Arizona Sonoran’s Cactus project is steadily advancing towards a construction decision. Credit: Henry Lazenby.
Arizona Sonoran Copper (TSX: ASCU) is pressing its Cactus copper project in Arizona toward an updated resource and prefeasibility study (PFS) by year-end while cutting project royalties and shoring up funding.
Given the company’s development momentum, shares in the Casa Grande, Arizona- and Toronto-based company appear to be undergoing a re-rating. Its TSX stock nearly doubled this year to an all-time high of C$2.75 apiece before easing to $2.67 near press time for a market capitalization of about C$474 million ($342 million).
President and CEO George Ogilvie says the market move, at roughly 0.3 times price-to-net asset value, still leaves “substantial runway for a further re-rating”, but doesn’t mean the team can relax. It’s gearing up for first copper cathode in 2029 with plans to…
