Mogotes Metals Announces Issuance of Common Shares Under Option Agreement
Mogotes advances its Filo Sur project through a Rio Tinto alliance while issuing routine options that dilute existing shareholders.
Mogotes Metals Inc. exercised an option to acquire a 100% interest in the "La Perla Uno a Diez" mining concessions located in the Atacama Region of Chile. The acquisition was settled through the issuance of 598,042 common shares valued at $0.47 per share, resulting in a total consideration of approximately $281,070. These issued shares are subject to a statutory hold period of four months and one day. The transaction fulfills a milestone outlined in an option agreement dated July 29, 2025, which references prior issuances made in April and August 2025.
Mogotes Metals Inc. (MOG) has taken a routine administrative step to secure additional land in Chile. The transaction involves a dilutive impact of approximately 0.11% of outstanding shares, with financial consideration deemed negligible relative to the company's cash position. This action serves as a follow-up to previously disclosed option agreements and does not alter the company's exploration roadmap, financial position, or strategic partnerships.
Mogotes Metals Inc. (MOG) is a pre-revenue exploration company advancing copper-gold-silver projects across Argentina, Chile, Kazakhstan, and the USA. Its flagship project, Filo Sur, is located in the Vicuña District straddling the Argentina-Chile border, directly adjacent to the BHP/Lundin Filo del Sol deposit.
Recent exploration at Filo Sur has identified high-grade, shallow copper-gold-silver-molybdenum mineralization at the Albor and Cruz del Sur targets, with plans to ramp up drilling to 20,000 meters in the 2026-2027 season. The company also holds options for the Beskauga project in Kazakhstan, which has an NI 43-101 resource of 111.2Mt indicated, and the Copper Cliff project in Montana, a joint venture with Kennecott/Rio Tinto.