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21 Jul 2026, 11:45 UTC · 5h ago
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Freeport-McMoRan has increased the 2026 JOY District exploration budget by $5 million, bringing the total to $20 million. — Increased funding from a major mining player like Freeport signals strong confidence in the project's potential and reduces financial risk for Amarc.
+0.60The 2026 exploration program is fully funded by Freeport through the AuRORA Minerals Ltd joint venture. — Full funding by a partner eliminates the need for Amarc to dilute shareholders through equity raises to fund these specific activities.
+0.50Three drill rigs are currently active, focusing on the high-grade AuRORA Porphyry deposit and the TWINS Gold-Copper Discovery. — Active drilling provides a clear catalyst for near-term results that could significantly re-rate the asset value.
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The company announced an increase in exploration funding for the JOY District and is managing programs funded by a major partner.
Freeport-McMoRan is aggressively increasing its investment and interest in the JOY District to unlock Tier-1 potential.
Boliden is maintaining its participation and funding exploration in the DUKE District joint venture.
[mutual] Amarc and Boliden have entered into a 60:40 joint venture for the DUKE District.
[mutual] Amarc and Freeport-McMoRan are joint venture partners in the JOY Copper-Gold District via AuRORA Minerals Ltd.
[a_to_b] Amarc acts as the primary contractor managing exploration programs for the joint venture with Freeport.
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