Libero Copper, Right Time, Right Commodity
I am not a big fan of the Greening as some solution to that of CO2 and Electric Vehicles. We are being fed a lot of nonsense and poor economics. If you are a fan, the next time you are out, look out for charging stations. There just aren’t very many. Actually a well-designed diesel powered auto is pretty hard to beat. I drive a large car with a diesel engine in the city and get forty miles to the gallon. When I was young we thought that getting twenty miles to the gallon was just wonderful. I have had a couple of Corvettes and they were doing well to get eleven miles to the gallon. But gas was $.59 a gallon.
However we have a giant shortage of copper right now and the insane sanctions levied on Russia by Klaus Schwab and his puppet in the US, Hunter Biden’s “Big Guy” has just blown the entire supply chain to bits. We are going to have shortages of everything. Copper was already down below a three-day supply in warehouses.
Copper has been hit with a double whammy. Supply is down due to major mines closing. There has been a lack of investment in exploration because the price of copper just couldn’t justify it. Their demand increases from the clean energy side and the experts are calling for a four to eight million tonne copper gap to develop by 2030. To give you an idea of what that means, the ten largest copper mines in the world only produce 5.7 million tonnes per year.
Libero Copper (LBC-V) has four major copper porphyry targets, two are in the Golden Triangle of Northern BC, Canada, one is in San Juan, Argentina Their prime project is called the Mocoa copper moly project in Colombia.
Mocoa was picked up from B2 Gold in 2018 for just over two million shares of Libero and a 2% NSR. Since then the company has staked an additional 104,000 hectares to add to the project. Between 1978 and 1983 prior operators conducted just over 18,300 meters of diamond drilling in thirty-one holes. While B2 owned the project, they added an additional 6,900-meter in twelve holes. The best hole included 634 meters of 0.67% CuEq. That is just about $68 rock and that would be economic in Colombia today.
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There is an existing 43-101 on Mocoa showing 6.31 billion pounds of CuEq. With only 63.5 million shares outstanding that means every $.54 share of stock has ninety-nine pounds of CuEq behind it. That sounds like a good deal to me.
In mid-February the company announced commencing a 5,000-meter drill program designed to expand the resource, do infill drilling and provide material for a metallurgical study. There will be a total of five holes.
In 2019 Libero added a project in BC called the Big Red porphyry property. They can pick up 100% of the project for 400,000 shares and cash payments of $440,000 over four years. So far 200,000 shares have been issued and $140,000 paid out. An initial drill program came up with 120 meters of 0.41 CuEq in 2020. A follow up program in 2021 of ten holes with 4,570 meters of drilling came up with results of 119 meters of 0.29 CuEq.
In early 2021 the company added an additional property in BC with the Big Bulk porphyry gold/copper project where the company will pay $1 million or issue shares with similar value in addition to payments of $625,000 and conducting $750,000 of exploration over five years to get 100% subject to a 2% NSR.
Libero Copper is well financed with a completed $8.3 million pp. The bulk of the money will be spent on drilling and exploration of the Mocoa project in Colombia. With a $34 million market cap and over $8 million in the bank it is a cheap perpetual call on copper. No one knows what the ultimate effects will be from the sanctions but with nickel going up 111% in one day, frankly I see hyperinflation.
I have bought Libero in the open market and participated in private placements so naturally I am biased. Libero is an advertiser. Do your own due diligence.
Libero Copper & Gold