On March 24, 2023, Western Copper and Gold Corporation announced a strategic equity investment from Mitsubishi Materials Corporation to support Western's Casino Project in Yukon. Mitsubishi Materials will acquire shares representing about 5.0% of Western's existing shares at C$2.63 per share. Depending on Rio Tinto Canada Inc.'s decision to exercise its pre-existing right, Mitsubishi Materials might receive 8,091,390 Shares for C$21.3 million, while Rio Tinto might get 878,809 Shares for C$2.3 million. Western remains the Casino Project's sole owner, with the new funds allocated for its advancement and specified studies. An investor rights agreement will be set between the companies. This allows Mitsubishi Materials to appoint members to the Casino Project Technical and Sustainability Committee, rights on future equity issuances, and a proportionate share of minerals from the Casino Project, among other rights and restrictions.