Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF) earlier this week hit two major milestones at its Johnson Camp project in Arizona.
The company has produced its first copper using Nuton’s proprietary heap leaching technology and completed the repayment of US$7.3 million in non-convertible debt.
COO Robert Winton said the copper production marks a significant operational step for the company and for Nuton, a Rio Tinto venture developing biotechnological approaches to copper recovery. He said the method has the potential to change how copper is produced by removing the need for traditional concentration, smelting, and refining stages.
The company said the use of Nuton’s biotechnology allows for the direct leaching of chalcopyrite, a common copper sulfide mineral. Gunnison is now producing copper cathode at the gate, and it believes this approach could offer particular advantages for the domestic copper market in the US.
Winton told investors the company had also made important progress on its balance sheet. It has fully repaid its US$7.30 million Nebari non-convertible debt. The company said this frees up its financial position as it prepares for further development work in 2026.
Looking ahead, the company expects 2026 to be a key year. It plans to release a Preliminary Economic Assessment (PEA) in the first quarter, followed by a major financing to fund pre-feasibility work. It will then advance permitting and begin drilling for the flagship Gunnison project.
The company said the dual-track progress on operations and financial restructuring sets it up to deliver on its growth strategy over the coming 12 months.