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Candente Copper $DNT.ca Agreement Signed with Forte Copper on Don Gregorio Copper-Gold Project, Peru $DNT.ca $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Posted by AGORACOM-Eric at 8:23 AM on Monday, November 30th, 2020

VANCOUVER, British Columbia, Nov. 30, 2020 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) (“Candente Copper”, “Company”) is pleased to announce that the Company has entered into an Assignment Agreement (“AA”) with Forte Copper Corp. (“Forte Copper”), on the Don Gregorio copper-gold porphyry project.

The Company entered into an Option Agreement on the Don Gregorio project with Forte Copper (previously known as Plan B Minerals) in 2017. The recently signed Assignment Agreement allows Forte Copper to move ahead with applications for drilling permits.

Under the Assignment and Option Agreements Forte Copper has the right to earn a 60% interest in the Don Gregorio property by completing the following terms:

  1. Making payments of US$500,000 to Candente; and
  2. Drilling 10,000 metres within three years of receiving drilling permits of which 5,000 metres must be drilled within two years; Forte Copper may pay $100/metre cash in lieu of metres not drilled.
  3. The Assignment Agreement is for 5 years such that if the 10,000 metres have not been drilled (including cash paid in lieu), then the property must be returned to Candente Copper Corp.

To date, the Company has received payments totalling: US$100,000 and reimbursements for fees for annual mineral rights totalling US$41,540.

Candente Copper acquired the Don Gregorio from the Peruvian government in a competitive auction in 2008. Don Gregorio covers a mineralized (copper-gold) porphyry system, that occurs within the same geological trend as Yanacocha, Cerro Corona and Cañariaco.

Don Gregorio (previously referred to as La Huaca) was discovered by Ingemmet (Peruvian government geological survey) in 1974 during a regional exploration program. In 1977, 8 holes were drilled to a maximum of 107 metres (“m”) and intersected o.22 to o.56% Cu over 15m to 100m, averaging 50m and bottoming in mineralization. These holes were not analysed for gold.

In 1992, a Newmont Buenaventura Joint Venture (“JV”) discovered a gold (“Au”) zone in surface samples covering 200m by 700m coincident with copper (“Cu”) previously delineated in a north-northwesterly trending zone. In 1995, the Newmont-Buenaventura JV drilled 4 holes in 800m. These 4 holes were also mineralized to final depths.

The 12 holes totalling 1,642m drilled to date indicate copper and gold mineralization occurs over a minimum of 400m vertically from 2,600 to 2,200 metres in elevation.

Mineral intercepts in the historic drilling include 153.3m of 0.394 percent (“%”) Cu & 0.18 grams per tonne (“g/t “) Au.

Surface samples collected to date include assays of:

  • 20m of 1.23% Cu and 0.26 g/t Au
  • 9m at 1.13% Cu and 0.90 g/t Au
  • 3m at 1.36% Cu and 0.84 g/t Au

About Candente Copper
Candente Copper is a mineral exploration company engaged in the acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.

About Forte Copper
Forte Copper is a private company that announced a go public RTO transaction with Collingwood Resources on August 18, 2020. Through its wholly owned Peruvian subsidiaries, Forte either owns, controls or, has an option to control three prospective gold and copper exploration projects in Peru. Forte Copper’s business strategy is focused on exploration target development, testing and resolution, and resource development within prominent and under-explored copper and gold regions of Peru.

Joanne C. Freeze, P.Geo., CEO, is the Qualified Persons as defined by National Instrument 43-101 for the projects discussed above. She has reviewed and approved the contents of this release.

This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente Copper relies upon litigation protection for forward-looking statements.

On behalf of the Board of Candente Copper Corp.

“Joanne C. Freeze” P.Geo.
President, CEO and Director
___________________________________
For further information please contact:

[email protected]
www.candentecopper.com

Client Feature: The 4 Reasons Goldman Sachs Believes Candente Copper $DNT.ca is a World Class Company $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Posted by AGORACOM-Eric at 12:56 PM on Friday, November 13th, 2020

The 4 Reasons Goldman Sachs Believes Candente Copper is a World Class Company

Candente Copper (TSX: DNT, BVL: DNT) owns 100% of a copper deposit in Peru and has big plans to become a miner.

Candente owns a large, economic, copper ore body in Peru waiting to be mined. Cañariaco Norte is a 100% owned feasibility-stage porphyry copper deposit.

