/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
Libero Copper & Gold Corporation (TSXV:LBC) (OTCQB:LBCMF) (DE:29H) (" Libero Copper ") is pleased to announce that it has closed the second tranche of its previously announced non-brokered private placement (the " Offering ") by issuing 5,600,000 units (" Units ") at a price of $0.50 per Unit for gross proceeds of $2,800,000 . Together with the first tranche of the Offering (see news release dated December 2, 2021 ), Libero Copper has received total gross proceeds to date of $4,800,000 . The final tranche of $3,500,000 will close upon receipt of TSX Venture Exchange approval.
Anglo Asian Mining plc (" Anglo Asian "), an AIM listed gold, copper, and silver producer primarily focused in Azerbaijan , has committed to become the largest shareholder of Libero Copper , with the intention of acquiring a total of 12,600,000 Units and will hold 19.9% of the issued and outstanding common shares of Libero Copper . After the closing of this second tranche, Anglo Asian currently hold 5,600,000 Units or 9.9% of the issued and outstanding shares of Libero Copper .
Each Unit will be comprised of one common share (each, a " Unit Share ") and one half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant will entitle the holder thereof to purchase one common share (each, a " Warrant Share ") at a price of C$0.75 until December 22, 2023 . If during the exercise period of the Warrants, but after the resale restrictions on the Common Shares have expired, the closing price of the Common Shares is at a price equal to or greater than $1.00 for a period of 10 consecutive trading days, Libero Copper will have the right to accelerate the expiry date of the Warrants by giving notice, via a new release, to the holders of the Warrants that the Warrants will expire on the date that is 30 days after the issuance of said news release.
The net proceeds will be used for drilling the Mocoa porphyry copper project and for working capital and general corporate purposes. Securities issued in the Offering are subject to a statutory hold period expiring on April 23, 2022 . Closing of the final tranche of the Offering is subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.
Ian Harris , Libero Copper President & CEO comments, "Our focus has always been investing our exploration dollars into projects that have the potential to become future copper mines and having a mine builder mentality to advance and de-risk our projects as quickly as possible. We are elated to now have Anglo Asian Mining as a partner. An experienced partner that has built and is operating existing mines. I have personally visited their mines and can attest to the efficiency of the operations, the technical knowledge of their team, and their ability to nimbly adapt. We look forward to tapping into that know-how to incorporate it into our plans and strategy as we continue to advance three significant projects, each with the potential to become a future copper mine."
Reza Vaziri , Anglo Asian CEO comments, "While the opportunity to tap into a company with a robust portfolio of three company building sized projects and an impressive team from the executives to the on-the-ground level is almost unprecedented, the strategic alliance between Anglo Asian and Libero Copper is only the start of a proactive long-term partnership. Our goal is to quickly advance the portfolio leveraging a combined team that includes robust experience from discovery through every stage of project development including construction, start-up, and operation."
Stephen Westhead , Anglo Asian Vice-President, comments, " Libero Copper has an extremely exciting portfolio of assets for exploration and development, particularly the Mocoa project. While our focus is on long-term growth, we believe the commitment by Libero Copper to establish strong license to operate has been undervalued and will in the very short-term bear significant fruits as the upcoming exploration and development program advances off a solid foundation. Technically, the Mocoa project already has a promising copper-molybdenum resource with significant room for expansion and has the potential to become a key asset for the mining sector's contribution to the sustainable energy transition."
About Libero Copper & Gold
Libero Copper is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes Big Red (a new grassroots discovery) in the Golden Triangle, Canada ; Esperanza in San Juan, Argentina ; and Mocoa in Putumayo, Colombia . These assets are advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.
About Anglo Asian Mining
Anglo Asian is an AIM listed gold, copper, and silver producer with a broad portfolio of production and exploration assets in Azerbaijan . Anglo Asian has recently announced a transaction with the Government of Azerbaijan which grants it three additional concessions with a combined area of 882 square kilometers which include the Garadagh porphyry copper deposit with a Soviet classified resource of over 300,000 tonnes of copper. The transaction is subject to ratification by the parliament of Azerbaijan.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the Company not receiving the necessary regulatory approvals in respect of the Offering, market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) (" Libero Copper ") is pleased to announce that it has closed the final tranche of its previously announced non-brokered private placement (the " Offering ") by issuing 7,000,000 units (" Units ") at a price of $0.50 per Unit for gross proceeds of $3,500,000 . Together with the first tranche of the Offering (see news release dated December 2, 2021 ), and second tranche of the offering (see news release dated December 22, 2021 ) Libero Copper has received total gross proceeds of $8,300,000 .
Anglo Asian Mining plc (" Anglo Asian "), an AIM listed gold, copper, and silver producer primarily focused in Azerbaijan , has become the largest shareholder of Libero Copper acquiring a total of 12,600,000 Units and holds 19.8% of the issued and outstanding common shares of Libero Copper on a non-fully diluted basis.
Each Unit comprises of one common share (each, a " Unit Share ") and one half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant issued in this final tranche entitles the holder thereof to purchase one common share (each, a " Warrant Share ") at a price of C$0.75 until January 26, 2024 . If during the exercise period of the Warrants, but after the resale restrictions on the Common Shares have expired, the closing price of the Common Shares is at a price equal to or greater than $1.00 for a period of 10 consecutive trading days, Libero Copper will have the right to accelerate the expiry date of the Warrants by giving written noticeto the holders of the Warrants that the Warrants will expire on the date that is 30 days after the issuance of said notice.
The net proceeds will be used for drilling the Mocoa porphyry copper project and for working capital and general corporate purposes. Securities issued in the Offering are subject to a statutory hold period expiring on May 26, 2022 .
Appointment of Director
Anglo Asian has the right to appoint a director to the Board of Libero and has chosen Michael Sununu . Michael Sununu has a B.Sc. from the Massachusetts Institute of Technology and an MBA from The Kellogg School at Northwestern University majoring in finance and accounting. He brings a wealth of financial and directorial experience to the team. Michael has worked for JP Morgan's Oil and Mining group and his experience there included debt restructuring and the Initial Public Offering for Consol Energy. He has managed trust funds throughout his successful career, including Hudson Seven LLC, where he was a founder. His work has included developing supply, demand and pricing models for several weather influenced commodities. Currently, Michael is a founder and manager of Sununu Enterprises LLC and Sununu Holdings LLC, which specialise in planning and project development for major corporations and medium-sized firms, as well as providing strategic advisory services. Michael also presently serves as a Board Member for Purpose Energy Inc. and as a member of the Investment Committee for the New Hampshire Historical Society.
