Western Copper names Sandeep Singh as CEO

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Western Copper & Gold Corp.’s [WRN-TSX, NYSE American] has named former Osisko Gold Royalties Ltd. (OR-TSX, OR-NYSE) CEO Sandeep Singh as the company’s new Chief Executive Officer, effective immediately. Singh said he is joining the company at a pivotal time in its history.

In a press release, Western Copper said Singh led the successful turnaround of Osisko Gold Royalties. Singh is also a former investment banker focusing on the North American metals and mining sector with BMO Capital Markets, and Dundee Securities.  He co-founded Maxit Capital, a leading independent M&A firm.

Singh will now work closely with Dr. Paul West-Sells, who will continue in the role of President in connection with the succession process. Further, the company said Kenneth Williamson has retired from his role as Director and Interim Chairman. Director Dr. Bill Williams has taken on the Interim Chairman role as the company searches for a replacement.

Western Copper’s key asset is the Casino copper-gold-molybdenum deposit in the Canadian Yukon. It ranks as one of the largest copper-gold projects in Canada. It is estimated to host measured and indicated resources 14.5 million ounces of gold and 7.6 billion pounds of copper. On top of that is an inferred resource of 6.6 million ounces of gold and 3.3 billion pounds of copper.

A preliminary economic assessment (PEA) which was announced in June, 2021, envisages a large open pit operation, a concentrator to recover copper, gold, silver and molybdenum, and a solid waste facility to store mine waste rock and mill tailings.

The project will also feature a heap leach facility to recover gold, silver, and copper from oxide ore as well as 130 kilometres of access road and an on-site power generation facility.

“I see tremendous value in Casino as one of the very few viable assets in the copper-gold development space,’’ Singh said. “Casino strikes a unique balance of important scale, attractive commodity mix, low jurisdictional risk, and quick payback through the higher-grade core of the deposit,’’ he said.

“The credible data underpinning a thorough feasibility study, and remaining upside from additional resources or optimizations to the project provide tangible upside potential. I am excited to be joining the Western Copper and Gold team at a pivotal time for the company.’’

In addition, the company has announced a $3 million private placement with Singh for the purchase of 2.22 million common shares priced at $1.35 per share.

Details of the financing and the appointment of Singh as CEO came after the close of trading on February 22, 2024, when Western Copper shares closed at $1.27. The shares trade in a 52-week range of $2.66 and $1.27.

Western Copper’s key shareholders include Rio Tinto Plc [RIO-NYSE] with 9.7% and Japanese industrial giant Mitsubishi Materials Corp. with 4.8%.

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