Long-Term Equity Awards Granted by Surge Copper in Reciprocal Arrangement
Surge Copper Corp., a Canadian company advancing an emerging critical metals district in British Columbia, Canada, has made several significant announcements. The company owns a large, contiguous mineral claim package hosting multiple advanced porphyry deposits with NI 43-101 compliant resources of copper, molybdenum, gold, and silver.
In a recent move, Surge Copper Corp. has granted 2,337,500 restricted share units (RSUs) to employees and executives and 1,750,000 deferred share units (DSUs) to non-executive directors. The RSUs will vest in equal annual installments over three years from the grant date, while the DSUs will vest upon the departure of the holder from the Company.
One of the key projects under Surge Copper's purview is the Berg Project, for which the company announced a maiden Preliminary Economic Assessment (PEA) in June 2023. The PEA highlights base case economics including an NPV8% of C$2.1 billion and an IRR of 20% based on long-term commodity prices. The Berg Project outlines a large-scale, long-life project with a simple design and high outputs of critical minerals located in a safe jurisdiction near road, power, and port infrastructure.
The Berg deposit contains pit-constrained 43-101 compliant resources of copper, molybdenum, silver, and gold in the Measured, Indicated, and Inferred categories. Details of the Berg Preliminary Economic Assessment are outlined in a technical report titled "Berg Project NI 43-101 Technical Report and Preliminary Economic Assessment" prepared by Ausenco Engineering Canada in conjunction with Moose Mountain Technical Services, with an effective date of June 12, 2023.
Another significant project is the Ootsa Property, an advanced-stage exploration project located adjacent to the open pit Huckleberry Copper Mine, owned by Imperial Metals. The Ootsa Property contains the Seel and Ox porphyry deposits. The Ootsa Property contains NI 43-101 compliant resources of copper, gold, molybdenum, and silver in the Measured, Indicated, and Inferred categories.
It is important to note that the Company's actual results may vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggestions herein. The forward-looking statements in this News Release involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from any future results.
Surge Copper Corp. (TSXV: SURG, OTCQB: SRGXF, Frankfurt: G6D2) urges investors to review the Share Compensation Plan, approved by shareholders, which is available on the Company's website at www.surgecopper.com/investors/agm-materials or on SEDAR+ at www.sedarplus.ca. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.
With these exciting developments, Surge Copper Corp. is well-positioned to continue its advancement in the critical metals district of British Columbia, Canada.
Read also:
- Transforming Digital Inventories in the Food Industry: A Comprehensive Guide for Food Businesses
- Munich Airport Unveils Its New Electrical Vehicle Charging Parksite
- Clean Energy Facilities by Constellation Offer Close-to-Impeccable Summer Stability, Reinforced by $7 Billion in Capital Infusions Over the Past 10 Years
- Vehicle electrification and bidirectional charging technologies could potentially reduce EU energy expenses by a staggering €22 billion annually by the year 2040.