Ian Harris , Libero Copper President & CEO comments, "We are excited with the increased commitment of Anglo Asian Mining to Libero Copper , and welcome Michael Sununu as our newest director, who brings a lot of experience to the table specifically assisting in the management of the potential rapid growth of the company. Also, considering the recent advancements at Mocoa, the partnership with a seasoned mine builder and operator will immediately assist in the development plans of our projects based on a shared expertise."
About Libero Copper & Gold
Libero Copper is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes Big Red (a new grassroots discovery) in the Golden Triangle, Canada ; Esperanza in San Juan, Argentina ; and Mocoa in Putumayo, Colombia . These assets are advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.
About Anglo Asian Mining
Anglo Asian is an AIM listed gold, copper, and silver producer with a broad portfolio of production and exploration assets in Azerbaijan . Anglo Asian has recently announced a transaction with the Government of Azerbaijan which grants it three additional concessions with a combined area of 882 square kilometers which include the Garadagh porphyry copper deposit with a Soviet classified resource of over 300,000 tonnes of copper. The transaction is subject to ratification by the parliament of Azerbaijan.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the Company not receiving the necessary regulatory approvals in respect of the Offering, market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
Anglo Asian Mining plc (" Anglo Asian "), an AIM listed gold, copper and silver producer primarily focused in Azerbaijan (AIM: AAZ) and Libero Copper & Gold Corporation (" Libero "), a copper exploration company headquartered at Suite 905 1111 West Hastings Street, Vancouver BC V6E 2J3 (TSXV: LBC) announce today that Anglo Asian has increased its stake in Libero to approximately 27.07% in the issued and outstanding common shares of Libero on a fully diluted basis by subscribing for 7,000,000 units (each, a " Unit ") of Libero at a purchase price of $0.50 per Unit for gross proceeds of $3,500,000 to Libero. Each unit comprises of one common share of Libero (a " Common Share ") and one half common share purchase warrant of Libero with an exercise price of $0.75 (a " Warrant " and all of the foregoing being, the " Subscription ").
Anglo Asian owned 5,600,000 common shares of the Issuer and 2,800,000 common share purchase warrants of the Issuer prior to the Subscription. Following the Subscription, it is now the beneficial owner of 12,600,000 Common Shares and 6,300,000 Warrants, which together represent approximately 27.07% of the issued and outstanding common shares of the Issuer on a fully diluted basis.
Anglo Asian acquired the Units for investment purposes and it may, depending on market and other conditions, increase or decrease its beneficial ownership of Libero's common shares or warrants, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
Libero and Anglo Asian entered into a subscription agreement (the " Subscription Agreement ") in connection with the Subscription whereby Anglo Asian will receive certain rights once Anglo Asian acquires beneficial ownership of at least 9.9% of the issued and outstanding common shares of Libero (on a non-diluted basis). Such rights include the right to nominate one director to the board of directors of Libero, in accordance with the terms of the Subscription Agreement.
This news release is being issued to comply with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report regarding these transactions has been filed on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com under Libero's issuer profile and may be obtained directly from Anglo Asian upon request at the telephone number below. Anglo Asian's head office is located at 3 rd Floor, Tower 2, Hyatt Regency Business Centre, 8 Izmir St, Baku 1065, the Republic of Azerbaijan .
Cautionary Statement Regarding Forward Looking Statements This news release contains forward-looking statements and forward-looking information (together, " forward-looking statements ") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although Anglo Asian believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Anglo Asian disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to announce signing of an exploration drilling contract with Kluane Colombia, S.A.S., a subsidiary of Kluane Drilling Ltd. (Kluane), for a minimum of 5,000 metres of drilling at the Mocoa Porphyry Copper-Molybdenum Deposit in Colombia. A KD-1000 drill (a proprietary build of Kluane) is currently being mobilized. The KD-1000 is modular and highly portable and can reach depths over 1,200 metres.
"We are very excited about partnering with Kluane to begin exploration drilling at Mocoa. Kluane have a proven track record of professional operation in Colombia , operating their own modular and portable drills. These drills will dramatically reduce the footprint of our exploration activities. However, more importantly in the selection process was that Kluane is highly aligned with Libero Copper's high environmental and social standards, including maximizing opportunities for employment, and contracting locally," comments Ian Harris , President & CEO. "Mobilization of materials and supplies to site has already begun with the drill expected to be in Mocoa by end of the month. This first 5,000 metre phase of drilling will focus on the expansion of the existing resource. We consider local engagement to be a core component to the development of Mocoa, and therefore we will be investing strongly in the hiring and training of locals to support an expanding drill campaign."
Q4 Webinar
On Thursday, January 27 , Libero Copper will hold its quarterly webinar at 2:00 pm Eastern Time . President & CEO, Ian Harris will recap Q4 2021 deliverables and outline 2022 exploration plans. The update will be followed by a Q&A session. To register, follow https://www.redcloudfs.com/rcwebinar-lbc-2/
About the Mocoa Porphyry Copper-Molybdenum Deposit
The Mocoa deposit is located in the department of Putumayo, 10 kilometres from the town of Mocoa. It was discovered in 1973 when the United Nations (UN) and the Colombian government conducted a regional stream geochemical survey. Between 1978 and 1983, an exploration program was carried out that consisted of geological mapping, surface sampling, ground geophysics (IP, magnetics), 31 diamond drill holes totaling 18,321 metres, and metallurgical test work cumulating in a positive pre-feasibility study. B2Gold subsequently executed diamond drill programs in 2008 and 2012.
A pit constrained inferred resource at Mocoa contains 636 million tonnes of 0.45% CuEq* at 0.25% cut-off containing 4.6 billion pounds of copper and 511 million pounds of molybdenum. Mocoa is open in both directions along strike and at depth. Additional porphyry surface targets have been identified and are drill ready.
