Freeport Repurchases 1.5% Royalty as Discussions Continue with Strategic Partners for Yandera Copper Project, One of the World's Largest Undeveloped Copper Projects
Freeport clears Yandera royalty, enabling strategic joint venture discussions for its copper assets in Papua New Guinea.
Freeport Resources Inc. (FRI) has completed the repurchase of the outstanding 1.5% net smelter returns (NSR) royalty on its Yandera Copper Project in Papua New Guinea. The transaction results in the Yandera project becoming 100% owned by the Company with no ongoing royalty obligations. The repurchase is part of a strategic review to maximize project value, citing record copper prices and potential for resource expansion.
The Company also announced a two-year extension of approximately 58.5 million share purchase warrants, subject to TSX Venture Exchange approval. Warrants are extended to expire in November, December 2028, and January 2029, with an exercise price of $0.06. Management highlighted strong interest from potential strategic partners and ongoing discussions to advance the project through a Definitive Feasibility Study (DFS) and Final Investment Decision.
Freeport Resources Inc. (FRI) announced a royalty repurchase, a move designed to streamline the company’s capital structure and facilitate discussions regarding joint ventures or strategic partnerships. This action aligns with the strategic partnership outreach initiated in January 2026 and supports management’s stated objective of advancing the Yandera project toward a definitive feasibility study (DFS).
Additionally, the company extended warrants to reduce near-term dilution pressure, providing management with further time to pursue partnership talks without immediate financing urgency. The announcement follows directly from the January 2026 memorandum of understanding (MoU) announcements and private placements, representing a logical progression of the existing development plan rather than a sudden shift in strategy or a new material catalyst.
Freeport Resources Inc. (FRI) is a pre-revenue junior exploration company focused on the Yandera Copper Project in Madang Province, Papua New Guinea. The project encompasses a 245.5 square kilometer tenement (EL 1335) and has incurred over US$200 million in exploration and development expenditures since 2005.
Historical resource data from a 2017 Pre-Feasibility Study conducted by Worley Parsons indicates Measured and Indicated Resources of approximately 727-728 million tonnes grading 0.39-0.45% copper equivalent. Management cautions that this historical resource is not current under NI 43-101 standards and requires new exploration, drilling, and engineering work to be classified as such. The company’s immediate goal is to advance the project through a Definitive Feasibility Study to support a Final Investment Decision and potential mine development.