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Arizona Sonoran Copper Appoints Hannam & Partners as Project Finance Advisor for the Cactus Project
CASA GRANDE, Ariz. & TORONTO / Jun 02, 2025 / Business Wire / Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased
About this update from Arizona Sonoran Copper Co., Inc.
[{"type":"text","content":"CASA GRANDE, Ariz. & TORONTO / Jun 02, 2025 / Business Wire / Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce that in preparation for project financing, it has appointed H&P Advisory Limited (“H&P”) as its debt financial advisor for the Cactus Project, a copper cathode development project in Arizona (\"Cactus\" or the “Project”). H&P will work closely with the management team to provide complete and proactive support in all aspects of the project financing process for the Project, acting as the primary interface with lenders. The project financing process will run concurrently with the continuing advancement of the Project’s ongoing Pre‑feasibility Study (“PFS”) on target for completion in H2 2025 and the eventual planned Definitive Feasibility Study (“DFS”) slated for completion in H2 2026. ASCU is an emerging copper developer and producer, advancing its 100%-owned, past-producing Cactus Project on private land, 45 miles southwest of Phoenix, Arizona. As contemplated by the 2024 Preliminary Economic Assessment (“2024 PEA”), Cactus is a proposed heap leach and solvent extraction and electrowinning (“SX/EW”) open pit project with the potential to produce +100,000 tonnes of copper cathode for direct use within US industry. The ASCU team will work with H&P who will play a pivotal role in securing the financing package in support of an eventual construction decision. Following the PFS, the Company plans to complete permitting for the Project, with the advancement of project financing to continue in parallel through to the planned DFS and an eventual construction decision in H2 2026. On that timeline, production of first copper cathode from the SX/EW plant is anticipated in late 2028 or 2029, after an expected 18-24 month construction period. Nick Nikolakakis, ASCU CFO and VP Finance, commented, “H&P is an experienced project financing advisor and will be an asset to management in pursuit of financing for the development and construction of the Cactus Project. We continue to advance the Project through remaining study phases toward an eventual construction decision, and we will be concurrently seeking to identify and implement flexible financing solutions with a low cost of capital. We believe that the Project’s location, projected long mine life, r...