Northwire Canada EditionWednesday, November 11, 2026
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Gold 3,994.10 −0.9% Silver 51.78 +1.1% Copper 6.26 +0.5% Oil 86.39 +0.4% Palladium 1,032.00 +1.1% AUXX 5.36 −4.5% TNR 0.425 +41.7% ORCL 0.030 +0.0% ELD 48.10 −4.6% OPW 0.140 −6.7% CDE 21.48 −1.0% AEM 265.97 −1.7% WDO 27.79 −1.9% BEA 0.090 +0.0% GAU 3.42 −3.9% BTO 7.38 −2.2% IMG 25.82 −2.0% BOL 0.050 −16.7% CNT 0.030 +0.0% EXN 0.245 −1.0% MNRG 0.075 +0.0% Gold 3,994.10 −0.9% Silver 51.78 +1.1% Copper 6.26 +0.5% Oil 86.39 +0.4% Palladium 1,032.00 +1.1% AUXX 5.36 −4.5% TNR 0.425 +41.7% ORCL 0.030 +0.0% ELD 48.10 −4.6% OPW 0.140 −6.7% CDE 21.48 −1.0% AEM 265.97 −1.7% WDO 27.79 −1.9% BEA 0.090 +0.0% GAU 3.42 −3.9% BTO 7.38 −2.2% IMG 25.82 −2.0% BOL 0.050 −16.7% CNT 0.030 +0.0% EXN 0.245 −1.0% MNRG 0.075 +0.0%
Financings

Aldebaran Announces Closing of $40 Million Bought Deal Offering

Aldebaran Shakes Off Nuton Exit with $40 Million PFS Funding Close

By The Northwire Desk — AI Analysis Feb 05, 2026 · 09:41 ALDE · 3.26 Aldebaran Resources Inc.
Executive Summary

The most recent news (February 5, 2026) confirms the closing of a $40,250,259 CAD bought deal offering. The company issued 12,384,695 common shares at $3.25 per share. This follows the February 3, 2026, announcement that underwriters fully exercised their over-allotment option. The primary purpose of these funds is to complete a Pre-Feasibility Study (PFS) on the flagship Altar copper-gold project in San Juan, Argentina, and for general working capital. Management stated that with this financing, they are "fully funded" to reach the PFS milestone.

Material Impact
  • Financial De-risking: The $40M injection is material as it provides the necessary runway to advance Altar beyond the PEA stage. As of September 30, 2025, the company had only $13.3M in cash, which would have been insufficient for a major PFS in the high-inflation environment of Argentina.
  • Financing Shortfall: Critically, the total amount closed ($40M) appears significantly lower than the $74.5M combined offering ($20M LIFE + $54.5M Private Placement) originally announced on January 26, 2026. This suggests that the "Concurrent Private Placement" with existing securityholders may have been downsized or is closing in tranches.
  • Shareholder Dilution: The financing was executed at $3.25, a steep discount to the $3.80 market price prior to the January 26 announcement. This has effectively capped the stock's near-term upside.
  • Loss of Nuton: The November 2024 termination of the option agreement with Nuton (a Rio Tinto venture) remains a significant negative overhang. Nuton's exit leaves Aldebaran without a major technical partner for its leaching technology, placing more pressure on the "base case" concentrator scenario.
ALDE · Price
Company Overview

Aldebaran Resources is focused on the Altar copper-gold project in San Juan, Argentina. - Flagship: Altar is a massive porphyry system with a 48-year mine life (per 2025 PEA). - Economics: After-tax NPV (8%) of US$2.0B and IRR of 20.5%. While the NPV is large, the IRR is relatively low for an Argentine project, reflecting the massive US$1.59B initial capital requirement. - Ownership: Aldebaran owns 80%, with Sibanye-Stillwater holding the remaining 20% after completing its US$25M earn-in.

Read the original news release →

More from Aldebaran Resources Inc.

Oct 05, 2026 · 07:00

Aldebaran Reports 1,728.9 m of 0.45% CuEq (0.41% Cu, 0.03 g/t Au & 1.34 g/t Ag), including 756 m of 0.68% CuEq (0.61% Cu, 0.03 g/t Au & 2.12 g/t Ag) at the Altar Copper-Gold Project in San Juan, Argentina

Drill Results Sep 09, 2026 · 07:00

Aldebaran’s Altar infill returned 513 m at 1.06% CuEq, marking strong but expected resource conversion.

Drill Results Aug 25, 2026 · 07:00

Aldebaran’s Centauri spin-out clears its final TSX-V hurdle, paving the way for a standalone listing and value unlock.

M&A / Property Aug 11, 2026 · 07:00

Aldebaran clears its final court hurdle, unlocking a standalone Argentine exploration entity for future mineral development.

M&A / Property Jul 23, 2026 · 15:32

Aldebaran closes Centauri spin-out financing in escrow ahead of the August shareholder distribution.

Financings Jul 06, 2026 · 06:14

Aldebaran secures C$25 million to finalize its spinout and fund drilling at its Argentine Centauri project.

Financings