An offtake agreement has been made with Glencore.

The company seems to be proceeding as if they are going to develop the mine themselves. They have added to their board recently.

It is possibly something they need to do to strengthen their bargaining position, but I would much prefer that HCH be bought out and developed by someone else.

End of last week the company has secured rights to the world-class Cortadera copper-gold discovery in Chile for which they handed over 44M as finalisation of the deal which was first penned in 2019.

Cortadera is in the same region as Productora a mine held as a JV with local Chilean major Compania Minera Pacifica.  Cortadera has expectations to deliver up to 724 million tonnes grading 0.48% copper equivalent for 2.9Mt copper, 2.7 million ounces gold, 9.9Moz silver and 64,000 tonnes molybdenum.

Mining in Chile has the benefit of a stable government and reliable, skilled workforce. 

Managing director Christian Easterday was quoted as saying “successful completion of this transaction has potential to lay the foundations for the creation of a globally significant new development centred around two bulk tonnage deposits at Productora and Cortadera”