Strong day for LBC - up over 15% with above avg volume Driven by strong demand for the energy transition, UBS forecasts a copper supply deficit of over 200,000 tons by 2025 and predicts copper prices to average $10,500 per ton in 2025 and $11,000 in 2026. Despite potential short-term price dips, demand from AI data centers, defense, and easing monetary conditions in Europe and the U.S. should support copper demand growth, offsetting the property downturn in China. (Source:
https://www.mining.com/web/ubs-expects-copper-price-to-average-10500-in-2025/)
Up 20% so far with above average volume today, Libero Copper (LBC.v LBMF) recently launched a major resource expansion program at its flagship Mocoa Poprhyry Copper-Molybdenum Deposit in Colombia's Jurassic Copper Belt.
The 14,000-meter drilling campaign is part of a broader plan to expand and enhance the high-grade copper-molybdenum deposit which currently contains an inferred mineral resource of 6.2 billion pounds of copper and 441 million pounds of molybdenum.
The resource expansion program is focused on high-grade zones within the Mocoa deposit, targeting increasing the potential of these zones. Extensive reviews of previous drill holes and updates to geological models have led to a comprehensive plan for both step-out and in-fill activities to improve the understanding of copper and molybdenum distribution.
This drilling campaign is a crucial step in unlocking the full potential of the Mocoa deposit. The collaboration between LBC and local stakeholders demonstrates a commitment to responsible resource development, with significant attention to environmental and community concerns.
Full News Release:
https://ca.finance.yahoo.com/news/libero-copper-advances-expansion-mocoa-113000147.html Posted on Behalf of Libero Copper and Gold Corp.