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Business Wire
25-06-2025
- Business
- Business Wire
Arizona Sonoran Buys-down 0.64% of the Cactus Project Royalties
CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)-- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) ('ASCU' or the 'Company'), an emerging U.S. copper developer, is pleased to announce that its subsidiaries have exercised their rights to buy-down 0.64% of certain net smelter returns royalties on the Cactus Project (collectively, the 'NSRs'; see FIGURE 1, outlined in yellow), ahead of the applicable July 10, 2025 exercise notice expiry dates. Total cash payments of US$8.91 million will be made to RG Royalties LLC, a subsidiary of Royal Gold Inc. (RLGD:NASDAQ) and Elemental Altus Royalties Corp. (ELE:TSXV), to reduce the aggregate percentage of the NSRs from 3.18% to a remaining 2.54% (collectively, the 'Buy-downs'). The Buy-downs are expected to close on or about August 12 th, 2025. Our team remains focused on the critical workstreams needed to position the Cactus Project as a lower risk, top-tier copper development project and among the best-positioned in North America to deliver copper cathode production. The Buy-downs continue the Company's royalty reduction strategy as it continues to optimize Project economics in advance of the Pre-Feasibility Study ('PFS') scheduled for completion later this year. The remaining 2.54% NSR applies to the Cactus West and Cactus East deposits as well as a portion of the Parks/Salyer deposit, outlined in yellow in FIGURE 1. In early Q2 2025, the Company's subsidiary had two historic ASARCO royalties (Nolles/Wagoner; each 5%) vacated by final judicial order. Additionally, in January, ASCU bought down a royalty on the BCE Property, covering a small portion of the Parks/Salyer deposit, from 1.5% to 0.5% for a cash payment of US$500,000 (PR dated JAN 6, 2025), as outlined in blue in FIGURE 1. The southern portion of the Parks/Salyer deposit outlined in white in FIGURE 1, formerly referred to as the MainSpring Property, is not subject to any royalties and comprises the first four years of production in a conceptual mine plan as contemplated by the 2024 Preliminary Economic Assessment ('2024 PEA'; see PR dated AUG 4, 2024 | Technical Report). George Ogilvie, ASCU President, CEO and Director commented, 'Upon completion of these Buy-downs, the collective reduction of Cactus Project royalties in 2025 will be a strategic milestone for the Company, set to strengthen Project economics, optimize future cash flows and return copper price upside to our shareholders, as projected in the 2024 PEA. Having just completed the $51.75 million bought deal financing, we now have the necessary runway to advance Cactus, with confidence and clarity, through PFS) and then Definitive Feasibility Study to an eventual Final Investment Decision, potentially in Q4 2026. Our team remains focused on the critical workstreams needed to position the Cactus Project as a lower risk, top-tier copper development project and among the best-positioned in North America to deliver copper cathode production, with a projected industry-leading capital intensity.' The Company's subsidiaries, Cactus 110 LLC and Arizona Sonoran Copper Company USA, Inc., have provided notice of exercise of their rights to buy‑down (i) Royal Gold's 2.5% NSR to 2.0% for US$7.0 million and (ii) Elemental Altus' 0.68% NSR to 0.54% for US$1.91 million, that will result in an aggregate reduction in Cactus Project royalties of 0.64% for aggregate payments of US$8.91 million. These NSRs were initially purchased in 2021 by funds of Tembo Capital and Resource Capital Funds, which each subsequently sold its NSRs to Royal Gold (December 2024) and Elemental Altus (September 2023), respectively. The Buy-downs are expected to close on or about August 12, 2025, following which Royal Gold will hold a 2.0% NSR and Elemental Altus a 0.54% on the Cactus Project (as shown in FIGURE 1, outlined in yellow). About the Cactus Project The Project is a lower risk brownfield open pit copper project with onsite permitted water wells, substation and transmission lines, neighbouring nationwide railroad, nearby nationwide highway and an on-site office with a team of 20 engineers and geologists advancing Cactus to PFS, scheduled for completion later this year. The PFS will build off the heap leach and solvent extraction and electrowinning operation, producing LME Grade A copper cathodes, as contemplated in the 2024 PEA. The 2024 PEA projected a low capital intensity of under $10,000 per ton and an unlevered life of mine free cash flow of approximately $7.3 billion, from annual average production of 116,000 short tons of copper cathode over the first 20 years. The 2024 PEA projected an after-tax net present value (8%) of $2.03 billion and internal rate of return of 24%, at a $3.90/lb copper price, and an increase to $2.9 billion and 30%, respectively, at a copper price of $4.50/lb. ASCU has appointed Hannam & Partners as project financial debt advisor for project financing. Upon completion of the PFS, the Cactus Project team will immediately advance required amendments of applicable state permits and initiate the Definitive Feasibility Study for completion ahead of a potential Final Investment Decision, potentially by Q4 2026. Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release. About Arizona Sonoran Copper Company ( | ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2024 PEA proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a State-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company's objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise. Cautionary Statements regarding Forward-Looking Statements and Other Matters Forward-Looking Statements All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute 'forward-looking statements' and 'forward-looking information' (collectively, 'forward-looking statements') within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'advancing', 'ahead', 'anticipated', 'assumptions', 'become', 'believes', 'commitment', 'conceptual', 'confidence', 'contemplated', 'continues', 'could', 'delivery', 'developer', 'emerging', 'estimates', 'exploration', 'eventual', 'expectation', 'feasibility', 'focused', 'future', 'generational', 'later', 'long-term', 'milestone', 'objectives', 'optimize', 'options', 'plan', 'positioned', 'potentially', 'pre-', 'projected', 'proposes', 'rights', 'risk', 'runway', 'scheduled', 'set to', 'strategy', 'studies', 'subject to', 'upside', and 'will', or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, would, will (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements include those relating to the completion (or close) of the Buy-downs (including the timing thereof and resulting reductions in either such NSR individually and/or in the aggregate) and the implications thereof (including impacts on the cash flows and other economics of the Cactus Project, and any upside for shareholders, related to such Buy-downs and/or any other prior royalty reductions or royalties vacated); the impacts of the Company's royalty reduction strategy (including on Project economics), and any related strategic milestone; the impacts of the recently completed bought deal equity financing (including that such financing provides the necessary runway to advance the Cactus Project (including all Project-‑related workstreams) through Pre-Feasibility Study (or PFS) and then Definitive Feasibility Study to an eventual Final Investment Decision, potentially in Q4 2026, and any related confidence and clarity; any eventual Final Investment Decision (including timing thereof); ongoing and future workstreams (including those related to the PFS, and any permit amendments and Definitive Feasibility Study thereafter, or otherwise) and implications thereof (including positioning of the Cactus Project as to associated risk or ranking within Arizona or otherwise, and to deliver copper cathode production, with a projected industry-leading capital intensity); the risk of the Cactus Project; ongoing and future technical studies (including the current ongoing Pre-feasibility Study (or PFS) and any eventual Definitive Feasibility Study), moving forward with such study work (including related or other workstreams) and the timing, results or implications thereof (including any eventual Final Investment Decision); the results of the 2024 PEA (including risk, capital intensity, cash flow, net present value, or returns (including internal rate of return) and other economics, mine plan and production, and proposal of a generational open pit copper mine); the PFS and the Cactus Project contemplated thereby; project financing; the Company's strategic and other objectives (including commitment to disciplined execution and long-term value creation for our shareholders, and the Cactus Project becoming a significant producer of copper cathodes in Arizona and the U.S.); and the future plans or prospects of the Company (including sustainability of the Cactus Project and becoming a mid-tier copper producer). Although the Company believes that such statements are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this press release which may prove to be incorrect include those set forth or referenced in this press release, as well as those stated in the Company's prior press releases referenced herein (collectively, the 'Referenced PRs'), the technical report for the Cactus Project filed on August 27, 2024 (the '2024 PEA Technical Report'), the Company's Annual Information Form dated March 27, 2025 (the 'AIF'), Management's Discussion and Analysis (together with the accompanying financial statements) for the year ended December 31, 2024 and the quarter already ended in 2025 (collectively, the '2024-25 Financial Disclosure') and the Company's other applicable public disclosure (collectively, 'Company Disclosure'), all available on the Company's website at and under its issuer profile at Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the 'Risk Factors' in the AIF, and the risks, uncertainties, contingencies and other factors identified in the Referenced PRs, the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company's business, financial condition and prospects that is provided in the AIF, the 2024-25 Financial Disclosure and other Company Disclosure. