Cañariaco Project Update
Ecora Royalties PLC notes that Alta Copper Corp., the 100% owner of the Cañariaco Copper Project in Peru, has been acquired by Nascent Exploration Pty Ltd, a subsidiary of Fortescue Ltd. An Optimised Preliminary Economic Assessment for the Cañariaco Project, published on 10 June 2024, estimated average annual production of 158,000 tonnes of copper, 70,000 ounces of gold, and 1.5 million ounces of silver for the first ten years. Ecora holds a 0.5% Net Smelter Return royalty on this project, which could impact future revenue streams.
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Ecora (LSE/TSX: ECOR, OTCQX: ECRAF) a critical minerals focused royalty company, notes the press release issued on 9 March by Alta Copper Corp. announcing the successful completion of the previously announced plan of arrangement, pursuant to which Nascent Exploration Pty Ltd ("Nascent"), a wholly-owned subsidiary of Fortescue Ltd ("Fortescue") acquired all of the issued and outstanding common shares of Alta Copper, not already held by Nascent.
Alta Copper is the 100 per cent owner of the Cañariaco Copper Project ("Cañariaco Project") located in Northern Peru.
Alta Copper published an Optimised Preliminary Economic Assessment for the Cañariaco Project on 10 June 2024, which estimated annual average copper production of 158k tonnes, gold production of 70K oz and silver production of 1.5 million oz for the first ten years, and 134k tonnes per annum of copper, 61K oz per annum of gold and 1.2 million oz of silver across the life of the mine.
Ecora holds a 0.5% Net Smelter Return royalty on the Cañariaco Project.
The full announcement from Alta Copper can be viewed here: https://altacopper.com/news-releases/news-releases/2026/alta-copper-corp-and-nascent-exploration-pty-ltd-announce-completion-of-plan-of-arrangement/
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.