Playing a pivotal role in various sectors, including construction, manufacturing and, most notably, the renewable energy industry, copper has experienced a substantial price rally, driven by several key factors.
Significant production cuts by Chinese smelters due to low processing fees, as well as mine closures and protests in major copper-producing countries have limited supply, as demand remains strong.
With this, hedge fund manager Pierre Andurand is predicting that copper prices could surge to $40,000 over the next four or so years.
Similarly, another bullish analysis comes from Jeff Currie, former Goldman Sachs executive, who says that copper is the highest conviction trade he's seen in his career with the metal representing "the most compelling trade I have ever seen in my 30-plus years of doing this.".
(Source:
https://www.mining.com/copper-prices-could-surge-to-40000-predicts-hedge-fund-manager-pierre-andurand/)
7MT of 2.9% Copper in The Abitibi Greenstone Belt As detailed by CEO Jonathan Deluce in the latest interview with Rocks and Stocks News, Abitibi Metals (AMQ.c AMQFF) is a new mining company with a high-grade copper project in Quebec, the B26 Deposit:
https://youtu.be/KOyQRUaWpWc?si=6RLayVm-DolJ_oOZ Located in Quebec's Abitibi Greenstone Belt, Canada's best mining jurisdiction due to government support, strong tax credits, and a skilled workforce, the B26 Deposit is a new high-grade polymetallic copper deposit with an indicated resource of 6.9MT @ 2.94% Cu Eq and an inferred resource of 4.41MT @ 2.97% Cu Eq.
Having raised $50M through charitable flow-through financing, AMQ is fully funded for its 30,000m 2024 field season and maiden drill program at the deposit.
With $17.5m to complete the remaining 16,500m planned for the 2024 work program, AMQ is targeting an additional 20,000m in 2025 which will be incorporated into a PEA to complete the B26 deposit.
Thus far, the first phase has been completed with 13,500m of drilling in 44 diamond drill holes, with the latest results showing 57.2m at 1.78% CuEq in extensional drilling including 13.1m at 3.1% CuEq. Demonstrating that the deposit is further open to the east, these latest results successfully expanded the zone 75m from historical drilling.
Aiming to build a resource that is salable to a major, with a target size of 20 to 30 million tonnes, AMQ is on track for a catalyst filled summer in the near term.
Latest News Release:
https://abitibimetals.com/abitibi-metals-drills-57-2-metres-at-1-78-cueq-in-extensional-drilling-at-the-b26-deposit-including-13-1-metres-at-3-1-cueq/ For more information, refer to Mining.com's latest feature on AMQ's new copper area:
https://www.mining.com/abitibi-metals-probes-new-copper-area-at-b26-in-quebec/ Posted on Behalf of Abitibi Metals Corp.