Most copper developers are looking for a deposit. We are advancing one that three major operators already found, drilled, tested, studied and permitted, then set aside for reasons that had nothing to do with the geology.
Pukaqaqa carries more than US$60 million of prior investment, an environmental permit previously approved in 2015, and an August 2026 measured and indicated resource of 462 million tonnes at 0.35 percent copper. We have rightsized the path forward around a smaller, higher grade starting point, which lowers capital cost and shrinks the footprint.
A Canadian-led copper developer building a multi-asset portfolio in Peru, with a proven team and a clear path to production.
Our leadership has delivered more than US$1 billion in aggregate value across three prior exits: a twentyfold return on the ATO asset acquired for Steppe Gold, the A$500 million sale of Hunnu Coal, and the A$418 million sale of Avanco Resources. Our advisory board includes the Independent Chair of OR Royalties and the chief executive of K92 Mining.
Pukaqaqa carries more than US$60 million of prior investment, an environmental permit previously approved in 2015, and an August 2026 NI 43-101 resource of 462 million tonnes measured and indicated at 0.35 percent copper. We have rightsized the project around a smaller, higher grade starting point.
Our Peru-based team lives and works in the communities around the project, running participatory programmes and engaging directly with regional authorities to keep permitting transparent and on track. Four members of the team are based in the region full time.
Peru is the third largest copper producer in the world. Pukaqaqa sits in a district that includes Barrick, BHP, Buenaventura, First Quantum, Hochschild, Minsur, Teck and Vale. The geology is proven and so is the operating environment around it.
We are headquartered in Canada and expected to trade on the TSX Venture Exchange, with Canadian institutional shareholders including Dundee Corporation and OR Royalties. We operate under Canadian governance and reporting standards and run the project with local technical expertise on the ground.
Pukaqaqa is the first asset, not the last. We are evaluating further opportunities across the Americas, held to the same standard we apply to our own. We build projects that employ local people and work with local suppliers.