The Mocoa deposit is situated in the Eastern Cordillera of Colombia , a 30-kilometre-wide tectonic belt underlain by volcano-sedimentary, sedimentary and intrusive rocks that range in age from Triassic-Jurassic to Quaternary, and by remnants of Paleozoic metasediments and metamorphic rocks of Precambrian age. This belt hosts several other porphyry-copper deposits, such as Mirador (438 million tonnes measured and indicated at 0.61% Cu and 235 million tonnes inferred at 0.52% Cu) 1 , San Carlos (600 million tonnes inferred at 0.59% Cu) 2 , Panantza (463 million tonnes inferred at 0.66% Cu) 2 , and Solaris' Waritza, located in Ecuador .
Copper-molybdenum mineralization is associated with a dacite porphyry intrusion of the Middle Jurassic age that are emplaced into andesitic and dacitic volcanics. The Mocoa porphyry system exhibits a classical zonal pattern of hydrothermal alteration and mineralization, with a deeper central core of potassic alteration overlain by sericitization and surrounded by propylitization. Mineralization consists of disseminated chalcopyrite, molybdenite, and local bornite associated with multiphase veins, stockwork, and hydrothermal breccias. The Mocoa deposit is roughly cylindrical, with a 600 metre diameter, high-grade copper-molybdenum mineralization continues to depths in excess of 1,000 metres.
* No adjustments were made for recovery as the project is an early-stage project and metallurgical data to allow for estimation of recoveries is not yet available. Libero Copper defines copper equivalent (CuEq) calculation for reporting purposes only. In-pit resource contained within shell generated using US$3/lb Cu and US$10/lb Mo. CuEq%=Cu%+Mo% × 3.33.
2 Technical Report: "Preliminary Assessment Report Panantza & San Carlos Copper Project" dated effective October 30, 2007
About Libero Copper & Gold
Libero Copper is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes Big Red (a new grassroots discovery) and Big Bulk in the Golden Triangle, Canada ; Esperanza in San Juan, Argentina ; and Mocoa in Putumayo, Colombia . These assets are advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.
Thomas Mumford , Ph.D., P.Geo, a qualified person under National Instrument 43-101, has reviewed the technical information contained in this news release on behalf of Libero Copper .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to report assay results for the five hole, 1,743 metre drill program at the Big Bulk porphyry copper project in British Columbia's Golden Triangle. Results suggest the presence of a large mineralizing system, with new drill results confirming a greater than two kilometre strike length.
Big Bulk Highlights
Libero Copper's first drill program on Big Bulk tested a new geological model derived from recent mapping by the British Columbia Geological Survey which indicates the target is a much larger calc-alkaline porphyry system with similarities to KSM. The targeted intrusive phase (Phase 2 – quartz-chalcopyrite veined hornblende diorite) of the Big Bulk porphyry was intersected in multiple holes.
"The Big Bulk drill program successfully tested the new interpretation of the Big Bulk porphyry, with multiple drill holes intersecting mineralized zones where we predicted the east-west striking mineralized Phase 2 diorite to occur," comments Ian Harris , President & CEO. "The mineralogy, grades and widths of the mineralized zones, the surrounding alteration, and the drilled strike length suggest the potential for the property to host a sizeable porphyry deposit. The drilling will be invaluable in updating our geological model, specifically late faulting in the area that complicated geology and we believe limited intersection lengths."
The Big Bulk porphyry copper-gold project is a multiphase late Triassic intrusion hosted in Hazelton and Stuhini volcanic and sedimentary rocks analogous to the district which hosts the KSM and Brucejack deposits. Big Bulk is located 20 kilometres north of Kitsault, BC, and borders Dolly Varden Silver's Big Bulk project and Hecla Mining's Kinskuch project. The project was initially explored by Teck and Canadian Empire from 2001 to 2003. Drilling in 2003 intercepted 21 metres of 1.35% CuEq** (0.86% Cu, 0.64 g/t Au) and 53 metres of 0.46% CuEq** (0.31% Cu, 0.2 g/t Au) which was not followed up on. New interpretations based on recent geologic mapping by the British Columbia Geological Survey indicate that the target is a much larger calc-alkaline porphyry system tilted on its side with higher grade mineralization in a discreet mineralized phase that was not targeted by historic drilling.
Drill Hole
From (m)
To (m)
Interval* (m)
Cu (%)
Ag (g/t)
Au (g/t)
CuEq** (%)
BB-21-01
139.00
182.44
37.44
0.30
0.59
0.15
0.42
including
140.00
159.00
13.00
0.39
0.79
0.20
0.55
and
171.50
181.00
9.50
0.43
0.79
0.20
0.59
BB-21-02
11.50
29.50
16.00
0.12
0.62
0.06
0.17
BB-21-03
203.00
230.00
27.00
0.10
0.49
0.09
0.17
BB-21-04
118.00
141.00
23.00
0.13
0.48
0.25
0.33
BB-21-05
171.50
273.50
97.00
0.19
0.97
0.18
0.34
including
171.50
194.00
22.50
0.25
1.67
0.25
0.46
and
228.50
273.50
40.00
0.22
0.99
0.2
0.38
including
256.00
273.50
17.50
0.28
1.29
0.23
0.47
Table 1: Drill hole highlights from the five-hole 2021 program on Big Bulk. *True width of mineralized zone is unknown. **Copper equivalent grades (CuEq%) are for comparative purposes only. Calculations are uncut and recovery is assumed to be 100% as insufficient metallurgical data is available. Metal price used to calculate are in USD: Cu: $3.50 /lb, Au: $1,850 /oz, Ag: $25 /oz.
Exploration work during the 2021 field season consisted of an initial detailed mapping program which helped substantiate the recent geological model proposed by the British Columbia Geological Survey (BCGS) that describes the spatial distribution and timing of the multiphase Big Bulk porphyry. The mapping was used to refine the proposed drill targets and determine areas suitable for construction of drill pads. The initial mapping confirmed wide zones of high-grade copper mineralization (primarily occurring as chalcopyrite) at surface, as well as a historic showing hosting visible gold.
The drill program was designed to test the model of an east-west striking tabular body that partially outcrops and dips moderately to the south. Drilling in 2021 tested the strike length of the Phase 2 diorite over 2 kilometres (Figure 1). The drilling tested the location of the Phase 2 intrusion in 5 separate large fault blocks that are bounded by late north-south oriented structures.
