Freeport Rsrcs Stock Price, News & Analysis

Freeport Resources announced the closure of an oversubscribed private placement, raising $5.2 million in gross proceeds. This funding will support the advancement of its Yandera Copper Project in Papua New Guinea, one of the largest undeveloped copper deposits globally and the largest in Asia. Key details of the Yandera project include over $200 million in exploration and development expenses, a 2017 Pre-Feasibility Study estimating historical resources of 728 million tonnes at 0.39% copper equivalent, and a renewed license through November 2025. Proceeds will be used for project optimization and partnership discussions to advance to a Definitive Feasibility Study. The company's stock symbol is FEERF.

Freeport has secured $4.4M so far in its ongoing private placement, with a final closing slated for late June. The funds will support general operations and advance the Yandera Copper Project. The Yandera license has been renewed until November 2025, enabling the company to commence an internal project optimization review while seeking strategic partners for a Definitive Feasibility Study. Yandera, one of the world's largest undeveloped copper projects, stands to benefit from high global copper demand driven by energy transitions. Freeport has also engaged Native Ads for a $265,000 marketing campaign. The project, located in Papua New Guinea, has received significant community support and could greatly impact local economies through job creation and infrastructure development.

Freeport Resources has increased its non-brokered private placement offering due to market demand. The offering now totals up to 140,000,000 units at $0.05 per unit, aiming for $7,000,000 in gross proceeds. Each unit includes one common share and one-half common share purchase warrant, with each warrant allowing purchase of an additional share at $0.25 within 24 months.

To date, 88,697,220 units have been issued, bringing in $4,434,861. The final tranche, subject to TSX Venture Exchange approval, is expected by June 28, 2024. Securities issued will have a resale restriction of four months and one day.

Freeport Resources announced that it has received an extension from the TSX Venture Exchange to complete its ongoing non-brokered private placement offering. This extension, following the initial announcement on June 3, 2024, allows the company to finalize the offering by June 28, 2024. The offering aims to raise funds for the company's ongoing projects and operational needs.

Freeport Resources has successfully closed the fourth tranche of its non-brokered private placement, raising $1,508,850. The company issued 30,177,000 units at $0.05 per unit. Each unit comprises one common share and one-half of a common share purchase warrant, with each full warrant allowing the purchase of an additional common share at $0.25 until May 31, 2026. In connection with this tranche, the company paid finders' fees of $600 and issued 12,000 share purchase warrants to certain arms-length parties. All securities issued are subject to resale restrictions until October 1, 2024. The company has received an extension from the TSX Venture Exchange to complete the offering by June 14, 2024.

Freeport Resources has successfully closed the third tranche of its non-brokered private placement, raising gross proceeds of $934,250. The company issued 18,685,000 units at $0.05 per unit, with each unit comprising one common share and one-half-of-one common share purchase warrant. Each whole warrant allows the purchase of an additional share at $0.25 until May 17, 2026. Finders' fees of $16,000 were paid, and 320,000 share purchase warrants were issued to arms-length parties. All securities from this tranche are under resale restrictions until September 18, 2024. Freeport has extended the deadline for the offering with the TSX Venture Exchange and aims to complete the final tranche by May 31, 2024.

Freeport Resources Inc. announced the closure of the second tranche of its non-brokered private placement offering, generating $787,761 in gross proceeds. The Company issued 15,755,217 units at $0.05 per unit, each comprising a common share and a half common share purchase warrant. The completion of the first tranche involved paying finders' fees of $14,000 and issuing 280,000 share purchase warrants to introducing parties. All securities are subject to resale restrictions until August 30, 2024. The TSX Venture Exchange granted an extension for completion of the Offering, with the final tranche expected to be finalized by May 15, 2024.