Production / Operations
DENARIUS METALS ANNOUNCES UPDATE ON ITS CAPITAL STRUCTURE
DMET · Price
Executive Summary
- Denarius Metals received approximately CA$16.7 million in gross proceeds from the exercise of ~27.7 million warrants at prices between CA$0.60 and CA$0.66 per share.
- The company reports progress toward commercial concentrate production at the Zancudo Project (Colombia) with increased shipments to Trafigura and a new mill installation, targeting Q3‑2026 for full commercial output.
- In Spain, the firm is advancing joint‑venture financing for the restart of the Aguablanca Project, expecting restart activities in Q2‑2026.
Key Details
- Warrant Exercise Proceeds: CA$16.7 million cash received to date (≈27.7 M warrants exercised).
- Share Count & Market Cap (as of March 6, 2026): 189,356,286 common shares outstanding; market cap ≈ CA$206 M (share price CA$1.09).
- Production Update – Zancudo Project:
- Shipped 581 t of material to Trafigura in February vs. 362 t in January.
- Average grades over the last two months: ~10 g/t Au and 200 g/t Ag.
- New mill installation at Independencia Mine to expand crushing capacity; concentrate processing plant under construction, targeted commercial production by Q3‑2026.
- Spain – Aguablanca Project:
- Progress on joint‑venture level financing for restart.
- Anticipated commencement of restart activities in Q2‑2026.
- Capital Structure Summary (as of March 6, 2026):
| Security | Symbol / Description | Shares/Units | Exercise Price or Conversion Terms |
|---|---|---|---|
| Common shares | DMET | 189,356,286 | – |
| Stock options | – | 14,432,500 | CA$0.52 – CA$6.50 (2026‑2031) |
| Warrants (various series) | DMET.WT & unlisted | 75,000,000 (7,500,000 exercisable) + multiple unlisted tranches totalling ~72,969,743 | Prices ranging CA$0.50 – CA$8.00; expiries from Mar‑2026 to Jun‑2030 |
| Convertible notes | DMET.DB | 44,192,355 | Convert at CA$0.45 (Oct 19 2029) – principal CA$19,886,560 |
| Debentures | Unlisted | 23,787,190 | Principal CA$14,272,314; interest rate CA$0.60, maturing May 30 2030 |
- Fully Diluted Shares (in‑the‑money): 335,902,704 (based on CA$1.09 closing price).
- Total Fully Diluted Share Count: 344,738,074.
Notable Quotes
“We are very pleased with this latest development which strengthens our balance sheet as we continue to execute our growth strategy in Colombia and Spain…2026 is shaping up to be a transformational year for us…” – Serafino Iacono, Executive Chairman.
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Jun 25, 2026 · 17:38