CASA GRANDE, Ariz. & TORONTO, February 13, 2025–(BUSINESS WIRE)–Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging U.S. copper developer, is pleased to report that RG Royalties LLC, a subsidiary of Royal Gold Inc. (RLGD:NASDAQ) has purchased an existing 2.5% net smelter royalty (“NSR”) on a portion of the Cactus Project for cash consideration of US$55 million from Tembo Capital. ASCU has the right to buy back 0.5% of Royal Gold’s aggregate 2.5% NSR for US$7 million, by July 10, 2025.George Ogilvie, ASCU President, CEO and Director commented, “We are pleased to see the royalty move to a top calibre royalty and streaming company, with a history of participating in project financing packages and a positive prior experience with our management team. We believe that Royal Gold, as the acquiror, is yet another strong endorsement and recognition of the Cactus Project and its go-forward plan, by a sophisticated mining financier. Our team has dedicated itself to growing the asset to a significant size, securing water, permits, community support and, as reflected in our 2024 PEA, demonstrating a capital efficient project with robust forecast economics. We will continue to de-risk and advance Cactus as we move forward with various technical studies, through pre‑feasibility to definitive feasibility study, to an eventual final investment decision.”In 2020, a Tembo Capital fund initially purchased the 2.5% NSR, as part of an aggregate 3.18% NSR financing with Resource Capital Funds w …
See the full article on Arizona zoning regulations, or, read more Arizona real estate investing news. It’s up to you!