Simply put, it is a mountainous rock body that holds 7.5 billion pounds of copper and has had multiple scientific studies propelling it along the way toward production. Strengthened by Goldman Sachs belief it is one of the top 80 copper deposits yet to be exploited and strategically guided by Australian Iron Ore giant Fortescue’s 19% inside ownership, Candente has the lowest quartile production costs that make it an intriguing project today and a must have for tomorrow.

 Reasons Why Candente Copper is A Top Small Cap Copper Company

1. Goldman Sachs has Canariacao Norte listed as one of the top 80 projects waiting to be developed worldwide and is top 42 in South America. Mining projects take a long time to be developed due to the strict standards required to prove metal content in the ground, which Candente has proven it has tremendous amounts of.

A single, contiguous, open-pit mineable deposit of 7.5B pounds Measured and Indicated and can be mined for 22 years once in production speaks to the stability of the project 

2. Supported Strategically by Fortesque’s 19.9% Ownership 

Fortesque is recognized as a global leader in the mining industry. Fortesque holds 19% Candente and became involved to advance Canariaco further into development. Fortesque committed 1$Million in January 2020 with an eye toward production and is considered a strategic investor, which means they have a long-term timeline for joint exploitation of the asset.

Fortescue is one of the largest global iron ore producers, recognized for its culture, innovation and industry-leading development of world class infrastructure and mining assets in Western Australia. This is truly a partnership which seeks to equally progress Canariaco into development and Candente into production status. The accepted odds for a discovery to find its way into production is about 1 in 1000, and speaks to the sheer difficulty of the exercise.

Candente is close to the finish line and Fortesque is there for the final push.

3. Canariaco is in the lowest quartile of production costs

Once in production Canariaco is in the lowest quartile of production costs for projects waiting to be developed Operating costs of US$0.988 per pound of copper

 Canariaco has 7.5Billion pounds of copper measured and indicated capable of generating annual production of 262,000,000lbs of copper, 39,000 oz gold & 911,000 oz silver over initial mine life of 22 yrs(@ 95,000 tpd). A long stable mine life is what attracts quality investors like Fortesque.

Canariaco is a stable, long term investment once it is producing because its output is consistent every year. The risk has been removed from the project.

4. Canariaco is the 1st of 3 projects all in the same area waiting to be discovered.

Candente has the opportunity to make further discoveries through Canariaco South and Quebrada Verde, both within a 5km trend that shares infrastructure. Management believes Canariaco Sur is a mineable deposit and will add tremendous support to shareholders in the future. Quebrada Verde demonstrates the same minerology and potential as both Norte and Sur which and requires future exploitation

Each of these projects will benefit greatly from Canariaco’s development as it will make development even cheaper than Canariaco Norte due to the infrastructure that will be in place, possible pushing Canariaco’s future overall costs even lower.

Click Here To Discover Why Candente Copper is Tomorrow’s Copper Deposit to Be Owned Today

As China Goes Green, Copper Market Expected to Tighten Further SPONSOR: Candente Copper $DNT.ca $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Posted by AGORACOM-Eric at 2:28 PM on Wednesday, November 4th, 2020
http://blog.agoracom.com/wp-content/uploads/2020/08/candente-copper-for-blog1.jpg

The most pessimistic forecasts of copper demand, and pricing, during the worst pandemic in 102 years, have failed to materialize.

From a four-year low in March, when the coronavirus slammed into Europe and North America, the red metal used widely in construction, communications, transportation and energy transmission, has mounted a serious comeback.

As of this writing spot copper is trading at $3.08 per pound, compared to around $2.10/lb in mid-March – a gain of 46%. The spot price has stayed above $3.00 since Oct. 8 – which is remarkable considering the reports of impending economic doom, amid a second wave of covid-19 infections in Europe and North America.

The following analysis by AOTH has copper showing no signs of slowing down; in fact, while the copper market was tight before the pandemic began, we expect it to tighten even further, due to a constellation of factors, starting with China.

The Chinese economy became the first major world economy to return to its pre-virus growth trajectory, when it posted positive numbers in the second quarter. Recent figures from China’s National Bureau of Statistics indicate that third-quarter GDP growth is up 4.9% from a year ago. Between April and June, Q2, the bureau reported a 3.2% rise. The Chinese are well ahead of their trading rivals as they strive to put the pandemic for which they were responsible, behind them.

According to the World Bank and the OECD, the Chinese economy in 2020 will grow 2% – the only G20 country to mark positive economic output this year. Beijing has managed to largely contain the virus in recent months after the pandemic shut down its economy. Commerce and travel have been allowed to resume, which is driving economic growth and fueling demand for copper and other industrial metals, like aluminum and nickel, whose prices are also climbing.

