Soulja777
Nov 14, 6:43 PM
$FCX Freeport-McMoRan Acquires Majority Stake in Aurora West Project for
$110 Million
TDG Gold agreed to sell a 51% interest in its Aurora West copper-gold project in British Columbia to Freeport-McMoRan Mineral Properties Canada for C
$110 million in cash.
Freeport will gain options to increase its stake to 75% and potentially 100% in parts of the asset through up to C
$120 million in additional funding and payments.
The arrangement expands Freeport-McMoRan’s copper-gold project pipeline in British Columbia, integrates the asset into its existing AuRORA Minerals and Amarc joint venture framework, and leaves TDG with a 25% joint venture interest plus a 2% net smelter returns royalty, half of which Freeport can repurchase for C
$30 million.
This deal adds another large-scale copper-gold project to Freeport-McMoRan’s early-stage portfolio.
Via; Simply Wall St.
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