Drilling successfully intersected moderate to strong mineralization in drill holes 1 and 5, where the mineralized intervals exhibited many of the characteristics of the Phase 2 diorite. Alteration in hole 1 occurs as pervasive propylitic alteration, mineralization is subtle, largely consisting of very fine-grained chalcopyrite. Mineralization in hole 5 occurs as blebby vein pyrite and local coarse chalcopyrite that is associated with strong phyllic and argillic alteration overprinting weal propylitic and local potassic alteration. Holes 2 and 3 exhibit short zones of anomalous copper mineralization, as well as wide zones of propylitic alteration, locally exhibiting an argillic overprint.
Drill Hole
From (m)
To (m)
Interval* (m)
Cu (%)
Ag (g/t)
Au (g/t)
CuEq** (%)
BB03-01
8.84
21.03
12.19
0.68
n/a
0.41
1.00
BB03-02
11.89
33.22
21.33
0.86
n/a
0.64
1.35
and
142.95
195.99
53.04
0.31
n/a
0.20
0.46
BB03-03
5.79
33.22
27.43
0.64
n/a
0.42
0.96
BB03-05
2.74
14.94
12.20
0.14
n/a
0.26
0.34
BB03-06
88.09
100.28
12.19
0.16
n/a
0.26
0.36
BB03-07
11.89
21.03
9.14
0.45
n/a
0.18
0.59
and
85.04
91.14
6.10
0.47
n/a
0.22
0.64
BB-08-05
3.05
93.01
89.96
0.15
0.29
0.07
0.21
BB-08-06
34.76
149.15
114.39
0.21
0.49
0.10
0.29
BB-08-07
132.80
304.80
172.00
0.10
1.57
0.11
0.20
BB-08-10
9.11
111.50
102.39
0.13
0.60
0.09
0.21
BB-08-11
16.46
168.83
152.37
0.17
0.76
0.06
0.22
BB-08-12
3.05
41.16
38.11
0.18
0.72
0.02
0.20
BB-08-16
194.42
252.34
57.92
0.18
0.43
0.07
0.24
AGA-09-01
67.00
121.00
54.00
0.31
n/a
0.05
0.35
and
427.00
437.00
10.00
0.14
n/a
4.00
3.22
AGA-09-02
181.00
659.00
478.00
0.14
n/a
0.04
0.17
including
617.00
659.00
42.00
0.27
n/a
0.05
0.31
Table 2: Select historical drill results on the Big Bulk project – note that some of the holes were drilled on portions of the Big Bulk porphyry intrusion that are now held by Dolly Varden Silver (see Figure 1).
Quality Assurance
The sampling program was undertaken under the direction of Dr. Thomas Mumford , P.Geo. All sample assay results have been monitored through a quality control / quality assurance (QA/QC) program including the insertion of blind standards, coarse blanks, and duplicate samples. Monitoring of the QA/QC program has determined that the analytical results are of acceptable quality. Assay samples are securely transported to ALS Global's sample preparation facilities in Terrace, BC and Langley, BC . Sample pulps are analyzed in North Vancouver, British Columbia for gold by fire assay using a 30-gram charge with atomic absorption spectroscopy (AAS) finish. Samples which exceed 9 g/t gold trigger a 30-gram fire assay with a gravimetric finish. Copper and silver contents are determined by four-acid digestion with ICP-AES finish. ALS Global is an independent laboratory. Libero is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data.
About Libero Copper & Gold
Libero Copper is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes Big Red (a new grassroots discovery) and Big Bulk in the Golden Triangle, Canada ; Esperanza in San Juan, Argentina ; and Mocoa in Putumayo, Colombia . These assets are advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.
Thomas Mumford , Ph.D., P.Geo, a qualified person under National Instrument 43-101, has reviewed the technical information contained in this news release on behalf of Libero Copper .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) (" Libero Copper ") is pleased to announce that due to strong investor demand, it has increased the non-brokered private placement announced on November 8, 2021 (the " Offering ") for the sale of up to 14,000,000 units (the " Units ") at a price of $0.50 per Unit for gross proceeds of up to $7,000,000 . Each Unit will be comprised of one common share (each, a " Unit Share ") and one half of one common share purchase warrant (each whole warrant, a " Warrant ").
Each Warrant will entitle the holder thereof to purchase one common share (each, a " Warrant Share ") at a price of C$0.75 until December 1, 2023 . If during the exercise period of the Warrants, but after the resale restrictions on the Common Shares have expired, the closing price of the Common Shares is at a price equal to or greater than $1.00 for a period of 10 consecutive trading days, Libero Copper will have the right to accelerate the expiry date of the Warrants by giving notice, via a new release, to the holders of the Warrants that the Warrants will expire on the date that is 30 days after the issuance of said news release.
The first tranche of 4,000,000 units (the " Units ") at a price of $0.50 per Unit for gross proceeds of $2,000,000 was closed on December 1 , 2021. Eventus Capital Corp. acted as a finder in connection with a portion of the Offering.
The net proceeds will be used for drilling the Mocoa porphyry copper project and for working capital and general corporate purposes. A finder's fee of $50,100 cash and 100,200 Broker Warrants was paid on a portion of the Offering. Each Broker Warrant entitles the holder thereof to purchase one common share at a price of $0.50 until December 1, 2023 . Securities issued in the Offering are subject to a statutory hold period expiring on April 1, 2022 .
The balance of the Offering is scheduled to close in December 2021 , and is subject to certain conditions including, but not limited to, the receipt of the approval of the TSX Venture Exchange.
About Libero Copper & Gold
Libero Copper is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes Big Red (a new grassroots discovery) and Big Bulk in the Golden Triangle, Canada ; Esperanza in San Juan, Argentina ; and Mocoa in Putumayo, Colombia . These assets are advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the Company not receiving the necessary regulatory approvals in respect of the Offering, market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
The shareholders of Lundin Mining Corporation (TSX: LUN) together with BHP Group Limited and Filo Corp. (TSX: FIL) have agreed to the terms of a Plan of Arrangement resulting in the combination of the two companies. Each share of Filo Corp. will be exchanged for 2.3578 shares of Lundin Mining or C$33.00 cash subject to proration of a max cash of C$2,767 million and maximum share consideration of 92.1 million Lundin Mining shares.
