Arizona Sonoran Copper Company raised C$86 million through a bought deal private placement to advance its Cactus mining project, with Canaccord Genuity as the lead underwriter.

Target Company Overview

The Arizona Sonoran Copper Company Inc. (ASCU) is a prominent copper developer focused on revitalizing the historically operational Cactus mine, located in Pinal County, Arizona. This area is characterized by its abundant infrastructure and strategic location, which enhances the company's development potential. The Cactus project, previously known as Sacaton, sits on privately owned land, providing significant advantages for streamlined operations. In addition, ASCU owns the Parks/Salyer deposit, which offers opportunities for phased expansion as it transitions into a producing asset.

ASCU is managed by a seasoned executive team and a Board of Directors, both of which boast a strong track record in delivering successful projects across North America. Their combined expertise encompasses not only mining operations but also global capital markets, positioning the company effectively within the competitive landscape of the mining sector.

Industry Overview in Arizona

Arizona is a key player in the global mining industry, particularly in copper production. Long known as one of the leading states for copper mining, it hosts a wide array of mines that significantly co