American West Metals (ASX:AW1) and trading services provider Ocean Partners have completed a $2 million placement and a binding offtake agreement, giving Ocean Partners a 9.4% stake and rights to 100% of future copper, silver, and gold production from the company's Storm copper project in Canada, according to a Thursday filing with the Australian bourse.
Ocean Partners will also provide up to 80% of initial project capital via debt financing, subject to a bankable feasibility study, the filing said.
Processing and optimization work is underway, the filing added.
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