Halo Minerals has released a competent persons report (CPR) on the Playa Verde Copper Tailings Project in Chile, confirming a substantial resource and reserve base.
The resource base contains total resources of 53.44 million tonnes @ 0.24% copper, in-situ fine copper content of 125,820 tonnes, including the declared ore reserves of 32.2 million tonnes @ 0.25% copper, with an in-situ fine copper content of 79,359 tonnes.
Playa Verde also has an net present value of US$154.1 million ($217.63 million) and an internal rate of return of 50.9% post-tax, based on the ore reserves only.
As part of the project’s mine plan, initial mineable resources and reserves total 34.2 million tonnes to produce 60,329 tonnes of refined copper. The mine plan is based on dredging and processing 5 million tonnes per year of tailings, with an overall metallurgical recovery of 72%.
CEO Andrew Dennan says the CPR validates the company’s view that Playa Verde is a technically sound and financially attractive asset, with upside potential.
“We look forward to advancing the project towards development,” Dennan says.
The CPR was commissioned as part of the company’s intention to seek admission to trading on the AIM.
Earlier this year, the company officially changed its name from Guardian Metals to better reflect its focus on producing key strategic and battery metals through the reprocessing of low-risk, metal-rich surface accumulated legacy mining waste projects, with a particular focus on copper.
In December 2025, the company proposed the name change amid preparations for a return to the London AIM Market following completion of a pre-initial public offering (IPO) capital raise.
The Alternative Investment Market (AIM) is the London Stock Exchange’s market for small and medium size growth companies. It has served as a platform enabling growth-oriented companies to access public capital and drive global economic progress for over 30 years.
Halo Minerals is a copper-focused developer that owns the Playa Verde Project in the Atacama region of Chile.
Write to Aaliyah Rogan at Mining.com.au
Images: Halo Minerals