Other reasons for a rising copper price include covid-related restrictions imposed on the copper mining industry, along with speculative interest in the metal due to a weaker US dollar.

Copper output from the world’s top 10 producers declined 3.7% during the second quarter, due to nation-wide lockdowns in Chile, Peru and Mexico.

China’s copper dominance

Chinese growth statistics have always figured prominently in copper price forecasts – no surprise considering that China is responsible for just under half of the world’s production of copper and copper alloys semis, the industry term for first-stage products made from refined copper.

The Asian superpower is also the largest importer of unwrought copper, along with copper ores and concentrates.

Its manufacturing sector back on track, China’s copper imports rose sharply over the past four months; in September, the country imported 62% more copper than the same month in 2019. Unwrought copper imports of 4.9 million tonnes during the first nine months of the year, were up 41% from the same period last year.

According to Reuters columnist Clyde Russell, China has been vacuuming up copper, boosting the price at a time when demand elsewhere in the world was looking sickly as the virus spread.

Why is China importing so much copper? Russell claims the buying spree is being driven by Beijing’s stimulus spending following the national lockdown during the first four months of the year. But he also says it is likely that substantial volumes of copper are flowing into stockpiles, either strategic or commercial.

We agree, and have been writing quite a bit about this lately.

Obviously we can’t say for sure, given China’s opaque statistics, but we suggest a good chunk of the raw materials are going into bulking up the Chinese Military, in particular its navy patrolling the South China Sea. In other words, China is preparing for war.

The mining industry’s experience of China locking up the world’s mineral resources testifies to how far the Chinese will go to ensure their ever-growing demand for mined commodities is met.

Locking up supply

While iron ore ad copper were the hot targets of overseas acquisitions by Chinese firms as they sought to feed an economy that up until 2015 was growing at double digits, the Chinese have also gone after gold, nickel, tin and coking coal. More recently the most desired metals are those that feed into the global shift from fossil fuels to the electrification of vehicles. This has meant a hunt for lithium, cobalt, graphite, copper and rare earths – metals that are used in electric vehicles, of which China has become the world’s leading manufacturer. EVs use a lot of copper, four times as much as a regular vehicle, and China hasn’t been shy about boosting its copper reserves to meet expected demand.

Two large Peruvian copper mines are owned by Chinese companies. Chinese state-run Chinalco owns the Toromocho copper mine, while the La Bambas mine is a joint venture between operator MMG (62.5%), a subsidiary of Guoxin International Investment Co. Ltd (22.5%) and CITIC Metal Co. Ltd (15%). The Chinese-backed Mirador mine in Ecuador opened in 2019.

Most of the metal produced under these off-take agreements will NEVER come to the market anyplace other than in China. Those metals that do, can have their supply shut down any time the Chinese want.

In Brazil, Chinese banks and investment groups have committed $15 billion of a $20b China-Brazil Fund, launched in 2016 to finance infrastructure projects.

The Made in China 2025 initiative, which aims to make China’s copper industry more efficient, is expected to grow Chinese copper demand by an additional 232,000 tonnes by 2025. This isn’t counting the need for more copper for railways, electric vehicles, car motors and power transformers.

SOURCE: http://www.marketoracle.co.uk/Article67933.html

Client Feature: The 4 Reasons Goldman Sachs Believes Candente Copper $DNT.ca is a World Class Company $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Posted by AGORACOM-Eric at 9:41 AM on Friday, October 23rd, 2020

The 4 Reasons Goldman Sachs Believes Candente Copper is a World Class Company

Candente Copper (TSX: DNT, BVL: DNT) owns 100% of a copper deposit in Peru and has big plans to become a miner. Candente owns a large, economic, copper ore body in Peru waiting to be mined.

Cañariaco Norte is a 100% owned feasibility-stage porphyry copper deposit.

Simply put, it is a mountainous rock body that holds 7.5 billion pounds of copper and has had multiple scientific studies propelling it along the way toward production. Strengthened by Goldman Sachs belief it is one of the top 80 copper deposits yet to be exploited and strategically guided by Australian Iron Ore giant Fortescue’s 19% inside ownership, Candente has the lowest quartile production costs that make it an intriguing project today and a must have for tomorrow.

 Reasons Why Candente Copper is A Top Small Cap Copper Company

1. Goldman Sachs has Canariacao Norte listed as one of the top 80 projects waiting to be developed worldwide and is top 42 in South America. Mining projects take a long time to be developed due to the strict standards required to prove metal content in the ground, which Candente has proven it has tremendous amounts of.

