Los Andes Copper Closes On US$5 Million Convertible Debt Financing

Los Andes Copper Ltd. (TSXV: LA) today reported on the closing of their convertible debenture financing for US$5 million. The financing was originally announced by the company nearly a month ago, on May 3.

The convertible debenture was issued to Queen’s Road Capital Investment Ltd. (CVE:QRC) and has a five-year term while carrying an eight per cent coupon. The debt is convertible into common shares of the equity at a price of $10.82 per share. Interest will be payable quarterly at 5% in cash and 3% in shares, based on a 20-day volume weighted average price prior to the interest payment date.

Proceeds from this investment will be allocated towards the completion of the Vizcachitas project and a refined pre-feasibility study.

Vizcachitas is a copper-molybdenum porphyry deposit, located north of Santiago, Chile. The project has a post-tax NPV (8% discount rate) of approximately USD$1.8 billion and an IRR of 20.77%, based on a $3 per pound copper price. The Vizcachitas Project has a measured resource of 254.4 million tons at a grade of 0.439% copper and an indicated resource of approximately 1.03 billion tons at a grade of 0.385% copper.

Los Andes Copper Ltd. last traded at C$7.45 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

200 Grams of Gold And 21% Copper — That’s Not Normal | Matt Wilson – Sterling Metals

Silver at $100? This Time It Might Stay There. | David Morgan

Critical Minerals Are Rerating! | John Passalacqua – First Phosphate

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

Spruce Ridge Releases Final Assays From Copper-Focused Drill Program

Spruce Ridge Resources (TSXV: SHL) this morning reported the final assay results from its 2020...

Thursday, March 18, 2021, 09:32:35 AM

Nevada Copper: Underground Copper Mine May Begin Commercial Production in 1Q 2021

On December 29, Nevada Copper Corp. (TSX: NCU) announced that it had completed the materials...

Friday, January 1, 2021, 09:00:00 AM

Zambia Courts Global Carmakers for Local EV Production

Zambia is aggressively courting international automakers to establish electric vehicle component manufacturing plants near its...

Monday, July 7, 2025, 02:57:00 PM

Adventus, Salazar Intersect 4.35% Copper Equivalent Over 67.0 Metres At El Domo Deposit

Adventus Mining Corporation (TSXV: ADZN) and Salazar Resources Limited (TSXV: SRL) announced this morning the...

Tuesday, June 1, 2021, 08:36:02 AM

Frank Holmes: The Rising Tide Of Commodities – The Daily Dive

For this weeks final episode of The Daily Dive, we’re joined by Frank Holmes, CEO...

Friday, January 29, 2021, 02:35:37 PM