In his recent article on 321Gold, "Libero Copper: What is $30 Billion of Copper and Moly Really Worth?" Bob Moriarty delves into the potential undervaluation of Libero Copper (Ticker: LBC.v or LBCMF for US investors).
Libero Copper owns the Mocoa copper and molybdenum project, a massive resource estimated at 4.6 billion pounds of copper and 511 million pounds of molybdenum.
At current market prices, this resource holds an in-ground value of approximately $30 billion, yet the company's market capitalization is only around $12 million—a discrepancy that Moriarty finds striking.
Libero acquired the Mocoa project from B2 Gold in June 2018 for about $10 million, a deal that seems increasingly valuable given the project's potential.
However, the project faced a major setback in January 2022 when the Colombian government introduced Resolution #110, restricting mining activities in the Regional Forest Reserve.
Despite this, Libero continued to advance the project, reporting impressive drill results in April 2022.
The article highlights that while the Ministry of Environment's stance creates hurdles, local community support for the project remains robust, with the Community Action Board of Montclar having unanimously endorsed a mutual benefit agreement with Libero.
In March 2024, Libero raised $2.86 million through a private placement, attracting notable mining investor Frank Giustra, who now holds an 11.2% stake in the company.
Moriarty emphasizes Giustra's reputation for building successful mining companies and expresses confidence in Libero Copper's leadership under CEO Ian Harris, predicting that the company is well-positioned to succeed despite its current challenges.
Full article here: https://www.321gold.com/editorials/moriarty/moriarty080224.html
Posted on behalf of Libero Copper & Gold Corp.