A single, contiguous, open-pit mineable deposit of 7.5B pounds Measured and Indicated and can be mined for 22 years once in production speaks to the stability of the project 

2. Supported Strategically by Fortesque’s 19.9% Ownership 

Fortesque is recognized as a global leader in the mining industry. Fortesque holds 19% Candente and became involved to advance Canariaco further into development. Fortesque committed 1$Million in January 2020 with an eye toward production and is considered a strategic investor, which means they have a long-term timeline for joint exploitation of the asset.

Fortescue is one of the largest global iron ore producers, recognized for its culture, innovation and industry-leading development of world class infrastructure and mining assets in Western Australia. This is truly a partnership which seeks to equally progress Canariaco into development and Candente into production status. The accepted odds for a discovery to find its way into production is about 1 in 1000, and speaks to the sheer difficulty of the exercise.

Candente is close to the finish line and Fortesque is there for the final push.

3. Canariaco is in the lowest quartile of production costs

Once in production Canariaco is in the lowest quartile of production costs for projects waiting to be developed Operating costs of US$0.988 per pound of copper

 Canariaco has 7.5Billion pounds of copper measured and indicated capable of generating annual production of 262,000,000lbs of copper, 39,000 oz gold & 911,000 oz silver over initial mine life of 22 yrs(@ 95,000 tpd). A long stable mine life is what attracts quality investors like Fortesque.

Canariaco is a stable, long term investment once it is producing because its output is consistent every year. The risk has been removed from the project.

4. Canariaco is the 1st of 3 projects all in the same area waiting to be discovered.

Candente has the opportunity to make further discoveries through Canariaco South and Quebrada Verde, both within a 5km trend that shares infrastructure. Management believes Canariaco Sur is a mineable deposit and will add tremendous support to shareholders in the future. Quebrada Verde demonstrates the same minerology and potential as both Norte and Sur which and requires future exploitation

Each of these projects will benefit greatly from Canariaco’s development as it will make development even cheaper than Canariaco Norte due to the infrastructure that will be in place, possible pushing Canariaco’s future overall costs even lower.

Click Here To Discover Why Candente Copper is Tomorrow’s Copper Deposit to Be Owned Today

Candente Copper Corp. $DNT.ca Announces Election of Directors and Voting Results for the 2020 Annual General Meeting $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Posted by AGORACOM-Eric at 1:06 PM on Friday, September 18th, 2020

VANCOUVER, British Columbia, Sept. 18, 2020 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) (“Candente” or the “Company”) is pleased to announce the voting results for its Annual General Meeting of shareholders held Thursday, September 17th, 2020 in Vancouver, British Columbia.

A total of 34,206,593 common shares, representing 14.05% of the Company’s issued and outstanding shares were represented at the Meeting and all motions put forward were passed.

The following sets forth a summary of the voting results:

Number of Directors
Determining the number of Directors at six (6).

Votes For:89.75%
Votes Against:10.25%

Election of Directors
Determining the Directors to hold office until the next annual meeting of shareholders of the Company.

 Votes ForVotes Withheld
Joanne C. Freeze98.94%1.06%
Sean I. Waller94.81%5.19%
Giulio Bonifacio94.95%5.05%
George Elliott84.98%15.02%
Andres J. Milla84.98%15.02%
Agustin Pichot84.98%15.02%

Appointment of Auditor
Appointing Davidson and Company LLP, Chartered Professional Accountants, as Auditors of the Company for the ensuing year at a remuneration to be fixed by the Directors.

Votes For:96.76%
Votes Withheld: 3.24%

Approval of Unallocated Options, Rights and Other Entitlements under Option Plan
Approving, all unallocated options, rights and other entitlements under the Company’s Stock Option Plan.

Votes For: 88.95%
Votes Against:   11.05%

Shareholders Rights Plan
Confirming the Company’s Shareholder Rights Plan Agreement.

Votes For: 99.32%
Votes Against:0.68%

Other Matters
Approving, other business as may properly come before the Meeting or any adjournment thereof.

Votes For: 89.64%
Votes Against:  10.36%

About Candente Copper

Candente Copper is a mineral exploration company engaged in acquisition, exploration, and development of mineral properties.  The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, which all occur within a 5 km long structural setting.  The Cañariaco project is located in the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.

Joanne C. Freeze, P.Geo., President and CEO, is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. She  have reviewed and approved the contents of this release.

This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente Copper relies upon litigation protection for forward-looking statements.

On behalf of the Board of Candente Copper Corp.

