including the nearby Tennant Creek copper-gold deposits The Tennant East project is highly prospective for large-scale IOCG style mineralization. The project comprises twelve individual exploration licenses totalling approximately 4,200 km² located approximately 180 km east of the town of Tennant Creek in Australia's Northern Territory (Figure 2). The project is easily accessible and located on and adjacent to the Barkly Highway, which runs from Tennant Creek to Mount Isa in western Queensland. All targets occur under relatively shallow post-mineral sedimentary cover interpreted to be less than 150 metres thick. The exploration licenses were initially staked by Newcrest Mining as part of a country-scale targeting exercise and only received cursory exploration that returned encouraging early results, including the drilling of thirteen holes into a wide variety of geophysical features. Figure 2: Location map of the Tennant East exploration licenses and major copper-gold and gold mines IOCG deposits represent expressions of large crustal-scale alteration events driven by intrusive activity and are among the world's most significant sources of copper, gold, uranium and critical commodities making them exceptionally valuable mineral systems that often support large-scale, long-life mining operations. The largest known deposit of this type is Olympic Dam, located 560 km north of Adelaide, South Australia with other Australian examples being Prominent Hill, Carrapateena, Ernest Henry and the Tennant Creek district. Other notable global examples include Candelaria in Chile and Salobo in Brazil. These deposits are characterized by an association of copper, gold and uranium with highly elevated iron oxides (hematite and magnetite). The deposits are typically associated with large scale hydrothermal alteration, brecciation and mineralisation controlled by deep-seated faults. These deposits are highly amenable to cost-effective geophysical exploration due to their close association with magnetite and hematite. Inflection's exploration strategy will involve targeting thorough systematic review of previous exploration data, detailed geological interpretation and development of integrated geological, geochemical and geophysical data. Further details regarding the individual targets will be released once the titles have been transferred to Inflection. Newmont Agreement Terms: Bell River Agreement Terms: Inflection will acquire 100% interest in the Bell River project by issuing Newmont 1,000,000 common shares of the Company. Inflection also agrees to pay Newmont a one-time payment of AUD$2.5M upon completion of a JORC or NI43-101 compliant Pre-Feasibility Study and AUD$5.0M upon commencement of commercial production. Newmont shall retain a 2% net smelter return ('NSR') royalty on the project, of which Inflection may purchase 1% NSR for AUD$5.0M at any time. Tennant East Agreement Terms: Inflection will acquire 100% interest in the Tennant East project by issuing Newmont 250,000 common shares of the Company and reimbursement of the 2025-26 tenement renewal fees. Newmont shall retain a 1.5% NSR on the project, of which Inflection may purchase 0.5% NSR for fair market value after completion of a NI43-101 compliant Pre-Feasibility Study. The transactions are expected to close in several weeks upon transfer of the exploration licenses to the Company's wholly owned Australian subsidiary and the share issuance to Newmont. Qualified Person and Sampling Quality Control: The scientific and technical information contained in this news release has been reviewed and approved by Mr. Carl Swensson (FAusIMM), a 'Qualified Person' ('QP') as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Swensson is not independent by reason he is a director of the Company's subsidiary and a shareholder of the Company. About Inflection Resources Ltd. Inflection is a copper-gold focused mineral exploration company listed on the Canadian Securities Exchange under the symbol 'AUCU', on the OTCQB under the symbol 'AUCUF' and on the Frankfurt Stock Exchange under the symbol '5FJ', with projects in New South Wales and the Northern Territory of Australia. For more information, please visit the Company website at Inflection is part of the NewQuest Capital Group which is an entrepreneurial, discovery-driven investment group that builds value through the incubation and financing of early-stage mineral exploration projects globally. Further information about NewQuest can be found at On behalf of the Board of Directors Alistair Waddell President and CEO alistair@ For further information, please contact: Brennan Zerb Investor Relations Manager +1 (778) 867-5016 bzerb@ Forward-Looking Statements: This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, amount of drilling, anticipated content, commencement and cost of exploration programs in respect of the Company's projects and mineral properties, the closing date of the property acquisitions and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's exploration plans. the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's most recently filed annual MD&A and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR+ website at Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.
