Commodities
Copper Fever Hits as Tech Giants Rely on Strategic Metal
The copper market is gaining momentum as tech companies increasingly rely on this metal for their operations. Power Metallic Mines, a Canadian company, has released promising assay results from its winter drilling program at the Lion project in Québec.
The drill hole PML-26-116 showed 36.42 meters of copper equivalent (CuEq) at 2.83%, including 6 meters with above-average CuEq of 12.38%. The data will help establish a first NI 43-101-compliant mineral resource estimate by the end of July.
The company has also received a boost from a CAD 28 million financing round, in which commodities investor Eric Sprott participated. Analysts at GBC have set a price target of CAD 3 for the shares, significantly above the current share price of CAD 1.10.