Welcome to our dedicated page for Torq Resources news (Ticker: TRBMF), a resource for investors and traders seeking the latest updates and insights on Torq Resources stock.
Torq Resources Inc. (TRBMF) is a Vancouver-based copper and gold exploration company with a portfolio of holdings in Chile, and its news flow is closely tied to exploration progress and corporate developments. The company’s releases emphasize work at the Santa Cecilia gold-copper porphyry project in the Maricunga belt of Chile’s Atacama region, where Torq reports multiple drill campaigns and discoveries at targets such as Gemelos Norte and Pircas Norte.
News updates frequently cover drill program milestones, including the number of holes completed, total meters drilled, and technical interpretations of gold-copper mineralization across the property. Torq has reported that mineralization at Santa Cecilia extends for several kilometres and that recent drilling has confirmed new porphyry complexes and extended known mineralized zones.
Another recurring theme in Torq’s news is its earn-in option arrangement with an affiliate of Gold Fields Limited on the Santa Cecilia project. Releases describe Gold Fields’ funding of drilling, the vesting of an initial interest in the project, and the decision to proceed to a second stage of the earn-in with additional planned spending on diamond drilling and property payments.
Investors following Torq’s news can also expect updates on financing transactions, such as private placements, debt settlements, and credit facility extensions, as well as corporate announcements including project rationalization decisions like the termination of the Margarita project option and the retention of the La Cototuda concession. Coverage may also include investor relations initiatives and conference presentations featuring company leadership.
This news page aggregates these exploration, financing, and corporate updates so readers can track how Torq’s Chilean copper and gold exploration strategy is evolving over time.
Torq Resources Inc. (TSXV:TORQ)(OTCQX:TRBMF) has amended its Margarita Project Unilateral Option Agreement, extending the option by one year and deferring the August 22, 2024 payment of USD $1,200,000. The amendment includes:
1. Increasing the August 22, 2025 payment to USD $1,500,000 (+$300,000)
2. Increasing the August 22, 2026 payment to USD $2,200,000 (+$200,000)
3. Requiring USD $1,000,000 in exploration before August 22, 2025
4. Requiring an additional USD $1,000,000 in exploration before August 22, 2026
CEO Shawn Wallace stated that this deferral, along with the recently announced Gold Fields Option and Joint Venture for the Santa Cecilia Project, will provide significant financial relief for the company's payment and capital expenditure requirements.
Torq Resources Inc. (TSX-V:TORQ)(OTCQB:TRBMF) has entered into a non-binding term sheet with Gold Fields for a proposed option and joint venture agreement on Torq's Santa Cecilia copper-gold project in Chile. The agreement grants Gold Fields a two-stage option to acquire up to a 75% interest in the project for US$48 million in spending over 6 years.
Key terms include:
- Stage 1 Option: Gold Fields to fund US$18 million in 30 months for 51% interest
- Stage 2 Option: Additional US$30 million for 24% more interest
- Joint venture to be established upon certain conditions
The deal requires shareholder approval and is subject to due diligence and TSX Venture Exchange acceptance.
Torq Resources Inc. (TSXV:TORQ)(OTCQB:TRBMF) has announced an extension of its $0.10 financing offering period to August 25, 2024. This extension has received conditional approval from the TSX Venture Exchange, subject to customary conditions including the absence of material changes during the extended period. The company notes that raising additional funds remains contingent on the execution of further subscription agreements by investors.
This development suggests that Torq Resources is seeking to secure more capital through its current financing round. The extension provides potential investors with additional time to participate in the offering, which could be important for the company's future operations and growth strategies.
Torq Resources (TSXV:TORQ, OTCQB:TRBMF) has completed the first tranche of its non-brokered private placement, issuing 4,645,300 units at $0.10 per unit, raising C$464,530. The offering period has been extended to July 26, 2024, subject to conditions. Finders' fees of $10,800 and 108,000 non-transferable warrants were issued. Proceeds are earmarked for working capital. Insider participation accounted for 1,500,000 units, constituting a related party transaction exempt from formal valuation and minority shareholder approval requirements under MI 61-101. Securities carry a four-month and one-day hold period in Canada and are not registered under the U.S. Securities Act.
Torq Resources announced the second set of results from the Phase II drilling program at its Santa Cecilia project in Chile's Maricunga belt. The significant findings include a 120-meter interval with 1.33 g/t gold and 0.096% copper, ending in mineralization. Another highlight is a high-grade quartz vein within this interval that returned 47.90 g/t gold. The company also reported other noteworthy intercepts, including 118 meters of 0.26 g/t gold and 0.034% copper from the surface. The results suggest potential for a large and high-grade mineralized body, encouraging further exploration. Additionally, at the Gemelos Norte target, a 98-meter interval yielded 0.18 g/t gold and 0.043% copper. CEO Shawn Wallace emphasized the strategic significance of these findings, pointing towards a substantial copper-gold system. The company plans further drilling to expand these discoveries amid a strengthening commodity market.
Torq Resources Inc. is conducting a private placement to raise up to C$1.5 million through the sale of units, each consisting of one common share and one half of a common share purchase warrant. The proceeds will be used for general working capital, with insiders potentially participating in the offering. The closing is expected around May 30, 2024, subject to TSX-V approval.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
FAQ
What is the current stock price of Torq Resources (TRBMF)?
What is the market cap of Torq Resources (TRBMF)?
