Western Copper and Gold Corp T.WRN

Japan Metal

[EvenSteven27]

https://www.japanmetal.com/news-h20230327125834.html

[EvenSteven27]

Mitsubishi Materials Corporation announced on the 27th that it will invest in Western Copper and Gold Corporation (WRN), a Canadian mining company. Acquired 5% of the shares for approximately 21 million Canadian dollars (approximately 2 billion yen) by subscribing to a third-party allotment of new shares. WRN is developing a casino copper mine in the Yukon Territory, aiming to start production in

[EvenSteven27]

"Through capital participation, the company plans to acquire offtake (purchase) rights for the ore mined at the mine."  That does answer a big question, doesn't it? 

[dfwrgk]

2030 producing mine... Does anyone know how this off take agreement was worded in the deal?  Are we agreeing to allow them to purchase 5% of the mine's production at market rates, then?  We certainly should not be giving them 5% at no cost in perpetuity for their small investment today... I assume we are just giving them the first-right to buy the production. 

[jclarke042]

We'll see the agreement on closing, they'll file it on SEDAR.