Denarius Metals has completed a C$28.8 million strategic investment in Copper Giant Resources and closed a C$28.81 million private placement with Trafigura to fund the transaction.
Denarius subscribed for 40 million Copper Giant shares at C$0.72 each, giving it an approximately 15.34% ownership interest in the copper developer.
Denarius CEO Federico Restrepo-Solano has also joined Copper Giant’s advisory board.
The investment provides Denarius with exposure to Copper Giant’s Mocoa copper-molybdenum project in southern Colombia, which Copper Giant describes as one of the largest undeveloped resources of its kind in the Americas.
Concurrent with the Copper Giant investment, Trafigura subsidiary Urion Investments Holdings purchased Denarius securities for approximately C$28.81 million.
Urion acquired 67 million Denarius common shares and 12.5 million warrants at C$0.43 per unit.
Each warrant can be exercised at C$0.60 per share through August 21, 2029.
Denarius used the private placement proceeds to finance its Copper Giant investment.
The transaction significantly increases Trafigura’s ownership of Denarius.
Before the financing, Trafigura held approximately 1.73% of Denarius’ outstanding common shares.
Following closing, Trafigura beneficially owns and controls approximately 74.58 million shares, representing about 14.79% of the company’s outstanding common stock.
Trafigura also holds approximately 19.18 million warrants.
Assuming full warrant exercise, its ownership could rise to approximately 17.92% on a partially diluted basis.
Denarius currently operates mining projects across Colombia and Spain.
In Colombia, the company is in early production at its Zancudo gold-silver project while completing a 1,000-tonne-per-day processing facility expected to begin producing high-grade concentrates in the fourth quarter of 2026.
Its Spanish portfolio includes the Aguablanca nickel-copper project, the Lomero polymetallic project and the Toral zinc-lead-silver project.
