Arizona Sonoran Copper Company Inc. $tscu announced on Monday that it will enter into discussions with Nuton LLC, a Rio Tinto company $RIO (-0.37%)
$RIO (-1.38%)for a mutually agreeable early termination of its option to enter into a joint venture agreement on the Cactus Project.
The copper exploration company plans to advance the Cactus project independently following the recently completed pre-feasibility study.
Arizona Sonoran aims to complete a stand-alone definitive feasibility study in the second half of 2026, with a final investment decision potentially being made as early as the fourth quarter of that year.
With a market capitalization of approximately $775 million and a solid liquidity ratio of 4.52, the company appears to be in a position to continue down this independent path despite not being profitable over the past twelve months.
The company stated that it would not release any further information on the discussions with Nuton until a final outcome is reached.
It pointed out that there was no certainty as to how long the negotiations might take and whether they would lead to a mutually satisfactory agreement.
