Gunnison Copper Corp CEO Stephen Twyerould joined Steve Darling from Proactive to announce that the company has launched a non-brokered private placement to raise gross proceeds of up to C$15 million, with Red Cloud Securities Inc. acting as finder in connection with the financing.
Twyerould explained that net proceeds from the offering will be allocated toward drilling, metallurgical testing, and permitting activities, all of which will feed into a Pre-Feasibility Study (PFS) for the company’s flagship Gunnison Copper Project in Arizona. In addition, a portion of the proceeds will be used for the partial repayment of outstanding debt owed to Nebari Holdings.
The Gunnison Copper Project is among the most advanced in-situ recovery copper projects in North America, with a Measured and Indicated Mineral Resource of over 831.6 million tons grading 0.31% copper, including 640.2 million tons at 0.29% copper in the Indicated category. The company’s Preliminary Economic Assessment (PEA) highlighted robust project economics, including an NPV (8%) of US$1.3 billion, an internal rate of return (IRR) of 20.9%, and a payback period of just over four years.
Twyerould emphasized that this raise represents an important step in advancing the Gunnison Project toward pre-feasibility, positioning Gunnison Copper for the next stage of development in a rising copper price environment driven by the global energy transition.
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