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LOS ANDES COPPER LTD - LSANF STOCK NEWS

Welcome to our dedicated page for LOS ANDES COPPER news (Ticker: LSANF), a resource for investors and traders seeking the latest updates and insights on LOS ANDES COPPER stock.

Los Andes Copper Ltd. is an exploration and development company with a 100% interest in the Vizcachitas Project in Chile. The Company is focused on progressing the Project, located along Chile's copper belt, into production. Vizcachitas is one of the largest copper deposits in the Americas and is positioned to become Chile's next major copper mine. The Project is a copper-molybdenum porphyry deposit situated 150 kilometers north of Santiago with strong infrastructure support. For more information, visit the company's website.
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Los Andes Copper (TSXV: LA) (OTCQX: LSANF) provides an industry update following London Metal Exchange (LME) Week 2024. The event focused on ESG, the green transition, and sustainability in the metals industry. Copper was voted as the 'top prospect' for base metals, receiving 46% of the vote at the LME Metals Seminar.

Copper prices reached record highs of over $11,100 per tonne in May 2024. Analysts predict a significant deficit in long-term copper supply, with demand expected to rise due to the transition to greener energies. Morgan Stanley analyst Amy Gower noted an 'impending lack of supply' due to insufficient capex in copper.

Los Andes Copper's Vizcachitas Project in Chile is positioned to help address this supply gap. Eduardo Covarrubias, Chairman of Los Andes, emphasized the importance of copper in meeting net zero goals and the company's role in providing a sustainable supply.

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Los Andes Copper (TSXV: LA) (OTCQX: LSANF) has disclosed that its second-largest shareholder, Resource Capital Fund VI L.P. (RCF), has been selling shares of the company. Based on insider reports filed on September 10, 2024, RCF sold Los Andes shares over 19 trading days between July 23 and September 9, 2024. Prior to these sales, RCF held a direct interest of approximately 13.6% in Los Andes, as well as an indirect beneficial ownership of about 9% through its equity stake in Turnbrook Mining , the company's largest shareholder. This information came to Los Andes' attention on September 10, 2024, and has prompted inquiries from several shareholders.

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Los Andes Copper's CEO, Santiago Montt, has been invited by the Chilean government to participate as a panelist at the Chile Day Paris event. This public-private collaboration, sponsored by the Chilean Ministry of Finance, aims to position Chile as an attractive destination for foreign investment. The event occurs four times a year in major cities.

Montt will participate in a panel discussing 'Stimulating Investment and Growth: Accelerating Permits and Improving Regulation Benchmarks and Trends'. The panel, led by Francisco Saffie from the Ministry of Finance, will include representatives from BHP, Eren Groupe, and Los Andes Copper. Montt expressed pleasure in sharing experiences from a greenfield project perspective, highlighting the government's efforts to improve regulations and permitting processes to maintain Chile's leadership in attracting foreign investment.

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Los Andes Copper (TSXV: LA) (OTCQX: LSANF) has announced its decision to issue 16,879 common shares at a deemed price of US$6.22 (C$8.48) to Queen's Road Capital Investment This issuance is to satisfy US$104,988 (C$143,066) in interest payments on three convertible debentures totaling US$14 million. The debentures, issued in 2021 and 2022, carry an 8% interest rate, with 5% payable in cash and 3% in shares. The share price for interest payments is determined by the higher of the 20-day volume-weighted average price or the Discounted Market Price as defined by TSX Venture Exchange policies. This transaction is subject to regulatory approvals, including TSX-V approval.

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Los Andes Copper LSANF announced key developments for its Vizcachitas Project. Desala Petorca, a desalination project important for water security in Chile's drought-affected Petorca Province, formed a strategic alliance with Colbún S.A., a major Chilean power company. Colbún's investment and control of the project vehicle further validates the desalination project, which will supply water to Vizcachitas.

Additionally, Los Andes streamlined its royalty agreement with Franco Nevada , simplifying execution once Vizcachitas begins production. The company received a US$1,020,000 interest-free prepayment from future royalties. These developments significantly de-risk the Vizcachitas Project by ensuring sustainable water supply and strengthening the company's financial position without shareholder dilution.

