Horizon Copper
The business, the turning points, and the decisions behind them.
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Sections to complete:02 · 05
01 / WHAT IT BUILT
What the company did
Horizon Copper was a Vancouver-based copper royalty and streaming company that held non-operating interests in high-quality copper assets. Created in August 2022 when Royalty North Partners completed a reverse takeover with Sandstorm Gold, its portfolio included a 30% interest in the Hod Maden copper-gold project in Turkey, exposure to Rio Tinto's Oyu Tolgoi mine in Mongolia via Entrée Resources, and a 1.66% net profits interest in the Antamina mine in Peru.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Company founded
Royalty North Partners completes its reverse takeover with Sandstorm Gold and changes its name to Horizon Copper, buying a 30% interest in the Hod Maden copper-gold project in Turkey.
- Acquisition
Royal Gold completes its acquisition of Horizon Copper at C$2.00 per share on October 20, 2025; shareholders approved the plan of arrangement and the company delists from the TSX Venture Exchange.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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