China has copper flying like a FANG stock
The metal’s rebound from four-year lows in March mirrors the rally in that other gravity-defying asset class, the FANG-powered U.S. stock market.
The metal’s rebound from four-year lows in March mirrors the rally in that other gravity-defying asset class, the FANG-powered U.S. stock market.
Dr. Copper is clearly predicting an economic recovery but, in the meantime, gold is a useful prescription to boost mined wealth.
A 152,000-tonne-per-day open-pit mine at Josemaria would deliver an average of 136,000 tonnes of copper, 231,000 oz. of gold annually over a 19-year mine life.
With rising prices, a favourable supply-demand outlook and few new mines in development, investors are paying close attention to copper.
CEO Paul Rollinson downplayed reports about the company eyeing a London listing and selling its business in the Americas.
Company expects to produce about 2.5 million gold equivalent ounces annually from 2020–2029.
To earn this stake, company spent approximately C$3 million on exploration at the site.
Intercepts in Lawyers project include 14.2 metres of 4.15 g/t gold and 61.23 g/t silver (4.92 g/t gold-equivalent) from 13 metres.
Company reported a new quarterly production record of 3,092 tonnes of vanadium pentoxide (V2O5) in Q3 2020, a 5% increase over Q3 2019.
The miner is in the process of relocating 25 chinchillas, while construction of the mine camp is undergoing.