Nobel Secures 100% Stake in Chilean Copper Ventures via Option Agreements
Deal News | Jan 06, 2025 | Globenewswire
Nobel Resources Corp., listed on the TSX Venture Exchange, has announced a strategic move to acquire a 100% interest in four noteworthy copper projects in the Antofagasta region of Chile. The projects, known as Cuprita, Janett, Pampa Austral, and Anais, are set to be acquired through option agreements by the company's fully-owned Chilean subsidiary, Mantos Grandes Resources Chile SpA. Cuprita, the most advanced of these projects, is situated in a well-established copper-producing area and is recognized for its potential to host significant porphyry copper deposits. The agreement delineates various payment schedules leading up to the full acquisition, with completion pending regulatory approvals. Nobel's technical team highlights the strategic advantages of these acquisitions, emphasizing the geological potential and the proximity to essential mining infrastructure, which bodes well for year-round exploration.
Sectors
- Mining
- Natural Resources
Geography
- Chile – The geographical focus of the acquisition is in the Antofagasta region, a major copper mining area in Chile.
- Canada – Nobel Resources Corp., the acquiring company, is based in Canada.
Industry
- Mining – The primary focus of the article is on the acquisition of copper mining projects in a key copper-producing region.
- Natural Resources – The article involves exploration and development of mineral resources, specifically copper, in Chile.
Financials
- USD$20K-1M – Structured cash payments over a four-year period for each project, culminating in a USD$1M payment for the Cuprita and Pampa Austral projects, USD$500K for the Janett and Anais projects to secure full interest.
- 2.5 million Nobel shares – Share issuance as part of the transaction to acquire the projects.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nobel Resources Corp. | Acquiring Company | Company | A Canadian resource company focused on mineral exploration, particularly in copper mining. |
| Mantos Grandes Resources Chile SpA | Subsidiary | Company | Nobel Resources' fully-owned subsidiary responsible for acquiring copper projects in Chile. |
| Austral Exploraciones SpA | Vendor | Company | A privately owned Chilean exploration company involved in the option agreements with Nobel. |
| Larry Guy | CEO | Person | Chief Executive Officer and Director of Nobel Resources Corp. |
| Vern Arseneau | COO | Person | Chief Operating Officer and Director of Nobel Resources Corp. |