Metals X Money: Interview with Dore Copper

Capital 10X interviews Dore Copper [stock_market_widget type="inline" template="generic" color="default" assets="DCMC.V" markup="(TSXV: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"]) Executive Chairman Mario Stifano to learn more about their high-grade Copper-Gold deposits in Quebec’s Chibougamau mining camp.


Capital 10X: We’re here metals X money with Mario Stefano CEO of Dore copper. Thanks for taking the time to chat.

Mario Stifano: Thank you for having me here.

Capital 10X: Excellent so why don’t we start for investors who aren’t familiar with the Dore Copper story I think they might be able to guess what metal you guys mine but you talk about the jurisdiction what stage the company’s in?

Mario Stifano: Actually we’ve mined two metals copper and gold hence the Dore name within the company name. We’re in Chibougamau, Quebec one of Canada’s biggest camps. We like to say Kirkland’s got the Kirkland camp, Pan American silver now has the Timmins camp, Yuniko has the Valdore camp, we’ve got the Chibougamau camp. This camp produced almost 9 million ounces of gold equivalent. It’s a half copper half gold so a very exciting camp. We’ve been able to lock up this camp.

Capital 10X: Excellent, I think you talked a little bit about your outlook, I mean copper and gold both looking very good on the pricing side short-term is maybe a little bit more volatile but can you talk a bit about that?

Mario Stifano: There’s very few companies out there that could say they’ve got high grade copper assets and high-grade gold assets. We have them both. In fact we got also copper gold assets so we got three core assets in this camp. As I said this was a former producing camp. We have a mill that’s a 2,700 tons per day. We got tailings which has basically 8 million tons of capacity so we’re pretty excited that we have all the infrastructure power to look at these assets to bring them back into production so we got three core assets.

I’ll quickly run through each asset. Corner Bay which is a copper rich asset we just announced results today after close. We drilled nine percent copper over seven meters so extraordinary grades, really good widths. This deposit has about three million ton resources and resources that’s measure indicating inferred we think this drill program expanded that resource base so really high-grade copper with some silver and gold credits.

We also have the Cedar Bay deposit which is again very close to our mill. Again 2,700 ton per day mill historically there was a new discovery at around the 900 meter level right at the bottom of the shaft a few holes were drilled that depth but was never followed up on and we drilled this in 2018 and we were consistently drilling our holes two to three meters, three to five percent copper but 15 to 20 grams gold so that’s extraordinary high grade copper grades, metal and the gold grade so that’s pretty exciting. We got a drill going down there right now and we’re gonna expand the zone and and you know with some luck we might have a high-grade gold discovery and copper discovery right beside our mill at Cedar Bay and then after we went public, we went public at $1.30 a share in December ,you know very tough times but we raised nine million dollars at $1.30 yeah but after we went public we also picked up the Joel Man mine and a lot of people don’t know what the Joel man mine is. It’s again within trucking distance of a mill, to be processed at our mill.

It produced 1.3 million ounces gold equivalent at 9 grams about eight and a quarter grams gold and the rest was copper silver credits. It was mined to about the 900 meter 2000 meter level. Shaft goes down to the 1150 meter level but after it shut down because the company Campbell went bankrupt with a lot of debt in 2007 during the financial crisis two holes were drilled down. They basically approved the continuation of the orebody. One hole was was just under two meters at 27 grams and the other hole was three meters or 30 grams so again this is extraordinarily high grade. This is what you will see on the Mecasa mine this is what you see at West Domes Eagle mine.

We have it at Joel man we’re seeing that Cedar Bay we have high-grade gold we have high-grade copper gold at Cedar Bay and we have high grade copper at Corner Bay all going within one mill. I don’t think there’s any other company in North America or anywhere else that has that kind of setup. You look at Ero copper you know this is similar story to Ero in many respects a little bit further behind but we’ll catch up to them pretty quickly you know they got one and a half billion market cap I think they peaked at two billion. You know West Dome is producing ninety thousand ounces they believe they got over a billion dollar market cap. You know we’re out today probably at twenty five million dollar market cap because we just don’t have the following as yet we’re new to the story and in a tough markets but when the market starts seeing the drill results we hope to deliver in the next 12 months I think you have an exciting story on our hands.

Capital 10X: I’m sure investors you mean looking keenly for those drill results. Thanks for taking the time to chat.

Mario Stifano: Thanks for having me.

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The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

Evan Veryard has a Bachelor's of Chemical Engineering from McGill University and a MaSc. of Chemical Engineering from RMC. He has over 6 years of research experience focusing on industrial materials. Address: 682 Indian Road, Toronto, Ontario, M6P 2C9. Phone: 416-721-8257.
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