Geopolitics and Metallurgy put Copper Giant Massive Molybdenum Resource in Sharper Focus

Executive Summary

• Copper Giant released bench‑scale flotation results from a 130 kg composite of the Mocoa copper‑molybdenum project, showing recoveries of up to 92% Cu and 97% Mo, surpassing the resource model assumptions (90% Cu, 75% Mo).
• The high recoveries were achieved on relatively coarse grind sizes (P80 150–180 µm) with mineralogical analysis indicating that 97% of molybdenite is free‑grained and copper is dominated by chalcopyrite, suggesting a straightforward processing route.
• Management highlighted the strategic impact: higher metal recoveries combined with current market prices ($25/lb Mo, ~$5/lb Cu) could dramatically increase the project’s economics and value.

Key Details

• Test Sample: Single 130 kg composite core from Mocoa deposit.
• Copper Recovery: Up to 92% (bench‑scale rougher flotation).
• Molybdenum Recovery: Up to 97% (bench‑scale rougher flotation).
• Grind Size: Coarse, P80 150–180 µm (TIMA analysis).
• Mineralogy:
• Molybdenite – 97% free grains at the same grind size (TIMA‑X).
• Copper mineralization dominated by chalcopyrite.
• Deleterious Elements: Barely detected, indicating potential for clean concentrates.
• Next Steps: Optimize reagents for Cu and Mo; develop a simulated flow sheet followed by lock‑cycle testing to emulate commercial processing conditions.
• Caveat: Results are based on a single composite and may not represent the entire deposit; further variability and lock‑cycle testing required.
• Resource Context: Mocoa hosts a pit‑constrained resource of 4.6 bn lbs Cu and 511 M lbs Mo (≈30% of project value).
• Economic Implication: Current metal price assumptions used in the model were $10/lb Mo and $3/lb Cu; with market prices now ~\$25/lb Mo and ~\$5/lb Cu, the improved recoveries could add billions to project valuation.
• Management Quote (Ian Harris, President & CEO): “These first metallurgical tests… have already exceeded the recovery assumptions of 90% for copper and 75% for molybdenum used in our current resource model.”

Notable Quotes

• “The Mocoa project keeps getting better,” – Ian Harris.
• “Moly plays an important role in the green energy transformation… wind turbines, gearboxes, bearings,” – Ian Harris.
• “Our resource model was based on $10/lb moly and $3/lb copper. Moly is now selling for about $25/lb, and copper is just under $5/lb. So, the projected future economics of the Mocoa project are changing radically.” – Ian Harris.