In expectation of the arrangement closing, Filo Corp. will be removed from the S&P/TSX Composite Index prior to the open of trading on January 15, 2025 . The shares outstanding of Lundin Mining will be increased at the same time to reflect the issuance of shares.
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The shareholders of Lundin Mining Corporation (TSX: LUN) together with BHP Group Limited and Filo Corp. (TSX: FIL) have agreed to the terms of a Plan of Arrangement resulting in the combination of the two companies. Each share of Filo Corp. will be exchanged for 2.3578 shares of Lundin Mining or C$33.00 cash subject to proration of a max cash of C$2,767 million and maximum share consideration of 92.1 million Lundin Mining shares.
In expectation of the arrangement closing, Filo Corp. will be removed from the S&P/TSX Composite Index prior to the open of trading on January 15, 2025 . The shares outstanding of Lundin Mining will be increased at the same time to reflect the issuance of shares.
For more information about S&P Dow Jones Indices, please visit www.spdji.com
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500 ® and the Dow Jones Industrial Average ® . More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has become home to over 1,000,000 indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com .
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Copper was trading on the COMEX at under US$4 per pound at the beginning of 2024, but by May 21, the red metal's price had surged to a record high of US$5.11 per pound.
Price momentum at the start of the year was owed to several factors, including increasing demand from energy transition sectors, bottlenecks at Chinese refiners and near-zero copper treatment charges.
The price was volatile through the second and third quarters, slipping back below US$4 per pound before soaring above US$4.50 at the end of Q3. Read on for more on how copper performed in 2024, from prices to supply and demand.
Copper price in Q4
Copper started the fourth quarter of the year on a strong note. On October 2, the metal reached its quarterly high of US$4.60 before starting a month-long slide to US$4.31 on October 31.
Volatility was the story at the start of November. Copper soared to US$4.45 on November 5 before dropping to US$4.22 on November 6, then spiked to US$4.41 on November 7; finally, it crashed to US$4.05 on November 15.
While copper did see a couple of rallies as the year ended, it only briefly broke through resistance of US$4.20 from December 9 to 11 before settling toward the US$4 mark at the end of the month.
As of December 23, the copper price was sitting at US$4.02.
Copper concentrate market to stay tight
In an October report, Fastmarkets predicts that the concentrate market will remain tight in 2025.
This tightness will continue to impact refiner treatment charges. Though they are expected to rebound to around US$20 to US$30 per metric ton (MT), they will still be short of the US$80 mark reached in 2023.
The situation has become more challenging as new operations, particularly in China, expand capacity in 2024. Fastmarkets anticipates no change in the situation in 2025, as new smelters are set to come online in China, Indonesia and India. The additional capacity will see more refiners fighting for the available supply.
The research firm says several other factors are contributing to copper concentrate shortages, including the loss of material from First Quantum Minerals' (TSX:FM,NYSE:FM) Cobre Panama mine after it was ordered shut down in November 2023. Other miners that have cut their production forecasts are also adding to supply woes.
For example, Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK) revised its copper production guidance when it released its third quarter results on October 23. In its release, Teck indicates that the updated range now stands at 420,000 to 455,000 MT, down from the 435,000 to 500,000 MT estimated at the start of the year.
The company said the reduction was due to challenges with labor availability and problems with autonomous systems in its new haul trucks at its Highland Valley mine in BC, Canada.
China’s economy dragging on copper
A significant headwind for copper at the end of 2024 has been the continued challenges posed by China’s faltering economy. Although the country has introduced stimulus measures, they have made little difference.
The most recent stimulus announcement came on December 24, when the Chinese government announced it would issue US$411 billion worth of special treasury bonds in 2025. This package would be the highest on record, and would represent an increase over the US$137 billion issued in the past year.
The move follows President Xi Jinping’s keynote address at the country’s annual economic policy meeting on December 11 and 12. Xi said at the time that the economy was stable, and that the government would be working to boost consumption through looser monetary policy and more active fiscal policy. Few details were given on how the country would achieve its goals, and the US$411 billion debt injection could be the first sign of that policy.
In addition, in September, the Chinese government announced measures to increase credit, support cities in purchasing unsold homes and restructure debt. These efforts have failed to turn around the world’s second largest economy.
China is the world’s largest copper consumer, and any shift in the strength of the nation's economy will have implications for the price trajectory of base metal.
Copper supply was in focus in Q1 as First Quantum provided an update on its Cobre Panama mine.
The mine was forced to close at the end of 2023 after the Panamanian Supreme Court walked back a company-friendly deal initially approved in October 2023.
At the beginning of 2024, First Quantum pursued several avenues to resolve the issue and reopen the mine, including arbitration. It also waited for the results of Panama’s May election in hopes of more mining-friendly leadership.
The second quarter was dominated by news of output curtailments at Chinese smelting operations.
The cuts came as lower production levels from copper miners began to stress treatment charges at refiners as they competed for the limited availability of copper concentrate.
Speaking to the Investing News Network at the time, Joe Mazumdar, editor of Exploration Insights, said that 50 percent of the world’s smelting capacity is in China. For that reason, the end price is dictated by treatment and refining charges, which nearly turned negative due to the lack of available concentrate.
In turn, this pushed the price of copper prices higher at major exchanges.
“So there’s the cathode price. That’s stated in the LME, and Shanghai and the COMEX in the states. But if the market is tight in any of those regions locally, you will see a cathode premium … over the price of the copper,” he said. “People are willing to pay more to incentivize people that have copper inventory to release it into the market."
Copper supply and demand both saw growth during Q3.
The International Copper Study Group reported in an October 21 release that mined production of copper had increased by 2 percent year-on-year to 14.86 million MT during the first eight months of 2024.
Much was owed to 3 percent growth from Chile, with increases at BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) Escondida mine, as well as the Collahausi mine, which is a joint venture between Anglo American (LSE:AAL,OTCQX:AAUKF), Glencore (LSE:GLEN,OTC Pink:GLCNF) and Mitsui (OTC Pink:MITSF,TSE:8031).
Output from the Democratic Republic of Congo increased 11 percent, while Indonesia's production rose 22 percent.
