Douglas Eickmeier's questions to Trigon Metals (PNTZF) leadership • Q2 2025
Question
Asked for clarity on the timing and range of the proposed $30M-$50M sale, the use of proceeds, and details about the buyer (Horizon) and ongoing royalties. In a follow-up, he questioned the strategic rationale for selling the mine versus raising capital to expand it, expressing concern that the sale abandons a clear production growth vision for riskier exploration.
Answer
The sale price range will be clarified later in the week and is related to payment timing. Proceeds would be received after a shareholder vote, and the board will consider dividends and funding exploration. The buyer, Horizon, is a private equity group, and the deal is well-advanced. The decision to sell was driven by the need to avoid significant shareholder dilution from raising capital at a low share price, which the market had not rewarded despite operational progress. A partnership was deemed less valuable for a public company.