Los Andes Copper Announces Corporate Update
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.
Los Andes Copper LSANF ha annunciato importanti sviluppi per il suo Progetto Vizcachitas. Desala Petorca, un progetto di dissalazione fondamentale per la sicurezza idrica nella Provincia di Petorca, colpita dalla siccità in Cile, ha formata un'alleanza strategica con Colbún S.A., una delle principali aziende energetiche cilene. L'investimento di Colbún e il controllo del veicolo del progetto convalidano ulteriormente il progetto di dissalazione, che fornirà acqua a Vizcachitas.
Inoltre, Los Andes ha semplificato l'accordo sulle royalty con Franco Nevada, rendendo più facile l'esecuzione una volta che Vizcachitas inizierà la produzione. L'azienda ha ricevuto un anticipo senza interessi di 1.020.000 USD dalle royalty future. Questi sviluppi riducono significativamente il rischio del Progetto Vizcachitas, garantendo un approvvigionamento idrico sostenibile e rafforzando la posizione finanziaria dell'azienda senza diluizione per gli azionisti.
Los Andes Copper LSANF anunció desarrollos clave para su Proyecto Vizcachitas. Desala Petorca, un proyecto de desalinización importante para la seguridad hídrica en la provincia de Petorca afectada por la sequía en Chile, formó una alianza estratégica con Colbún S.A., una importante empresa de energía chilena. La inversión y el control de Colbún sobre el vehículo del proyecto valida aún más el proyecto de desalinización, que suministrará agua a Vizcachitas.
Además, Los Andes simplificó su acuerdo de regalías con Franco Nevada, facilitando la ejecución una vez que Vizcachitas comience la producción. La empresa recibió un prepago sin intereses de 1,020,000 USD de regalías futuras. Estos desarrollos reducen significativamente el riesgo del Proyecto Vizcachitas al asegurar un suministro de agua sostenible y al fortalecer la posición financiera de la empresa sin dilución de los accionistas.
로스 안데스 구리 LSANF가 비즈카치타스 프로젝트와 관련된 주요 개발 사항을 발표했습니다. 페토르카(Petorca) 주에서 물 부족 문제를 해결하기 위한 중요한 담수화 프로젝트인 데살라 페토르카(Desala Petorca)는 칠레의 주요 발전사인 콜분 S.A.와 전략적 제휴를 체결했습니다. 콜분의 투자와 프로젝트 차량에 대한 통제는 비즈카치타스에 물을 공급할 담수화 프로젝트를 더욱 정당화합니다.
이외에도 로스 안데스는 프랑코 네바다와의 로열티 계약을 간소화하여 비즈카치타스가 생산을 시작하더라도 실행이 용이해졌습니다. 회사는 미래 로열티에서 1,020,000 USD의 무이자 선급금을 받았습니다. 이러한 개발은 비즈카치타스 프로젝트의 리스크를 크게 줄여 지속 가능한 물 공급을 보장하고 주주 희석 없이 회사의 재무적 입지를 강화하는 데 기여하고 있습니다.
Los Andes Copper LSANF a annoncé des développements clés pour son Projet Vizcachitas. Desala Petorca, un projet de désalinisation important pour la sécurité de l'eau dans la province de Petorca, touchée par la sécheresse au Chili, a formé une alliance stratégique avec Colbún S.A., une grande entreprise énergétique chilienne. L'investissement de Colbún et le contrôle du véhicule de projet valident davantage le projet de désalinisation, qui approvisionnera Vizcachitas en eau.
De plus, Los Andes a rationalisé son accord de redevances avec Franco Nevada, simplifiant l'exécution une fois que Vizcachitas commencera la production. L'entreprise a reçu un paiement anticipé sans intérêt de 1 020 000 USD des redevances futures. Ces développements réduisent considérablement le risque du Projet Vizcachitas en garantissant un approvisionnement en eau durable et en renforçant la position financière de l'entreprise sans dilution pour les actionnaires.
Los Andes Copper LSANF hat wichtige Entwicklungen für sein Vizcachitas-Projekt bekannt gegeben. Desala Petorca, ein für die Wasserversorgung in der von Dürre betroffenen Provinz Petorca in Chile bedeutendes Entsalzungsprojekt, hat eine strategische Allianz mit Colbún S.A., einem großen chilenischen Energieunternehmen, gebildet. Die Investition von Colbún und die Kontrolle über das Projektfahrzeug validieren das Entsalzungsprojekt weiter, das Wasser für Vizcachitas liefern wird.
Darüber hinaus hat Los Andes sein Rahmenabkommen mit Franco Nevada optimiert, wodurch die Ausführung vereinfacht wird, sobald Vizcachitas mit der Produktion beginnt. Das Unternehmen erhielt eine zinsfreie Vorauszahlung von 1.020.000 USD aus zukünftigen Royalties. Diese Entwicklungen verringern erheblich das Risiko des Vizcachitas-Projekts, indem sie eine nachhaltige Wasserversorgung gewährleisten und die finanzielle Lage des Unternehmens ohne eine Verwässerung der Anteile stärken.
- Strategic alliance formed between Desala Petorca and Colbún S.A., validating the desalination project
- Secured sustainable water supply for the Vizcachitas Project
- Received US$1,020,000 interest-free prepayment from Franco Nevada
- Streamlined royalty agreement with Franco Nevada, simplifying future execution
- None.
Vancouver, British Columbia--(Newsfile Corp. - August 29, 2024) - Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") is pleased to provide a corporate update.
Desala Petorca SPA ("Desala Petorca") announced on August 23, 2024 a strategic alliance and investment with Colbún S.A. ("Colbún"). Desala Petorca is a desalination project located on the coast of the Petorca Province, V Region ("Desalination Project"), designed to be a multi-client supplier of desalinated water. Desala Petorca is key to guaranteeing water security in the Petorca Province, one of the areas in Chile most affected by decade-long droughts.
Los Andes signed an LOI with Desala Petorca in September 2022 to ensure a sustainable water supply for the Vizcachitas Project, becoming the anchor client for the development of the Desalination Project.
Colbún is one of the largest power generation companies in Chile. Colbún has committed investment to continue with the development phase and has taken control of the project's investment vehicle, providing further validation of the Desalination Project. In addition to Colbún, Icafal, one of the largest construction companies in Chile, has joined as a minority partner.
Additionally, Los Andes is pleased to confirm that, as part of the Company's continued progression of the Vizcachitas Project and in anticipation of commencement of commercial operations, the current royalty agreement with Franco Nevada Corporation ("Franco Nevada") has been streamlined, simplifying its execution once the Vizcachitas Project begins production. As part of the streamlining, Los Andes received an interest free prepayment of US
Franco Nevada holds a
Santiago Montt, CEO of Los Andes, commented: "We are very pleased that the Desala Petorca project has attracted partners with such a strong track record and expertise in the development of large engineering projects. This marks a significant milestone, further de-risking the Desala Petorca project and, by extension, the Vizcachitas Project, ensuring a sustainable water supply for Vizcachitas going forwards.
"Separately, we are very pleased to have concluded the streamlining of the Franco Nevada royalty, further strengthening our balance sheet without any dilution to shareholders.
"We continue to review additional optimizations and upside opportunities for the Project, both at a corporate and project level, and look forward to providing further updates as we progress."
About Los Andes Copper Ltd.
Los Andes Copper Ltd. is an exploration and development company with an
The Project is a copper-molybdenum porphyry deposit, located 150 kilometers north of Santiago, in an area of very good infrastructure. An independent technical report for the PFS, prepared in accordance with NI 43-101, is available on the Company's SEDAR profile.
Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.
Qualified Persons
Antony Amberg CGeol FGS, the Company's Chief Geologist, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release.
For more information please contact:
Santiago Montt, CEO
santiago.montt@losandescopper.com
Tel: +56 2 2954-0450
Elizabeth Johnson, Investor Relations
Elizabeth.johnson@losandescopper.com
E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com
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Certain of the information and statements contained herein that are not historical facts, constitute "forward-looking information" within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) ("Forward-Looking Information"). Forward-Looking Information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information. Such Forward Looking Information includes, without limitation, the timing of and ability to obtain TSX-V and other regulatory approvals and the prospects, details related to and timing of the Vizcachitas Project. Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy and the Company's production. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.
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FAQ
What is the significance of the Desala Petorca project for Los Andes Copper (LSANF)?
How does the strategic alliance with Colbún S.A. impact Los Andes Copper (LSANF)?
What changes were made to Los Andes Copper's (LSANF) royalty agreement with Franco Nevada?
How do these developments affect Los Andes Copper's (LSANF) financial position?
