Coda Minerals
Financials:
Primary ticker: ASX:COD
Stage of development: Exploration
Primary minerals: Copper, Gold, Cobalt
Project to promote: Elizabeth Creek Copper Project
Project location: Australia
Website: www.codaminerals.com/
Coda Minerals Limited (ASX:COD) is a minerals exploration company focused on the discovery, and development of base metals, precious metals, and battery minerals. Coda is primed to unlock the value of its highly prospective Elizabeth Creek Copper Project, which is located in the heart of the Olympic Copper Province, Australia’s most productive copper belt.
Coda is currently working to further define and extend known Zambian style copper-cobalt resources across multiple prospects, including Emmie Bluff, Powerline, MG14 North and Hannibal. The Company is implementing a substantial drill programme at Emmie Bluff Deeps to rapidly and efficiently evaluate the potential for a Tier-1 IOCG system at Elizabeth Creek.
Cash: AUD8.2M (30 June 2022)
Debt: NIL
Major shareholders:
Angang Group Hong Kong (Holdings) Limited – 12.17%
Citicorp Nominees Pty Ltd – 8.32%
Mr Keith Francis Jones & Mrs Jennifer Jones – 7.27%
HSBC Custody Nominees (Australia) Limited – 6.49%
CS Third Nominees Pty Limited – 4.24%
Management Ownership – 15%
Management Profile
Chris Stevens – Chief Executive Officer & Executive Director
Mr Stevens is an experienced resources executive and mineral economist who joined Coda after holding therole of CEO at Gindalbie Metals. Prior to joining Gindalbie in 2016, Mr Stevens was the Western Australian Mining Consulting Lead at PricewaterhouseCoopers (PwC), where he managed professional teams to devise strategy, evaluate investment options and assist in delivery of major transactions for various ASX listed mining and energy companies.
Prior to joining PwC, Mr Stevens held senior roles in the mining industry including General Manager- Commercial at Asia Iron and Commercial Manager at Gindalbie Metals.
In addition to his executive resources experience, Mr Stevens has over 18 years’ experience working with Chinese companies in commercial consulting and private equity. Mr Stevens holds an Honours degree from the University of Oxford, a Master of Science in Mineral Economics from Curtin University, and is a fluent Chinese speaker.
What is your rationale for taking part 121 Mining Investment?
The company is looking for medium to long term focused investors looking for exposure to copper, gold, cobalt exploration and development in stable jurisdictions.
The Company has no short term plans to raise capital and is well funded. Seeking on market support as well as support in future capital raisings.
What recent news would you like to highlight to investors attending?
4/10/22 – Maiden Drill Programme Completed at Cameron River
Initial drilling reveals anomalous copper at multiple prospects with several key geophysical anomalies still unexplained
– Cameron River RC drill programme completed on time and on budget, with 27 holes drilled for over 2,800m.
– Samples are currently being prepared for assay, with results expected later this calendar year.
– Copper bearing system identified, with anomalous copper confirmed by pXRF.
8/9/22 – New Exploration Tenure Granted in Victoria
– Coda has been notified of the grant of three new Exploration Licences in Victoria.
– The grant of this exploration tenure is the result of legacy applications by Torrens Mining Ltd, which was acquired by Coda Minerals in May 2022.
– Given that its core focus remains on the Elizabeth Creek Copper Project in South Australia and the Cameron River Copper Project in Queensland, Coda is currently evaluating strategic options with regard to the Victorian tenure.
6/9/22 – Drilling Commences at Cameron River
Multiple highly prospective geochemical and IP copper-gold targets to be tested
– Drilling underway at Cameron River, located in the Mt Isa Inlier of NW Queensland.
– Drill programme to comprise approximately 30 holes for 3,000m of Reverse Circulation drilling.
– Drill programme to be undertaken on a double-shift basis with Phase 1 expected to take approx. three weeks.
18/8/22 – Final Assays from IOCG Drilling Confirm Target Areas for Follow Up
Coda Minerals advises that final assays from Phase 1 drilling at the Emmie IOCG prospect, part of the Elizabeth Creek Project in South Australia, have been received, with results significantly enhancing the Company’s understanding of the geological structure and providing strong targets for follow up exploration.
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Initiate and advance economic pre-feasibility studies at Emmie Bluff Copper-Cobalt Deposit in South Australia.
Confirm size and scale of Emmie Bluff Deeps IOCG Discovery in South Australia.
6 Months:
Delivery economic go-forward case for overall copper-cobalt project at Elizabeth Creek.
Advance Emmie Bluff Deeps IOCG discovery towards substantial mineral inventory.
Drive major global copper explorer and developer through organic and inorganic business development.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Common to all explorers and developers, Coda faces risks in relation to commodity prices and the economics and scale of potential projects.
Coda Minerals is systematically exploring and de-risking projects through exploration and high-value feasibility work. The team takes a very direct approach to exploration with a focus on strong economic analysis and de-risking of projects.
What do you think makes your company such a compelling investment?
Coda has an exceptional portfolio of copper exploration assets combined with strong foundations of existing JORC compliance Resources.
Coda’s board has a track record of delivering significant global scale projects and taking exploration companies from early stage to multi-billion dollar companies.
Coda’s board members have been instrumental in the growth of other successful companies including Sandfire (Copper), MT Merdeka (Copper), FMG (iron ore), Goldroad (gold), and Newcrest.
What are the top 3 key investor takeaways?
Coda has an exceptional portfolio of exploration and pre-feasibility stage copper-gold and copper-cobalt assets in Australia.
Coda has a proven track record of discovery including the recent Emmie Bluff Deeps IOCG discovery in South Australia.
Coda has a highly experienced board with a track record of delivering value for investors.