'Fully Funded High-Grade Copper Explorer' First Look: A Fully Funded High-Grade Copper Explorer with Billionaire Backers
Today, Abitibi Metals (AMQ.c AMQFF) announced that it will be presenting at the Clean Energy Metals Virtual Investor Conference August 29th amid ramping up activity with our Phase 2, 16,500-meter drill program at the B26 Deposit: https://abitibimetals.com/abitibi-metals-to-present-at-the-clean-energy-metals-virtual-investor-conference-august-29th/
For more information about AMQ, refer to this recent interview from TokStocks Podcast with Jon Deluce, CEO of AMQ, a $35M mcap company focused on developing a world-class asset for the eventual sale to a major company: https://www.youtube.com/watch?v=c-P5-Pz06G8
Company Vision and Strategy
- Aims to develop and sell what it believes to be a world-class asset.
- Leadership emphasizes prudent capital management and building a strong team around the asset.
- Fully funded through the beginning of 2026.
- 110 million shares outstanding with 30% insider ownership.
Key Project and Focus
- Primary focus on copper, with the B26 project in Quebec as its flagship asset.
- B26 project acquired from a subsidiary of the Quebec government, Soquem.
- Historical resource of 11.5 million tons of 3% copper equivalent, with significant exploration upside.
- Fully funded to complete the 14.5 million CAD work commitment by 2026, aiming to grow the resource to attract major mining companies.
Exploration and Resource Potential
- Completed a 13,500-meter drill program in Q1, confirming the open-pit potential and identifying new targets.
- Focus is on expanding the resource through further drilling, particularly on the western plunge of the deposit.
- Deposit has the potential to grow to 30-50 million tons.
- Plan to update the resource estimate in September or October, which could significantly increase the project's value.
Financial Strategy and Market Position
- CAD$22 million raised since November, with no general warrants, keeping the share structure tight.
- Currently trading at a discount to its last financing, which the CEO sees as a short-term opportunity for investors.
- Plan to ramp up drilling and marketing in the fall to increase visibility and attract further investment.
Amid ongoing drilling with 16,000 to 20,000 meters planned by the end of the year, AMQ has the potential to release resource update with new discovery targets outside the B26 deposit as it aims to continue building value and attracting attention in the junior mining sector.
For more information, AMQ will be presenting at the Clean Energy Metals Virtual Investor Conference August 29th: https://abitibimetals.com/abitibi-metals-to-present-at-the-clean-energy-metals-virtual-investor-conference-august-29th/
Posted on Behalf of Abitibi Metals Corp.