At the same time, demand increased slightly by 2.5 percent. Much of the additional demand came from 2.7 percent growth in Asian markets, which includes a 0.5 percent increase in Chinese refined copper imports.
Investor takeaway
The copper market has been tight all year, with new demand accelerating beyond new mine supply.
This demand growth is expected to continue as the world transitions from fossil fuels to renewable technologies that require more copper, like wind and solar. However, copper demand is still constrained by weakness in the Chinese economy, particularly in its housing sector, which is an important driver of global demand for the metal.
Ultimately, in the longer term, copper supply will be lacking from new projects and expanded production to meet demand. The base metal is expected enter a supply deficit over the next few years.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Copper Price Forecast: Top Trends for Copper in 2025
Copper prices saw impressive gains in 2024, even breaking the US$5 per pound mark in May. However, the red metal's gains didn't last, and by the end of the year copper had retreated back to the US$4 range.
The start of 2025 could be eventful, with Donald Trump returning to the Oval Office, a new stimulus package coming into effect in China and a continued push for greener technologies around the world.
What will these factors mean for copper prices in the new year? Will they rise, or can investors expect the base metal to remain rangebound? Here's a look at what experts see coming for the important commodity.0
How will Trump's presidency impact US copper projects?
Trump will be sworn in for his second term as US president on January 20.
During his campaign, he made bold promises that could shake up the American resource sector, pushing a "drill, baby, drill" mantra and committing to increasing oil production in the country.
When it comes to copper, Trump's proposed changes to environmental regulations could have key implications. While the Biden administration has sought to toughen these rules, Trump will look to relax them.
In an email to the Investing News Network (INN), Eleni Joannides, Wood Mackenzie's research director for copper, said changes to environmental regulations are likely to benefit the mining sector overall.
“The former president has already pledged to overturn a 20 year moratorium on mining in Northern Minnesota. This pro-mining approach means more mines could be permitted and put into production,” she said.
One project that was being planned before the Biden administration restricted access to federal lands in the Superior National Forest belongs to Twin Metals Minnesota, a subsidiary of Antofagasta (LSE:ANTO,OTC Pink:ANFGF). The company has been working to advance its underground copper, nickel, cobalt and platinum-metals group project since 2006, and has submitted plans to state and federal regulatory agencies.
Another copper-focused project that may benefit from the incoming Trump administration is Northern Dynasty Minerals' (TSX:NDM,NYSEAMERICAN:NAK) controversial Pebble project in Alaska.
The company has been exploring the Bristol Bay region since acquiring the property in 2001, but the US Army Corps of Engineers denied approval in 2020; the Environmental Protection Agency did the same in 2021.
Northern Dynasty has been fighting these decisions at both the state and federal level. It reached the Supreme Court in January 2024, but was denied a hearing until the dispute is examined at the state level.
On December 20, Alaska Governor Mike Dunleavy added his support for the project when he petitioned the incoming president to issue an Alaska-specific executive order on his first day in office. The order would effectively reverse decisions made by the Biden administration, including the permitting of the Pebble project.
In addition to Pebble, projects like Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) Resolution, and Hudbay Minerals' (TSX:HBM,NYSE:HBM) Copper World, both of which are in Arizona, may benefit from Trump’s plan to reduce permitting times on projects worth over US$1 billion.
Currently, large-scale operations like these can take up to 20 years to move from exploration to production in the US. Copper is considered a critical mineral for the energy transition, and is increasingly becoming a security concern as the US is largely dependent on China for its supply of copper.
Copper price volatility expected under Trump tariff turmoil
As tensions continue to grow between the west and eastern nations like China and Russia, it may not take much to threaten markets for critical materials, including copper.
Trump has already promised to impose a 60 percent tariff on all goods coming from China.
A tariff on copper imports could upend the president-elect's plans for the resource sector. It would increase the prices of copper imports and disrupt the overall economy.
“The risk is that the president-elect’s threatened tariffs, including 60 percent on China and 20 percent on all other nations, could derail global economic growth, lead to higher inflation and, with that, tighten monetary policy and also lead to a change in trade flows. Copper will suffer if demand takes a hit," Joannides said.
"In addition, there is likely to be continued volatility in prices,” she added.
In its recent analysis of Trump’s policies, ING sees an overall negative impact on global metals demand.
The firm believes that many of his plans, including tariffs, will cause the US Federal Reserve take a longer-term approach to reducing interest rates, which could affect investment in large-scale copper projects.
S&P Global expressed a similar view after Trump's win. Immediately after the election, copper prices sank 4 percent to fall under US$4.30, with the firm suggesting that is likely just the beginning. The organization notes that while the market may have already priced in Trump’s tariffs, a larger trade war could impact prices even further.
Economic recovery in China could further boost copper prices
China's faltering economy has been a major headwind for copper over the past several years.
The country's housing market accounts for roughly 30 percent of global demand for the red metal, meaning that any shifts could have significant implications for the copper market.
The sector has been struggling for the past few years as the country deals with economic issues, including fallout from the COVID-19 pandemic, which caused disruptions to supply chains and a spike in unemployment.
Ultimately, economic factors struck China's real estate sector, an important driver of the country’s gross domestic product; this caused the collapse of the nation's top two developers, China Evergrande Group and Country Garden.
So far, the government’s attempts to stimulate the economy and jumpstart the beleaguered real estate sector have largely failed. In September, it announced measures aimed at property buyers, such as reducing interest rates for existing mortgages by 50 points and cutting the minimum downpayment requirement for homes to 15 percent.
Other changes introduced at the time include more help from the People’s Bank of China, which will provide a lending facility for state-owned firms to acquire unsold flats for affordable housing.
China followed this up with an announcement in November that it will provide additional support for local governments by increasing their debt-raising capacity by 6 trillion yuan over the next six years.
While these measures may not be felt for some time, kickstarting the Asian nation's real estate sector could be a boon for copper producers and investors.
“If the Chinese real estate market were to post a recovery, this would see domestic demand for copper tick higher and could lead to a tighter supply and demand balance overall, assuming all other things remain unchanged. This would underpin even higher prices than we are currently projecting,” said Joannides.
