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Copper Prices Could Climb 50% as AI, Green Energy and Defense Spending Drive Demand
Disseminated on behalf of Gladiator Metals Corp.
Copper is becoming an indispensable industrial commodity, akin to oil’s prominence in past decades, according to leading commodities analyst Jeff Currie.
Copper prices are hitting record highs, with benchmark prices in London around $10,000 per ton, more than double the lows seen during the pandemic in early 2020.
Currie attributes this surge to new economic forces such as artificial intelligence (AI), the growth of data centers, and the green energy revolution, along with increased military spending on new weapons systems.
“Copper is the new oil,” he stated on Bloomberg TV, calling it “the highest-conviction trade I’ve ever seen.”
Copper has traditionally been a key industrial indicator due to its wide range of uses in manufacturing, construction, and electronics. However, the recent influx of billions of dollars into AI and renewable energy presents a new dynamic for copper’s future. Currie, who made a similar prediction in 2021 while at Goldman Sachs, believes this time is different due to the combined demand from AI, green energy, and the military.
Despite high demand, supply remains tight since bringing new copper mines online can take 12 to 26 years. Currie predicts this imbalance will drive prices to $15,000 per ton. Currently, copper prices are already at record highs, around $10,000 per ton.
At some point, prices may reach a level that causes “demand destruction,” where buyers resist high costs. However, Currie is unsure what that price level might be. Reflecting on the 2000s, when crude oil prices soared from $20 to $140 per barrel, he sees a similar significant upside for copper.
This anticipated surge in copper demand aligns perfectly with the strategic positioning of companies like Gladiator Metals Corp. (TSXV:GLAD) (OTCQB:GDTRF) (FSE: ZX7) a mineral exploration company focused on the advancement and development of multiple high-grade copper prospects in Canada’s Whitehorse Copper Belt.
Gladiator Metals’ Whitehorse Copper Project in the Yukon is notable for its significant high-grade copper mineralization, supported by recent geophysical surveys and historical drilling results that found high copper grades ranging from 1.42% to 1.54%, with potential by-product credits of gold, silver, and molybdenum potentially enhancing the value of the recovered materials by up to 25%. and recent geophysical surveys.
The project includes 30 known prospects within a 35 km by 5 km belt and is strategically located in a stable, mining-friendly Tier-1 jurisdiction with excellent infrastructure, including roads and grid hydro power, supporting lower-cost, low-emission copper production.
Previously owned by Hudbay Minerals, the project produced around 10 million tons of copper at approximately 1.5%. However, Hudbay only scratched the surface, lacking the technology to fully unlock the potential of these deposits, giving Gladiator Metals a unique opportunity to uncover substantial new resources.
Having already completed 7,000 meters confirming historical drill results, Gladiator Metals is targeting a potential future resource of 100 million tonnes at 1.5-2% CuEq.
Gladiator Metals Unveils High-Grade Copper Finds at Cowley Park Prospect
On May 23, Gladiator Metals Corp. (TSXV:GLAD) (OTCQB:GDTRF) (FSE: ZX7) announced significant assay results from the Cowley Park prospect at the Whitehorse Project. These results are from historical drill holes that had not previously been logged or assayed and further define the continuity of high-grade copper skarn mineralization at Cowley Park.
Key drill results include 10.3 meters at 1.92% Cu and 1,459 ppm Mo from 131.7 meters in hole 19-CP-14, 10 meters at 1.07% Cu from 49 meters (within 24 meters at 0.63% Cu from 35 meters) in hole CP-149, and 8 meters at 1.02% Cu from 105 meters in hole CP-159. The interval in CP-159 represents the most south-easterly intercept of copper skarn mineralization to date, with mineralization remaining open under cover.
These findings also highlight several promising exploration targets: the South Eastern Extension could expand the mineralized system, the North Eastern Extension remains open with significant historic intercepts like 43.28 meters at 2.24% Cu, and additional unexplored sub-parallel trends show great potential. Mineralization remains open at depth, with significant intervals like 14.33 meters at 1.22% Cu from recent drilling still unexplored.
“These new results, combined with geological modeling of the Cowley Park prospect have highlighted multiple new areas of exploration upside undercover away from the known mineralization. These areas are key targets for summer exploration programs,” said Gladiator Metals CEO, Jason Bontempo.
With a tight share structure of 40 million shares, 34% of which are owned by insiders, and a planned 25,000 meter drill program over the next 12 months, Gladiator Metals is strategically positioned to become a major player in the copper industry.
Visit this website or explore their corporate presentation to learn more about Gladiator Metals Corp. (TSXV:GLAD) (OTCQB:GDTRF) (FSE: ZX7).
Featured Image @ Pixabay
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