ALTA COPPER - $7.26/SHARE $654 MILLION!!!! The price of copper is above $5 per pound USD and Jeff Currie, Chief Strategy Officer of Energy Pathways at asset manager Carlyle sees copper going higher to $6.80/lbs or $15,000/tonne.
https://www.mining.com/get-real-copper-price-record-was-56-years-ago/
Last week, Alta Copper released a highly robust Optimized Preliminary Economic Assessment (PEA) on their 100% owned Canariaco project.
Canariaco is a large scale copper porphyry that currently contains:
Copper = 14.2 Billion lbs = $70,000,000,000 USD
Gold = 3.3. Million oz = $8,000,000,000 USD
Silver = 33.1 Million oz = $1,000,000,000 USD
Molybdenum = 18.9 Million lbs $600,000,000 USD
Total metal value $80,000,000,000 USD or $110,000,000,000 CDN
(additional drilling planned for 2024 can dramatically increase the current resource by 20% to 80%)
Total current copper equivalent of 16,000,000,000 with a marginal takeover price per pound of $0.03 USD values Alta Copper at $480,000,000 USD or $654,000,000 CDN
Value of Alta Copper $654,000,000 = $7.26/share CDN
Alta Copper has seen its shares climb 2x since the beginning of 2024 bringing its total market capitalization to $60 million CDN.
With a calculated valuation of $654 Million there is an 11x opportunity for investors.
There are very few copper projects as large and robust as Canariaco that are not owned by a major miner. There are even fewer; if any, that have a $60 Billion investor who is focused on developing the project. Fortescue has a 31% share of Alta Copper.
The recent PEA shows a very favourable after-tax NPV of $2.3 Billion USD at $4 copper and $4.0 Billion USD at the current $5 copper price.
The value proposition of the Canariaco project is undeniable and is certain to draw the interest of large investors, institutions, investment banks and other miners.
With the price of copper increasing and large miners looking to secure large, generational copper porphyries, Alta Copper could be in for a wild ride up!