"Why is a billionaire the largest shareholder?"Why is a billionaire the largest shareholder in this $17M copper mining stock? -
https://www.youtube.com/watch?v=tORnh6Qu7f4 In a recent interview, Ian Harris, CEO of Libero Copper(LBC.v LBCMF), discussed the company's strategic direction and the value of its team and projects, highlighting the experience of its team, including Harris, a seasoned mining engineer with 25 years of experience, predominantly in South America.
Ian Harris's Background:
- Mining engineer with 25 years in the industry, 15 of which were in South America.
- Experience includes starting up the San Cristal project in Bolivia and working in Venezuela's coal mines.
- Played a significant role in the Mirador project in Ecuador, which sold for $690 million and became the country's first industrial-scale mine.
Libero Copper's Project, the Mocoa Copper-Molybdenum Project:
- Located in the Jurassic belt, similar to Mirador in scale.
- Harris emphasizes the importance of political will and local community integration for project success.
- The Mocoa project in Colombia is seen as a potential game-changer for the country.
Team and Vision:
- The team includes Ernie Mast, a director with extensive experience in large copper projects, including the Cobre Panama project.
- Libero Copper is now part of the FURY group, thanks to a significant investment by Frank Giustra, a renowned company builder.
- The company has evolved from merely seeking to advance Mocoa to a broader vision of building a major copper company.
Market Perspective:
- Harris discusses the supply-demand dynamics of copper, emphasizing its importance in the energy transition and AI development.
- Despite current low equity valuations in the copper sector, the long-term outlook remains robust.
- Libero Copper aims to leverage its strong team and strategic investments to capitalize on this disconnect.
Challenges and Opportunities:
- The company faced challenges in accessing capital during 2021-2023 but now sees opportunities in acquiring undervalued projects.
- Harris highlights the importance of being on the ground in Colombia, building local relationships, and understanding the nuanced socio-political landscape.
Future Outlook:
- Libero Copper plans to expand beyond Mocoa, utilizing its strong team and strategic vision to build a significant copper company.
- Harris believes the company's comprehensive approach and current market conditions position it well for future success.
Boasting an inferred resource of 4.6 billion pounds of copper and 511 million pounds of molybdenum, LBC's Mocoa Project reflects strategic importance for LBC and Colombia alike as it reflects a broader strategy, supported by strong partnerships, substantial resources, and a vision for significant shareholder value.
Posted on Behalf of Libero Copper and Gold Corp.