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release (or as otherwise expressly specified) and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the AIF, the Referenced PRs, the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. Preliminary Economic Assessments The Preliminary Economic Assessment (or 2024 PEA) referenced in this press release and summarized in the 2024 PEA Technical Report is only a conceptual study of the potential viability of the Cactus Project and the economic and technical viability of the Cactus Project has not been demonstrated. The 2024 PEA is preliminary in nature and provides only an initial, high-level review of the Cactus Project's potential and design options; there is no certainty that the 2024 PEA will be realized. For further detail on the Cactus Project and the 2024 PEA, including applicable technical notes and cautionary statements, please refer to the Company's press release dated August 7, 2024 and the 2024 PEA Technical Report, both available on the Company's website at and under its issuer profile at
Business Insider
23-06-2025
- Politics
- Business Insider
Between Cambridge and the continent: ‘Africa Together' as a stage for power, promise, and paradox
At a time when narratives about Africa's future are too often shaped in foreign capitals, the 11th Annual Cambridge Africa Together Conference (ATC 2025) this past May felt like a reclamation. Organised by the African Society of Cambridge University (ASCU), not by politicians or think tanks but by students, ATC 2025 brought together ministers, a vice president, former governors, and even a presidential hopeful. Under the theme 'Flames of the Big Four, Shining with Many More,' over 200 guests gathered in wood-panelled halls and historic colleges not to reminisce, but to reimagine. Over two days, the continent's most influential figures stood alongside its emerging leaders—asserting presence, igniting ideas, and wrestling with the complex politics of return. The Power of Presence in Places of Influence Cambridge is no stranger to power. For centuries, its lecture halls and debating chambers have shaped the ideas and individuals that governed empires. But during ATC 2025, that power flowed in a different direction. When sitting ministers, central bank executives, and a former presidential candidate took the stage this May, they were not simply participating in a student-led gathering—they were asserting a presence that has too often been peripheral in such spaces. And by doing so, they transformed the institution itself. It is no small thing for the Vice President of Botswana to deliver a keynote in the same chamber where generations of foreign policy giants once laid out the ideas that shaped global power. But Vice President Ndaba Gaolathe used the moment not for spectacle, but for reorientation. He challenged the logic of regional exceptionalism—refusing to reduce African agency to the so-called 'Big Four'—and insisted instead that 'small' states, like salt in a dish, are essential to the whole. 'Trust,' he declared, 'more than oil, more than gold, is the most valuable commodity on global markets.' The message was unmistakable: presence in elite institutions must be matched by a redefinition of who counts as powerful. That redefinition extended across sectors. Two of the continent's most influential economic actors— Honourable Vitumbiko Mumba, Malawi's Minister of Trade and Industry, and Mr Armando Manuel, Chairman of Angola's Sovereign Wealth Fund—recast the narrative around African borrowing and capital management. Speaking in rooms where African economies are often reduced to case studies, both men presented a forward-looking vision grounded in financial sovereignty. 'We are not borrowing to survive,' said Mumba. 'We are borrowing to build.' Manuel went further, urging African governments to use public wealth funds not merely to store capital but to transform the real economy. Their presence at ATC 2025 was not just symbolic—it was strategic. This was not Davos. But it was being treated with the same seriousness. That seriousness extended to public service sectors often ignored in global financial forums. Professor Tumani Corrah, one of The Gambia's most distinguished medical researchers, reminded the audience that Africa carries 25% of the global disease burden but contributes only 3% of global health research. His demand—for continent-led institutions that generate rather than host knowledge—landed with the authority of someone who had built such institutions from the ground up. Similarly, Mrs Mukwandi Chibesakunda, CEO of Zambia's largest bank, used her platform to show what inclusive finance can look like in practice: 'Compliance isn't about ticking boxes,' she said. 