Taysan is a copper-gold-silver porphyry that outcrops at surface. Approximately US$50 million of historical expenditure, including 82.4 km of drilling in nearly 300 holes, has defined a Mineral Resource of 968 Mt at 0.30% CuEq. The drill database has been independently verified and a pre-feasibility study has been completed.
Measured and Indicated Resources total 459 Mt. The deposit remains open laterally and at depth.
Copper has entered a structurally higher price regime
Copper prices have climbed from around US$0.81/lbs in 2000 to an all-time high of US$6.95/lbs in September this year. Over the same period global average mined grade has dropped from 1.5%Cu to 0.5%Cu. Demand from electrification, grid investment and data centres is rising while mine supply remains constrained.
This is a seven-fold structural rerating, not a short-term cyclical spike.
J.P. Morgan expects the market deficit to approach 2Mt by 2030. Large, advanced, deposits such as Taysan are necessary to fill the gap.
