Home Uncategorized Arizona Sonoran Copper Raises C $ 35 Million, Including Rio Tinto Strategic...

Arizona Sonoran Copper Raises C $ 35 Million, Including Rio Tinto Strategic Investments


Image source: Arizona Sonoran Copper

Arizona Sonora Copper ( ASKUF; Toronto: ASCU) announced on Thursday the private placement of Canadian dollars ($ 27.5 million) in a deal that was increased due to strong demand.

The company will issue up to 17.5 million common shares at a price of C $ 2.00 per share.

World Mining Company Rio Tinta (

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RIA) subscribe for 6.4 million shares, or about 36.5% of the private placement. Following the close of the deal, Rio Tinto will own about 7.2% of Arizona Sonoran Copper.

In conjunction with the investment, Rio Tinto and Arizona Sonoran Copper have entered into a strategic partnership in which Arizona Sonoran Copper will deploy Rio Tinto’s Nuton copper leaching technology. Nuton is designed to provide increased copper emissions with low carbon footprint and reduced waste.

Tembo Capital Elim Co-Investment LP, a current investor, will subscribe for 6.4 million common shares, which will reduce its net stake from 37.6% to 34.6% in Arizona Sonoran Copper.

Arizona Sonoran Copper’s main asset is a 100% stake in the Cactus project, located approximately 44 miles south of Phoenix International Airport, near the town of Casa Grande. From a geological point of view, the project is located on the convergence of three major copper-porphyry belts.

Investment dissertation

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Arizona Sonoran Copper went public on the Toronto Stock Exchange in November 2021, increasing gross revenue of C $ 45 million to C $ 2.45 per share. Over the past six months, the shares have been mostly below the issue price, but we believe that investors have reason to be optimistic about the prospects of this small capitalization.

  • Rio Tinto’s investments are supported by the Cactus project from a major industry.
  • Arizona Sonoran Copper began trading on the OTCQX Best Market on March 29, 2022, which should increase visibility and liquidity.
  • The foundations of the global copper market are strong.
  • Growing demand for electric vehicles should support copper prices over the next decade.
  • In the short term, copper prices are strongly correlated with inflation.
  • The company focuses heavily on other major copper developers.

    Click to enlarge

Image source: Arizona Sonoran Copper


Source: Stock news

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