“Joanne C. Freeze” P.Geo.
President, CEO and Director
___________________________________
For further information please contact:

“Joanne C. Freeze” P.Geo.
President, CEO and Director
Tel +1 604-689-1957
[email protected]
www.candentecopper.com

Copper Price Rallies as Chinese Scrap Shipments Sink by 50% SPONSOR: Candente Copper $DNT.ca $CN.ca $FCX.ca $TECK.ca $FMG.ca

Posted by AGORACOM-Eric at 8:47 AM on Friday, September 18th, 2020

Copper prices rallied on Friday after predictions that Chinese imports of scrap metal are likely to fall by half, forcing the country to up cargoes of concentrate and unwrought copper, which are already at record levels.

Copper for delivery in December trading in New York exchanged hands for $3.0525 per pound ($6,730 a tonne) in midday trade, up 1.8% from yesterday’s settlement and not far off two-year highs struck at the beginning of the month.

China consumes more copper than the rest of the world combined and Reuters reports the China Nonferrous Metals Industry Association told a conference on Friday that imports of secondary copper could halve in 2020, from just under 1.5 million tonnes last year.

The country wants to eliminate imports of what it deems “foreign waste” and has implemented a strict quota system. 

In a recent research report, Roskill called scrap the most vulnerable link in the global supply chain and said Chinese importers’ attempts at diversification by buying more ingot and copper granules have only had limited success, forcing importers to buy cathode from the rest of the world, where metal demand has slumped.

Jonathan Barnes, associate consultant for copper at the London-based metal and minerals researcher, noted regulations set for June that would have classified copper scrap as a “renewable resource” to enable refiners to skirt regulations have been delayed indefinitely. 

Barnes says on top of that several major shipping lines are refusing to transport scrap, fearing liability for return shipment if containerized cargoes are rejected by Chinese customs.  

Concentrate hard to come by 

Barnes says while the effects of covid-19 could decrease world consumption of the metal by 3%–4% this year, the drop in mine output and scrap flows has been greater.

Customs data show China’s unwrought copper imports (anodes and cathodes) in August declined to 668,486 tonnes from July’s record haul of 762,211 tonnes, but still up 65% from August last year.

Year to date imports now total 4.27m tonnes, up 38% from 2019 and on track to easily beat 2018’s annual record of 5.3m tonnes. 

At the same time, concentrate supplies from South America, where China sources the bulk of its mined copper, have been disrupted due to covid. 

August imports of copper concentrate fell by more than 12% from the same month last year to 1.59m tonnes on lingering supply disruptions from Peru and Chile.

SOURCE: https://www.mining.com/copper-price-rallies-as-chinese-scrap-shipments-sink-by-50/

Industry Bulletin: Roskill Sees ‘Structural Shift’ in Copper Market on Intense Buying From China SPONSOR: Candente Copper $DNT.ca $CN.ca $FCX.ca $TECK.ca $FMG.ca

Posted by AGORACOM-Eric at 10:47 AM on Friday, August 28th, 2020
http://blog.agoracom.com/wp-content/uploads/2020/08/candente-copper-for-blog1.jpg

Candente Copper is currently focused on its 100% owned Canariaco project, which includes the Feasibility stage Canariaco Norte deposit as well as the Canariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru. Canariaco is included in Goldman Sachs 84 Top Copper Projects Worldwide

An employee looks over sheets of copper cathode at Glencore’s Lomas Bayas copper operation in Chile. Credit: Glencore.

Copper was once again approaching the psychologically important US$3 per lb. level on the back of falling inventories, booming Chinese demand and pandemic hit supply from South America, the U.S. and Africa.

On Aug. 26, Copper for delivery in December trading in New York jumped 1.5% to US$2.9965 per lb. ($6,605 a tonne) in afternoon trading, bringing gains in 2020 to more than 7%, and 50% since the Covid-19 lows struck in March.

A new report from Roskill suggests the rally in copper, which has surprised many with its speed, has further to go.

Jonathan Barnes, associate consultant for copper at the London-based metal and minerals research firm, says while the effects of Covid-19 could decrease world consumption of the metal by 3%-4% this year, the drop in mine output and scrap flows has been greater.

This is most visible in the fall in inventories around the world.

Globally, total visible stocks, which include those on exchanges and bonded warehouses in China, fell by 40% from March through July to below 600,000 tonnes. LME warehouse inventories are at 13-year lows.

China is responsible for more than half of the world’s copper consumption, and the country is buying copper at record-setting rates.

“China is importing more refined metal from nearly every country suggesting a structural shift, not a temporary change,” says Barnes. 

“If you are looking for signs of panic buying, you can find evidence of that in China – total Chinese stocks represent less than two weeks’ consumption at current rates of use.”

