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# Centerra and Teck Top Up Their Stakes in a Junior Copper Explorer
- URL: https://www.pennystocks.news/merg-centerra-and-teck-top-up-their-stakes-in-a-junior-coppe/
- Published: 2026-08-22T13:49:58.000Z
- Updated: 2026-08-22T13:49:58.000Z
- Description: Two of Canada's larger mining names held the line on their 9.9% positions in Metal Energy. The proceeds are modest — the commitment is harder to ignore.
- Author: PennyStocksNews Team
- Tags: canada, ticker-merg

Centerra Gold and Teck Resources each held a **9.9% stake in Metal Energy Corp.** Then the company issued new shares. Both chose to buy enough to stay exactly where they were.

Metal Energy Corp. TSXV: MERG 

The mechanism is a top-up right — a provision written into each company's investor agreement that lets them subscribe for new shares whenever Metal Energy issues more, keeping their ownership percentage from shrinking. Together, the two companies took **550,000 shares at C$0.89 each**, putting roughly **C$490,000** into the junior's treasury, the company said in an August 21 announcement. The price was set by the terms of the existing agreements. No warrants were attached and no finder's fees were paid.

Shares closed 4.76% higher at $0.8800 on Thursday, on dollar volume of about $44,000.

For a holder watching from the outside, the dollars matter less than the decision. Centerra and Teck are not passive names on a cap table: they have formal rights baked into their agreements, and on Thursday both chose to use them. The release gives two different accounts of where the money goes — one paragraph says general working capital, while the "About" section says the proceeds are directed entirely toward drilling at the NIV project. The company did not reconcile the two.

NIV is Metal Energy's flagship property, a copper-gold project in British Columbia's Toodoggone District where a **6,000-metre drill program** got underway in June — the first time anyone has drilled the ground. The property sits about **32 km south** of Centerra's own Kemess mine complex, in geology the company says mirrors what hosts the Kemess deposits to the north.

The new shares carry a hold period of four months and one day. The issuance still requires final approval from the TSX Venture Exchange.