Teck joins Centerra as strategic investor in Metal Energy
Metal Energy Corp. [MERG-TSXV, MEEEF-OTCQB] said Teck Resources Ltd. (TECK.B-TSX, TECK.A-TSX, TECK-NYSE) will make a strategic investment in Metal Energy and become a 9.9% shareholder, joining Centerra Gold Inc. [CG-TSX, CAGDF-OTC], which also holds a 9.9% strategic interest.
On Friday, Metal Energy shares jumped 15.6% or $0.10 to 74 cents. The shares trade in a 52-week range of 74 cents and $0.015.
Metal Energy is a critical minerals exploration property focused on copper and gold assets in Canada. The company controls NIV, a fully-permitted and drill-ready copper-gold-molybdenum project located in British Columbia’s Toodoggone District, a region known for significant porphyry deposits. Its portfolio includes the Highland Valley Project (copper-molybdenum-silver-gold) in B.C. and Manibridge (nickel-copper-cobalt-PGE) project in Manitoba.
Teck and Centerra are each expected to subscribe for 4.44 million shares of the total (i) 8.88 million common shares to be issued on a premium flow-through basis at a price of 73 cents per flow-through share. In connection with the closing of the offering, the company will enter into an investor rights agreement with Teck, substantially on a par with an investor rights agreement which will be entered into with Centerra, allowing for certain top-up and information rights and will require funds from Teck to be allocated to fund exploration at Metal Energy’s NIV property.
Closing of the offering, which was announced on November 27, 2025, is expected to occur on December 16, 2025, subject to the satisfaction of customary closing conditions.
Commenting on the announcement, Metal Energy said: “We are pleased to welcome Teck as our second strategic investor in Metal Energy. Having one major mining company already in our register provides meaningful validation, adding a second reinforces that confidence. We look forward to having Centerra and Teck for a joint technical advisory committee and believe Teck’s long track record in base metals in British Columbia is an excellent complement to Centerra’s focus on gold exploration in the region. It’s worth underscoring how rare it is to have two major mining companies invest in an undrilled asset. Their participation reflects both the quality of the targets and the exceptional work of [Metal Energy CEO] Charlie Greig and [Technical Advisor] Alex Walcott in advancing this opportunity.’’
The 12,500-hectare NIV Property lies approximately 32 kilometres south of Centerra’s Kemess mine complex. The project’s two claim blocks, NIV (1,048 hectares) and West NIV (11,500 hectares) occupy the same structural and lithological corridor that hosts multiple copper-gold deposits, including those of TDG Gold Corp. [TDG-TSXV], Amarc Resources Ltd. [AHR-TSXV, AXREF-OTCQB] and Centerra. Nearby, Northwest Copper Corp.’s [NWST-TSXV] East NIV discovery (0.56% copper equivalent over 81.6 metres) underscores the fertility of the broader system, Metal Energy has said.
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