In the rest of the world, where demand has dropped by much more relative to China, stocks represent only one week of consumption.

The lack of available scrap – imports are down 50% in the first half – after Beijing delayed new importing rules, has forced the Chinese buyers to replace secondary sources with cathode, further driving down visible inventories.

Roskill estimates a 300,000-tonne shortfall in imports of secondary materials — scrap, ingots and granules – into China from January to July.

Barnes believes global scrap flows may not normalize until the first quarter of next year, but would depend on new rules in China.

Roskill’s sources have not been able to confirm that China’s State Reserve Bureau has been buying up strategic stocks of copper, “but if they were, they probably would have done so earlier, when prices were much lower,” Barnes says.

Disruptions to mine supply could be between 750,000 to 1 million tonnes in 2020, with eight out of the 10 largest miners recording lower output during the first half of the year.

China’s concentrate imports are down year on year, while sourcing anodes from the central Africa copper belt is also hitting roadblocks.

Barnes says China’s two-year restocking cycle is rising in amplitude as the country’s dominance in the copper market increases, and he expects an 11.5% rise for the full year in copper imports.

The country has a structural copper market deficit, and it restocks whenever LME prices appear attractive. Moreover, says Barnes, China can take a long term view and use tomorrow what it does not need today.

Roskill expects trade data to show another bumper August for imports, despite being a seasonally muted month for shipments.

The copper price will likely rise further towards the end of 2020, Barnes says, and the current environment has strong parallels to the rebound in the copper price after the global financial crisis.

Copper hit a low of US$1.32 per lb. in January 2009, then surged to US$3.55 by April 2010, on its way to an all-time high of US$4.58 (more than $10,000 per tonne) in February 2011.

SOURCE: https://www.northernminer.com/commodities-markets/copper-price-to-extend-rally-on-signs-of-chinese-panic-buying/1003821456/

Agustin Pichot $DNT.ca Appointed Director Representing Fortescue Metals Group $CN.ca $FCX $BHP $TECK.ca $FMG.asx

Posted by AGORACOM-Eric at 8:13 AM on Monday, August 24th, 2020
  • Fortescue Metals Group Limited holds 19.9% shareholding in the Company.
  • Fortesque is a strategic Advisor to advance Canariaco Norte

VANCOUVER, British Columbia, Aug. 24, 2020 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) (“Candente Copper” or the “Company”) is pleased to announce that Mr. Agustin Pichot has been appointed to the board of directors of Candente Copper, representing Fortescue Metals Group Limited (“Fortescue”) who has a 19.9% shareholding in the Company.

Mr. Pichot is President of Fortescue South America and is responsible for the development of Fortescue’s mining, energy and infrastructure business across the region. 

Previously (in 2000) Mr. Pichot founded Pegas Group, a large South American sport media and marketing agency and also worked in asset management and global investment strategies in the financial sector in Argentina from 2015 to 2018.

Prior to 2010, Mr. Pichot spent 16 years as a player and national captain in world rugby representing Argentina and France.  He also served as an Executive Board Member, for both the Argentina Rugby Union and the International Rugby Board between 2011 and 2020.  A philanthropist, Mr. Pichot is also part of the executive teams of two foundations, Fundación Enrique Alberto Pichot and the Minderoo Foundation.

On another matter, John Black has advised the company that due to his many other demanding commitments, he has decided not to stand for re-election as Director at the upcoming Annual General Meeting (“AGM”) in September.  We are pleased to advise, however, that Mr. Black will stay on as an advisor to the Company and as a member of the Cañariaco Norte Technical Committee, which the Company is forming with Fortescue. 

About Candente Copper
Candente Copper is a mineral exploration company engaged in acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the Western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.

On behalf of the Board of Candente Copper Corp.

“Joanne C. Freeze” P.Geo.
President, CEO and Director
___________________________________
For further information please contact:

“Joanne C. Freeze” P.Geo.
President, CEO and Director
Tel +1 604-689-1957
[email protected]
www.candentecopper.com

Candente Copper $DNT.ca Adopts Shareholder Rights Plan $CN.ca $FCX $BHP $TECK.ca

Posted by AGORACOM-Eric at 8:07 AM on Tuesday, August 11th, 2020

VANCOUVER, British Columbia, Aug. 11, 2020 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) (“Candente Copper” or the “Company”) advises that Mr. Luis Miguel Inchaustegui Zevallos has resigned as Advisor and Director of our Peruvian subsidiary, Cañariaco Copper Perú S.A. (”Cañariaco”) and has been named Minister of Energy and Mines of Peru. 

