Chile-focused World Copper has closed the third and final tranche of its private placement, bringing the total funds brought by the placement to some C$6.5 million (US$52 million).
“The net proceeds from the Offering are intended for exploration of the Escalones and Cristal properties in Chile and, general working capital,” the Vancouver-based miner said in a statement.
The Canadian business says it is focused on “the exploration and development of its copper porphyry projects: Chile’s Escalones and Cristal, and Zonia in Arizona, the U.S.
“Two of these projects have estimated resources with significant sol-uble copper mineralization, and there are at least two other copper porphyry targets with exciting potential to expand the resource base. The Zonia project is being acquired as part of the previously an-nounced merger transaction with Cardero Resource Corp,” World Copper said.