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Colossus Resources Corp. ( (TSE:CLUS) ) has provided an announcement.
Colossus Resources Corp. has provided an update on its option agreement to acquire the Calvario and Mirador Copper Porphyry projects in Chile, which are currently owned by the Austral Group. The projects are located in the Coquimbo Region of Chile and target primarily porphyry copper systems. The company is working to complete the required financing amidst challenging market conditions, with the optionor extending the financing deadline to June 15, 2025. Additionally, Colossus announced a non-brokered private placement financing to raise up to $5.25 million, which will be used for working capital, Chilean mineral title fees, and advancing exploration programs. The financing will be completed in tranches, with securities subject to a four-month hold period.
More about Colossus Resources Corp.
Colossus Resources Corp. is a junior mineral exploration company focused on enhancing shareholder value through the acquisition, discovery, and advancement of high-quality copper and gold projects in the Americas.
YTD Price Performance: -18.18%
Average Trading Volume: 23,953
Technical Sentiment Signal: Strong Buy
For an in-depth examination of CLUS stock, go to TipRanks’ Stock Analysis page.