{"id":112883,"date":"2026-08-28T13:00:08","date_gmt":"2026-08-28T13:00:08","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/112883\/"},"modified":"2026-08-28T13:00:08","modified_gmt":"2026-08-28T13:00:08","slug":"mogotes-secures-21-million-rio-tinto-investment","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/112883\/","title":{"rendered":"Mogotes secures $21 million Rio Tinto investment"},"content":{"rendered":"

Mogotes Metals<\/a> (TSX-V:MOG) has closed a US$15 million ($20.84 million) strategic investment from Rio Tinto Canada, a regional division of Rio Tinto<\/a> (ASX:RIO).<\/p>\n

Rio Tinto subscribed for approximately 30.39 million units at C$0.70 per unit for gross proceeds of US$15 million, equivalent to C$21.3 million. Each unit comprises one common share and half a warrant, with whole warrants exercisable at C$1.00 for 18 months from closing.<\/p>\n

The placement gives Rio Tinto access to Mogotes\u2019 exploration<\/a> team and district knowledge in the Vicu\u00f1a district, while providing Mogotes with Rio Tinto\u2019s global technical capabilities.<\/p>\n

Following the closing of this placement<\/a>, the companies formed a technical alliance focused on Mogotes\u2019 Filo Sur Copper-Gold-Silver Project in Argentina and Chile.<\/p>\n

Key elements of the alliance include the formation of a joint technical committee to advise the exploration program, the application of Rio Tinto\u2019s proprietary geoscience tools, and joint efforts to expand the consolidated land position.<\/p>\n

CEO Allen Sabet says the completion of this placement is \u201ca powerful endorsement\u201d of the prospectivity of Filo Sur and the broader Vicu\u00f1a district.<\/p>\n

\u201cThe alliance gives our team access to one of the deepest exploration capabilities in the industry while preserving Mogotes\u2019 ability to deliver value to all shareholders,\u201d Sabet says.<\/p>\n

Under the terms of the alliance, the companies will initially target the Filo Sur Project, but may expand their joint efforts across the broader Vicu\u00f1a district or include data sharing agreements on prospective targets in Kazakhstan.<\/p>\n

Concurrently, Mogotes issued an additional estimated 8 million units at the same price to existing investors exercising pre-emptive rights, raising a further C$5.6 million.<\/p>\n

Rio Tinto<\/a> has agreed to customary standstill restrictions during an exclusivity period. All securities issued carry a four-month-and-one-day statutory hold period under Canadian securities laws.<\/p>\n

Mogotes notes the placement received conditional approval from the TSX Venture Exchange.<\/p>\n

Mogotes Metals<\/a> is an explorer focused on discovering and developing copper<\/a>, gold<\/a>, and silver<\/a> deposits in the Vicu\u00f1a district of Argentina and Chile.<\/p>\n

Write to Paula Fabe<\/a> at Mining.com.au<\/a><\/p>\n

Images: Mogotes Metals<\/p>\n

\"\"<\/a><\/p>\n

Add to Watch List:Rio TintoMogotes MetalsSilverGoldCopper<\/p>\n","protected":false},"excerpt":{"rendered":"Mogotes Metals (TSX-V:MOG) has closed a US$15 million ($20.84 million) strategic investment from Rio Tinto Canada, a regional…\n","protected":false},"author":2,"featured_media":112884,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[20718],"tags":[4802,454,21219,26636,371,458,36574,12991,10832],"class_list":["post-112883","post","type-post","status-publish","format-standard","has-post-thumbnail","category-rio-tinto","tag-argentina","tag-chile","tag-copper","tag-gold","tag-investment","tag-kazakhstan","tag-placement","tag-rio-tinto","tag-silver"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117173264736517416","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/112883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=112883"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/112883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/112884"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=112883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=112883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=112883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}