'It's about ensuring the most vulnerable are brought in—not pushed out.' For students in the audience—many of whom would become future technocrats—this was not an abstract debate. It was policy in motion. That clarity of purpose was matched by clarity of voice. Former Governor of Anambra State, His Excellency Peter Obi, widely regarded as one of Nigeria's most compelling national figures, stripped away any illusion that governance failures are technical. 'Our biggest problems are not mysterious,' he said. 'They persist because systems are broken—and we've made peace with that failure.' In front of an audience that included both aspiring public servants and seasoned practitioners, Obi offered no diplomatic hedging. What he offered was rare: accountability on record from someone who still intends to lead. And yet, even as these high-level figures dominated headlines, some of the sharpest interventions came from voices too often sidelined. Zimbabwe's Ms Chido Cleopatra Mpemba, the African Union's Special Envoy for Youth, challenged the very structure of policymaking on the continent. 'Too often, we are spoken for,' she said. 'Not here.' Her insistence that young Africans must be embedded not just in rhetoric but in the mechanics of governance resonated deeply with the student organisers—who had, in fact, created that very space. The implications of this presence are hard to ignore. For Cambridge students—many of them African, many of them future leaders—engaging directly with ministers and policymakers collapsed the usual distance between lecture and legislation, between theory and statecraft. And for the speakers themselves, the setting mattered. Speaking at Cambridge still carries international weight. But at ATC 2025, that weight was redirected—not as validation from the West, but as leverage for African agendas, broadcast from a global platform. The Promise of a Diaspora Ready to Build ATC 2025 was a testament to the organisational brilliance and sheer will of its student hosts. From mobilising political leaders to curating panels on clean energy, financial innovation, and regional security, the students demonstrated deep intellectual and emotional investment in the continent. But more than that, they redefined the power dynamics of place: Cambridge did not confer legitimacy on their efforts—it was the backdrop they expertly commanded. Africa's most influential voices may have filled the rooms, but it was young Africans abroad who set the stage. The charge was led by Ms Amirah Mimano, the Conference Chair and an LLM student from Kenya, who was a constant presence—fielding calls, coordinating last-minute adjustments, and escorting speakers into rooms she had filled, programmed, and prepared. Working alongside her were the Co-Heads of Programmes and Logistics, Ms Anab Issa, an MPhil student from Tanzania, and Ms Sally Musonye, an MPhil student from Kenya, who moved steadily through the venues, managing transitions and keeping the schedule on course. Ms Samuela Aduna, the Head of Publicity and an MPhil student from Ghana, managed the conference's public face in real-time—curating its digital presence and supporting press access with the same meticulous attention she had brought to months of communications planning. Meanwhile, Ms Choonzo Chiyumba, the Head of Corporate and a PhD student from Zambia, could often be found engaging with sponsors and guests, nurturing the partnerships that helped sustain the event. Behind them stood the ASCU Executive Committee—led by its President, Mr Samuel Agyapong, a PhD student from Ghana—and a wider network of volunteers and staff, coordinated by the Chief of Staff, Ms Judy Agbo, an MPhil student from Ghana. Across both days, dozens of students worked diligently to guide guests, adjust room setups, relay messages, and manage the countless moving parts that brought the programme to life. Their presence in every room, corridor, and courtyard was a visible reminder that the strength of the event lay in how many students rallied behind it to realise the vision. That brilliance extended far beyond logistics. Across sessions on infrastructure, health, education, and security, it became clear that ATC 2025 was not simply about convening people—it was about constructing ideas. Students were not passive attendees. They moderated sessions, challenged speakers, and steered discussions with the confidence of those who see