Power Ore is pleased to announce that it has entered into an agreement to acquire a 100 percent interest in the Opemiska copper mine complex from Explorateurs-Innovateurs de Quebec, a privately owned company.
Power Ore (TSX.V: PORE) is pleased to announce that it has entered into an agreement to acquire a 100 percent interest in the Opemiska copper mine complex from Explorateurs-Innovateurs de Quebec, a privately owned company.
As quoted in the press release:
“We are excited to announce this transformative acquisition as we see it having excellent value for our shareholders. This is a great opportunity for all stakeholders in that the Opemiska Copper Complex has the potential to be fast tracked given its jurisdiction, infrastructure, location and a host of other advantages. Another key point for this acquisition is Opemiska’s database, which is a proverbial gold mine of data which we will utilize to determine the potential for an open pit mining scenario in what was originally a high grade underground mine. Opemiska is a storied mine as it was Falconbridge’s main copper producer for many years. We have been looking for exposure to copper and other metals that we believe will benefit from the demand in metals needed for electric vehicles, renewable power and global electrification in general. We are bullish on copper fundamentals driven by increasing demand from traditional uses, as well as the increasing demand from electric vehicles and renewable energy technology like solar and wind. Additionally, having a presence in the Chibougamau region, historically renowned for its mineral wealth, as well as being in Quebec, opens up strategic opportunities for Power Ore,” said Stephen Stewart, Power Ore CEO.