WMLLF - Copper Explorer Gathers Experts for 'Untapped' Ariz. Project | Benzinga
Source: Streetwise Reports 05/13/2024
A Canadian copper company is putting together a team of experts to meet the challenge of providing the red metal needed for the energy transition. Find out which research firm has rated the stock a top performer.
As copper prices continue to rise on fears of shortages, one Canadian copper company is putting together a team of experts to meet the challenge of providing the red metal needed for the energy transition.
Vancouver-based World Copper Ltd. (OTC: WCUFF) is focused on the exploration and development of its coppery porphyry projects in Arizona and Chile.
The Technical Advisory Committee announced Monday will work on the development of the Zonia project in Arizona to guide development issues such as permitting, construction, and ramp-up of the project.
Two committee members, mining executives Joe Phillips and Derek White, have been appointed, the company said.
"The copper market is in desperate need of lower cost, faster to market copper oxide projects like Zonia" said World Copper Chief Executive Officer Gord Neal. "Mr. White and Mr. Phillips both understand the outstanding value proposition this asset offers and they bring a great deal of knowledge and experience in developing and building mines effectively."
A Top-5 Performer
Copper has climbed above US$10,000 a ton on the predictions of tighter supplies and rising consumption for use in electric vehicles (EVs) and power grides.
"Prices of copper have risen 17% this year on fears of shortages, with aging mines forecast to struggle to keep pace with demand" Mining.com reported.
ANZ Group Holdings Ltd. analysts, including Daniel Hynes, told the site that supply growth is stagnating.
Taylor Combaluzier of Red Cloud Securities has noted that Zonia "has lots of untapped potential" for copper.
"It could either be rapidly developed for nearer-term production or potentially be expanded through exploration to increase the scale of the project" Combaluzier wrote.
In March, WCU was named among Fundamental Research Corp.'s (FRC) Top five performers of the week, the equity research firm ...