Still bullish on TM.v despite copper pullback. Despite pullback in the price of copper, I still believe Trigon Metals (TSXV: TM) is extremely undervalued at the moment.
Two weeks ago, the company reported that drilling of the Kavango Pit, a new zone at the Kombat Mine, yielded strong copper grades up to 3%. This further strengthens the potential of the Kombat Mine, which historically has produced approximately 12.46 million tonnes of copper.
In July, Trigon also announced a US$27.5 million silver streaming term sheet with Sprott Minig. This secures offtake of silver present at the mine, and gives the company wiggle room with working capital for the project.
Once Trigon starts reporting updates on copper production and offtake, I assume the numbers will be highly impressive. I would recommend doing your own DD and establishing a position before this happens.
Before TM took a dip to trade at current bi-yearly lows, shares were trading near $.6, over 280% higher than current prices. TM.v is currently trading at $.155, valued at $26.3 million.
https://ceo.ca/@businesswire/kavango-pit-and-kombat-trend-drilling-highlights-strength