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LONDON - Richmond Hill Resources PLC (AQSE:SHNJ) has modified the binding term sheet with Three Mile Beach Ltd regarding its acquisition of mineral exploration licenses in Quebec, according to a statement from Gunsynd PLC (AIM:GUN), which holds a stake in Richmond Hill.
The long stop date for the proposed transaction has been extended from June 30, 2025, to October 15, 2025, due to what Richmond Hill described as "an administrative delay in Quebec." The company now anticipates admission to AIM will occur in early to mid-September.
Richmond Hill noted in the press release that since entering into the transaction, several positive developments have occurred, including "the receding threat of USA tariffs on China, the copper price appreciating significantly and the return of a semblance of liquidity to UK junior markets."
Upon completion of the transaction, Richmond Hill will own the Saint Sophie Copper Project in Quebec, Canada. The project covers 87 square kilometers in the Beauce region, located 60 km south of The Becancour Battery Park and 150 km northeast of Montreal.
According to the statement, the project comprises 146 claims across multiple worked indices and historic mines of high-grade native copper, hosted in sedimentary rock and epithermal vein systems. Historical findings cited include copper grades over 55% Cu at some locations.
Gunsynd, which describes itself as an investing company, holds 3,590,594 ordinary shares representing approximately 3.43% of Richmond Hill’s issued share capital. Gunsynd also has loans outstanding (including interest) of £144,259 to Richmond Hill as of June 30, 2025.
The information was released as part of a regulatory announcement based on a press release statement from the companies involved.
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