The proceeds will be used by Arizona Sonoran to advance its flagship Cactus project, which comprises three porphyry copper deposits and one stockpile within a 5.5 km trend, including a past-producing mine. The company’s aim is to develop Cactus and become a mid-tier copper producer with low operating costs.
“We are pleased and appreciative to welcome this further endorsement of our project and the go-forward plan, by the team at Hudbay,” Arizona Sonoran CEO George Ogilvie said in a news release. “It is the company’s objective to develop Cactus to be a significant producer of copper cathodes for direct use by industry in the state of Arizona and the larger US supply chain.”
Low-risk copper project
In 2024, Arizona Sonoran released an updated preliminary economic assessment on Cactus that confirmed its potential to become a low-risk copper mine project. It raised the project’s after-tax net…
