LBC Surges on Red Day for Broader PM Market Libero Copper (LBC.v LBMF) is surging - up 12% demonstrating strength and elevated demand on a red day for the broader PM market. Having presented at the Precious Metals Summit in Zurich today, LBC's CEO Ian Harris highlighted its potential as the next copper giant with 4.6 billion pounds of copper, including an inferred resource of 636 million tonnes at 0.45% copper equivalent (CuEq), including 2.1 million tonnes of copper and 232,000 tonnes of molybdenum: https://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2024/11/11/libero-copper-gold-corp/play/stream/39440
Backed by principal shareholder, Frank Giustra, LBC is focused on developing the Mocoa copper-molybdenum project in the Jurassic Copper Belt amid a dynamic copper market and looming supply deficit.
Mocoa Project Highlights
- Key Resource: 4.6 billion pounds of copper, with an inferred resource of 636 million tonnes at 0.45% copper equivalent (CuEq), including 2.1 million tonnes of copper and 232,000 tonnes of molybdenum.
- Geological Details: A porphyry copper-molybdenum deposit located in the larger Jurassic Copper Belt, a prolific region known for significant copper resources.
- Expansion Potential: The deposit is open laterally and at depth, offering room for further exploration and resource growth.
Strategic Position and Market Potential
- Copper Market: Positioned as a future key player in the copper market with the ability to get market attention, which is anticipated to grow due to increasing demand from the global energy transition (clean energy technologies, electric vehicles, etc.).
- Local and Environmental Engagement: Actively working with local communities in Putumayo, engaging in water quality monitoring and providing local jobs, while ensuring compliance with Colombia’s environmental regulations.
- CEO: Ian Harris, a mining engineer with 25 years of experience, has previously led large-scale mine development projects in South America.
- Frank Giustra: A major shareholder through the Fiore Group, a firm known for investing in successful mining ventures such as Aris Mining and Wheaton Precious Metals.
Amid an extensive and ongoing 14,000m exploration program, LBC is targeting significant resource expansion, increasing the total historical drilling at Mocoa by nearly 50% with the targeted zones aiming to expand high-grade copper and molybdenum areas and enhancing the understanding of the overall resource potential.
Posted on Behalf of Libero Copper and Gold Corp.