Pivotal Metals (ASX:PVT) will be taking the stage at next week’s Noosa Mining Investor Conference in Queensland to shine a light on Québec’s copper potential.
Ahead of the conference, which runs from 17-19 July at the Peppers Noosa Resort, Managing Director Ivan Fairhall says he will be introducing Pivotal’s 100%-owned Horden Lake Project in his presentation to attendees on day one.
“We have recently released exciting drill results from the project, so I will be outlining the significant upside becoming clear, as well as providing insight into the extensive news flow investors can look forward to in the coming months,” he tells Mining.com.au.
Horden Lake is a copper-nickel-gold-platinum group metals-cobalt project that sits 131km north-northwest of Matagami in Québec. The project currently hosts an indicated and inferred resource of 28 million tonnes @ 1.5% copper equivalent.
The deposit is open at depth and along strike.
Earlier in July, Pivotal revealed it had intersected thicker copper mineralisation at depth which indicated the potential for “material resource growth”.
“We are very active right now at Horden Lake, which is a new story for the ASX, and sits in a small peer group of credible developable copper projects,” Fairhall says.
“We therefore think there is going to be considerable interest in Pivotal given the highly constructive copper market dynamic that we find ourselves in.”
Besides the red metal being a high-demand product in electrifying the globe, it has also witnessed a spike in demand stemming from Russia’s war on Ukraine.
According to Fastmarkets, the two-and-a-half year conflict has consumed a lot of copper, which is used in munitions and bullets.
Fastmarkets analyst Andy Farida says “war is good for the metals business”.
“And part of the reason copper prices have been resilient, while the other base metals have not, could be due to increased demand from the ongoing war in Ukraine,” he says.
The copper price spiked as much as 28% since the start of 2024 to a peak of US$10,889 ($16,123) per tonne. It is still up around 16.5% at US$9,905 per tonne.
But future demand for copper is largely being driven by the clean energy transition, with industry watchers predicting the price could reach anywhere between US$15,000 and US$17,000 per tonne.
Fairhall will be presenting the Pivotal story at the “small caps big day out in Noosa” on 17 July at 3.30pm AEST which showcases companies with a market capitalisation of less than $55 million.
He says there are many drill holes yet to be released from the program at Horden Lake, alongside downhole electromagnetics, which outlines the path for continued resource growth over time.
“We also have metallurgical testwork and a resource update that will follow, so lots to keep investors engaged,” Fairhall tells this news service.
Mining.com.au is a media partner of this year’s Noosa Mining Investor Conference. To register click here.
Write to Angela East at Mining.com.au
Images: Pivotal Metals
