Market's view on Xtract
Published on April 2024
- Stock watchers are discussing the Bushranger Project’s potential for mining copper economically, citing a mineral resource that can be mined at rates of 20Mpta or more, with copper prices of US$10,000/t and above.
- The Bushranger Project is noted for hosting multiple copper-gold porphyry systems, with new discoveries potentially enhancing the overall economics of the project.
- Analysts from Citi consider copper priced below $9,500 per ton cheap, predicting an average price of $10,000 in the fourth quarter of this year and $12,000 by 2026, which could positively impact Bushranger.
- The exploration for copper is set to restart in April/May after the rainy season ends, which could affect the stock’s movement.
- A stock watcher highlights that major companies like Glencore often overlook potential deposits while pursuing larger ones, leading to opportunities for smaller companies to discover significant mineral deposits.
- A historic drilling program targeting a tier 1 deposit missed significant mineralisation potential, but there’s excitement about the high-grade supergene nature of mineralisation that could be missed.
- A stock watcher claims the company is now focused on copper, with a strong market for copper ahead and the company’s market cap covered in cash, suggesting the assets are undervalued.
- There’s a mention of the historic Peak Silverking drill intercepts, which include significant copper percentages and could indicate missed potential by previous explorations.