themselves as stakeholders in Africa's direction. In the inter-university debate on foreign investment—one of the most animated moments of the weekend—students from Cambridge, Oxford, LSE, and Imperial clashed over whether Africa's economic ties abroad fuel dependency or drive development. It was less a competition than a declaration: the diaspora is not detached. It is discerning, informed, and unafraid to question the terms of Africa's engagement with the world. That energy ran throughout the programme. In the education session, Dr Abena Nyarkoa, Founder of the Nkunim Education Project, challenged top-down curriculum models and advocated for localised approaches that equip students with real, transferable skills. In the security session, Lieutenant General Abdulrahman Dambazau, former Minister of Interior of Nigeria, warned that Africa's youth, caught between institutional distrust and economic exclusion, risk becoming fertile ground for armed recruitment. And in the infrastructure session, Mr Taslim Ngom, former Group CEO of Sertem Group, issued a call to action: 'Right now, our youth can imagine the future,' he said, 'but they don't have the tools or capital to build it.' Unlocking those tools, he argued, demands not just imagination, but regulatory reform, financing innovation, and a shift in how governments measure impact. Mr Junior Lusu Kika, ASCU General Secretary and a PhD student from Congo, captured the mood succinctly: 'The idea of the conference is to prompt conversation—yes—but also to come up with plans and something that's implementable.' And that's exactly what happened. Conversations sparked over two days are already seeding cross-border partnerships—such as those between Botswana and Malawi on productive debt and trade corridors—and laying the foundation for future coalitions, as seen in the reformist synergy among Nigerian leaders across regions. Cambridge, for those few days, was not an endpoint but a meeting point. And the promise of the diaspora lies not in where they are, but in what they do—and how far those actions travel. The Paradox of Being African—and Abroad Even as ATC 2025 celebrated diasporic leadership and pan-African collaboration, another, more intimate thread wove through the halls: the quiet, recurring question of return. This is the heart of the paradox: the better educated these young Africans become, the more likely they are to stay away. Cambridge, Harvard, Oxford—the world's top institutions offer both knowledge and a pathway to global opportunity. Once in, few leap back into countries where power supply is unstable, and research budgets are scarce. Obi captured this tension with characteristic bluntness. 'Only about 10% of African students abroad want to return to Nigeria,' he estimated. Asked how that might change, he offered a roadmap: 'Fix insecurity, create a non-corrupt country where there's rule of law—and people will come back.' Africa isn't lacking in talent—it's lacking in structure. A continent brimming with ingenuity finds its best minds leaving not out of disloyalty, but out of necessity. As one student noted, there must be 'the right incentives, the right support' to keep top talent engaged at home. Still, the paradox persists. When Obi stood beside the former Governor of Kaduna State, His Excellency Nasir El-Rufai, at ATC 2025, their image sparked more than speculation about Nigerian coalition-building—it prompted quiet reflection among students. Will I go back? What will I build? What does leadership look like when your training is here, but your allegiance is there? These weren't questions posed in plenaries, but they echoed in stairwells and late-night conversations. There was no single answer—only a shared awareness of complexity. Kika reflected on the experience of learning from other African countries rebuilding after conflict: 'I feel like it's our time to lead,' he said. 'My field is in land sciences. It's deeply relevant back home—plant disease, food security—but I still need a base as a scientist before I go back.' Ms Chioma Ezeokoye, an MPhil student from Nigeria, echoed this sentiment: 'Eventually, I want to go back to start a fund and invest in startups… but not right now.' And Ms Michelle Twumasi, an MFin student from Ghana, expressed her desire to set up an NGO someday—but for now, staying abroad offers more immediate growth. For many, remaining overseas wasn't a sign of disconnection—it was a strategy. A deliberate effort to build skills, networks, and capital that might later be reinvested at home. Thus, perhaps the future lies in reframing what it means to return. Physically or virtually, through capital or curriculum, today's African diaspora may find new ways to serve the continent they carry in their hearts—even from a distance. Influence and belonging don't always move together. But if Africa is to meet its moment, it may need both.
