Mundoro Announces Strategic Investment by Centerra Gold

Centerra Gold Inc. completed a private placement of 12,374,000 Mundoro Capital Inc. shares at C$0.33 per share, generating approximately C$4.08 million in gross proceeds. The transaction grants Centerra a 9.9% equity stake subject to a four-month hold period, along with participation rights to maintain its ownership percentage in future financings.

BHP Group Limited formally terminated its option agreements over the Central Timok and Borsko programs, which encompass eight licenses covering approximately 458.5 km². This move leaves Mundoro with 100% ownership of these assets free of options, following BHP’s previous funding of approximately CAD $8.0 million on the licenses. BHP’s options on the Trstenik and South Timok programs remain active and in good standing.

Exploration updates for 2026 highlight seven porphyry targets identified through re-logging and geophysics, five of which are drill-ready. Recent drilling at Skorusa East and Tilva Rosh South returned low-grade copper and gold intervals with clear alteration vectors, though no economic-grade intersections have been recorded to date.

The company is not issuing an earnings release. Prior-period context indicates a Q1 2026 net loss of $112,457, a cash position of $7.04 million, and working capital of $1.52 million.

Mundoro Capital Inc. (MUN) secured immediate working capital and validated its project generation strategy through a Centerra Gold investment, marking the company’s first-time strategic backer. The C$0.33 issue price trades at a premium to the recent $0.28–$0.30 range, signaling institutional confidence in the Serbia portfolio.

BHP’s termination of options on Central Timok and Borsko removes the guaranteed $35 million funding stream for those specific licenses but grants Mundoro full ownership and all generated data. Management’s stated intent to seek new partners aligns with the company’s established business model and mitigates immediate downside.

Exploration results confirm geological vectors and expand the drill-ready target list but remain in the early-stage testing phase. The low-grade intersections are consistent with prior-period context and do not yet indicate a resource definition.

The combined news provides capital, strategic validation, and portfolio clarity without altering the near-term cash burn profile or introducing unexpected dilution beyond the planned private placement.

Mundoro Capital Inc. (MUN) operates as a copper royalty generator and project generator, identifying, advancing, and packaging exploration properties for third-party funding while retaining royalties and discovery upside. Its flagship portfolio centers on the Timok Magmatic Complex in Serbia, which comprises the Central Timok, Borsko, Trstenik, and South Timok programs. The region hosts major operating mines including Bor, Cukaru Peki, and Majdanpek, yet remains underexplored for large-scale porphyry systems.

The company’s secondary assets include the Iskar (EE1) joint venture in Bulgaria, structured as a 51% JOGMEC and 49% Mundoro partnership, as well as 100% owned Arizona projects targeting Laramide porphyry and IOCG systems. These Arizona assets include Dos Cabezas, Picacho, and Copperopolis. Under its business model, partners fund exploration activities; Mundoro earns operator fees and option payments, retaining a 2% NSR on BHP projects and a 20% carried interest on JOGMEC.