BHP invests in Canadian copper explorer Brixton
Canadian exploration junior Brixton Metals on Wednesday announced a nonbrokered private placement by diversified major BHP, with the goal of advancing the Thorn project, located in north-west British Columbia.
“We are excited to welcome BHP, a leading global resource company, to the Brixton share register and believe their investment speaks to the strength of the Thorn project and Brixton’s geological team,” said chairperson and CEO Gary Thompson.
He said the Thorn project has the potential to help fill the immense demand for critical metals, such as copper.
The wholly-owned 2 863 km2 Thorn project is located in at the northern extension of the prolific Golden Triangle, about 90 km north-east of Juneau.
BHP will acquire the number of common shares that will represent 19.9% of the issued and outstanding common shares, on an undiluted basis, following completion of the private placement at a price of C$0.18 a share. The exact number of shares issued, and proceeds raised, will depend on whether Crescat Portfolio Management elects to exercise its pre-existing rights to participate on a pro rata basis in equity financings by the company to maintain its current interest of about 13.47%.
If Crescat does not elect to exercise its participation rights, then 74 363 172 common shares will be issued to BHP for aggregate gross proceeds of C$13.4-million. If Crescat elects to exercise its participation rights in full, then it is expected that 77 354 983 common shares will be issued to BHP for aggregate gross proceeds of C$13.9-million and 12 042 415 common shares will be issued to Crescat for aggregate gross proceeds of C$2.2-million.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