Arab News
7 days ago
- Business
- Arab News
IFC to provide $400 million loan for Pakistan's copper-gold Reko Diq mine
ISLAMABAD: The International Finance Corporation will provide a $400 million subordinated loan for Pakistan's Reko Diq copper-gold mine, according to an IFC disclosure on Friday. The loan adds to a $300 million commitment announced in April, bringing IFC's total financing for the project to $700 million. The estimated cost of the mine is $6.6 billion, to be funded through a mix of debt and equity from a consortium of lenders. 'The estimated total Project cost is $6.6bn, and it will be financed using a combination of debt and equity,' the disclosure said, adding that other parallel lenders will provide the remaining debt financing. This type of loan, known as subordinated debt, is typically repaid after other senior loans and helps absorb more risk, making it easier for other lenders to invest. Other financiers, including the US EXIM Bank, Asian Development Bank, Export Development Canada, and Japan's JBIC, are also expected to join the financing package, project director Tim Cribb told Reuters in April. Term sheets are expected to close by early in the third quarter. IFC chief Makhtar Diop said earlier this year that the institution was 'doubling down' on Pakistan, with a focus on infrastructure, energy and natural resources. Reko Diq, located in Balochistan, is one of the world's largest undeveloped copper-gold deposits. It is being developed by Barrick Gold, which holds 50 percent, with the remainder split between Pakistan's federal and provincial governments. Production is expected to begin in 2028. Barrick has projected the mine will generate up to $74 billion in free cash flow over its estimated 37-year life.
CNA
7 days ago
- Business
- CNA
IFC to provide $400 million loan for Pakistan's copper-gold Reko Diq mine
ISLAMABAD : The International Finance Corporation will provide a $400 million subordinated loan for Pakistan's Reko Diq copper-gold mine, according to an IFC disclosure on Friday. The loan adds to a $300 million commitment announced in April, bringing IFC's total financing for the project to $700 million. The estimated cost of the mine is $6.6 billion, to be funded through a mix of debt and equity from a consortium of lenders. 'The estimated total Project cost is $6.6bn, and it will be financed using a combination of debt and equity,' the disclosure said, adding that other parallel lenders will provide the remaining debt financing. This type of loan, known as subordinated debt, is typically repaid after other senior loans and helps absorb more risk, making it easier for other lenders to invest. Other financiers, including the U.S. EXIM Bank, Asian Development Bank, Export Development Canada, and Japan's JBIC, are also expected to join the financing package, project director Tim Cribb told Reuters in April. Term sheets are expected to close by early in the third quarter. IFC chief Makhtar Diop said earlier this year that the institution was 'doubling down' on Pakistan, with a focus on infrastructure, energy and natural resources. Reko Diq, located in Balochistan, is one of the world's largest undeveloped copper-gold deposits. It is being developed by Barrick Gold, which holds 50 per cent, with the remainder split between Pakistan's federal and provincial governments. Production is expected to begin in 2028. Barrick has projected the mine will generate up to $74 billion in free cash flow over its estimated 37-year life.
Reuters
7 days ago
- Business
- Reuters
IFC to provide $400 million loan for Pakistan's copper-gold Reko Diq mine
ISLAMABAD, June 13 (Reuters) - The International Finance Corporation will provide a $400 million subordinated loan for Pakistan's Reko Diq copper-gold mine, according to an IFC disclosure on Friday. The loan adds to a $300 million commitment announced in April, bringing IFC's total financing for the project to $700 million. The estimated cost of the mine is $6.6 billion, to be funded through a mix of debt and equity from a consortium of lenders. 'The estimated total Project cost is $6.6bn, and it will be financed using a combination of debt and equity,' the disclosure said, adding that other parallel lenders will provide the remaining debt financing. This type of loan, known as subordinated debt, is typically repaid after other senior loans and helps absorb more risk, making it easier for other lenders to invest. Other financiers, including the U.S. EXIM Bank, Asian Development Bank, Export Development Canada, and Japan's JBIC, are also expected to join the financing package, project director Tim Cribb told Reuters in April. Term sheets are expected to close by early in the third quarter. IFC chief Makhtar Diop said earlier this year that the institution was 'doubling down' on Pakistan, with a focus on infrastructure, energy and natural resources. Reko Diq, located in Balochistan, is one of the world's largest undeveloped copper-gold deposits. It is being developed by Barrick Gold ( opens new tab, which holds 50%, with the remainder split between Pakistan's federal and provincial governments. Production is expected to begin in 2028. Barrick has projected the mine will generate up to $74 billion in free cash flow over its estimated 37-year life.
