Lion Copper Corp. is the new name for the company planning to develop the Yerington Copper Project in Nevada, and shares on the Canadian Securities Exchange are now trading under that name.
The company, formerly called Lion Copper and Gold Corp., also consolidated its shares under the new name, and common shares now total a little over 15.97 million, according to a Sept. 14 announcement.
“The completion of our name change and share consolidation represents another step in Lion’s evolution as we continue advancing the Yerington Copper Project and our broader copper district in Nevada,” said Chief Executive Officer John Banning.
He said the new name “better reflects the company we have become and our focus on developing a significant source of domestic U.S. copper,” while the stock consolidation is a major step in the company’s application to list Lion on Nasdaq.
“We believe a Nasdaq listing would provide Lion with greater visibility in the U.S. capital markets, broaden our potential institutional shareholder base and improve access to long-term sources of capital as we continue advancing Yerington through Definitive Feasibility Study and permitting,” Banning said.
Anaconda Copper’s open pit mine in the Yerington area in 1962.
Lion Copper & Gold
Yerington-based Lion Copper is proposing to mine for copper at the historic Anaconda Copper mining site in Lyon County through an earn-in agreement with Nuton LLC, a Rio Tinto Venture. Lion also has the nearby Bear Deposit.
Lion Copper announced separately on Sept. 14 that it has filed an independent technical report supporting the maiden mineral resource estimate for Bear that shows an indicated resource of 6.71 billion pounds of contained copper and an inferred resource of 8.77 billion pounds of copper.
“The filing of the Bear Technical Report represents another important milestone for Lion and provides the comprehensive technical basis supporting the maiden mineral resource estimate announced in August,” Banning said.
“Bear has materially expanded the scale of our copper endowment and reinforces our view of the Yerington Copper District as one of the largest undeveloped copper districts in the United States,” he said.
A view looking west at the MacArthur pit in the Yerington Copper Project.
Lion Copper & Gold
Banning said the company’s immediate focus is on the Yerington Copper Project as the company continues working on a feasibility study and permitting, but Bear provides “significant additional optionality immediately adjacent to Yerington and the potential to leverage the infrastructure being developed for the project.”
The feasibility study is expected to be completed in the first quarter of next year.
The Yerington Copper Project site already has infrastructure on site from earlier mining, including a huge warehouse where exploration core is stored.
Lion has said it hopes to produce its first copper cathode from its Yerington Copper Project in 2030.
