RE: CANDENTE COPPER - NORTE VALUED AT $1.47/SHARE MINIMUM
Well done comparision between the two companies.
The real competitive advantage Candente Copper has over Josemaria (and almost all others in this space) is that they have two more mineralised porphyry deposits in very close proximity to Norte.
This close proximity allows for economic synergy; the sharing of one facility to process all the porphyry deposits.
To my understanding, Sur has copper in the ground and only requires a few more drill holes to define it (18 holes already completed). The latest interview with Candente's CEO clearly states the company knows what they have (at Sur), they just need to finish off the drilling. Sur can be developed with revenues from Norte and since the processing facilities will already be built the CapEx for Sur is negligible .
The new PEA is key as it will confirm to the mid and large tier, even some small-tier, that Candente Copper is economical with vast resources over and above Norte's 9 Billion pounds of copper.
Quick Math:
9 Billion Pounds Cu at Norte
7 Billion Pounds Cu at Sur (estimate)
4 Billion Pounds Cu at Verde (maybe)
20 Billion pounds Cu x $4.20/lb = $84,000,000,000 (est. resource value in the ground)
Candente Copper is definitely worth $1.60/share and I would say closer to $2.40/share.