Post by
Helios on Dec 07, 2011 11:09pm
Update from Canaccord
Lumina Copper* (LCC : TSX-V : $10.56), Net Change: 0.46, % Change: 4.55%, Volume: 75,384Kinda like a Krispy Kreme doughnut made of copper and gold. Lumina Copper recently hosted a successful analyst visit totheir growing Taca Taca copper deposit in Argentina. In a note to clients, a Bay Street analyst who visited the site was verypositive on the name and noted that the deposit is one of the largest undeveloped copper porphyry’s in the world, and gettinglarger. Porphyrys are usually ring shaped before ground movement, with the current deposit being roughly half the typical ringshape. Surface geochemical work has shown anomalies to the south and the east that are similar to current resource. The analystalso noted that the exploration opportunity is not equally weighted as there is more upside than downside. Even if they don’tfind the other half of the porphyry, the stock is still cheap currently trading at
.02 per pound, with recent copper deals havingbeen done at
.04 per pound. Management is very strong and has previously sold Northern Peru Copper to Jiangxi Copper,Regalito Copper to a JV between Nippon Mining and Mitsui and most recently Global Copper to Teck Resources (TCK.B).The project is well situated in a mining friendly province in Argentina with a rail-line 10 km away in a sparsely populated area.The company is currently drilling the project with the drill program expected to conclude in Q2/12.