Kevin Puil: Copper Stocks Gleaming in Gold's GlowKevin Puil: Copper Stocks Gleaming in Gold's Glow
pub/na/9641
TGR: Given the level of activity in the sector, could you tell us about any off-the-mainstream-radar companies that may have significant copper assets? Any compelling stories, particularly in mining-friendly jurisdictions?
KP: Yes, we've identified a few companies.
Exeter Resource Corp. (TSX:XRC; NYSE.A:XRA; Fkft:EXB) has its Caspiche project. Again, it's one of those copper/gold projects, with about 20 million ounces (Moz.) of gold and about 5 billion pounds (Blbs.) of copper. That comes with its own challenges, however, including lack of infrastructure and a large capital expenditure (capex) requirement.
Closer to home,
Nevada Copper Corp. (TSX:NCU) has the Pumpkin Hollow deposit in the Walker Lane mineralized belt of Western Nevada. That deposit has about 9 Blbs. of copper with a couple million ounces of gold as well. Nevada Copper may be facing some permitting and financing hurdles, but it has good infrastructure in a stable political environment.
We also like Candente Copper Corp. (TSX:DNT). Its Cañariaco Norte deposit, with 7 or 8 Blbs. of copper has been significantly de-risked with the completion of a pre-feasibility study. Capex is probably going to be about $1.5B. Cañariaco Norte is in Peru, where the mining sector may see some instability in the post-election period, as both candidates have indicated an intention to increase taxes