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by Mike Caswell

Pecoy Copper Corp.'s acquisition of its namesake property in Peru is being challenged in the Supreme Court of British Columbia, with a shareholder of the entity that owned the project seeking a court-ordered valuation related to the deal. The shareholder, China Copper Mineral Resources Co. Ltd., claims that it was offered an amount that equated to a "distressed and illiquid valuation." The valuation failed to account for "very promising results" on the property, China Copper says.

The allegations are contained in a petition filed at the Vancouver courthouse on Friday, April 24. The case arises from Pecoy's purchase of the 9,975-hectare Pecoy copper-gold-molybdenum-silver project in the Arequipa region of Peru. Pecoy acquired the project when it listed on the TSX Venture Exchange on Sept. 4, 2025, and has since begun a 40,000-metre drill program.

The problem, as set out in the petition, relates to Pecoy's buyout of the property holding company, Pembrook Copper Corp., in September, 2025. Among the shareholders of Pembrook was China Copper, which claims that it was offered $1.1-million for its shares. (China Capital says that it holds 13.22 million shares in Pembrook Copper. It is not clear from the petition how many shares Pembrook Copper had outstanding as of the acquisition date, but a financial statement from June 30, 2025, lists 164.2 million basic and diluted for the period.)

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