Aerial view showcasing the expansion opportunities of copper mining.
Arizona Sonoran Copper Company Inc. successfully conducted its annual and special meeting, with 60.81% of shares represented. Shareholders approved significant decisions, including the appointment of Ernst & Young as auditors and the election of director nominees. The meeting highlighted strong support for the company’s strategic direction, particularly in advancing the Cactus Project, which aims to establish an open-pit copper mine with low operating costs and solid financial returns.
Arizona – Arizona Sonoran Copper Company Inc. successfully concluded its annual and special meeting today in Casa Grande, Arizona, and Toronto. The meeting saw the participation of shareholders who voted a total of 90,396,024 common shares, representing 60.81% of the issued and outstanding shares.
During the meeting, shareholders approved several significant decisions that will influence the company’s strategic direction. These included the appointment of Ernst & Young LLP as auditors, the approval of the shareholder rights plan, and the election of all director nominees as presented in the management information circular dated April 28, 2025. Voting adhered to best practices for TSX-listed companies, with results gathered through a formal ballot process.
The results for the election of directors were overwhelmingly positive, demonstrating strong shareholder support:
The resolution to appoint Ernst & Young as auditor was approved with 99.150% support, receiving 89,627,919 votes for and 768,105 votes withheld. Additionally, the shareholder rights plan garnered significant backing with 99.767% of votes for (83,994,186) and only 0.233% against (195,803). The majority of minority support for this plan was 99.601% (48,846,111 votes for and 0.399% against).
Formal voting results will be filed on SEDAR+ under the company’s respective issuer profile as per regulatory requirements.
Looking ahead, Arizona Sonoran Copper Company is poised to advance its Cactus Project, located on privately held land. This project is significant as it encompasses a large-scale porphyry copper resource, aiming to establish an open-pit copper mine with low operating costs and robust financial returns.
The Cactus Project benefits from existing infrastructure, state-led permitting support, and onsite water access, which is crucial for mining operations. The company is strategically positioning itself to transition into a mid-tier copper producer while prioritizing sustainable and responsible operational practices.
A preliminary economic assessment (PEA) relating to the Cactus Project has outlined potential production capabilities and proposed significant returns. However, it should be noted that forward-looking statements regarding the project’s outcomes are subject to various risks and uncertainties. These may include fluctuating market conditions and necessary regulatory approvals.
Arizona Sonoran Copper Company aims to enhance its governance and strategic position within the copper industry as it progresses towards the development of the Cactus Project. This clear commitment to achieving operational excellence and financial stability reflects the company’s dedication to maximizing shareholder value while adhering to industry best practices.
In conclusion, the successful outcomes of the recent annual meeting and the ongoing advancement of the Cactus Project demonstrate Arizona Sonoran Copper Company’s focused approach to becoming a key player in the copper mining sector.
News Summary Arizona Attorney General Kris Mayes opposes a proposed 14% rate hike by Arizona…
News Summary Arizona's small businesses may experience a significant tax increase if the 20% Small…
News Summary Arizona lawmakers are gearing up to vote on a contentious $1 billion renovation…
News Summary Over the past three years, Arizona taxpayers have funded nearly $20 million in…
News Summary Arizona is grappling with a workforce and economic growth crisis due to insufficient…
News Summary The Arizona Department of Economic Security (DES) has announced layoffs affecting about 400…