Los Andes Copper Announces Signing of Royalty Agreement With Ecora Resources PLC for US$20,000,000
Los Andes Copper Announces Signing of Royalty Agreement With Ecora Resources PLC for US$20,000,000
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2023) - Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") is pleased to announce that it has entered into a royalty agreement (the "Royalty") with Ecora Resources PLC ("Ecora") for a total cash consideration of US$20,000,000. The Royalty is calculated over the sale of all minerals produced from the Company's Vizcachitas Project in Chile (the "Vizcachitas Project"). Ecora will receive royalty payments calculated as 0.25% Net Smelter Royalty ("NSR") on minerals sold on open pit operations and 0.125% NSR on underground operations.
不列顛哥倫比亞省溫哥華-(Newsfile Corp.-2023年7月24日)-洛斯安第斯銅業有限公司(多倫多證券交易所股票代碼:LA)(OTCQX:LSANF)(以下簡稱洛斯安第斯銅業或本公司)高興地宣佈,它已與埃克拉資源公司(Ecora Resources PLC)簽訂了一項特許權使用費協定“),總現金代價為20,000,000美元。特許權使用費按本公司在智利的Vizcachitas專案(“Vizcachitas專案”)生產的所有礦物的銷售計算。Ecora將就露天作業出售的礦物收取0.25%淨冶煉廠特許權使用費(“NSR”),就地下作業收取0.125%淨冶煉廠特許權使用費。
The Royalty agreement announced today is in addition to the existing NSRs in place on the Project, consisting of a 2% NSR for open pit operations and a 1% NSR on underground operations. The transaction is expected to close in the next two weeks.
今天宣佈的特許權使用費協定是對該專案現有NSR的補充,包括露天作業2%的NSR和地下作業1%的NSR。這筆交易預計將在未來兩周內完成。
Santiago Montt, CEO of Los Andes, commented: "We are very pleased to be entering into a new partnership with Ecora. The investment is testament to the superior quality and potential of the Vizcachitas Project and validates the extensive technical work undertaken by the team over many years. With the proceeds of this transaction, we can accelerate the implementation of a number of optimizations and further upside identified in our April 11, 2023 Pre-Feasibility Study."
洛杉磯安第斯山脈的首席執行官聖地亞哥·蒙特評論道:我們很高興能與Ecora建立新的合作夥伴關係。這筆投資證明瞭Vizcachitas專案的卓越質量和潛力,並驗證了該團隊多年來所做的廣泛技術工作。有了這筆交易的收益,我們可以加快實施我們2023年4月11日的前期可行性研究中確定的一些優化和進一步的上行空間。
Eduardo Covarrubias, Chairman of Los Andes, commented: "This transaction further strengthens the Company's balance sheet to a point never seen before. Los Andes is now in a unique position to evaluate and implement multiple shareholder value enhancing options at a project level including drilling and additional fieldwork and, subject to the required approvals, share buy backs to the extent they present attractive accretion opportunities for our shareholders."
洛斯安第斯山脈主席愛德華多·科瓦魯比亞斯評論說:這筆交易進一步加強了公司的資產負債表,達到了前所未有的程度。洛斯安第斯現在處於獨特的地位,可以在專案層面評估和實施多種股東價值提升選項,包括鑽探和額外的實地工作,並在所需批准的情況下,在為我們的股東提供有吸引力的增值機會的程度上回購股票。
Marc Bishop Lafleche, CEO of Ecora, commented: "The energy transition is expected to drive copper demand to new levels and we are delighted to add Vizcachitas to our growing portfolio of copper royalties. This transaction further complements our copper royalty exposure which is underpinned by a development pipeline poised to deliver continued growth until the middle of the next decade. Vizcachitas fits our core investment criteria as a large scale, low cost, and long-life project in an established mining region."
Ecora首席執行官梅克·畢曉普·拉弗萊切評論道:能源轉型預計將推動銅需求達到新的水準,我們很高興將Vizcachitas添加到我們日益增長的銅特許權使用費組合中。這筆交易進一步補充了我們的銅特許權使用費敞口,這一風險敞口得到了一條開發管道的支持,該管道有望實現持續增長,直到下個十年中期。Vizcachitas符合我們的核心投資標準,即在一個成熟的礦區進行大規模、低成本和長壽命的專案。
RBC Capital Markets is acting as financial advisor to Los Andes in connection with this transaction.
加拿大皇家銀行資本市場公司擔任與這筆交易有關的洛斯安第斯山脈的財務顧問。
The Transaction
這筆交易
The transaction considers a price of US$20,000,000 for a 0.25% open pit NSR and a 0.125% underground NSR over the entire Vizcachitas Project. The NSR rates will be subject to certain adjustments in the event of delays in beginning production:
該交易考慮以20,000,000美元的價格收購整個Vizcachitas專案的露天NSR為0.25%,地下NSR為0.125%。如果投產延遲,NSR費率將受到某些調整:
- If the start of production is delayed up to June 30, 2030 no adjustments are applied
- If delays extend beyond June 30, 2030 and up to June 30, 2031, there is a first rate increase of 0.10% for open pit operations and 0.05% for underground operations
- If delays extend beyond June 30, 2031 and up to June 30, 2032, there is a second rate increase of 0.10% for open pit operations and 0.05% for underground operations
- If delays extend beyond June 30, 2032, there is a third rate increase of 0.10% for open pit operations and 0.05% for underground operations
- The Company has the option to avoid the second and third rate increases by paying at the time of those rate increases an amount equal to US$15,000,000 (US$20,000,000 if copper prices at that time exceed US$5/lb)
- 如果將投產推遲到2030年6月30日,則不會進行任何調整
- 如果延誤超過2030年6月30日至2031年6月30日,露天作業第一次增加0.10%,地下作業增加0.05%
- 如果延誤超過2031年6月30日至2032年6月30日,露天作業第二次增加0.10%,地下作業第二次增加0.05%
- 如果延誤超過2032年6月30日,露天作業將第三次增加0.10%,地下作業將增加0.05%
- 公司有權在第二次和第三次加息時支付相當於15,000,000美元的金額(如果當時銅價超過5美元/磅,則支付20,000,000美元),以避免第二次和第三次加息
About Los Andes Copper Ltd.
