- Western Copper and Gold Corporation (WRN) announced that Rio Tinto Canada has opted to extend certain rights
- Western Copper and Gold is developing the Casino Project in the Yukon
- Rio Tinto extended the right to appoint one member to a project technical committee
- It can also assign one non-voting observer, three secondees, and potentially one director
- Rights regarding access to the project’s information have also been extended
- Western Copper and Gold Corporation (WRN) is down 1.59 per cent and is trading at $2.16 per share as of 1:52 p.m. EST
Western Copper and Gold Corporation (WRN) announced that Rio Tinto Canada opted to extend certain rights under an agreement between the two companies.
Western Copper and Gold is developing the Casino Project, a Canadian copper-gold mine in the Yukon which is one of the most economic greenfield copper-gold mining projects in the world.
Rio Tinto extended the right to appoint one member to a Casino Project technical committee until November 28th, 2023, or until its ownership drops below 5.00 per cent.
It may also assign one non-voting observer to attend all Western Copper and Gold’s board of directors’ meetings and three secondees to the project under the same time restrictions.
If Rio Tinto’s ownership increases to at least 12.50 per cent before November 28, 2023, it can appoint one director to Western Copper and Gold.
Additionally, Rio Tinto’s rights regarding access to information about the Casino Project and review of technical disclosure have been extended.
Western Copper and Gold Corporation (WRN) is down 1.59 per cent and is trading at $2.16 per share as of 1:52 p.m. EST.