Malay Mail
13-06-2025
- Entertainment
- Malay Mail
Malaysia's original superhero returns: Astro Shaw unveils next phase of ‘Keluang Man' franchise with ‘Baling' film, new live-action series
KUALA LUMPUR, June 13 — It has been several weeks since the May 29 nationwide release of the much-anticipated live-action film featuring Malaysia's original superhero, Keluang Man. Since its debut, the majority of Malaysians have shown great appreciation for the film, with many praising its nostalgic '90s vibe and the distinctly Malaysian soundtrack woven throughout. However, the most widespread acclaim has undoubtedly gone to the lead actor Nas Muammar Zar (Nas-T) for his performance as Borhan, also known as Keluang Man, as his portrayal of the character and unique acting style have been especially well received. While the film has received praise, it has also raised questions about the future of the Keluang Man franchise and the broader Astro Shaw Cinematic Universe (ASCU), which was announced last year. Questions remain about the future development of the concept, in addition to what lies ahead for the Keluang Man franchise. Raja Jastina Raja Arshad, head of Astro Shaw, said that the Keluang Man franchise universe will continue with the film Baling, to be showcased next in the universe. 'While Keluang Man was based on the original 90s animation by Kamn Ismail, Baling will draw from a folklore that many Malaysians may find familiar. 'It will incorporate elements of a Malaysian story that audiences might recognise,' she said, adding, 'It is going to be darker than Keluang Man.' Raja Jastina Raja Arshad stated the Astro Shaw Cinematic Universe will continue as planned. — Picture by Choo Choy May As for the Keluang Man films, the sequel will still move forward, but before the planned sequel, a live-action Keluang Man series will be released. 'It's not a continuation; it's something fresh, though the character of Borhan will still be there. "This is the next stage of Keluang Man, and it's slightly different from how we're approaching the next chapter of Keluang Man, which will be presented as an original series," said Jastina. The story is currently in development, but director Answari Ashraf will return to take the lead for the series. The release is tentatively planned for late next year or early the following year, though no official date has been set. Regarding the future of the whole ASCU, Jastina confirmed that it is still moving forward, where characters under Astro Shaw will come together in an ultimate convergence film in 2028. 'There are no changes in terms of what we're planning to deliver. It's just that we might add a few things or move some elements forward.'
The Star
05-06-2025
- Entertainment
- The Star
Malaysia's iconic superhero Keluang Man finally soars to the silver screen
This film tells the story of Borhan, a psychiatric patient in Kluang, who lives a double life as the mysterious vigilante Keluang Man. Photo: Keluang Man/Instagram After decades of nostalgia and years of anticipation, Keluang Man, Malaysia's original animated superhero, has finally made his live-action debut in cinemas nationwide. Released on May 29, the big-screen adaptation breathes new life into a local legend, blending action, humour and heartfelt storytelling in true Malaysian style. Directed by Anwari Ashraf, the man behind Polis Evo and Project: High Council , Keluang Man is not just another superhero flick. It's a tribute to Malaysian pop culture, a reinvention of an iconic character from the 1990s, and the start of the Astro Shaw Cinematic Universe (ASCU). This film tells the story of Borhan, played by Nas Muammar Zar, better known as Nas-T, a psychiatric patient in Kluang who lives a double life as the mysterious vigilante Keluang Man. Haunted by a voice in his head which is voiced by radio icon Halim Othman, Borhan finds himself pulled between delusions, memories and justice, especially when confronted with his estranged brother Shamsir, played by Datuk Remy Ishak. The story unfolds with a quirky cast of characters including Shweta Sekhon as Dr Malini, Borhan's psychiatrist, and Anwaar Beg Moghal as Inspector Sahab, her relentless brother who is hot on Keluang Man's trail. Datuk Rosyam Nor rounds out the cast as Ahmad, Borhan's aged but wise mentor. Speaking at the movie's gala premiere, lead actor Nas-T admitted that stepping into Borhan's complex world was both a challenge and a triumph. 'It's all thanks to director Anwari Ashraf, who wrote and directed it, and I entrusted everything to him. 'He moulded my character, and I followed his direction faithfully,' he said. In a particularly emotional twist, beloved radio host Halim returns not in body, but in voice. Lending his 1990s-era persona to a voice inside Borhan's head, Halim shared how surreal the experience was. 'Anwari told me about a superhero film with a character inspired by me, tied to the golden days of Roda Impian . 'I was touched by the director's imagination in wanting to capture Malaysia's memories from around 1998 to 2000,' Halim said. For Halim in particular, Keluang Man is considered a generational bridge that would bring people together. 'This isn't just a superhero film, it's a creative journey connecting nostalgia with a new generation,' he said. Shot in Kuala Lumpur, Kluang, Klang and Ipoh, Keluang Man took over two years to produce, with a reported budget of RM13 million. It represents the first full-fledged live-action adaptation of a local animated icon, originally created by the late Kamn Ismail. Director Anwari described the film as a love letter to fans and a vision of more local heroes to come. 'I hope audiences will embrace this film and help reignite the spirit of the superhero Keluang Man, so that his legacy can be passed down from one generation to the next,' he said. – Sinar Daily
