This article was originally published on this site
Source: Streetwise Reports 07/10/2018
The Mocoa deposit in Colombia has been acquired by this copper miner.
Libero Copper Corp. (LBC:TSX.V:, LBCMF:OTCQB ) recently announced it has completed the transaction with B2Gold Corp. to acquire 100% of the Mocoa porphyry copper-molybdenum deposit in Colombia. Libero has issued 10,400,000 shares comprising a 19% stake in Libero Copper and a 2% royalty on the project.
B2Gold will have a right to participate in future equity financings to maintain its current stake.
Additionally, Libero has a right of first refusal on a sale of the royalty.
The Mocoa deposit inferred resource at a cut-off of 0.25% copper equivalent is 636 million tonnes of 0.45% copper equivalent, including 4.6 billion pounds of copper and 511 million pounds of molybdenum.
The Mocoa deposit takes its name from town of Mocoa, which is 10 km away and is near the Ecuador border. B2Gold has already conducted diamond drill programs there, 5,123 meters in nine holes in 2008 and 1,768 meters in three holes in 2012.
The Mocoa deposit lies in the Eastern Cordillera of Colombia, a 30-kilometer-wide tectonic belt. This area is also the site of Mirador (438 million tonnes measured and indicated at 0.61% copper and 235 million tonnes inferred at 0.52% copper), San Carlos (600 million tonnes inferred at 0.59% copper) and Panantza (463 million tonnes inferred at 0.66% copper).
Drill tests there have shown the copper concentrate had a grade of 24% copper with a recovery of 86% and the molybdenum concentrate had a grade of 55% molybdenum with a recovery of 83%.
Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.
1) Jake Richardson compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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 interview or the decision to write an article, until one week after the publication of the interview or article. 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, a company mentioned in this article.
( Companies Mentioned: LBC:TSX.V:, LBCMF:OTCQB , )
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer