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Western Copper and Gold Corporation (TSX: WRN, NYSE American: WRN), based in Vancouver, is a prominent exploration and development company focused on advancing its flagship asset, the Casino Project in Yukon, Canada. Having completed a positive feasibility study, Western Copper and Gold is now navigating the mine permitting process for this significant project. The Casino Project encompasses substantial resources in gold, copper, and molybdenum, positioning it as one of the most economically promising greenfield copper-gold projects globally.
The company’s primary operations involve the exploration and development of the Casino mineral property. Recent achievements include a further investment of C$6 million from Rio Tinto Canada Inc. in November 2023, aimed at progressing infrastructure development and streamlining the regulatory process. This investment increased Rio Tinto’s ownership stake in Western to approximately 9.7%.
Western Copper and Gold remains the sole owner and operator of the Casino Project. The recent funds will be allocated towards detailed studies, infrastructure development, and advancing through permitting to the development phase. The company is committed to responsible mining practices and works collaboratively with local communities and First Nations to ensure sustainable development.
In April 2024, Western announced an offering of common shares, with Rio Tinto exercising its participation rights to maintain its ownership percentage. The proceeds from this offering are expected to further enhance the company’s financial position, enabling continued progress on the Casino Project.
For more information about Western Copper and Gold Corporation and the latest updates on the Casino Project, please visit www.westerncopperandgold.com.
Western Copper and Gold (TSX: WRN) (NYSE American: WRN) has announced positive results from a supplemental metallurgical program for its Casino Copper-Gold Project. The program, using 2023 drill core composites, demonstrated improved recoveries and concentrate quality:
- Standard processing methods achieved good copper and gold recoveries, with significantly higher molybdenum recoveries (90% in hypogene material vs 71% in previous Feasibility Study)
- The project will produce high-grade copper concentrate with gold content and a separate molybdenum concentrate, both with low impurity levels
- Initial coarse particle separation tests suggest potential for increased primary grind size without sacrificing recoveries
The testing program, developed by Western's Technical Committee with Rio Tinto and Mitsubishi Materials, involved fifteen 200kg composites tested at ALS Metallurgy. The Casino project consists of two main zones: Supergene Sulphide (25% of resource) and Hypogene (70% of resource).
Western Copper and Gold (TSX: WRN) (NYSE American: WRN) has completed its management succession process, with Dr. Paul West-Sells stepping down as President on December 31, 2024. Sandeep Singh has assumed the role of President while maintaining his position as Chief Executive Officer.
The company strengthened its leadership structure throughout 2024 by adding several professionals to both the senior management team and Board of Directors. The company maintains confidence in its Yukon-led projects team and anticipates significant developments for the Casino project in 2025.
Western Copper and Gold (TSX: WRN) (NYSE American: WRN) has appointed Raymond Threlkeld as Chairman of the Board. Threlkeld, who joined the Board on June 27, 2024, succeeds Dr. Bill Williams, who served as Interim Chairman since February 22, 2024. Williams will continue to serve on the Board as a director.
Bill Williams expressed confidence in Threlkeld's leadership, citing his extensive background in project development, construction, and executive management. Threlkeld stated his excitement to lead the Board during this pivotal time for Western and his eagerness to collaborate with fellow directors and management to unlock the full potential of the Casino Project.
Western Copper and Gold (TSX: WRN) (NYSE American: WRN) welcomes the recent announcement by Natural Resources Canada (NRCan) of C$40 million in conditional federal funding for pre-feasibility activities to advance a high-voltage transmission line network connecting the Yukon electrical grid to the North American grid in British Columbia. The funding, provided through the Critical Minerals Infrastructure Fund (CMIF), aims to support Canada's transition to a low-carbon economy and capitalize on its mineral resources.
The Casino Copper-Gold Project's future energy demand could play a significant role in shaping strategic investments that enhance connectivity, benefiting the Yukon and its communities. While the project's feasibility study demonstrates viability using liquefied natural gas power, a potential future pathway to hydro grid power could be transformative, allowing for critical mineral production with a minimized carbon footprint.
On June 21, 2024, Hon Ranj Pillai, Yukon's Premier, emphasized the significance of critical minerals and Yukon's promising economic future in a new video by Invest Yukon. Western Copper and Gold (WRN) is spotlighted as a key player in meeting the rising demand for these minerals, positioning itself as a major developer in Canada. The company is focusing on advancing significant projects to bolster the supply chain for critical metals, supported by favorable government policies and a skilled management team. This initiative is expected to promote economic growth and sustainability in the mining sector.
Western Copper and Gold has announced that Rio Tinto Canada Inc. will exercise its participation right in full, maintaining its interest of approximately 9.7%. This will result in Rio Tinto subscribing for over 2 million common shares of the Company, with the potential for additional shares if the over-allotment option is exercised. The gross proceeds from this exercise are expected to be approximately $40 million. The completion of this transaction is subject to approvals from the Toronto Stock Exchange and the NYSE American
On April 11, 2023, Western Copper and Gold Corporation (NYSE: WRN) announced that Rio Tinto Canada Inc. will fully exercise its participation right concerning the strategic investment by Mitsubishi Materials Corporation. This move involves Rio Tinto purchasing 878,809 common shares for approximately C$2.3 million, maintaining an interest of roughly 7.84%. Meanwhile, Mitsubishi Materials will invest C$21.3 million to subscribe for 8,091,390 shares. The subscriptions are subject to final approval by the Toronto Stock Exchange and NYSE American LLC, with expected completion dates of May 1, 2023, for Rio Tinto and April 14, 2023, for Mitsubishi. The investments aim to advance the Casino Project in Canada's Yukon Territory, indicating strong backing from prominent industry players.
Western Copper and Gold announces a strategic equity investment from Mitsubishi Materials to support the Casino Project in Yukon. Mitsubishi will acquire shares representing approximately 5% of Western's outstanding shares at C$2.63 per share, potentially raising gross proceeds of C$21.3 million. The investment includes specific rights for Mitsubishi, such as appointing a committee member and future participation in equity issuances. The closing is expected on April 14, 2023, subject to regulatory approval. This partnership is deemed a strong endorsement for the Casino Project's advancement.
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