Shares of Arizona Sonoran Copper Company Inc. (TSX:ASCU) (OTCQX:ASCUF) would be on the radar after releasing an important update.
Arizona Sonoran Closes C$5.8 Million Private Placement with Hudbay Minerals
US-based copper development firm Arizona Sonoran Copper Company Inc. (TSX:ASCU) (OTCQX:ASCUF), which is engaged in advancing the Cactus Project in Arizona, has successfully closed a C$5.8 million non-brokered private placement with Hudbay Minerals Inc. The investment stems from Hudbay’s decision to exercise its pre-emptive rights under the existing Investor Rights Agreement dated January 31, 2025, in connection with ASCU’s previously announced C$51.75 million bought deal public offering.
Hudbay subscribed for 2,907,612 common shares at C$2.00 per share, maintaining its 9.9% ownership stake in the company and generating C$5,815,224 in gross proceeds. With this transaction complete, ASCU now holds approximately US$61.7 million in cash and has 177,569,382 common shares outstanding.
George Ogilvie, president and CEO of ASCU, welcomed the investment as a strong endorsement of the Cactus Project. He highlighted that Hudbay’s participation reinforces market confidence as ASCU transitions from its 2024 Preliminary Economic Assessment (PEA) to a pre-feasibility study. The company continues to make strides toward a potential Final Investment Decision by Q4 2026.
Ogilvie added that the company’s work in 2025—including engineering, metallurgy, drilling, and cost-reduction strategies—has significantly de-risked the project and positioned it for long-term success. ASCU expressed appreciation to all shareholders for their continued support as it advances toward copper production.
ASCU contains a large-scale porphyry copper resource and is looking for a generational open-pit copper mine with solid returns.
Technicals
+/- EMA(20) | 1.65 (+6.67%) |
+/- SMA(50) | 1.54 (+14.29%) |
+/- SMA(200) | 1.29 (+36.43%) |
5-Day Perf. | +6.09% |
1-Month Perf. | +12.82% |
3-Month Perf. | +16.94% |
6-Month Perf. | +62.21% |
YTD Perf. | +74.26% |
1-Year Perf. | +77.6% |
RSI(14) | 62.96 |
ATR(14) | 0.08 |
ADX(14) | 27.09 |