Mentioned:
One of the largest publicly traded precious metals royalty companies in the world is pouring millions of dollars into a mine in New Brunswick, Canada. But, why?
What’s happening:
- Canadian Copper (CSE: CCI) has secured $96M CAD in funding commitments from royalty and streaming giant OR Royalties (NYSE: OR) and global metals trading company Ocean Partners
By the numbers:
- OR Royalties will invest roughly $38.5M CAD in exchange for 20% of all silver and gold produced from Canadian Copper’s Bathurst Complex project located in New Brunswick, Canada
- Ocean Partners will provide up to $48M CAD debt financing in exchange for 100% of the concentrate off takes from the Bathurst Complex project
Why it matters:
- Canadian Copper owns the Bathurst Complex which contains both the Murray Brook open pit deposit as well as their Caribou processing plant for copper, lead, zinc and silver concentrates
Going deeper:
- Canadian Copper’s Murray Brook mine is located on more than 5,000 hectares of land and contains large deposits of copper, silver, gold and zinc
- Ocean Partners and OR Royalties will also invest up to $10.5M CAD into Canadian Copper for common shares as part of the new funding commitment