We thank Mr. Inchaustegui for all of his excellent advice and wish him all the best in his new endeavours.

On another matter the Company also advises that the Board of Directors has adopted a new shareholder rights plan (“Rights Plan”), which is designed to encourage the fair treatment of the Company’s Shareholders in connection with any potential take‑over bid for the Company. The Rights Plan is not intended to deter or prevent take‑over bids and is similar to plans adopted recently by several other Canadian public companies and approved by their Shareholders. 

Background and Purpose of the Rights Plan

The Rights Plan will:

  1. encourage the fair treatment of shareholders of the Company in connection with any Offer to Acquire the outstanding Voting Shares;
  2. ensure, to the extent possible, that the shareholders of the Company and the Board of Directors have adequate time to consider and evaluate any unsolicited Offer to Acquire the outstanding Voting Shares;
  3. ensure, to the extent possible, that the Board of Directors has adequate time to identify, develop and negotiate value-enhancing alternatives, as appropriate, to any unsolicited Offer to Acquire the outstanding Voting Shares; and
  4. generally assist the Board of Directors to enhance shareholder value.

Take‑over bid contests for corporate control provide a singular opportunity for Shareholders to obtain a one‑time gain. After the acquisition of effective control, the opportunity for this one‑time gain normally does not re‑occur. As with most public companies, it is possible for a person to secure control of the Company through the ownership of much less than 50% of the Company’s shares. Without a shareholder rights plan, a bidder could acquire effective control of the Company over a relatively short period of time, through open market and private purchases and using various techniques permitted under Canadian securities legislation, all without making a bid available to all Shareholders. This acquisition of control would probably be an effective deterrent to other potential offerors. The person acquiring control might also be able to consolidate and increase its control, over a period of time, without the price for control ever being tested through an open market auction. Shareholder rights plans are designed to prevent this occurrence by forcing all acquisitions of control into a public offer mode.

A public offer will not necessarily achieve all of the objectives of ensuring the maximum value to Shareholders. The Rights Plan is intended to provide the Board with sufficient time to pursue alternatives and to provide Shareholders with sufficient time to properly assess any take‑over bid.

The Company is not proposing the Rights Plan in response to or in anticipation of any acquisition or take‑over bid. The Rights Plan is not intended to prevent a take‑over of the Company, to secure continuance of current management or the directors in office, or to deter fair offers for the Company’s shares. The Rights Plan does not inhibit or prevent any Shareholder from using the proxy mechanism set out in the BCBCA to promote a change in the management or direction of the Company. The Rights Plan may, however, increase the price to be paid by a potential offeror to obtain control of the Company and may discourage certain transactions.

The Rights Plan does not affect in any way the Company’s financial condition. The initial issuance of the Rights will not dilute the Company’s shares and will not affect reported earnings or cash flow per share until the Rights separate from the underlying common shares and become exercisable. The adoption of the Rights Plan will not lessen or affect the duty of the Company’s directors to act honestly, in good faith, and in the Company’s best interests. The Rights Plan is designed to provide the directors with the means to negotiate with an offeror and with sufficient time to seek out and identify alternative transactions on behalf of the Shareholders.

The Rights Plan is subject to Toronto Stock Exchange and Shareholder approval at the upcoming Annual General Meeting on September 17th, 2020.  If the Shareholders do not approve the Rights Plan, it will terminate or not become effective, as applicable. The Rights Plan will also expire if the Rights are redeemed by the Company. A copy of the Rights Plan Agreement can be requested for review to [email protected].Once the Rights Plan has been approved, it will be filed on SEDAR at www.sedar.com and posted on the Company’s website at www.candentecopper.com.

About Candente Copper
Candente Copper is a mineral exploration company engaged in acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.

At Cañariaco Norte, 7.5 billion pounds of copper have been delineated in a Measured and Indicated* resource of 752.4 million tonnes grading 0.49% copper equivalent** and an Inferred Resource of 157.7 million tonnes at 0.44% copper equivalent has also been delineated.

Fifteen drill holes have confirmed that Cañariaco Sur hosts a porphyry-copper deposit, however the average grade and full dimensions of the deposit are as yet unknown. Quebrada Verde also hosts a geochemical and geophysical target where porphyry style copper mineralization is exposed in creek beds. 

Candente Copper also holds other porphyry copper-gold exploration projects in Peru. 

Joanne C. Freeze, P.Geo., CEO, is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. She has reviewed and approved the contents of this release.

