Tintina Mines Secures $66M Investment for Chile Copper-Gold Project
Tintina Mines has obtained a C$91 million ($65.8 million) investment to further develop its Domeyko Sulfuros project in Chile. This funding, backed by Japan's Sumitomo Corp. and the Gignac family, aims to consolidate ownership and advance the project's status towards a final investment decision.
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Tintina Mines has secured C$91 million ($65.8 million) in funding, enabling the advancement of its Domeyko Sulfuros copper-gold asset in Chile. The investment, involving Sumitomo Corp. and the Gignac family, will be executed through a private placement of subscription receipts priced at C$0.68 each, offered in two tranches.
Approximately C$55 million will be allocated to advance the Domeyko Sulfuros project towards a final investment decision, while C$36 million will be used to buy out minority shareholders. The project has an estimated resource of 100.8 million tonnes grading 0.35% copper and 0.28 g/t gold. This investment could enhance the project's development timeline, presenting a significant opportunity for growth in the copper-gold sector.
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