Pecoy Copper secures C$49.8m strategic financing from Hudbay, another investor
TSX-V-listed Pecoy Copper Corp has entered into subscription agreements with TSX- and NYSE-listed Hudbay Minerals and another strategic investor, which have agreed to subscribe for 14.91-million and 9.76-million Pecoy shares, respectively, raising C$49.8-million in financing.
The net proceeds from the private placement will be used to advance exploration and development activities at the flagship Pecoy copper/gold project, in southern Peru.
“We are extremely pleased to announce these strategic equity investments in Pecoy Copper, representing an important milestone for our company. We believe these capital commitments reflect the substantial geological potential of Pecoy and the progress achieved through our exploration programmes.
"This additional capital further strengthens our financial position as we continue to expand our understanding of the mineralised system, pursue resource expansion, growth opportunities and advance technical work required to support the next phase of the project’s development," Pecoy Copper president and CEO Vincent Metcalfe says.
Hudbay CEO Peter Kukielski adds that the Pecoy project is an exciting copper development project in Peru, a jurisdiction where Hudbay has been operating successfully for over a decade.
"This investment helps to facilitate project derisking activities and increases our exposure to a high-quality development project in an attractive copperbelt.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest News
Showroom
The Aluminium Federation of South Africa (AFSA), is the voice of the South African aluminium industry.
VISIT SHOWROOM
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
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
