Commodity markets have done quite well over the past few months as rate hikes slow, and inflation remains several times above the targeted rate. The current environment is perfect for mining companies to capitalize on as higher prices mean more economically effective production processes/more valuable exploration outcomes. Especially with copper continuing to be one of the most in-demand metals as the renewable/EV transition accelerates.
https://www.hellenicshippingnews.com/disruptions-raise-the-chance-of-copper-supply-tightness/
From recent exploration efforts, $EMR.V has already been adding value to their properties in Nevada and Quebec.
- Recently discovered visible gold intercepts from their Trecesson property in Quebec, a 2,360-hectare property that is currently undergoing a 4,000m drill program. Additionally, two out of the five holes showed signs of visible gold so we should see some results soon once the selected cores are sent in for testing.
- In Nevada at their New York Canyon project, their JV partner Kennecott Exploration (owned by Rio Tinto) just discovered an additional copper target of significant size (1,650m by 1,400m).
With their $22.5M JV with Rio Tinto already adding value to New York Canyon and continued exploration at Trecesson, there’s a lot to look out for considering that the company is valued at only $6.79M compared to the property/asset value.