The Supreme Court of British Columbia approved the arrangement on 18 November 2024 after Pucara shareholders’ approval on 8 November. Credit: Jose Luis Stephens/Shutterstock.

Canadian mining company Copper Standard Resources has completed the previously announced acquisition of Pucara Gold through a court-approved plan of arrangement.

This strategic move consolidates a copper exploration portfolio of more than 17,000ha in Peru, adding three prospective copper exploration assets – Pacaska, Paco Orco and Capricho – to Copper Standard’s portfolio.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Pacaska is an epithermal gold/copper target spanning 7,650ha with mineralisation similar to Peru’s Pierina Mine. Rock sampling conducted at the project yielded 17 grams per tonne of gold and 11% copper. An elaborate geophysics programme was conducted at the prospect in 2019.

Paco Orco is a carbonate replacement target covering an area of 4,400ha and hosting lead, zinc and silver, while Capricho is a 3,768ha porphyry copper target with 3% copper zones.

These assets were previously optioned by the geologist David Lowell.

The Supreme Court of British Columbia granted the final order for the arrangement on 18 November 2024, following approval by Pucara’s shareholders on 8 November.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

An overwhelming majority, approximately 99.95% of votes, supported the arrangement.

Under the terms of the arrangement, Pucara shareholders received 0.10 of a Copper Standard common share for each Pucara share held.

In total, Copper Standard issued approximately 7.66 million new shares to former Pucara shareholders. These shares are expected to be listed on the Canadian Securities Exchange.

Options and warrants for Pucara shares have been exchanged for Copper Standard securities, adhering to the same exchange ratio and terms.

With the completion of the arrangement, Pucara shares will be delisted from the TSX Venture Exchange and Pucara will seek to cease being a reporting issuer.

The combined company will benefit from synergies, cost savings and the leadership of Copper Standard’s board and management team, known for their track record in discovery, exploration, community engagement and monetisation.