Interra Copper Corp C.IMCX

Codelco at Risk of Insolvency = Opportunity for IMCX

[MarketMakerss]

Investment funds are remaining bullish on copper despite prices showing sideways movement as major copper mines including Codelco, Antofagasta and BHP have reduced their output.

However, the latest news has Chile's Codelco, the world's largest copper producer, at risk of insolvency due to rising costs and a growing debt pile stemming from the projects that missed output targets. (Source: https://www.reuters.com/markets/deals/chiles-codelco-risk-insolvency-debt-grows-cesco-report-says-2023-08-17/)

As Codelco's production last year amounted to 28% of Chile's total output of 5.33M tons, their insolvency would result in a significant opening in the market for new sources to arise.

Amid this opportunity, Interra Copper (IMCX.c IMIMF) has emerged as a strong early-stage contender in the copper market with its Tres Marias Copper Project, located within the prolific Chilean Copper Belt which is responsible for 28% of the world's annual copper production.

Encompassing 16,000 hectares, Tres Marias is an extensive project strategically positioned in close proximity to major mining players such as BHP Billiton (BHP), Antofagasta Minerals (ANTO), Glencore (GLEN), and Freeport-McMoRan (FCX).

Recently, IMCX hit a significant milestone with the completion of Phase 1 drilling at Tres Marias. Phase 1 drilling efforts encompassed the completion of six Reverse Circulation holes, totaling 1,896 meters, the samples of which have been expedited to ALS Global for analysis with eagerly awaited results expected this month.

For further details on IMCX's potential, check out this short interview with the CEO: https://youtu.be/inlUh7Jbeu8

Posted on behalf of Interra Copper Corp