Copper industry needs more investment dollars
With copper demand projected to grow long term, supply-side concerns are rising. According to Joannides, there is already recognition that copper exploration has been underinvested over the past few years.
“We are seeing signs this could change. Much of the growth over the last five years has come from brownfield expansions rather than greenfield/new discoveries," she explained to INN.
"Technology will likely help increase the chance of discovery, and broadly I would say that policymakers are now more supportive of mineral exploration as the push to secure critical raw materials supply has moved up the agenda."
Joannides pointed to greenfield projects already in the pipeline, including Capstone Copper’s (TSX:CS,OTC Pink:CSCCF) Santo Domingo in Chile, Southern Copper’s (NYSE:SCCO) Tia Maria in Peru and Teck Resources' (TSX:TECK.A,TECK.B,NYSE:TECK) Zarfanal in Peru.
There's also Northmet, a Teck and Glencore (LSE:GLEN,OTC Pink:GLCNF) joint venture in Minnesota.
Rising copper prices could also increase the flow of money from the major companies into the junior space, where most of the exploration is currently occurring.
“Copper has become the standout strategic preference for the major mining companies. The risk-adjusted cost of developing organic copper assets is higher than the cost of acquiring them,” Joannides said.
This kind of acquisition activity could help reduce the development time of assets compared to companies starting exploration from scratch.
Investor takeaway
While copper supply and demand conditions are expected to remain tight in 2025, competing forces are at play.
One of the biggest factors is Trump’s return to the White House. If the president-elect takes action as quickly as he has promised, investors could soon gain insight on the long-term implications of his policies.
In terms of China, it will take time to get the property sector back to where it was before the pandemic; however, there may be sparks early in the year as new measures start to work their way through the market.
During 2025 it may be even more prudent than usual for investors to do their due diligence on copper and keep an eye on the forces that may affect the market.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold shares of Northern Dynasty Minerals.
Editorial Disclosure: Dore Copper is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Lobo Tiggre: Copper is My Highest-Confidence Trade for 2025 — Here's Why
Lobo Tiggre, CEO of IndependentSpeculator.com, gave the Investing News Network his updated thoughts on the US economy, as well as his outlook for gold, silver and uranium in 2025.
However, he said his highest-confidence trade for next year is copper.
"I think that it's easier to see — and highly likely to see — copper moving higher next year," Tiggre explained.
That said, he's not quite ready to pull the trigger on copper stock purchases.
"I'm not rushing out to buy yet, because I think even in the little time we have left this year we're going to see more bad economic news, and Dr. Copper with a PhD in economics always goes down with that sort of news. So I'm looking to that as a buying opportunity — I'm looking to maximize my upside by taking advantage of that."
Watch the interview above for more from Tiggre on copper, plus gold, silver and uranium. You can also click here to view the Investing News Network's New Orleans Investment Conference playlist on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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Gianni Kovacevic: 3 Copper Stocks for Speculators, Watch These Metals Under Trump
Investor and author Gianni Kovacevic shared his thoughts on copper market dynamics, saying that while the long-term trend is up, speculators can create significant shorter-term prices moves.
He also mentioned three copper companies he's interested in right now: CopperNico Metals (TSX:COPR,OTCQB:CPPMF), Entree Resources (TSX:ETG,OTCQB:ERLFF) and Horizon Copper (TSXV:HCU,OTCQX:HNCUF).
In addition to copper, Kovacevic spoke about the growing opportunity he sees in lithium, highlighting how major miners like Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) are increasing their exposure to this important battery metal.
"We are going to have a supply shortage. Not in the distant future — in the next 18 to 36 months it'll be a front-page story, and it will be dovetailed with ... oil and gas. And with that comes the oil and gas investor," he said.
Explaining his view, Kovacevic said oil and gas companies are becoming interested in direct lithium extraction.
"(The oil and gas investors) are the ones that are going to really take the speculation in lithium to the next level once again. It'll be 'lithium mania 3.0' coming to a screen near you," he told the Investing News Network.
Watch the interview above for more from Kovacevic on copper and lithium, as well as Donald Trump's second term.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Mining giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP) introduced its Xplor 2025 cohort on Monday (January 6), choosing eight out of hundreds of applicants worldwide.
Under Xplor 2025’s terms, each of the companies is entitled to receive an equity-free grant of up to US$500,000 and access to a network of BHP and external industry experts to build out and accelerate their exploration concepts.
The selected companies and the countries they focus on are as follows:
“As the energy transition gathers pace it becomes more urgent that we can identify, develop and commercialize the discoveries required to support the transition,” BHP’s Group Exploration Officer Tim O’Connor said. “The 2025 Xplor cohort are the sorts of explorers that naturally embrace innovation in bringing promising new projects to life.”
BHP opened applications for the 2025 Xplor program last September, once again “seeking visionary teams focused on uncovering new sources of critical minerals crucial for a sustainable future.”
The eight successful applicants are focused on critical metals needed for electrification, with many targeting copper.
Now in its third edition, Xplor helps accelerate the work of promising mineral companies.
The program is often set on a six-month period, with each of the companies collaborating with BHP Xplor to expedite their geological concepts and position the projects for potential further investment and partnership with BHP.
“We were delighted with the strength of applications — the quality of exploration projects was extremely high … Successful applicants demonstrated strong leadership, a commitment to innovation in their exploration programs, and a willingness to push industry boundaries in applying new concepts, data and testing techniques,” BHP Xplor Head Marley Palin said.
According to BHP, this edition holds the most geographically diverse cohort yet. Xplor 2024 had teams focused on Botswana, Australia and Kazakhstan, while Xplor 2023 included companies working in Africa, Australia, Canada, Mongolia, Norway and Finland.
Xplor 2025 also has the highest number of successful applicants at eight; Xplor 2023 included seven companies and 2024 had six.
This month, the 2025 cohort is set to gather in Perth for Bootcamp Week. BHP said the bootcamp will teach them key strategy, operational and technical frameworks that will set them up for success over the next six months.
