It’s a good time to be a copper explorer, and greenfields exploration play Cooper Metals (ASX:CPM) is hoping its story will resonate with investors at this week’s RIU Sydney Resources Round-up.
The copper price has rallied over 18% since the start of 2024, reaching US$10,135 ($15,524) per tonne on 29 April 2024.
While it has retraced some of its gains, closing at just under $9,900/t on 1 May, analysts see the red metal heading towards US$15,000/t as supply disruptions continue.
Cooper Metals, which has a $9 million market capitalisation, has a 1,600km2 landholding in Mt Isa, Queensland.
Mt Isa is a region that has a long history of copper production from several operating mines including Mt Isa, Ernest Henry, Eloise, Mt Colin and Cloncurry.
This will be Managing Director Ian Warland’s third year attending RIU Sydney, which attracted over 1,500 delegates in 2023 – its busiest since inception in 2004.
And the event is on track to match last year’s attendance, which included over 800 from the investor or broker/fund camps.
“I usually go to RIU in Sydney because there’s a good mix of brokers and retail investors there,” Warland tells Mining.com.au.
“There’s a lot of other companies there, so it’s a good opportunity to catch up and do a bit of networking and potentially dealmaking.”
Warland will be addressing attendees on the second day (Wednesday 8 May) of the three-day event to deliver an overview of the company’s exploration progress to date.
Cooper has generated a pipeline of over 50 targets for further exploration with a large program already underway.
The company recently completed a follow-up reverse circulation program on four regional copper-gold prospects at the Mt Isa East Project.
“Some of the assays there are pending so there’ll be some news flow coming out later this month about the assay results for those prospects we’ve drilled,” he says.
Cooper is also expecting a continuous flow of exploration updates from its large tenure, as well as news to come from the start of fieldwork on its Western Australian copper-gold project.
Mining.com.au is a media partner of this year’s RIU Sydney Resources Round-up, which is being held at the Darling Harbour’s Hyatt Regency Hotel on 7-9 May 2024.
Write to Angela East at Mining.com.au
Images: Cooper Metals
