---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-035637"
form_type: "8-K"
ticker: null
cik: "0001853021"
company_name: "Metals Acquisition Corp"
filed_at: "2023-03-22T23:59:59+00:00"
generated_at: "2026-06-17T21:41:14.184910+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Metals Acquisition Corp enters $75M silver stream, up to $75M copper stream with Osisko for CSA Mine financing

## Summary
- Silver Deposit of $75M (potentially +$15M at LBMA silver ≥$25.50/oz) for 100% of CSA Mine payable silver; ongoing 4% of market price.
- Copper Deposit of up to $75M, drawable at MAC's option, for 0%–4.875% of CSA Mine payable copper; ongoing 4% of LME price.
- Osisko commits to buy 1.5M New MAC shares at $10/share ($15M) under Silver Stream Subscription Agreement.
- Copper Stream includes equity subscription of up to 2.5M New MAC shares at $10/share ($25M), pro-rata to deposit drawn.
- Streams and equity are part of up to $1.1B CSA Mine acquisition financing; subject to completion of senior facilities, mezz, and business combination.

## SEC filing metadata
- accession: 0001104659-23-035637
- form_type: 8-K
- cik: 0001853021
- company_name: Metals Acquisition Corp
- filed_at: 2023-03-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1853021/000110465923035637/0001104659-23-035637-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1853021/000110465923035637/tm2310019d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-035637
- JSON: https://secwatch.observer/filing/0001104659-23-035637.json
- Plain text: https://secwatch.observer/filing/0001104659-23-035637.txt

## Key facts
- Debt Financings
  Metals Acquisition Corp incurred debt of $75,000,000 upfront cash deposit with Osisko Bermuda Limited.
  - Principal: $75,000,000 upfront cash deposit
  - Counterparty: Osisko Bermuda Limited
  - Event: incurrence
  source text: On March 20, 2023, Metals Acquisition Corp. (Australia) Pty Ltd (“MAC-Sub”), a wholly owned subsidiary of Metals Acquisition Corp (“MAC”), as a seller psa entity, MAC and Metals Acquisition Limited (“MAC Limited”) (which will merge with and into MAC and be the surviving entity (“New MAC”) following the Business Combination (defined below)), as seller, entered into a silver purchase agreement (the “Silver Stream”) with Osisko Bermuda Limited (the “Purchaser”), pursuant to which the Purchaser will advance to New MAC a $75,000,000 upfront cash deposit (the “Silver Deposit”) on account of future deliveries of refined silver by New MAC to the Purchaser referenced to silver production from the CSA Mine (as defined below).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1853021/000110465923035637/0001104659-23-035637-index.htm
- Material Agreements
  Metals Acquisition Corp entered into Silver Stream Subscription Agreement with Osisko Bermuda Limited valued at 1,500,000 New MAC Ordinary Shares at a purchase price of $10.00 per share and an aggregate price of (effective 2023-03-20).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Osisko Bermuda Limited
  - Value: 1,500,000 New MAC Ordinary Shares at a purchase price of $10.00 per share and an aggregate price of
  - Effective: 2023-03-20
  source text: On March 20, 2023, New MAC and MAC entered into a subscription agreement with Osisko Bermuda Limited (the “Subscriber”) (the “Silver Stream Subscription Agreement”) pursuant to which the Subscriber has committed to purchase 1,500,000 New MAC Ordinary Shares at a purchase price of $10.00 per share and an aggregate price of $15,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1853021/000110465923035637/0001104659-23-035637-index.htm
- Material Agreements
  Metals Acquisition Corp entered into Silver Stream with Osisko Bermuda Limited valued at $75,000,000 upfront cash deposit (effective 2023-03-20).
  - Action: entry
  - Counterparty: Osisko Bermuda Limited
  - Value: $75,000,000 upfront cash deposit
  - Effective: 2023-03-20
  source text: On March 20, 2023, Metals Acquisition Corp. (Australia) Pty Ltd (“MAC-Sub”), a wholly owned subsidiary of Metals Acquisition Corp (“MAC”), as a seller psa entity, MAC and Metals Acquisition Limited (“MAC Limited”) (which will merge with and into MAC and be the surviving entity (“New MAC”) following the Business Combination (defined below)), as seller, entered into a silver purchase agreement (the “Silver Stream”) with Osisko Bermuda Limited (the “Purchaser”), pursuant to which the Purchaser will advance to New MAC a $75,000,000 upfront cash deposit (the “Silver Deposit”) on account of future deliveries of refined silver by New MAC to the Purchaser referenced to silver production from the CSA Mine (as defined below).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1853021/000110465923035637/0001104659-23-035637-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.