Element 29 Renews IR Consultant Agreement and Engages Market Maker
Element 29 renews its investor relations and market maker services as Elida drilling advances toward a 2026 mineral resource estimate.
Element 29 Resources Inc. (ECU) announced the renewal of its Investor Relations Consultant Agreement with Port Guichon Strategic Advisory (PGSA) for 12 months, replacing an agreement that was set to expire on June 30, 2026. Additionally, the company engaged Velocity Trade Capital Ltd. as a market maker to maintain orderly trading and improve liquidity, with compensation set at $8,000 per month.
Operational updates confirm that two diamond drill rigs are active at the Elida Project, with 43 holes completed for a total of 28,079 meters. Pending core assay results are expected for holes ELID042, ELID043, and the extension of ELID035. The 2022 Inferred Mineral Resource Estimate remains at 321.7 million tonnes at 0.32% Cu, 0.029% Mo, and 2.61 g/t Ag.
Element 29 Resources Inc. (ECU) has entered into administrative agreements for investor relations and market making, standard operational maintenance for a TSX Venture-listed explorer that does not alter the fundamental outlook. The company’s recent drilling update confirms it is executing on its stated 2026 exploration plan, though the absence of new assay results means there is no immediate change to the resource model or valuation.
The engagement with a market maker may slightly improve trading liquidity, but the $8,000 monthly cost is immaterial relative to the company’s approximately $40 million cash position following the April 2026 financing. These developments align with previous expectations of ongoing drilling and administrative upkeep, presenting no surprises or material deviations from the company's stated work program.
Element 29 Resources Inc. (ECU) is a junior exploration company focused on copper, molybdenum, and silver projects in Peru, a world-class mining jurisdiction. Its flagship Elida Project is a porphyry Cu-Mo-Ag deposit with a 100% owned concession package of 22,800 hectares.
The current pit-constrained Inferred Mineral Resource (2022) stands at 321.7 million tonnes at 0.32% Cu, 0.029% Mo, and 2.61 g/t Ag, with a low strip ratio of 0.74:1.
The company is actively drilling to expand the resource footprint beyond the current pit shell and test deeper high-grade cores, guided by magnetotelluric geophysical models.