AMQ @ Beaver Creek Conference Developing One of Quebec's Most Promising Mineral Discoveries - Summary of Abitibi Metals (AMQ.c AMQFF) Keynote at the 2024 Beaver Creek
Amid exploring one of Quebec's most promising mineral assets, Abitibi Metals (AMQ.c AMQFF) CEO, Jon Deluce, presented at the 2024 Beaver Creek Precious Metals Conference, detailing the company's latest exploration successes, upcoming milestones, and the strategic growth of the B26 Polymetallic Deposit: https://www.youtube.com/watch?v=7CR7-2F03b4
Company & B26 Deposit Overview
- Polymetallic deposit with 11.4 million tons of 3% copper equivalent.
- First public company to develop B26, previously owned by a Quebec government subsidiary.
- Strong infrastructure with access roads and power lines near the historical Selbaie mine.
Accomplishments
- Optioned B26 in November 2023 and raised $15 million in December.
- Conducted significant drilling programs, reaching 13,500 meters by Q1 2024.
- Top-performing Canadian junior mining stock in 2023 with a market cap increase from $5M to $60M.
Current and Future Plans
- Fully funded through Q1 2026, with ongoing drilling to expand resources.
- Aiming to update the current resource to 16-20 million tons by end of 2024.
- Focus on open-pit potential alongside high-grade underground targets.
B26 Resource Potential
- Goal: Expand the current resource to 30-50 million tons, following the successful development model of the nearby Selbaie mine.
- Drilling to explore mid-level resource and western plunge with promising results, including 5.08% CuEq over 7.1 metres.
Strategic Positioning & Industry Comparisons
- Comparing favorably to peers such as Arizona Metals and Foran Mining.
- Strong financial backing with $15 million in cash and 30% owned by management.
- Similar potential as other poly-metallic projects, located in a strong mining jurisdiction (Quebec).
- Viewed as undervalued by management given contained metal inventory.
Financial and Operational Strength
- Financed to complete option agreement by the end of 2024.
- Low G&A costs (16%) with a focus on exploration (84%), ensuring efficient use of capital.
- Strong metallurgical test results showing high recovery rates (98.3% copper, 90% gold).
Having made significant progress in a short time, AMQ is well-positioned for future growth amid a growing copper market.
For more information, refer to this deep dive: https://www.reddit.com/r/Inflation_Investment/comments/1fijmys/everything_you_need_to_know_about_copper_jr_amqc/
Posted on Behalf of Abitibi Metals Corp.