Arizona Sonoran Copper (TSX: ASCU, OTCQX: ASCUF) plans to finish a prefeasibility study on the Cactus project by the end of this year followed by a construction decision within 12 months.
Arizona Sonoran is to begin permit applications after the study to leverage the state‑led streamlined process. Final permits are expected by mid‑next year for the $2.03 billion net present vale project at an 8% discount rate, CEO George Ogilvie said in a video interview.
“We completed 43,000 metres of drilling for the prefeasibility study and expect assays back by the end of July,” Ogilvie told The Northern Miner early this month at an industry event in Boca Raton, Fla. “Producing copper cathode in the U.S. for domestic consumption is going to be fortunate timing for us over the course of the next three to four years.”
Since the Aug. 2024 preliminary economic assessment, the company reached important milestones. It reduced a combined 3.2% royalty before the July 10 deadline, benefiting shareholders. It also completed a $52-million (US$-38 million) bought-deal financing, fully funding work until a construction decision. Additionally, Hudbay Minerals (TSX, NYSE: HBM)secured a 9.9% stake.
Watch below the full interview with The Northern Miner’s Western Editor, Henry Lazenby.
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