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Stock Markets May 27, 2026 08:43 AM

Quilla Resources Considers Toronto Listing as Chapi Mine Restarts in Peru

Copper junior lines up advisers for a possible IPO after restarting operations and planning expansion at Chapi

By Avery Klein

Quilla Resources Inc. is in discussions with advisers about a potential initial public offering in Toronto as it advances restart and exploration work at the Chapi copper mine in southern Peru. Led by veteran Peruvian mining executive Victor Gobitz, the company is targeting an IPO next year while arranging a capital raise to support ramp-up and further expansion plans that could require substantial additional investment.

Quilla Resources Considers Toronto Listing as Chapi Mine Restarts in Peru

Key Points

  • Quilla Resources is consulting advisers about a potential Toronto IPO planned for next year while arranging a pre-IPO capital raise - sectors impacted: mining, capital markets.
  • The company is restarting the Chapi mine with ramp-up that began in February and expects full capacity in the fourth quarter, targeting 30,000 metric tons of annual output with $200 million to $300 million in required investment - sectors impacted: copper production, energy transition supply chains.
  • Exploration is being advanced on acreage near a major Freeport-McMoRan Inc. operation to assess whether a larger deposit underlies current operations - sectors impacted: mining exploration, regional Peruvian mining activity.

Overview

Quilla Resources Inc., a copper-focused junior, is consulting with financial advisers about a possible share listing in Toronto as it evaluates growth options tied to operations in southern Peru.

Leadership and listing preference

The company is led by Victor Gobitz, a Peruvian mining executive with experience running a mine previously owned by BHP Group and Glencore Plc. Gobitz said Quilla is considering an initial public offering next year, noting a preference for a Canadian listing because of the local mining investor base. "In Toronto there is an ecosystem specialized in mining," he said, adding that if the company continues to expand it could seek a listing in New York in subsequent years.

Operational strategy

Quilla's pitch to investors centers on expanding an existing operation rather than developing a brand new project. That approach is intended to enable faster, lower-cost growth amid industry headwinds around bringing new supply to market for the energy transition and data center demand, according to the company. The team is also tracking other opportunities within Peru.

Chapi restart and exploration plans

The immediate focus is the restart of the Chapi mine. The operation began a ramp-up in February and is on track to reach full capacity in the fourth quarter. Quilla is simultaneously advancing exploration across its broader land package adjacent to a major Freeport-McMoRan Inc. mine to evaluate whether a larger deposit exists beneath the current workings.

Capital needs and production targets

Quilla is arranging a new capital raise ahead of the planned IPO to fund the restart and near-term expansion. Gobitz has set a target to raise Chapi's annual output to 30,000 metric tons. Achieving that production level is estimated to require an investment between $200 million and $300 million. He noted that fully developing the deposit's longer-term potential could necessitate a new owner with deeper financial resources.

Next steps

The company is weighing timing for a listing in Toronto and preparing for a potential IPO next year while advancing capital raising and exploration work on its Peruvian land package.

Note: This article reports on the company's stated plans and timelines as provided by management.

Risks

  • Financing risk: Reaching the 30,000 metric ton annual output target depends on securing $200 million to $300 million of investment and may require a new owner with greater financial resources - impacts capital markets and mining sector.
  • Operational and ramp-up risk: Chapi only began ramping up in February and is projected to hit full capacity in the fourth quarter, creating execution risk tied to timing and throughput - impacts copper supply and company production forecasts.
  • Exploration uncertainty: The potential for a larger deposit beneath the current operation is being assessed, but outcomes are uncertain until exploration results are confirmed - impacts exploration-driven valuation and regional mining prospects.

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