Gunnison Copper Corp (GCU) Financings
TSX: GCU · Copper, Zinc, Silver · Production stage
- Market cap$202.9M
- Share price$0.400
- 52-week range$0.275 – $0.700
- Shares outstanding507,159,085
- ExchangeTSX
- Websitegunnisoncopper.com
Gunnison Copper Corp. is a multi-asset pure-play copper developer and producer that controls the Cochise Mining District (the district), containing 12 known deposits within an 8 km economic radius, in the Southern Arizona Copper Belt. Its flagship asset, the Gunnison Copper Project, has a main pit Measured and Indicated Mineral Resource containing over 846 million tons with a total copper grade of 0.33% containing 5.19 billion pounds of copper (Measured Mineral Resource of 192 million tons at 0.37% containing 1.42 billion pounds of copper and Indicated Mineral Resource of 655 million tons at 0.31% containing 3.77 billion pounds of copper). The Strong & Harris satellite deposit, located approximately 1.9 miles from the Gunnison processing facilities, is also included in the mine plan and hosts an Inferred Mineral Resource of 76 million tons grading 0.49% total copper (0.32% CuOx) at a 07% cutoff, 0.56% zinc and 0.12 oz/ton silver, containing approximately 740 million pounds of copper, including 483 million pounds of oxide copper, as well as zinc (856 million pounds) and silver (9 million ounces). A preliminary economic assessment ('PEA') was completed in March 2026 for the Gunnison Project yielding robust economics including an NPV8% of $2 billion, IRR of 23%, and payback period of 3.9 years. It is being developed as a conventional operation with open pit mining, heap leach, and SX/EW refinery to produce finished copper cathode on-site with direct rail link. The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the conclusions reached in the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. In addition, Gunnison's Johnson Camp Asset, which is now in production, is fully funded by Nuton LLC, a Rio Tinto Venture, with a production capacity of up to 25 million lbs of finished copper cathode annually. Other significant deposits controlled by Gunnison in the district, with potential to be economic satellite feeder deposits for Gunnison Project infrastructure, include South Star, and eight other deposits.
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Gunnison Copper Corp financial statements
Key figures read from 42 of 42 financial statement filings, Nov 23, 2016 to Aug 12, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | US$20,613 | US$8,249 | US$6,113 | US$5,604 | US$20,854 |
| Short-term investments | US$140 | US$91 | US$76 | US$22 | US$0 |
| Total current assets | US$55,918* | US$15,689* | US$8,432* | US$7,929* | US$24,030* |
| Total current liabilities | US$100,299 | US$38,548 | US$4,481 | US$17,602 | US$5,430 |
| Working capital | (US$44,381) | (US$22,859) | US$3,951 | (US$9,673) | US$18,600 |
| Property, plant and equipment | US$245,777 | US$111,910 | US$104,902 | US$107,459 | US$123,919 |
| Total assets | US$314,492 | US$137,932 | US$116,408 | US$118,761 | US$151,260 |
| Debt | US$3,958 | US$14,447 | US$15,620 | US$15,405 | US$15,351 |
| Total liabilities | US$376,038 | US$159,834 | US$147,131 | US$127,060 | US$194,696 |
| Shareholders' equity | (US$61,546) | (US$21,902) | (US$30,723) | (US$8,299) | (US$43,436) |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Revenue | US$10,893 | — | (US$2,919) | (US$4,178) | — |
| Cost of sales | (US$10,360) | US$2,780 | US$8,363 | US$10,759 | — |
| General and administrative | — | US$1,626 | US$2,292 | US$2,905 | US$2,873 |
| Share-based compensation | US$1,119 | US$320 | US$510 | US$121 | US$855 |
| Impairments and write-downs | US$0 | US$38,828 | — | — | — |
| Net income (loss) | US$56,425 | (US$8,494) | US$28,959 | (US$34,879) | (US$61,005) |
Cash flow statement: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (US$37,919) | (US$7,648) | (US$10,657) | (US$13,660) | (US$4,667) |
| Investing cash flow | (US$105,682) | (US$30,384) | US$2,669 | (US$1,179) | (US$11,366) |
| Financing cash flow | US$155,847 | US$40,165 | US$8,490 | (US$401) | US$23,252 |
| Exploration spending (capitalized) | — | — | US$0 | (US$1,187) | (US$16,131) |
| Property, plant and equipment spending | (US$605) | — | — | — | — |
| Proceeds from share issues | — | — | — | US$0 | — |
| Change in cash | US$12,246 | US$2,133 | US$502 | (US$15,240) | US$7,219 |
| Cash at end of period | US$20,613 | US$8,249 | US$6,113 | US$5,604 | US$20,854 |
Gunnison Copper Corp financings
2 financings announced or closed by Gunnison Copper Corp, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2026-07-07 | Gunnison Copper Corp (GCU) | Convertible debenture | Closed, 1 tranche | — | $0.296 | Gunnison Copper Eliminates Convertible Debt Through Cash Settlement, Preventing the Issuance of 28.9 Million Common Shares |
| 2026-05-27 | Gunnison Copper Corp (GCU) | Private placement, bought deal | Closed, 1 tranche | $34.5M | $0.420 | Gunnison Copper Announces C$30 Million Bought Deal Public Offering |
Gunnison Copper Corp debt and credit facilities
Convertible debentures and notes, loans, credit facilities, bonds, gold loans and prepayments Gunnison Copper Corp has announced, read by Mining News Terminal. A debt reported in several releases is listed once, at its latest stage.
| Date | Debt | Lender | Amount | Terms |
|---|---|---|---|---|
| 2026-07-07 | Convertible debenture, repaid / settled | Greenstone Excelsior Holdings LP | — | — |
| 2025-12-01 | Credit facility, repaid / settled | Nebari | US$7.3M | 10.5%, matures 2026-09-30 |
| 2025-04-24 | Credit facility, closed / funded | Nebari Credit Agreement Amendment | US$6.25M | — |
| 2023-02-09 | Convertible debenture, closed / funded | — | US$3M | 10% |
| 2019-11-01 | Credit facility, closed / funded | Nebari Natural Resources Credit Fund | US$15M | 14.2% |