Culico Metals
Primary ticker: TSXV: CLCO
Stage of development: Development & Production
Primary minerals: Copper, Lithium & Nickel
Project to promote: Higginsville Lithium
Project location: Australia, Canada, USA
Website: www.culicometals.com
Culico is a company founded by the former executive team of Karora Resources (TSX: KRR) focused on strategic, large scale base and battery metal project development and producing asset acquisitions. The company was spun out of Karora Resources upon its successful A$2.3Bn merger with Westgold Resources (ASX, TSX: WGX), where the management team drove a +750% return for KRR shareholders during its tenure.
Culico’s current assets include a 1% lithium royalty on certain mining interests held by Kali Metals Limited (ASX: KM1) and the right to receive a deferred consideration payment up to US$30M due to the on-sale of the Dumont project, a large-scale nickel deposit located in the mining-friendly Canadian province of Québec.
Cash: CAD$11M
Debt: /
Major shareholders:
Management ownership – 8%
Financials
Management Profile
Oliver Turner, EVP, Corporate Development – Mr. Turner was the Executive Vice President, Corporate Development of Karora Resources Inc. until it was acquired by Westgold Resources Limited in August 2024 in a A$2.3Bn transaction.
He was formerly the Senior Vice President of Precious Metals Equity Research at GMP Securities for seven years following his experience in industry as a mining engineer with Wardrop Engineering.
Mr. Turner is also part of the incoming management team (EVP Corp. Dev.) behind the recently announced (Oct 9, 2024) turnaround of Americas Gold and Silver (USA-TSX, USAS-NYSE) and is a Co-founder of Invert Inc.; a Canadian carbon reduction and removal company (www.invert.world).
Mr. Turner holds a Bachelor of Science in Mining Engineering from Queen’s University, is a CFA Charterholder and holds the Institute for Corporate Directors (ICD.D) designation.
What is your rationale for taking part in 121 Mining Investment?
Looking for strategic base metals assets (with a copper focus) and investors.
What do you think makes your company such a compelling investment?
– Team: Early investment into the team that built and sold/merged two companies: KRR for A$2.3B and KDX for US$462M.
– Metal: Focus on bae and battery metals – numerous Tier 1 projects under due diligence review
– Valuation: Incoming additional cash consideration of up to US$30M via conclusion of Dumont Nickel transaction with Waterton Global.
What are the top 3 key investor takeaways?
– Top tier team with track record of major value creation (KRR +750% A$2.3B merger, KDX +690% US$462M sale)
– Tier-1 jurisdictional focus in advanced development stage and producing copper and battery metal assets
– Attractive early entry stage for investors wanting proven team exposure in new base and battery metals vehicle.