Cashed Up for Exploration This Year Commodities have been recovering over the last couple of months, with gold up nearly 7% and copper up 11.5% in the past month alone, showing that there’s a lot of bullish sentiment returning to the space as rate hikes slow and demand for the resources remain high. And with China finally opening up and reducing its COVID restrictions, some analysts are predicting China to drive commodity markets this year.
https://www.reuters.com/markets/commodities/china-didnt-drive-commodity-markets-2022-it-may-2023-2023-01-16/
With commodity markets expected to continue performing this year, it’s time to start adding some mining picks to your portfolios. LBC's properties in BC, Argentina, and Columbia makes this an interesting company to watch.
- For example, their Mocoa property in Columbia is estimated to hold 4.6B lbs of copper and 511M lbs of molybdenum with drill-ready targets already identified.
- Recently raised $1.9M from a private placement to help support exploration at their Mocoa and Esperanza projects.
- Results from Big Red’s 2,790m summer exploration have been released as well. They were able to confirm an extension to the mineralization zone in addition to discovering grades of up to 10 g/t Au from the rock sampling they also conducted.
Overall, LBC is a company to watch moving into 2023, considering the macro environment, recently raised capital and exploration plans for this year. With a valuation of $14M, I’m sure there’s space for the company to continue growing as more results are released.