*The ‘Measured and Indicated Resource listed above consists of Measured Resources of 338.1Mt at 0.48% Cu , 0.08 g/t Au, and 2.0/t Ag (0.52% Cu Eq.), plus Indicated Resources of 414.3Mt at 0.43% Cu, 0.06 g/t Au, and 1.8 g/t Ag (o.46% Cu Eq.).  All resources quoted in this release are based on a 0.30% copper cut-off grade and 229 drill holes completed to the end of 2008.

**Copper equivalent grade including gold and silver, metal recoveries (copper 90%, gold 55%; silver 50%) and smelter returns (copper 96.5%: gold 93%; silver 90%) applied. Copper grade equivalent calculation: Cu Eq% =(Cu % + ((Au grade x Au price x Au recovery x Au smelter return%)+(Ag grade x Ag price x Ag recovery x Ag smelter return%))/(22.0462 x Cu price x 31.0135 g/t x Cu recovery x Cu smelter return%). The metal prices used are: copper US$2.50/lb, gold US$1,035/oz and silver US$17.25/oz.

On behalf of the Board of Candente Copper Corp.

“Joanne C. Freeze” P.Geo.
President, CEO and Director
___________________________________
For further information please contact:

“Joanne C. Freeze” P.Geo.
President, CEO and Director
Tel +1 604-689-1957
[email protected]
www.candentecopper.com

Agoracom Welcomes Candente Copper with Canariaco Deposit, Included in Goldman Sachs 84 Top Copper Projects Worldwide $DNT.ca $CN.ca $FCX $BHP $TECK.ca

Posted by AGORACOM-Eric at 9:18 AM on Thursday, August 6th, 2020

CANDENTE HIGHLIGHTS:

  • Canariaco Included in Goldman Sachs 84 Top Copper Projects Worldwide
    • Cañariaco in Lowest Quartile of Copper Industry Production Costs
    • Definitive Feasibility 50% Complete
    • Higher grade throughput of 0.54% CuEqMill Feed Grade during first 3 years
    • Rising Copper and Gold Prices Impacting 2011 PFS
  • Fortescue Metals Group Ltd. owns 19.92% interest
    • Joint technical committee created to identify optimum strategy for Cañariaco development

Project Highlights:

Cañariaco Norte is a 100% owned feasibility-stage porphyry copper deposit

  • A single, contiguous, open-pit mineable deposit of 7.5B pounds Measured and Indicated,
  • 1.4B pounds Inferred Porphyry Copper Deposit
  • Annual production of 262,000,000lbs of copper, 39,000 oz gold & 911,000 oz silver over initial mine life of 22 yrs(@ 95,000 tpd)

Pre-Feasibility Study

  • NPV of US $922M and IRR of 17.3% (using US$2.25 copper and an 8% discount rate)
  • Payback of preproduction capital in 4.4 years (after-tax)
  • Copper Production of 262,000,000 pounds per year
  • Initial Mine life of 22 years+
  • Throughput rate of 95,000 tonnes per day
  • Operating costs of US$0.988 per pound of copper (including onsite/offsite costs, taxes and byproduct credits)
  • Minimal infrastructure required, excellent locations for all site facilities, close to existing highway (42km away) and power grid (57km away) & abundant water at site
  • Very strong community & regional support

The Cañariaco Norte Copper Project

  • Canariaco in Top 80 Deposits slated for Development according to Goldman Sachs
    • 42 in South America –Cañariaco Included
    • Cañariaco in Lowest Quartile of Copper Industry Production Costs
  • Large scale porphyry copper–gold-silver deposit in Northern Peru
  • 7.5B pounds Measured and Indicated, plus 1.4B pounds Inferred Porphyry Copper Deposit
  • Deposit and Scope of Project Development well defined by Pre-Feasibility Studies in 2011
  • Annual production of 262,000,000lbs of copper, 39,000 oz gold & 911,000 oz silver over initial mine life of 22 yrs(@ 95,000 tpd)
  • Operating costs of US$0.988 per pound of copper (including onsite/offsite costs, taxes and byproduct credits
  • Strong Government support

Resource and Mine Plan

123 Million tonnes @ 0.58% Cu Eq (0.4% Cu cutoff) Measured

752 Million tonnes @ 0.52% Cu Eq (0.3% Cu cutoff) M & Indicated

1.0 Billion tonnes @ 0.46% Cu Eq(0.2% Cu cutoff) M & I

Current Mine Plan 728.2 Million tonnes @ 0.46% CuEqMill Feed Grade

  • Higher grade throughput of 0.54% CuEqMill Feed Grade during first 3 years

Canariaco Price Sensitivities Chart

  • Rising Copper and Silver Prices dramatically Project Economics
  • Based on 2011 Pre-Feasibility Progress Report