ICG Looking like one of the best Porphyry plays and bets on the...

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    ICG

    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).

    https://hotcopper.com.au/data/attachments/2673/2673338-e8199d53278293a46d1900745e610218.jpg

    Then in Australia they have at least 5 IOCG projects.

    https://hotcopper.com.au/data/attachments/2673/2673368-b6555b92bd433d40116db86f7f0f30b9.jpg

    https://hotcopper.com.au/data/attachments/2673/2673370-3e39c251851d310ab7ec04142c9f0a64.jpg


    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.

    https://hotcopper.com.au/data/attachments/2956/2956972-aef37797d95334833f08bbfa6d184af9.jpg

    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.

    https://hotcopper.com.au/data/attachments/2956/2956988-c94d39d0e7558ae628c77bdcb5e5c1d7.jpg

    https://hotcopper.com.au/data/attachments/2957/2957001-215dcb251496339e43914f95b172b696.jpg

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

 
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