{"id":83221,"date":"2026-07-15T03:54:20","date_gmt":"2026-07-15T03:54:20","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/83221\/"},"modified":"2026-07-15T03:54:20","modified_gmt":"2026-07-15T03:54:20","slug":"strategic-alliance-formed-as-rio-tinto-invests-in-mogotes-metals","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/83221\/","title":{"rendered":"Strategic alliance formed as Rio Tinto invests in Mogotes Metals"},"content":{"rendered":"<p><a href=\"https:\/\/www.mogotesmetals.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Mogotes Metals<\/a> (TSX-V:MOG) has entered a binding term sheet with <a href=\"https:\/\/www.riotinto.com\/en\/can\" target=\"_blank\" rel=\"nofollow noopener\">Rio Tinto<\/a> (ASX:RIO) Exploration Canada for gross proceeds of around US$15 million ($21.5 million).<\/p>\n<p><a href=\"https:\/\/mining.com.au\/company\/rio-tinto\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Rio Tinto<\/a> Exploration Canada, or one of its affiliates, will subscribe for 30.38 million units of <a href=\"https:\/\/mining.com.au\/company\/mogotes-metals\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Mogotes<\/a> at C$0.70 per unit.<\/p>\n<p>Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at an exercise price of C$1.<\/p>\n<p>Following the closing of the placement, Mogotes and Rio Tinto will enter a strategic and technical alliance focused on the Filo Sur Project in the Vicu\u00f1a district of Argentina and Chile.<\/p>\n<p>The placement will initially give Rio Tinto around a 5% interest in Mogotes, with the two companies open to further long-form agreements. Upon completion of the placement, Rio Tinto will receive a 15-month exclusivity period in which it will be entitled to acquire up to 9.99% of the common shares in Mogotes.<\/p>\n<p>The alliance between the two companies will provide Mogotes\u2019 exploration team with Rio Tinto\u2019s global technical capabilities.<\/p>\n<p>Among the initiatives will be the formation of a joint technical committee, application of Rio\u2019s proprietary geoscience tools for Filo Sur, joint efforts to expand the land position in the broader Vicu\u00f1a district, and the opportunity for additional exploration in prospective mineral belts, including in Kazakhstan.<\/p>\n<p>Mogotes CEO Allen Sabet says that this investment is a \u201cpowerful endorsement of the prospectivity of Filo Sur and the broader Vicu\u00f1a district\u201d.<\/p>\n<p>\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 <\/p>\n<p>Mogotes Metals is a <a href=\"https:\/\/mining.com.au\/commodities\/copper\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">copper<\/a>, <a href=\"https:\/\/mining.com.au\/golds-quarter-from-safe-haven-to-new-discoveries\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">gold<\/a>, and <a href=\"https:\/\/mining.com.au\/more-than-beta-silver-coming-into-its-own-in-q2\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">silver<\/a> explorer advancing three porphyry projects with tier-one potential across three continents.<\/p>\n<p>Write to <a href=\"https:\/\/mining.com.au\/strategic-alliance-formed-as-rio-tinto-invests-in-mogotes-metals\/mailto:amy.rotman@mining.com.au\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Amy Rotman<\/a> at <a href=\"https:\/\/mining.com.au\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Mining.com.au<\/a><\/p>\n<p>Images: Mogotes Metals<\/p>\n<p>Add to Watch List:Mogotes MetalsRio Tinto<\/p>\n","protected":false},"excerpt":{"rendered":"Mogotes Metals (TSX-V:MOG) has entered a binding term sheet with Rio Tinto (ASX:RIO) Exploration Canada for gross proceeds&hellip;\n","protected":false},"author":2,"featured_media":83222,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[20718],"tags":[4802,36768,454,12991],"class_list":["post-83221","post","type-post","status-publish","format-standard","has-post-thumbnail","category-rio-tinto","tag-argentina","tag-binding-term-sheet","tag-chile","tag-rio-tinto"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116921975648283502","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/83221","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=83221"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/83221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/83222"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=83221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=83221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=83221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}