- Business
- Supernova Metals Corp. is a publicly traded exploration company focused on acquiring and advancing natural resource opportunities worldwide, including rare earth elements and offshore energy projects; its core assets comprise the TT rare earth claims in Labrador, Canada, as well as an indirect interest in Block 2712A located in the Orange Basin offshore Namibia through investments in Westoil Ltd., which controls a significant stake in the block. Supernova Metals operates primarily in the energy and resource sectors, targeting North American mineral exploration and emerging global petroleum provinces, with geographic focus encompassing Canada and Namibia; the company maintains offices in Vancouver, British Columbia, Canada, where it was incorporated around 2011, and trades on the Canadian Securities Exchange under the ticker SUPR. In recent developments, Supernova announced in May 2025 a non-binding letter of intent to acquire an additional stake in Westoil Limited, potentially increasing its interest to 48.5%, alongside a $7.0 million brokered equity financing to fund expansion in offshore Namibia; the company executed a share exchange agreement for Oranam Energy Limited to bolster its position toward nearly 34% net interest in the block, with plans for independent technical reports, new seismic acquisition in Q4 2025, and drilling in late 2026 or 2027; further, Supernova completed a fundamental change leading to its name change to Oregen Energy Corp. in August 2025, reflecting a strategic pivot toward oil exploration, and continues evaluating additional acquisitions in the Orange Basin and surrounding areas.