... supporting our PPS, should drilling succeed.

Copper could skyrocket over 75% to record highs by 2025 — brace for deficits, analysts say

https://www.cnbc.com/2024/01/03/copper-appears-set-to-rally-more-than-75percent-by-2025-analysts-say.html *

In related research, I found that while copper was 25 cents per pound going into the Great Depression, the price fell to 4.8 cents per pound by 1932, causing many mine closures.  Fast forward by some 90 years, the price reached $4.80 per pound in 2022 - 100 times higher - now about $3.79.  According to the report cited above, we may expect to see the price up to around $6.60 per pound "by 2025" (or in 2025, depending on how one reads the story).

This opinion is based on a furthering of the "Green Revolution," which I think is losing steam.  In any case, copper prices should be going up by some measure anyway, so perhaps we can look to $6.60 per pound as an extreme upper limit of expectations.

Food for thought, in the least.

By the way, I was mistaken when I mentioned the copper-gold skarn deposit at the Copper Queen mine in Bisbee, yielding up to 21 percent copper.  The number was 23.  If our copper-gold scan at Hay Mountain mirrors the Copper Queen regarding grade, hold on to your hats. 

For comparisons, look at the producers listed here:

https://www.mining.com/the-worlds-top-10-highest-grade-copper-mines/

My point is that if drilling of the skarn at Hay Mountain hits anything over 5-8 percent, it will be a world-shaking event.  If it reaches the range of 23 percent, it is likely to take several or more years of mining before returns get down to those listed in the link above. 

Now, recall that mines and proposed mines are usually valued predominately upon ten years of anticipated production and only slightly more for anything additional. 

I am a shareholder in multiple accounts, so note my bias. 

VP in AZ

*  I think the CNBC story is overly optimistic.  I see the so-called "green revolution" as fading.  More abundant and cheaper oil and gas are part of the reason, along with a dimming of the former glow from the EV markets.