This company has the largest copper resource held outside a major on the ASX at the moment: Company’s fully funded 2021 work programme aims to continue building Costa Fuego toward a tier one copper project (+5Mt copper) from its current contained metal resource base of 2.9Mt copper and 2.7Moz gold, 9.9Moz silver and 64kt molybdenum.
Drilling has been significantly accelerated and the Company plans to complete two deep diamond holes every four to five weeks at Cortadera
So..........they are fully funded for a serious resource expansion push this year and results will be flowing in on a very consistent basis. Income (albiet small) from copper production also. They are looking to define that rarest of things..........a tier 1 copper resource (5mill tons contained copper).
A third drill rig has commenced operations at Hot Chili’s world-class Cortadera copper-gold discovery in Chile = big news flow.
Two diamond drill rigs operating 24 hours a day are targeting a major upgrade to Cortadera’s 451Mt maiden resource later this year.
Volume starting to come into play here today and a nice push above upper BB may signal possible breakout near term with new year highs being a likely target by my estimates..........say approx 6.0c ish.
SS is overbought so shes "hot' to trot atm, but with copper spot climbing and threatening to hit serious new highs their 2.9mill ton resource is looking hugely undervalued by my estimates and with expansion on the cards that value will need to realign at some point.
I hold this one and believe strongly in the long term prospects on offer here, I truly think that should this resource grow to tier 1 levels then takeover by a major looking to boost inventory and production capacity is an extremely likely event. Of course DYOR and protect your capital etc etc. I am long here. But this should offer some short term value if this can close 4.7c or better today.
This is due a significant upside push off the back of rising copper prices and that's my two bob. However if the breakout fails the price may move back toward the 35ema around 4.0c. But the market has ignored this "small" copper play for too long imo.
