In the mining industry, it takes a solid vision and drive to revisit and revive an abandoned project. Stephen Stewart, CEO of QC Copper and Gold (Tickers : OTCQB : QCCUF – TSXV : QCCU) joined us to discuss the latest developments at the company’s Opemiska Copper Mine Complex, and why the project is on the fast track to success. Production ended back in 1991, as the copper price made it uneconomical to continue. Now, higher copper and gold prices along with new technology is breathing new life into Opemiska. In one drill hole alone, QC found 18 g/t gold over 9 meters and 100 meters of .5% copper eq. Stephen expressed surprise at the gold discovery, since the project had never produced gold at this grade before.
He is confident that production could begin during the current bull market cycle that has seen copper hitting all time highs. (currently trading at US $4.32). Capex will be low compared to comparable new projects. The onsite infrastructure is quite good, with an onsite power station and close by access to highway and rail.
All things considered, Stephen’s business model of using the latest technology to revive and eventually reopen shuttered mines is set to pay big dividends.
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