RE:This is dirt cheap Maybe dirt cheap for a few more months however Nova Royalty Corp according to the expert recently on the David Lin show (youtube) and holding that royalty says C.W. will be positive and the size of Copper World makes the USA less likely to have to buy from the Chinese. Not strategic metal just yet however being located state side is a big bonus. Sooner or later Cu may be reclassified as electrification increases demand.
Nova Royalty Corp. (TSXV: NOVR) entered Tuesday into an agreement with arm's length private parties pursuant to which Nova will acquire an additional 0.12% net smelter return royalty, on the Copper World Complex located in Arizona, USA, owned by Hudbay Minerals Inc. (TSX and NYSE: HBM).
According to a statement, Nova's consolidated royalty position will be a 0.285% NSR on Copper World upon closing. Nova retains a right of first refusal in respect of an additional 0.390% NSR held by the sellers, upon completion of the transaction.
Hashim Ahmed, Nova's Interim CEO, in the statement said, "We are pleased to increase our NSR royalty once again on Hudbay's Copper World project. Copper World is a large-scale, premier copper development asset located in one of the United States' most strategic copper districts. We are encouraged by the progress that Hudbay has made as it continues to steadily advance Copper World toward a construction decision. Gaining additional royalty exposure to a long-lived asset such as Copper World further strengthens Nova's portfolio of high-quality copper and nickel royalties."