Massive South American Porphyry

ICG is looking like one of the best Porphyry plays and bets on the Copper price in 2021 in my view.

$31m market cap, $9m in cash.

ICG have 3 tenements in Peru. The ones in Purple (Riqueza) and the 2 new green ones.

Potentially another 4 to be granted (the ones in red).



Then in Australia they have at least 5 IOCG projects.






That is 8 projects (3 in Peru, 5 in Australia), with potentially another 4 to come. All have high grade copper/gold rock chips at surface and in Tier 1 neighborhoods.

Drilling at Riqueza should be very close. On 10 Feb 2021 ICG said they expect the permits will be within a couple of weeks.



There are two comparable plays I think of when I think of ICG. LCL with big porphyry and CTM which drilled a big nickel deposit in Elephant country Brazil. They both went 10X from the lows, started off with similar bases to ICG.





It will only take a whiff of porphyry in Peru for this to go $50-100M market cap.