Associated Press
02-06-2025
- Business
- Associated Press
Arizona Sonoran Appoints Hannam & Partners as Project Finance Advisor for the Cactus Project
CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)--Jun 2, 2025-- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) ('ASCU' or the 'Company') is pleased to announce that in preparation for project financing, it has appointed H&P Advisory Limited ('H&P') as its debt financial advisor for the Cactus Project, a copper cathode development project in Arizona ('Cactus' or the 'Project'). H&P will work closely with the management team to provide complete and proactive support in all aspects of the project financing process for the Project, acting as the primary interface with lenders. The project financing process will run concurrently with the continuing advancement of the Project's ongoing Pre‑feasibility Study ('PFS') on target for completion in H2 2025 and the eventual planned Definitive Feasibility Study ('DFS') slated for completion in H2 2026. ASCU is an emerging copper developer and producer, advancing its 100%-owned, past-producing Cactus Project on private land, 45 miles southwest of Phoenix, Arizona. As contemplated by the 2024 Preliminary Economic Assessment ('2024 PEA'), Cactus is a proposed heap leach and solvent extraction and electrowinning ('SX/EW') open pit project with the potential to produce +100,000 tonnes of copper cathode for direct use within US industry. The ASCU team will work with H&P who will play a pivotal role in securing the financing package in support of an eventual construction decision. Following the PFS, the Company plans to complete permitting for the Project, with the advancement of project financing to continue in parallel through to the planned DFS and an eventual construction decision in H2 2026. On that timeline, production of first copper cathode from the SX/EW plant is anticipated in late 2028 or 2029, after an expected 18-24 month construction period. Nick Nikolakakis, ASCU CFO and VP Finance, commented, 'H&P is an experienced project financing advisor and will be an asset to management in pursuit of financing for the development and construction of the Cactus Project. We continue to advance the Project through remaining study phases toward an eventual construction decision, and we will be concurrently seeking to identify and implement flexible financing solutions with a low cost of capital. We believe that the Project's location, projected long mine life, robust cash flow estimates and other economic metrics, are well suited to support a long tenor project financing facility, and to that end we look forward to close dialogue with Exporting Credit Agencies, commercial banks, and other potential lenders. Demand for copper as a critical metal is outpacing supply within the US, and Cactus is well positioned to become a major contributor to the US copper supply chain with an operation projected to produce in excess of 100,000 tons of copper cathodes per annum, on average over the first 20 years.' David Bellingham, H&P Partner, commented, 'Hannam & Partners is delighted to be partnering with the ASCU management team in its plan to secure project financing for the Cactus Project. We are proud to serve as the exclusive financial advisor for this world-class asset, led by a management team and board of directors with a strong track record of achievement. We look forward to playing a key role in advancing the Project's financing plan and, in doing so, supporting the production of this critical mineral in the United States.' Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release. About Hannam & Partners ( The Debt Advisory team at H&P has an extensive and successful track record advising and securing structured debt, alternative finance and political risk insurance cover for clients in the metals, mining, energy and associated infrastructure sectors across six continents. Transactions have ranged from tens of millions of dollars up to US$3 billion financing packages for global projects. It combines both technical and financial expertise within the minerals and energy space, providing us with unparalleled knowledge along the battery value chain. It advises companies ranging from single asset juniors to diversified majors, providing tailor-made solutions to their capital needs. In November 