I guess in the last 6 months everything is up massively (metals, oil, toasters, morons raging on social media about 5G), so if the range is extended to before the covid effect, the copper price is also way past the pre-pandemic value:
Copper is trending up to a three year high.
EM2 acquired Oracle Ridge a year ago on the 28th November. The company has increased the value of it's resource by 13% in copper alone, so we have made around $150 million just from buying it! Here is my hack estimation of the change:
Gold has gone from $1450 to $1880 USD/oz too, silver is massively up from $17.20 to $24.70 so the whole asset is increasing in value without taking in the expansion of the resource from the recent drilling.
From the copper alone the total potential value is 24 x that of our current market cap. With cost of mining etc, even at premium rates we are still looking at 5-10 X current market cap at least I reckon.
Of course none of this means anything until it comes out of the ground and is sold to the market. Until then we just have a big hole and a bunch of rocks being eyeballed by some hairy scientists.
Bring on the results.
