There is an interesting turning point on the road ahead for the global copper market. 
As Stockhouse covered late last month, copper is likely on the cusp of breaking out on an uptrend this year and Libero Copper Corp.(TSX: V.LBC, OTCQB: LBCMF, Forum) was one stock singled-out as in a prime position to advance.
In June 2018; the Company announced that it had closed its latest acquisition - 100% of the Mocoa porphyry copper-molybdenum deposit in Colombia from industry heavyweight B2Gold Corp (T.BTO). Through the deal, Libero issued 10.4 million common shares to B2Gold making up a 19% interest in the Company, granting B2Gold a right to participate in future equity financings to maintain its stake.
Mocoa has a history of significant drill campaigns totalling 43 drill holes. Located 10 kilometres from the town of Mocoa in Colombia near the border with Ecuador, the Mocoa deposit is a 30-kilometre-wide tectonic belt that lies under rocks that date back to the Precambrian Age from billions of years ago. The Jurassic Porphyry belt hosts several other porphyry-copper deposits, such as Mirador (438 million tonnes measured and indicated at 0.61% copper and 235 million tonnes inferred at 0.52% copper), San Carlos (600 million tonnes inferred at 0.59% copper) and Panantza located in Ecuador (463 million tonnes inferred at 0.66% copper).
This rich deposit was discovered in 1973 when the United Nations conducted a regional stream geochemical survey with local authorities. Through the late 70’s and early 80’s, an exploration program dug into geological mapping, surface sampling, ground geophysics and preliminary metallurgical test work. In 1984, a bulk copper-molybdenum flotation concentrate was processed with a grade of 24% copper and a recovery of 86%, while the molybdenum concentrate had a grade of 55% molybdenum yielding a recovery of 83%. Diamond drill programs continued through 2008 to 2012 by B2Gold and were monitored using a QA/QC program typically accepted in the industry.
At a price of $3/lb copper, $10/lb molybdenum and the projected operating costs of $2.50 / tonne for mining, with $10/tonne processing as well as $2/tonne general and administration costs, the base case cut-off grade of the mineral resource is estimated to be 0.25% CuEq. The chart below offers a summary of the in-pit mineral resource estimate with a series of cut-off limits for comparison purposes.
With an inferred resource of 636 million tonnes at a grade of 0.45% copper equivalent, the Mocoa deposit is a promising addition to Libero’s portfolio. The Company also boasts the Tomichi deposit in the United States, which contains an inferred mineral resource of 711 million tonnes at a grade of 0.33% copper equivalent. In total the properties contain 7.9 billion pounds of copper and 1.1 billion pounds of molybdenum.
Meanwhile, the copper market is predicted to bounce back in 2018, according to Capital Economics. The research firm based out of London, U.K. expects copper to end the year at $6,500/tonne or $2.95/lb. Focus Economics is even more ambitious, calling for the metal to average $6,835/tonne by Q4 2018, compared to Q1’s average recorded at $6,960.
As copper prices rise, mine supply will rise and refinery output along with it. It was just over two years ago that copper could be bought for around $4,400/tonne. Investors interested in knowing more about this forecast for copper should give Libero Copper a deeper look.
LiberoCopper.com
FULL DISCLOSURE: Libero Copper Corp. is a paid client of Stockhouse Publishing.