Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) submitted certification to the DOE confirming its Arizona mine met the requirements for a $13.9 million Section 48C tax credit, a federal program supporting domestic critical minerals production, marking a step toward monetizing the non-dilutive funding. The submission confirms the project has met requirements under the company's 48C application, including placing eligible assets into service and commencing production at its Johnson Camp Mine in Arizona in 2025.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) has settled its outstanding convertible debentures in cash rather than allowing conversion into common shares, eliminating a major source of shareholder dilution. The move prevents the issuance of about 28.9 million common shares to Greenstone Excelsior Holdings LP and Greenstone Resources LP, strengthening the company's capital structure, Gunnison said.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) has announced plans for a district-wide drilling program at its Gunnison copper project, including the Strong & Harris satellite deposit, in Arizona's Cochise Mining District. The company said the program has been fully contracted and committed, with drill rig mobilization expected to begin this month.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) announced that it has completed its previously announced bought deal public offering, raising approximately C$34.5 million in gross proceeds to support development of its Arizona copper project. The company issued 82.1 million common shares at a price of C$0.42 per share, a figure that includes the full exercise of the underwriters' over-allotment option for an additional 10.7 million shares.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) announced a C$30 million bought deal financing aimed at advancing its Gunnison Copper Project in Arizona and supporting general corporate activities. The company said it has entered into an agreement with Canaccord Genuity acting as sole bookrunner on behalf of a syndicate of underwriters, to issue 71.43 million common shares at C$0.42 per share.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) has received a refundable tax credit from Arizona's state commerce authority to support its copper operations in the state. The Arizona Commerce Authority's Qualified Facility Tax Credit Program offers refundable state income tax credits tied to qualifying capital investments and net new full-time employment.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) has reported a profitable first quarter as the company advanced development of its Arizona copper assets, highlighted by a new collaboration with Rio Tinto and Amazon Web Services and continued ramp-up activities at its Johnson Camp Mine. The company reported revenue of $20.1 million for the three months ended March 31, with gross profit of $11.4 million and net profit of $1.7 million, or $0.004 per share.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) earlier this week appointed Craig Hallworth as president and chief executive officer as the company continues advancing both the Johnson Camp Mine restart and its flagship Gunnison copper project in Arizona. Proactive: All right welcome back inside our Proactive newsroom.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) has announced that Craig Hallworth will succeed Dr. Stephen Twyerould as president and chief executive officer as part of a planned leadership transition, alongside a series of executive and technical appointments aimed at advancing the company's flagship Gunnison Copper Project.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) said on Wednesday that technology startup Lunasonde has completed an airborne geophysical survey over the company's Cochise Mining District land package in southern Arizona, as the copper explorer advances district-scale targeting efforts ahead of potential drilling. The survey employed Lunasonde's proprietary Airborne Georadiotomography (aGRT) technology to generate high-resolution subsurface imaging aimed at identifying copper-bearing structures.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) said on Thursday it has joined the Defense Industrial Base Consortium (DIBC), a US government-backed initiative aimed at strengthening domestic supply chains for critical minerals and defense-related technologies. The consortium, overseen by the US Department of Defense, is focused on accelerating industrial capacity and reducing reliance on foreign sources for materials considered vital to national security, including copper.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) announced that Michael Haworth has retired from its board of directors following the divestment of shareholdings by the Greenstone group of funds. Haworth had served on Gunnison's board since September 2014 as a representative of Greenstone.