08:30 AM EST, 01/06/2025 (MT Newswires) -- Arizona Sonoran Copper ( ASCUF ) said Monday that it completed a buyback of 1% point of the net smelter royalty on the Bronco Creek Exploration (BCE) area in Arizona for US$500,000.

The buyback reduces the royalty to 0.5% from 1.5%. The company said the royalty applies to the BCE parcel which comprises a portion of the Parks/Salyer deposit on the Cactus project in Arizona.

"The finance team is now acting on a previously identified program to leverage the copper price on future copper production and deliver copper price and production upside back to shareholders through efficient capital allocation," said Nick Nikolakakis, Arizona Sonoran's CFO and vice president of finance. "Our models have demonstrated this royalty buyback reflects good potential upside value to our shareholders as we advance the Cactus project."

The company's share price fell 2.7% last Friday to $1.45 on the TSX.