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Los Andes Copper announced that it will issue 13,944 common shares to satisfy US$104,998 in interest payments on US$14 million convertible debentures held by Queen's Road Capital. The debentures, issued between June 2021 and September 2022, carry an 8% interest rate with interest payable quarterly—5% in cash and 3% in shares. The shares will be issued at a price of US$7.53 each, subject to regulatory approvals. This decision aligns with the terms of the debentures, which require that shares be issued at the greater of the 20-day volume-weighted average price or the Discounted Market Price as defined by TSX-V policies.

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Los Andes Copper announced a board change with Non-Executive Director Warren Gilman stepping down due to other business commitments. Gilman will become a Senior Advisor to the Board, remaining supportive. Chairman Eduardo Covarrubias expressed gratitude for Gilman's support and highlighted the company's advantageous position with an advanced copper deposit amid increasing demand and projected supply deficit.

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Los Andes Copper Ltd. issues 12,012 common shares to Queen's Road Capital to settle US$104,985 in interest on Convertible Debentures. The shares are valued at US$8.74 (C$11.79) each, following the terms of the debentures.
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Los Andes Copper Ltd. (LSANF) has issued 40,000 options to management as part of the Stock Option Plan, exercisable at $15.00 with an expiration date of December 30, 2026. The CEO, Santiago Montt, highlighted the successful delivery of the Pre-Feasibility Study in 2023 and the company's active engagement with the community, particularly with female entrepreneurs and social organizations in Putaendo. The company continues to make progress on the Vizcachitas project and looks forward to providing further updates.
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Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) issues 12,365 common shares to Queen's Road Capital as payment for US$104,979 in interest on the Convertible Debentures. The Convertible Debentures require quarterly interest payments, with five percent in cash and three percent in shares. The issuance of Common Shares is subject to approval from the TSX-V.
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FAQ

What is the current stock price of LOS ANDES COPPER (LSANF)?

The current stock price of LOS ANDES COPPER (LSANF) is $6 as of October 15, 2024.

What is the market cap of LOS ANDES COPPER (LSANF)?

The market cap of LOS ANDES COPPER (LSANF) is approximately 172.0M.

What is the main focus of Los Andes Copper Ltd.?

The company is dedicated to advancing the Vizcachitas Project in Chile, aiming to bring the major copper deposit into production.

Where is the Vizcachitas Project located?

The Project is situated along one of Chile's most prolific copper belts, 150 kilometers north of Santiago.

What makes Vizcachitas unique?

Vizcachitas is one of the largest copper deposits in the Americas not controlled by major companies, positioning it to become Chile's next major copper mine.

What type of deposit is Vizcachitas?

Vizcachitas is a copper-molybdenum porphyry deposit.

Who is the Chief Geologist of Los Andes Copper Ltd.?

Antony Amberg CGeol FGS serves as the Company's Chief Geologist.

What is the contact information for Los Andes Copper Ltd.?

For more details, you can contact Santiago Montt, CEO, at santiago.montt@losandescopper.com or Elizabeth Johnson, Investor Relations, at elizabeth.johnson@losandescopper.com.

Where can I find additional information?

Visit the official website of Los Andes Copper Ltd. at www.losandescopper.com for more comprehensive details.

What are the company's social initiatives?

Los Andes Copper is actively engaged in community development, including programs with female entrepreneurs and social organizations in Putaendo.

Who is listed on the TSX under the ticker QRC?

Queen's Road Capital Investment Ltd., a key financier in the global resource sector.

What type of investment does Queen's Road Capital focus on?

The company invests in both privately held and publicly traded resource companies, emphasizing convertible debt securities and projects in advanced development or production.

What is the objective of Los Andes Copper Ltd.?

The primary goal is to bring the Vizcachitas Project into production, leveraging its significant copper resources to become a major mine in Chile.

LOS ANDES COPPER LTD

OTC:LSANF

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LSANF Stock Data

171.97M
10.99M
49.22%
14.49%
Copper
Basic Materials
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United States of America
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