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Aztec Minerals Closes CA$6.4 Million Bought Deal Offering

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Aztec Minerals (AZT.V) has closed an upsized bought deal private placement offering to raise CA$6.4 million.

Aztec plans to use the proceeds to advance exploration at the Tombstone gold-silver project in Arizona and the Cervantes gold-copper project in Mexico, the mineral exploration company said Tuesday.

The company will also use the funds for general working capital purposes.

Under the offering, Aztec sold about 20 million units priced at CA$0.32 apiece. Each unit comprised one share and one-half of a warrant. Each warrant can be exercised for CA$0.42 per share for 24 months.

Aztec said the offering's close included the full exercise of the underwriter's option to purchase an additional 15% of the units, raising additional proceeds of up to about CA$835,200.

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Mining & Metals

Update: AtkinsRealis, Aecon, Secure Contracts with Ontario Power Generation

(Updates to add paragraphs 6-8)Candu Energy, a joint venture between AtkinsRealis Group (ATRL.TO) and Aecon Group (ARE.TO), signed a three-year contract worth CA$1.7 billion with Ontario Power Generation for the refurbishment of unit five of the Pickering nuclear generating station.The work is associated with the retube, feeder and boiler replacement project at the site, AtkinsRealis said Monday.The company said it expects work to be extended to units six, seven and eight once it receives regulatory approval. Ontario Power Generation said it expects the cost of refurbishing the four reactors to total CA$26.8 billion.The project is part of a plan to extend the life of Pickering's Candu reactors for over 30 years.AtkinsRealis said it will add its share of the contract to its nuclear backlog in the third quarter.Aecon (ARE.TO) said in a statement that its CA$1.75 billion share of the contracts with AtkinsRealis will be added to its construction segment backlog in the third quarter of 2026.Its partnership with Siemens Energy has also been awarded a CA$1.3 billion contract for the turbine generator replacement (TGR) project. Aecon holds a majority interest in the consortium and will provide construction services and material procurement.AtkinsRealis shares closed up CA$1.49 at CA$89.54 on the Toronto Stock Exchange, while Aecon shares closed up CA$3.81 at CA$51.01.

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Mining & Metals

Mark Carney's Government Introduces Bill C-39 to Speed Up Major Projects

The Government of Canada introduced Bill C-39, the Building Canada Strong Act, to speed up reviews for major infrastructure projects while supporting the workers who build them, according to a statement from Canada-US Trade Minister Dominic LeBlanc.The government said the bill is intended to provide businesses with greater speed, certainty, and predictability when investing in Canada. It aims to accelerate major projects, strengthen supply chains, open new markets, and unlock the country's natural resources, the statement added.As part of the "Canada Strong For All" initiative under the proposed bill, the government plans to add 100 new health and safety officers, increasing inspection capacity by about 70%. It will also hire 26 new staff at the Canada Industrial Relations Board to help clear the backlog of worker complaints against employers."The proposed measures were informed by cross-country engagement with workers, unions, employers, Indigenous Peoples, provinces and territories, industry, and other partners," the statement said.

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Mining & Metals

Elemental Royalty to Buy Orion Precious Metals Portfolio for $290 Million; CEO Resigns

Elemental Royalty (ELE.TO, ELE), up 1.2% in after-hours US trading, said Monday it entered into agreements to acquire a portfolio of five precious metals streams and royalties from funds managed by Orion Mine Finance Management for $290 million.The purchase price includes $200 million in cash and $90 million in equity, the company said.Separately, the company entered into a non-binding agreement with Carlin East to sell its Generation Business, which includes wholly owned exploration projects.Under the proposed transaction, Carlin East would also assume management and shared ownership of Elemental's option agreements and certain early-stage exploration royalties associated with the Generation Business.In return, Elemental would receive a cornerstone equity stake in Carlin East.Elemental also said chief executive David Cole resigned effective immediately to take a leadership role at Carlin East.Frederick Bell, currently Elemental's chief operating officer, was appointed chief executive officer and director.ELE's shares were up $0.27 to $21.99 at last look in after-hours US trading after closing up CA$0.66 to CA$30.45 on Toronto Stock Exchange

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