The giant has awakened..and is moving forward in giant steps. Two huge announcements have just come out in quick succession.
1. Copperwood feasibility study completed - this reflects current costs and copper price. It shows a very profitable, extremely low-risk project at a range of price scenarios, including of course the actual scenario. THE PROJECT IS FULLY PERMITTED. Isn't that what the US needs right now - low-risk, domestic, environmentally approved copper mining? Early works will start in 2023.
2. Phasing of their two major projects - this 'little' company has not one, but two major projects close to each other. They have just announced that they will not develop both at once, but will accelerate development of Copperwood while completing studies on the White Pine project in quick succession. This will facilitate financing and provide the earliest possible cash flow.
The market has been snoozing on this sleeping giant for years. Now the snooze is over, for those who can see what is going on. The company has major investors who can unlock financing, and who will not want to be diluted more than necessary. And there could be offers from other major copper players at any time. A "surprise" announcement should not come as a surprise.