December 23, 2021
Kutcho Copper Corp. (TSXV:KC, BUY, C$1.65 target, Taylor Combaluzier) announced it has completed the buy back of the royalty held by Sumac Mines and terminated its Right of First Refusal (ROFR) to purchase concentrates from the Kutcho copper-zinc project. We note that the buy back was originally announced in July 2021 (read more). The company noted that the termination of the ROFR gives it the flexibility to arrange new offtake arrangements in a competitive environment for preferable offtake terms given 100% of the concentrate is now available for negotiation. Our estimates already assumed that Kutcho would buy back the royalty and that the ROFR would be terminated (read more). Read more
