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Trigon Metals (OTCPK: PNZTF) has received US$1 million as the initial portion of a US$2 million advance payment from Horizon Corporation Ltd., with the remaining balance expected before August 4, 2025. This payment follows the successful shareholder vote on July 4, 2025, regarding the sale of Trigon's interest in the Kombat Mine.
The company is strategically shifting its focus to exploration, particularly in Morocco. Trigon has planned a US$350,000 drill program at the Addana Project, targeting high-priority mineralized zones beneath existing underground workings to confirm and expand known copper mineralization. Field crews are expected to mobilize in the coming weeks as part of the company's exploration-driven strategy.
Trigon Metals has reported its May 2024 production highlights from the Kombat mine in Namibia and provided guidance for FY2025. The company achieved an average daily production of 12.1 tonnes of copper, with a total of 19,664 tonnes of ore mined at an average grade of 2.16%, resulting in 386 tonnes of copper produced. For FY2025, Trigon expects to mine between 250,000 and 280,000 tonnes of ore at grades between 1.95% and 2.3% copper, translating to an annual copper production range of 5,500 to 6,100 tonnes. Cash costs are estimated to be between $2.80/lb and $3.15/lb. The company is focusing on maximizing underground production from the Asis West complex. An investor webinar is scheduled for June 20th to discuss Q1 2024 and FY2025 guidance.
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