Culpeo Minerals to trade on ASX with Chilean copper assets

Culpeo Minerals is ready to establish itself on the ASX stage later this month, armed with its impressive Chilean copper assets and prepared to demonstrate the company’s desire for growth and success within the copper mining industry. The oversubscribed IPO, which closed at US$6mn, will see investors offered up to 30 million shares at US$0.20 each as Culpeo brings three separate projects to the copper market. 

As the world depends on the discovery and production of large quantities of copper to light up the globe, Culepo’s focus on the acquisition of the red metal comes at a time where demand is going nowhere. With three projects located in an area described as “the tier-one geological endowment and mining jurisdiction of Chile”, it seems Culpeo is prepared to bid for its place among the top dogs in the copper-mining playground. 

“[Chile] is currently the world’s largest copper producer and consistently ranks as one of the best jurisdictions in the world [in which] to develop and operate mining assets,” says Geoff McNamara, Culpeo’s non-executive chairman. 

Culpeo gains ground in the copper industry

In the past three years, the company has acquired the Las Petacas, Quelon, and San Sebastian projects. Its Las Petacas asset, of which it owns almost 60%, is located in the Atacama region of northern Chile and comprises 22 guaranteed sites of exploration. Initial geological mapping of the zone has identified known copper mineralised trends, something which Culpeo is no doubt eager to ascertain as soon as possible. 

“Existing [historical] drill holes were focused on the known prospect areas at the time, but there remain large untested zones,” says Culpeo, excited at the potential of a looming high copper yield. 

Culpeo also possesses an 80% stake in Quelon and owns 100% of the San Sebastian project, similarly located in the Atacama region, with both projects returning, respectively, copper grades of up to 3% and 6.8%. 

Underexplored copper sites on course for discovery

30-year geology veteran and Managing Director at Culpeo, Max Tuesley, notes that the company has plenty to look forward to. 

“This IPO brings a portfolio of three copper focused projects together. All of these projects are under-explored and offer significant exploration upside. 

“What we are excited about is that after completing significant geophysical and geochemical exploration programmes, we can now move into drilling our near-surface targets.