The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
When your all bored of talking about free speech and racism on a investment chat forum
Sign up to the link , and read the mining report
Equador has a big section I did post snippets from it but it’s worth a read
https://latam-investor.com/wp-content/uploads/2022/08/LatAm-INVESTOR-Q3-2022.pdf
TSXV-listed Cornerstone Capital Resources (stock symbol “CGP”) was a first mover in Ecuador. It acquired the Cascabel copper-gold porphyry property in 2011, brought SolGold in as funding partner under a farm-in arrangement in 2012, and was project operator through to the discovery drill hole in February 2014, transferring operatorship over to SolGold in September 2014. The Alpala deposit on the Cascabel concession will become Ecuador’s largest mine, and one of the world’s most important copper producers, when it begins production in 2029. It also contains more gold resources than Ecuador’s largest current gold mine, Fruta del Norte.
Cornerstone retains a 15% direct stake in Cascabel carried (financed) by SolGold to completion of a bankable feasibility study and repayable out of Cornerstone’s share of dividends or earnings from a mine at Libor plus 2%, plus 6.9% of the shares in SolGold, for a combined project interest of 20.8%.
The recently completed Pre-Feasibility Study (PFS) shows: (1) an after- tax NPV (@ 8% discount rate) of US$2.9billion, 19.3% IRR and 4.7-year payback @ Base Case (Cu-$3.60/lb; Au-$1,700/oz; Ag-$19.9); (2) an initial capex of US$2.7billion for the initial block cave development, first process plant module and infrastructure; (3) average annual production of 467MM lbs copper equivalent (291MM lbs Cu, 358kozAuand1MMozAg)@anall- in sustaining cost of US$0.06/lb Cu; and (4) an initial 26 year project life @
25Mtpa, with the potential for a mine life of >50 years.
The project has already attracted investment from majors such as Newcrest and BHP Billiton, BHP having a 13.6% and Newcrest a 13.5% stake in SolGold (or~11.5% of Cascabel each) so Cornerstone’s strategic 20.8% interest makes it an attractive acquisition target says H. Brooke Macdonald, Cornerstone’s CEO:
LatAm INVESTOR
24 Q32022
“There are simply not enough copper projects in the development pipelines of major mining companies to meet the anticipated demand for electric vehicles and low-carbon electrical infrastructure by 2030-2050, and underinvestment by the majors in early stage copper exploration means to maintain their production profiles and market valuations they will need to buy reserves - by acquiring juniors like Cornerstone and SolGold - to replace reserve depletion, so we anticipate a frenzy of M&A activity for existing copper projects like Cascabel as well as companies willing to fund drilling in potentially large porphyry system
environments in good jurisdictions like Ecuador.”
Macdonald expects Cornerstone Capital Resources to be bought out within the next 12 months. At present the company’s market cap stands at around $119million with a share price hovering around CAD$3.19. Yet analysts believe the recent pre-feasibility study for Cascabel means Cornerstone is worth much more. A conservative estimate from David Davidson, the Senior Analyst, at Paradigm Capital, has a $6.50 target on the stock, which he rates as a speculative buy.
But they seem to drill damn quick compared to Solgold
July 11, 2022
Drilling Highlights:
TARQ4D – 0.32% copper equivalent over 218 metres from surface
TARQ10D – 0.18% copper equivalent over 72 metres from 72 metres down hole
Vancouver, British Columbia – Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) (the “Company” or “Luminex”) would like to provide an update on its Tarqui project, where BHP Group Limited (“BHP”) has completed its Phase 2 drill program that commenced in late 2021, pursuant to a July 2019 earn-in and joint venture agreement. BHP completed the current drill program in June 2022 and has received assays from seven of ten holes. Drilling at the project has now totaled 6,862 metres, over thirteen drill holes between the Phase 1 and Phase 2 programs.
BHP has formally notified Luminex that it will not be continuing with the earn-in at Tarqui and will begin the process of transitioning the operatorship back to Luminex, with expected completion in Q4 2022. Luminex will review all of the project data and work completed to date and evaluate next steps for the Tarqui project.
Found this article
The Japanese automaker targets sales of 3.5 million EVs and fuel cell vehicles globally by the end of this decade.
A separate US$70.4 billion will be allocated by 2030 to R&D as well as capital investment in electric, hybrid and fuel cell vehicles.
Toyota will also invest around 2 trillion yen in developing electric car batteries and ramp up battery production capacity to 280 gigawatt-hours by 2030.
We aren’t producing yet buddy you clown
Think I read average copper per electric car somewhere between 60-100 lb
Toyota want to invest some crazy amount and produce 2 million electric cars by 2030
Hello we will be producing then