Ann: Geophysics to Boost Copper Resources at Kou Sa, page-7

As commented by Barry Fitzgerald in The Australian - Friday


We are not alone it seems.........................


Cambodia play could be jewel in Geopacific crown
THE AUSTRALIAN MAY 08, 2015 12:00AM
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Barry FitzGerald
Resources Editor
Melbourne
Geopacific share chart.Geopacific share chart. Source: TheAustralian < PrevNext >
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Geopacific Resources
The 20 per cent rebound in copper prices since the January lows has yet to rub off on the copper explorers in any meaningful way.
But given the weight of money that is now backing the idea that the copper surplus that took the red metal down in the first place is going to be all but gone within 18 months or so, it won’t be long before leveraged exposure to the metal is sought through the explorers.
All that is working nicely for Geopacific Resources (GPR), which served up a bit of a game-changer itself yesterday, saying geophysics of the induced polarisation (IP) type was proving to be something of a “silver bullet’’ in pointing the way in where to drill at its Kou Sa copper/gold project in Cambodia.
Fifteen holes guided to their location by the sensing technique have been drilled and every one of them either encountered significant mineralisation (including 4.6m at 6.43 per cent copper equivalent from 20.5m), or zones with anomalous metal readings.
Kou Sa was racing to become Cambodia’s first metals mine, with these results pointing to the potential for Geopacific to be on to a metals province, remembering it is virgin ground and a “blind” discovery in that the mineralisation is hidden beneath cover.
There is no resource estimate yet but results to date suggest an initial one could be made by the end of the year from one or two of the already more intensely drilled prospects.
Guesswork by followers of the stock reckon it would not surprise if leads to Geopacific getting cracking on study work in to the development of a “starter’’ project of say 20,000 tonnes-a-year of copper equivalent.
That the company has private equity resources specialist Resource Capital Funds on board as a 38 per cent shareholder gives some comfort to that guesswork. RCF is presumably only there because it thinks Kou Sa has the potential to shape up to something worthwhile. Still, none of that is yet to be reflected in Geopacific’s market price. It was trading yesterday at 3.9c a share for a market capitalisation of about $15 million. Maybe another example of this market being asleep at the wheel.