Copper is going to hit $15,000. Current copper price is still too low to incentivise new projects.
The major mines that our Great Grandfathers found have depleted the easy to mine surface copper. Grades are falling and costs to mine rising at a time ESG and water use will continue to scupper large new projects.
Great news for ROCK is that at both projects, the copper is visible at surface. Copperhead is not under cover and Copper Dome outcrops both east and west.
I spoke to David Price a couple of years ago at Proactive for about an hour. The majority of it regarding Copperhead and Copper Dome, which are markedly overlooked by the market in favour of Plateau. I understand why due to drilling activity.
The primary reason I invested in ROCK was the already drill proven nature of these copper assets.
The geophysics at Copperhead carry more confidence as unlike the image we got from Marengo (which was not drill tested and ultimately disappointed), we know the Copperhead system is mineralised.
Glencore operates Australia's largest Cu smelter 200km away. David stated Glencore is aware of Copperhead.
Beyond a certain point, it can be too dilutive for a junior to go it alone drilling out a large porphyry. ROCK will aim to accrete value and then see a larger partner coming in for some heavy lifting.
Very much looking forward to Copperhead drilling and geophysics at Copper Dome. Even the maiden drills at Copperhead in 1972 were exceptional.