Where are the New Cu Opportunities

By Tshepo Magagane

Copper – the ore is simply not there and it is going to get worse. And everyone is going “we want PFS projects” – who is going to define them? Why it is an opportunity greater than AI or the shovels that go into it (ie Nvidia) – prospective tenements are there; they lack capital [I have explained why CopperCos are trading at a P/NPV ie share prices are inputting higher LT copper prices and even those price levels would not be sufficient to bring in SAmerican low grades – so if you can define projects that work in current pricing – you are sitting on a money printing machine]!

I have highlighted it from conversations on the ground

1. Small smelter owner – “I cant take cash from investors as it is pointless given that there is no additional ore out there”

2. Scouts from end-users spending 12-18mths in the Copperbelt looking for new sources of ore

We need to derisk these new projects and define them.

It requires capital…there is simply no way around this…

3. Top copper supplier Chile just slashed its output projections for the coming decade, adopting a more conservative methodology that may see analysts tweak their own global supply models.

The top-producing nation now expects output to be 5.54 million metric tons by 2034, according to a study released Wednesday by state copper commission Cochilco. That’s only slightly higher than last year’s production — and is less than the agency’s projection of 6.43 million tons made a year ago.

4. Friedland;

Copper = Price of Peace (as Friedland said “forget about things such as Replacement Cost”)!

You can moan and say “it will be so challenging for the globe”…

OR…

“you could be positioning yourself across projects in the Copperbelt”!