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Mining Co. Notable for Prospective Copper Assets
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The Quick Take

  • Red Cloud initiated coverage on Libero Copper and Gold, its favorite copper explorer, with a Buy rating and a CA$1.40 per share target price.
  • Red Cloud ranks Libero Buy because it offers investors exposure to a pipeline of porphyry copper projects and has an existing resource, reported mining analyst Taylor Combaluzier in a Jan. 9 research note.
  • Libero is significantly undervalued, trading at a sizable discount to its peers.
  • The copper company's projects are:
    • Mocoa, in Colombia, with a large existing resource and offering big upside.
    • Big Bulk and Big Red, in British Columbia's Golden Triangle, each of which could result in an economic discovery as 2021 drill results showed a mineralized system present at both.
    • Esperanza in Argentina's prolific Huachi Mining district, which could be another Filo del Sol project.
  • Mocoa's existing Inferred resource consists of 4,600,000,000 pounds of copper 511,000,000 pounds of molybdenum.
  • Libero plans to carry out drill programs at all four projects this year.
  • With CA$14.8 million on the balance sheet, the explorer is fully funded through 2022.
  • The company's management team has experience in developing world-class copper deposits.
  • Libero shareholders include Anglo Asian Mining (19.9%), B2Gold (4.3%), Sprott Asset Management (3.3%), and U.S. Global Investors (2%).

This year, Libero Copper and Gold Corp. (LBC:TSX.V:, LBCMF:OTCQB) intends to advance all four of its copper projects via drilling, reported Red Cloud Securities analyst Taylor Combaluzier.

A rig is now being mobilized to Mocoa for the upcoming 5,000 meter (5,000m) expansion drill campaign.

"We firmly believe Mocoa is a hidden gem in Libero's portfolio," Combaluzier wrote, adding the project's current inferred resource is 636,000,000 tons of 0.45% copper equivalent, using a 0.25% grade cutoff. "We believe drilling success that allows Libero to expand the resource or upgrade the existing Inferred resources to a higher classification level could potentially help push the stock higher."

The analyst noted that Mocoa is located in a mining-friendly jurisdiction that wants to become the world's third largest copper producer and, thus, play a key role in the global transition to green energy. This is advantageous to Libero.

Combaluzier pointed out that the explorer's projects Argentina and British Columbia offer "vast exploration potential." As such, Libero plans to drill 5,000m at Esperanza this year to confirm the depth and size of the target there. The explorer is waiting to receive the necessary drill permits, which are expected in Q1/22. Drill campaigns at Big Red and Big Bulk also are schedule to take place in 2022, starting in July.

Overall with its copper assets, Libero is well-positioned, Combaluzier purported, to capitalize on the future demand for copper, by the world and by the mining majors, driven by the global shift toward electric vehicle and green energy use.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Libero Copper and Gold, a company mentioned in this article.

Disclosures and Disclaimers, Red Cloud Securities Inc., Libero Copper & Gold Corp., Feb. 9, 2022

Red Cloud Securities Inc. is registered as an Investment Dealer in all Canadian provinces and territories, and is a member of the Investment Industry Organization of Canada (IIROC). Part of Red Cloud Securities Inc.'s business is to connect mining companies with suitable investors. Red Cloud Securities Inc., its affiliates and their respective officers, directors, representatives, researchers and members of their families may hold positions in the companies mentioned in this document and may buy and/or sell their securities. Additionally, Red Cloud Securities Inc. may have provided in the past, and may provide in the future, certain advisory or corporate finance services and receive financial and other incentives from issuers as consideration for the provision of such services.
Red Cloud Securities Inc. has prepared this document for general information purposes only. This document should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided has been derived from sources believed to be accurate but cannot be guaranteed. This document does not take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. Recipients should rely on their own investigations and take their own professional advice before investment. Red Cloud Securities Inc. will not treat recipients of this document as clients by virtue of having viewed this document.
Red Cloud Securities Inc. takes no responsibility for any errors or omissions contained herein, and accepts no legal responsibility for any errors or omissions contained herein, and accepts no legal responsibility from any losses resulting from investment decisions based on the content of this report.
Company Specific Disclosure Details:
The analyst has visited the head office of the issuer or has viewed its material operations.
The issuer paid for or reimbursed the analyst for a portion or all of the travel expense associated with a visit.
In the last 12 months preceding the date of issuance of the research report or recommendation, Red Cloud Securities Inc. has performed investment banking services or has been retained under a service or advisory agreement by the issuer.
In the last 12 months, a partner, director or officer of Red Cloud Securities Inc., or the analyst involved in the preparation of the research report has received compensation for investment banking services from the issuer.
The analyst who prepared this research report has a long position, in the issuer’s securities.
Taylor Combaluzier, P.Geo. | Mining Analyst:
The analyst who prepared this research report has a short position, in the issuer’s securities.
Red Cloud Securities Inc. and its affiliates collectively beneficially owned 1% or more of any class of issuer’s equity securities as of the end of the month preceding the date of issuance of the research report or the end of the second most recent month if the issue date is less than 10 calendar days after the end of the most recent month.
A partner, director or officer of Red Cloud Securities Inc. serves as a Director or Officer or Advisory Board Member of the issuer.
A partner, director or officer of Red Cloud Securities Inc. or any analyst involved in the preparation of a report has, during the 12 preceding months, provided services to the issuer for remuneration other than normal course investment advisory or trade execution services.
The analyst who prepared this research report was compensated from revenues generated solely by the Red Cloud Securities Inc.’s Investment Banking Department.
Red Cloud Securities Inc. is a market maker in the equity of the issuer.
There are material conflicts of interest with Red Cloud Securities Inc. or the analyst who prepared the report and the issuer.
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