2024, HCF International Advisers Ltd merged with Hannam & Partners. About Arizona Sonoran Copper Company ( ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2024 PEA proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a State-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise. Cautionary Statements regarding Forward-Looking Statements and Other Matters Forward-Looking Statements All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute 'forward-looking statements' and 'forward-looking information' (collectively, 'forward-looking statements') within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'advancement', 'assumptions', 'become', 'believe', 'continuing', 'could', 'developer', 'emerging', 'estimate', 'exploration', 'eventual', 'expected', 'feasibility', 'following', 'forward', 'future', 'generational', 'initial', 'intended', 'long-term', 'look', 'objective', 'ongoing', 'options', 'planned', 'positioned', 'potential', 'preliminary', 'process', 'program', 'proposed', 'risk', 'run', 'seeking', 'slated', 'study', 'subject to', 'target' and 'will', or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, would, will (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements include those relating to ongoing and future studies (including the PFS and any DFS), continuing such study work, and the timing of completion and results or implications thereof (including any eventual construction decision and the timing thereof); results of the 2024 PEA (including the Project design, configuration and plan, mine life, timing and quantum of production, cash flow and other economic metrics, as referenced in this press release); permitting, development and construction of the Project (including plan and timeline therefor); project financing for the Project (including scope of the financial advisors mandate and execution thereof, plan and timeline for advancing and securing financing for any construction and development of the Project, and the timing and outcome thereof including availability, potential sources, structure, tenor, cost and other terms, and basis therefor); contribution to the US copper supply chain; and the Company's objectives, future plans or prospects (including becoming a mid-tier copper producer with lower operating costs, robust returns and long-term sustainable and responsible operations). Although the Company believes that such statements are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this press release which may prove to be incorrect include those set forth or referenced in this press release, as well as those stated in the technical report for the Cactus Project filed on August 27, 2024 (the '2024 PEA Technical Report'), the Company's Annual Information Form dated March 27, 2025 (the 'AIF'), Management's Discussion and Analysis (together with the accompanying financial statements) for the year ended December 31, 2024 and the quarter already ended in 2025 (collectively, the '2024-25 Financial Disclosure') and the Company's other applicable public disclosure (collectively, 'Company Disclosure'), all available on the Company's website at and under its issuer profile at Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the 'Risk Factors' in the AIF, and the risks, uncertainties, contingencies and other factors identified in the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company's business, financial condition and prospects that is provided in the AIF, the 2024-25 Financial Disclosure and other Company Disclosure. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release (or as otherwise expressly specified) and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the AIF, the 2024 PEA Technical Report, the 2024-25 Financial Disclosure and other Company Disclosure. Preliminary Economic Assessments The Preliminary Economic Assessment (or 2024 PEA) referenced in this press release and summarized in the 2024 PEA Technical Report is only a conceptual study of the potential viability of the Cactus Project and the economic and technical viability of the Cactus Project has not been demonstrated. The 2024 PEA is preliminary in nature and provides only an initial, high-level review of the Cactus Project's potential and design options; there is no certainty that the 2024 PEA will be realized. For further detail on the Cactus Project and the 2024 PEA, including applicable technical notes and cautionary statements, please refer to the Company's press release dated August 7, 2024 and the 2024 PEA Technical Report, both available on the Company's website at and under its issuer profile at View source version on CONTACT: For more information Alison Dwoskin, Director, Investor Relations 647-233-4348 [email protected] Ogilvie, President, CEO and Director 416-723-0458 [email protected] KEYWORD: NORTH AMERICA UNITED STATES AUSTRALIA/OCEANIA AFRICA CANADA NEVADA COLORADO IDAHO ARIZONA INDUSTRY KEYWORD: NATURAL RESOURCES OTHER NATURAL RESOURCES MINING/MINERALS SOURCE: Arizona Sonoran Copper Company Inc. Copyright Business Wire 2025. PUB: 06/02/2025 06:30 AM/DISC: 06/02/2025 06:29 AM
