09:04 AM EDT, 09/02/2025 (MT Newswires) -- Arizona Sonoran Copper Company ( ASCUF ) , an emerging US-based copper developer, on Tuesday said it bought 2,123 acres of private land adjacent to the Cactus project comprised of 2,043 acres from a consortium of related private corporate landowners and completed on Aug. 29 and an additional 80-acre parcel from a single private corporate landowner on June 27.

The company said the consortium land and the 80-acre parcel together are expected to provide the "additional acreage necessary to support the anticipated development and operations plan for the Cactus Project," including the solvent extraction/electrowinning plant infrastructure, leach pads and waste rock stockpiles. respectively.

"The acquisition of this land package consequently represents a major de-risking event for the Cactus Project, as well as providing additional real estate to potentially pursue development of the primary sulphide deposits and future exploration opportunities, within the previously held project properties," said Arizona Sonoran Chief Executive George Ogilvie.

Ogilvie said: "Additionally, the favorable structure, cost of capital, pre-payment rights and other principal terms of these land purchases, provide a financially manageable path forward for the Company and the Cactus Project through the remaining studies to project financing and an eventual final investment decision as early as Q4/2026.

"With the completion of these acquisitions, the overall average cost-per-acre of the Cactus Project private land package now stands at approximately US$23,000, quite favourable considering the extent of the contiguous acreage of private lands acquired adjacent to the developing Casa Grande industrial area, and which includes the Parks/Salyer and Cactus deposits. This well-timed execution of the opportunity to purchase a contiguous 2,123-acre land package from known, local private property owners, is clearly a positive step forward for the Cactus Project. We welcome the consortium vendors as new supportive shareholders of the Company and as key stakeholders in the Cactus Project."

Shares of the company closed down 1.1% to $2.68 on Friday on the Toronto Stock Exchange.