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St. Augustine Gold and Copper Limited (TSX: SAU) announced the conversion of a convertible note worth $9,120,500 into company shares. The note, originally issued to co-venture partner Nationwide Development Corporation (Nadecor) on May 30, 2025, was related to restructuring ownership interests in the KingKing Copper Gold Project in the Philippines.
Nadecor assigned portions of the note to 16 arms-length parties, resulting in the conversion of the total principal into 185,000,000 shares at a deemed price of $0.0493 per share.
St. Augustine Gold and Copper Limited (TSX: SAU) held its Annual General Meeting on June 27, 2025, where shareholders approved all proposed resolutions. The meeting saw strong support for the election of director-nominees, with each receiving 99.73% approval. Shareholders also approved Davidson and Company LLP as external auditors with 99.38% support.
The company's flagship Kingking Copper-Gold Project in the Philippines has estimated mineral reserves of 617.9 million tonnes at 0.300% total copper and 0.395 g/t gold. The project is expected to recover 3.16B lbs of copper and 5.43M oz of gold over its 25-year life, with a pre-tax NPV of $2.0 billion and IRR of 24.8%.
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