https://www.engineeringnews.co.za

South32 ups investment in American Eagle

6th June 2025

By: Creamer Media Reporter

     

Font size: - +

Diversified miner South32 has elected to exercise its top-up right to maintain a 19.9% equity interest in American Eagle Gold, following recent share issuances related to American Eagle’s acquisition of the NAK copper/gold project in British Columbia.

American Eagle will issue 1 156 000 charity flow-through shares at C$0.71 a share, generating gross proceeds of about C$820 000. The shares will be sold to an initial subscriber and then acquired by a wholly owned subsidiary of South32 at a discount to the issue price, in line with the November 2024 investor rights agreement between the two companies.

No warrants will be issued and no finders' fees will be paid in connection with the transaction.

“South32’s continued support speaks to the quality of the NAK project and the work our team has done,” said American Eagle CEO Anthony Moreau. “We’ve planned a bold drill programme to grow the size and grade of the deposit. American Eagle is well capitalised with over $36-million and we are in a strong position to move NAK forward and show its potential. We expect 2025 to be a pivotal year, with steady drill results throughout.”

The investment follows American Eagle’s recent move to complete its 100% option on the NAK project, located in the Babine district.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.055 0.629s - 140pq - 2rq
Subscribe Now