關於洛斯安第斯銅業有限公司
Los Andes Copper Ltd. is a development company with an 100% interest in the Vizcachitas Project in Chile. The Company is focused on progressing Vizcachitas, which is located along one of Chile's most prolific copper belts. Vizcachitas is one of the largest copper deposits in the Americas not controlled by the majors and the Company believes it will be Chile's next major copper mine.
洛斯安第斯銅業有限公司是一家開發公司,在智利的Vizcachitas專案中擁有100%的權益。該公司專注於Vizcachitas的進展,Vizcachitas位於智利最高產的銅礦帶之一。Vizcachitas是美洲最大的銅礦之一,不受各大銅礦公司控制,公司相信它將成為智利的下一個主要銅礦。
The Project is a copper-molybdenum porphyry deposit, located 150 kilometers north of Santiago, in an area of very good infrastructure. An independent technical report for the PFS, prepared in accordance with NI 43-101, is available on the Company's SEDAR profile.
該專案是一個銅鉬斑岩礦床,位於聖地亞哥以北150公里處,基礎設施非常完善。根據NI 43-101編寫的關於PFS的獨立技術報告可在公司的SEDAR簡介中查閱。
Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.
洛杉磯安第斯銅業有限公司在多倫多證券交易所上市,股票代碼:LA。
About Ecora Resources PLC
關於Ecora Resources PLC
Ecora Resources is a leading royalty company focused on supporting the supply of commodities essential to creating a sustainable future.
Ecora Resources是一家領先的特許權使用費公司,專注於支持對創造可持續未來至關重要的大宗商品的供應。
Ecora's vision is to be globally recognised as the royalty company of choice synonymous with commodities that support a sustainable future by continuing to grow and diversify its royalty portfolio in line with its strategy. The company will achieve this through building a diversified portfolio of scale over high quality assets that drives low volatility earnings growth and shareholder returns.
Ecora的願景是被全球認可為首選的特許權使用費公司,通過根據其戰略繼續增長和多樣化其特許權使用費組合,成為支持可持續未來的大宗商品的代名詞。該公司將通過在優質資產上建立多元化的規模組合來實現這一目標,以推動低波動性的收益增長和股東回報。
The mining sector has an essential role to play in the energy transition, with commodities such as copper, nickel and cobalt - key materials for manufacturing batteries and electric vehicles. Copper also plays a critical role in our electricity grids. All these commodities are mined and there are not enough mines in operation today to supply the volume required to achieve the energy transition.
礦業在能源轉型中發揮著至關重要的作用,銅、鎳和鈷等大宗商品是製造電池和電動汽車的關鍵材料。銅在我們的電網中也扮演著關鍵的角色。所有這些大宗商品都是開採的,目前正在開採的礦山不足以供應實現能源過渡所需的數量。
Ecora's strategy is to acquire royalties and streams over low-cost operations and projects with strong management teams, in well-established mining jurisdictions. The company's portfolio has been reweighted to provide material exposure to this commodity basket and it has successfully transitioned from a coal orientated royalty business in 2014 to one that by 2026 will be materially coal free and comprised of over 90% exposure to commodities that support a sustainable future. The fundamental demand outlook for these commodities over the next decade is very strong, which should significantly increase the value of its royalty portfolio.
Ecora的戰略是在成熟的礦業司法管轄區,通過擁有強大管理團隊的低成本業務和項目獲得特許權使用費和流水。該公司的投資組合已重新加權,以提供對這一大宗商品籃子的重大敞口,並已成功地從2014年的煤炭導向型特許權使用費業務過渡到到2026年將基本上沒有煤炭的業務,其中包括90%以上支持可持續未來的大宗商品敞口。未來十年,這些大宗商品的基本面需求前景非常強勁,這應該會大幅增加其特許權使用費組合的價值。
Ecora's shares are listed on the London and Toronto Stock Exchanges (ECOR) and trade on the OTCQX Best Market (OTCQX: ECRAF).
Ecora的股票在倫敦和多倫多證券交易所(ECOR)上市,並在OTCQX最佳市場(OTCQX:ECRAF)交易。
For more information please contact:
如需更多資訊,請聯繫:
Santiago Montt, CEO
Santiago.montt@losandescopper.com
Tel: +56 2 2954 0450
首席執行官聖地亞哥·蒙特
郵箱:santiago.montt@losandescopper.com
電話:+56229540450
Elizabeth Johnson, Investor Relations
Elizabeth.Johnson@losandescopper.com
投資者關系部伊麗莎白·約翰遜
郵箱:Elizabeth Beth.Johnson@losandescopper.com
E-Mail: info@losandescopper.com or visit our website at
電子郵件:info@losandescopper.com或訪問我們的網站
Follow us on Twitter: @LosAndesCopper
在推特上關注我們:@LosAndesCube
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