Filo Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) (" Filo " or the " Company ") is pleased to announce that the deadline for registered shareholders (the " Registered Shareholders ") of the issued and outstanding common shares of Filo (the " Filo Shares ") and for holders of stock options of Filo (the " Optionholders ") to make elections in respect of the consideration receivable pursuant to the Arrangement (as defined below) is 5:00 P.M. (Toronto Time) on January 9, 2025 (the " Election Deadline "). PDF Version
The letter of transmittal and election form (the " Letter of Transmittal ") outlines the necessary documentation and information required to be sent to the depositary for the Arrangement, Computershare Investor Services Inc. (the " Depositary "), by each Registered Shareholder and Optionholder in order to receive the consideration to which they are entitled under the Arrangement, and make an election with respect to the form of consideration they wish to receive. For complete instructions, please refer to the Letter of Transmittal previously mailed to Registered Shareholders and Optionholders on December 12, 2024 and also available under Filo's profile on SEDAR+ at www.sedarplus.ca and on the Company's corporate website at http://filocorp.com/investors/corporate-filings/ .
All elections and deposits made under a Letter of Transmittal are irrevocable and may not be withdrawn. However, an election made under a Letter of Transmittal on or prior to the Election Deadline may be changed by depositing a new Letter of Transmittal with the Depositary on or prior to the Election Deadline. Should the Arrangement not proceed for any reason, the deposited certificates and/or DRS advices representing Filo Shares (if applicable) and other relevant documents shall be returned.
The Letter of Transmittal is for use by Registered Shareholders and Optionholders only. Beneficial (nonregistered) shareholders whose Filo Shares are registered in the name of a broker, investment bank, bank, trust company, custodian, nominee or other intermediary (each, an " Intermediary ") should contact that Intermediary for instructions and assistance in making an election.
Shareholders who hold Filo Shares directly or indirectly through the central securities depository in Sweden run by Euroclear Sweden AB (" Euroclear Holders ") do not need to submit a Letter of Transmittal. For complete instructions for Euroclear Holders, please refer to the press release of the Company dated December 11, 2024 .
Filo is also pleased to announce that it has obtained all key regulatory approvals required to complete the previously announced arrangement involving, among others, the Company, BHP Investments Canada Inc. (" BHP "), a wholly-owned subsidiary of BHP Group Limited, and Lundin Mining Corporation (TSX: LUN) (OMX: LUMI) (" Lundin Mining ", and together with BHP, the " Purchaser Parties "), pursuant to which the Purchaser Parties will, among other things, acquire all of the Filo Shares not already owned by the Purchaser Parties and their respective affiliates (the " Arrangement ").
Subject to the satisfaction or waiver of the remaining conditions to implementing the Arrangement, it is expected that the Arrangement will close on or about January 15, 2025 .
Following completion of the Arrangement, the Filo Shares will be delisted from the Toronto Stock Exchange and the Nasdaq First North Growth Market. An application will also be made for the Company to cease to be a reporting issuer in the applicable jurisdictions following completion of the Arrangement.
About Filo Corp.
Filo is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in San Juan Province, Argentina and adjacent Region III, Chile . The Company's shares are listed on the Toronto Stock Exchange and Nasdaq First North Growth Market under the trading symbol "FIL", and on the OTCQX under the symbol "FLMMF".
Additional Information
The Company's certified adviser on the Nasdaq First North Growth Market is Bergs Securities AB, +46 8 506 51703, rutger.ahlerup@bergssecurities.se .
The information contained in this news release was accurate at the time of dissemination, but may be superseded by subsequent news release(s).
The information was submitted for publication by the contact persons below on January 6, 2025 at 1:00 am EST .
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This press release may contain certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking information") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, including, without limitation, the consummation and timing of the Arrangement; the satisfaction of the conditions precedent to the Arrangement; the expected timing of closing of the Arrangement; and the expected timing of delisting from stock exchanges, may be forward-looking information. Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved.
Forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Important factors that could cause actual results to differ materially from the Company's expectations include failure to satisfy or waive the closing conditions to the Arrangement; changes in laws, regulations and government practices; government regulation of mining operations; environmental risks; and other risks and uncertainties disclosed in the Company's periodic filings with Canadian securities regulators and in other Company reports and documents filed with applicable securities regulatory authorities from time to time, including the Company's Annual Information Form available under the Company's profile at www.sedarplus.ca . The Company's forward-looking information reflects the beliefs, opinions, and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking information or beliefs, opinions, projections, or other factors, should they change, except as required by law.
Cygnus Metals and Doré Copper Mining said on Wednesday (January 1) that they have completed their merger.
The combined entity will be a critical minerals explorer and developer with two core assets in Québec, Canada.
Cygnus acquired all of the issued and outstanding common shares of Doré on Tuesday (December 31) through a Canadian statutory plan of arrangement, finalizing the deal. Cygnus shares are listed on the ASX under the symbol CY5, and are expected to start trading on the TSXV under the symbol CYG on or about Friday (January 3).
The company has also applied to list on the OTCQB under the ticker symbol CYGGF.
The merger of equals between Cygnus and Doré was announced this past October, with the companies emphasizing at the time that the deal would create value for shareholders on both sides. Under the agreement, each former Doré shareholder will receive 1.8297 Cygnus shares for each share they held before the transaction was finalised.
"By combining the proven exploration and management skills of the Cygnus team with the high-grade resource and immense upside at the Chibougamau Copper-Gold Project, we have the potential to unlock substantial value," Cygnus Executive Chair David Southam said at the time, adding that plans for "aggressive exploration" were in the works.
The new company's two main assets are the Chibougamau copper-gold project and the James Bay lithium project.
Chibougamau currently has a measured and indicated resource of 3.6 million metric tons at 3 percent copper equivalent, and an inferred resource of 7.2 million metric tons at 3.8 percent copper equivalent.
James Bay's Pontax project holds a resource of 10.1 million metric tons at 1.04 percent lithium oxide.
Doré brought the Chibougamau asset to the table, and in Wednesday's release former President and CEO Ernest Mast said the Cygnus team has the ability to maximize the value of the project.
“This merger will provide the funding, additional expertise and the strategy aimed at generating superior shareholder returns with an exciting exploration program at Chibougamau,” he noted.
Southam will now act as executive chair of the new company, while Mast will hold the position of president and managing director in Canada. The board will also have two non-executive directors from each of the merged companies.
Cygnus said that results from a pre-Christmas drill program at Chibougamau are expected to be released early this quarter. Following on from that, the company will begin a drilling and geophysics program at the site.
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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