Mentioned:
Vizsla Copper is buying two new exploration assets in Alaska. And its going to make Agnico Eagle their single largest shareholder.
What’s happening:
- Vizsla Copper (TSXV: VCU) has entered into a purchase agreement with Agnico Eagle (NYSE: AEM) to acquire two exploration assets in Alaska
Why it matters:
- Agnico Eagle will own approximately 19.99% of Vizsla Copper following the successful closing of the acquisition
Going deeper:
- Agnico Eagle’s Delta project is a zinc-gold-silver project located in central Alaska and Helm Bay is a small, early stage gold property located near Ketchikan with under 10,000 ounces of historical production
- Agnico Eagle will keep a 2.0% net smelter royalty on the Delta project and a 3.0% net smelter royalty on the Helm Bay project
- Vizsla Copper is advancing multiple exploration stage copper projects in North America, including their Copperview Project located in central British Columbia, Canada which is located just a few kilometres north of where Kodiak Copper’s (TSX: KDK) Gate Zone project made a significant copper discovery and ultimately led to Teck Resources (NSYE: TECK) acquiring 9.9% of the entire company
The intrigue:
- Vizsla Copper was initially spun out of Vizsla Silver (NYSE: VZLA) and is backed by Canadian natural resource and mining incubator Inventa Capital
