Southern Hemisphere hopes to cash in on rising commodity prices
PERTH (miningweekly.com) – Junior Southern Hemisphere Mining is looking for a partner to develop its Llahuin copper-gold project, in central Chile, in order to benefit from the upsurge in commodity prices.
The ASX-listed company told shareholders that, following a review of its existing assets, Southern Hemisphere has identified the potential for short-term value generation, driven by the recent rebound in global commodities.
The company pointed out that the Llahuin project holds significant value for shareholders, with the project’s economics "significantly enhanced" by the major break-out of the copper price over the last four months.
“The board sees strong prospects in the global copper market as a direct result of the new demand generated by the energy storage and electric vehicle sector,” said Southern Hemisphere chairperson David Lenigas.
“Llahuin is a large copper project and it has significant scope to not only increase in size with further drilling, but also add shareholder value as the copper price improves. Its location in Chile, being relatively low elevation and located so close to the capital, also makes it quite unique.”
Southern Hemisphere will now review a previously completed desktop scoping study of the Llahuin project, which will be disseminated to potential development partners.
“Realising short-term value for the company’s existing assets is a priority of the board. The company will now seek to add shareholder value with our existing assets, while working to identify new and exciting exploration or production opportunities in Australia and elsewhere,” Lenigas said.
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