CVV went from 2c to 60c from mid-2020 to mid-2021.Their resource...

CVV went from 2c to 60c from mid-2020 to mid-2021.

Their resource was 500Mt at 0.25% when they were capped at $10m in July 2020. In mid-2021 they were capped at $200m at 60c with 662Mt @ 0.28%Cu (.15% cutoff).

Compare to ALM with 694Mt at 0.22% Cu (0.15% cutoff) as we speak.

Effectively all that happened during CVV's run from 2c to 60c was the copper price went from $6,500/T(July 2020) to $10,000T (July 2021). Not much resource growth...

Compare with a copper price stabilizing at $8,500/T today with a much more dire supply picture.

If you believe in Copper, then expect ALM to also go to $200m minimum. Difference being ALM deposit is more manageable (one large super pit) vs a number of spread-out satellite pits and a far better infrastructure picture (power, water, location to port and cheap power). Plus busted arse farm land 50km from Gladstone not in prime wheat country where CVV sits (expect MAJOR community pushback to CVV).

I see CVV realising in 12-18 months that ALM is a superior and easier deposit to develop and seek a takeout in 2026 by a major for the aforementioned reasons and buying ALM or merging both companies. With both deposits, newco would be the largest undeveloped copper play in Aus by A LONG WAY. Nobody could catch them. Would be top 5 development co globally probably.

For arguments sake, why on earth would you develop Wafi Golpu in PNG or any other "better" but more risky projects ahead of a dual development strategy in your own back yard. Much easier conversation for S32, Rio, Freeport, S32 to have at a board level. Newco with both assets could easily be worth $1B in a frothy copper market.... Just remember the $6B LTR got to in a frothy Li market.... Having the same Chairman who's HEAVILY invested in both and continues to buy $100,000's of both stock helps make this story more likely than not.

To continue the LTR theme, this was also totally forgotten about in a weak Li market at 5c in 2020. When everyone wanted Lithium, it ran to $3 share.... The KEY difference here is Lithium is far more abundant than Copper....

Copper price in Blue below.

All my rambling 2c btw....