Copper Explorer Approves Yukon Merger Deal

Source: Streetwise Reports 08/08/2025

Granite Creek Copper Ltd. (GCX:TSX.V; GCXXF:OTCQB) approved a Cascadia merger, gaining momentum in Yukon with high-grade assets and sector support despite recent price swings. Read more to find out how the deal positions the company amid a volatile but resilient copper market.

Granite Creek Copper Ltd. (GCX:TSX.V; GCXXF:OTCQB) announced that its securityholders have approved the previously disclosed plan of arrangement under which Cascadia Minerals Ltd. will acquire all outstanding common shares of Granite Creek. The vote took place during a special meeting held on August 5, 2025, with approximately 92% of votes cast in favor of the transaction.

The arrangement remains subject to the final order of the Supreme Court of British Columbia and customary closing conditions. The companies anticipate the transaction will be completed on or around August 13, 2025.

Granite Creek also disclosed financing arrangements and debt settlements related to the transaction. Cascadia advanced a non-interest-bearing bridge loan totaling US$375,000 to Granite Creek to support transaction expenses. This loan was issued in two tranches: a US$125,000 promissory note dated June 18, 2025, and a US$250,000 promissory note dated June 27, 2025. The notes include a conversion option allowing Cascadia to convert principal into Granite Creek shares at US$0.05 per share. Shares issued under these notes are subject to a four-month and one-day hold period from the issuance date.

In addition, Granite Creek completed a share-for-debt transaction valued at approximately US$521,000 with TruePoint Exploration Inc. and a Carmacks North royaltyholder. Granite Creek issued 13,265,705 shares at US$0.04 per share to settle the outstanding debt. These shares are expected to convert into Cascadia shares upon closing of the arrangement. Of these, TruePoint now holds 11,515,705 Granite Creek shares, representing approximately 5.43% of the issued and outstanding shares post-issuance. The settled debt includes historical loans of US$100,000 and US$257,286.78 advanced by TruePoint in 2020 and 2023, respectively, as well as accounts payable for prior services. The loans carried an annual interest rate of 5%.

Copper Sector Remains Resilient Amid Trade-Driven Volatility

Copper markets in 2025 saw a period of significant volatility, yet the sector demonstrated resilience amid shifting trade policy and fluctuating demand signals. According to a July 22 report from Mining.com, copper futures surged to a record high of US$5.732 per pound as the US prepared to implement a 50% tariff on a wide range of semi-finished copper products. This marked a more than 40% increase in copper prices year-to-date, positioning it as one of the strongest performing commodities of the year.

The sharp rally reflected both increased demand and a proactive response from manufacturers and traders ahead of the policy change. “Since US President Donald Trump’s tariff announcement earlier this month, copper prices have soared past the US$5/lb. level to new heights,” Mining.com reported.

Industry analysts have pointed to the broader strength of metals in 2025. In a July 28 interview with Morningstar, Nitesh Shah, head of macroeconomic and commodity research at WisdomTree, explained that “precious metals . . . and even other metals like base metals have actually risen,” citing geopolitical tensions and tariff policies as key drivers. He also identified copper as one of the most promising commodities of the year.

Following the official announcement on July 30, which confirmed that raw materials such as copper ore and refined copper would be exempt from the tariffs, prices adjusted accordingly. A sector analysis from Excelsior Prosperity noted that copper futures declined by more than 20% after the exemption was clarified. However, the report also emphasized the stability that followed, stating that copper ended the month at US$4.376 per pound and held steady near that level in early August.

While price movements were abrupt, market fundamentals remained intact. According to Excelsior Prosperity, the initial spike reflected “manufacturers, wholesalers, and financial institutions trying to source and bring as much copper into the US in front of the tariffs.” The report added that copper stocks, particularly those in major exchange-traded funds, showed “far more resilience than one would expect” during the subsequent price correction.

Although the initial tariff impact was short-lived in price terms, U.S. policy changes introduced longer-term shifts in supply chain dynamics. As reported in a July 30 sector summary on Credendo, new U.S. regulations will require the retention of a portion of domestically produced copper scrap for the U.S. market beginning in 2027. These measures were designed to “enhance access to copper feedstock for American manufacturers and recyclers,” according to the report.

Despite recent corrections, structural supply tightness remained a factor globally. The same July 30 report highlighted that “Chinese smelters are facing ore shortages, and inventories at Chinese ports have dropped to their lowest levels this year,” pointing to continued stress in the upstream supply chain.

Overall, the copper sector in 2025 has navigated major policy shifts and price fluctuations while maintaining access to raw materials and demonstrating durability across supply networks. The performance of copper as a commodity and the ongoing development of projects in key jurisdictions have underscored the metal’s essential role in the global resource economy.

Operational Positioning and Project Milestones

Granite Creek’s flagship asset is the 100-percent-owned Carmacks copper-gold-silver project in Yukon’s Minto Copper Belt. The project’s 2023 Preliminary Economic Assessment (PEA) outlined a post-tax net present value (NPV) of CA$330 million under a case scenario using metal prices of US$4.25 per pound copper, US$2,000 per ounce gold, and US$25 per ounce silver. This scenario also projected an internal rate of return of 38% and an initial nine-year mine life. Average all-in sustaining costs were estimated at US$2.57 per pound of copper equivalent.

The Carmacks Project contains a measured and indicated mineral resource of 36.2 million tonnes grading 1.07% copper equivalent, including 0.81% copper, 0.31 grams per tonne gold, and 3.41 grams per tonne silver. The deposit is defined by over 50,000 meters of drilling and includes both oxide and sulphide zones. Recent metallurgical test results released in January 2024 showed a significant improvement in copper recovery, with total recovery for oxide material reaching 88%, up from a prior base case of 64%. Sulphide recovery was reported at 93.7%. [OWNERSHIP_CHART-5253]

Located within 20 kilometers of hydroelectric infrastructure and accessible by road, the Carmacks project is considered to have considerable exploration upside. Multiple near-mine and regional targets, including Carmacks North, present further opportunities for resource growth. The company also holds the LS Molybdenum Project and the Star Project in British Columbia.

Ownership and Share Structure

According to Refinitiv, insiders own 6.38% of Granite Creek Copper, including the CEO Johnson with 2.55%. The next top two, both directors, are Robert Sennott with 2.11% and Michael Rowley with 1.37%.

The company does not have any institutional investors. Retail investors own the remaining 93.71%.

Granite Creek has 198.27 million shares outstanding and 185.79 million free-float traded shares. The company’s market cap is CA$3.97 million, and it trades in a 52-week range of CA$0.02 to CA$0.06 per share.

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Important Disclosures:

1. Granite Creek Copper is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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( Companies Mentioned: GCX:TSX.V; GCXXF:OTCQB, )

Source: https://www.streetwisereports.com/article/2025/08/08/copper-explorer-approves-yukon-merger-deal.html