Company
CVE:WCU
World Copper Ltd, headquartered in Vancouver, British Columbia, is a Canadian resource company focused on the exploration and development of its copper porphyry projects: Zonia in Arizona and Escalones in Chile. Both projects have estimated resources with significant soluble copper mineralization, and they boast exciting potential to expand the resource base.
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Henk van Alphen, World Copper's chairman commented: "The Board has consolidated the roles of CEO and President in recognition of our full confidence in Mr. Peterson's ability to articulate and advance the Company's strategic vision"
Some 29,389,236 shares of World Copper have been issued to Cardero shareholders based on an exchange ratio of 0.200795, and Cardero has amalgamated with 1302172 B.C. to become Zonia Holdings Corp., a wholly owned subsidiary of World Copper
"As the resource is in oxides, the project’s OPEX/CAPEX are expected to be significantly lower than typical porphyry (sulphide) projects," highlighted Fundamental's analysts
Zacks has put a US$2.03 price target on the stock, citing several upcoming catalysts such as a new PEA at Escalones and the acquisition of the Zonia copper project
The company owns the Escalones deposit, 100km southeast of the Chilean capital Santiago
Red Cloud Securities analysts noted that the firm's shares trade at a discount to peers on an enterprise value per pound of copper-equivalent of US$0.010 per pound compared to resource and PEA-stage peers, which are at US$0.018 per pound
The company said it is poised for growth as it plans the next phase of drilling at Escalones and exploration and development of Zonia against the backdrop of rising copper prices
