Midnight Sun Mining
Primary ticker: TSX.V:MMA, OTC:MDNGF
Stage of development: Exploration
Primary minerals: Copper
Project to promote: Solwezi Copper Project
Project location: Zambia
Website: www.midnightsunmining.com
We are a Canadian Exploration Company focused on our flagship Solwezi Copper Project in Zambia, located in the heart of the Zambia-Congo Copperbelt. Our project is surrounded by world-class copper mines including Ivanhoe’s Kamoa Kukula, Barrick’s Lumwana and First Quantum’s Kansanshi Mine (Africa’s largest copper producer), which is right next door. We have two strategic deals in place, the first with Bill Gates backed-KoBold Metals and the second with First Quantum, and we have put a two-fold attack plan in motion. The goal is to uncover and develop Zambia’s next generational copper deposit (KoBold), while working to determine near-term production potential from our property (First Quantum) simultaneously.
Cash: CAD 11M
Debt: NIL
Major shareholders:
Institutional Ownership 17%
Management Ownership – 12%
Financials
Management Profile
Adrian O’Brien – Director, Marketing and Communications
Mr. O’Brien is a Senior Executive and Senior Marketing Executive, with over 25 years of experience in the mining and exploration sector. He has served in roles from Investor Relations to CEO and has been involved projects spanning the continuum from grass roots discovery to development, mine build and operations. From 2018 to 2023, he served as Director of Marketing and Communications for PureGold Mining. He is a former Director & President of Kermode Resources, former Vice President of Apella Resources, former Director and President/CEO of Pro Minerals, and a former Director of the Prospectors and Developers Association of Canada.
What is your rationale for taking part in 121 Mining Investment?
We have recently announced a $15.5M earn-in with KoBold Metals to explore our Dumbwa Target, as well as a Cooperative Exploration Plan with First Quantum to develop oxide copper resources on our property, destined for the Kansanshi Mine, just 6km away. We have just raised $10M and with funding in place, potential significant near-term cashflow around the corner, we are looking for market support and new distribution.
What recent news would you like to highlight to investors attending?
Feb 20, 2024 – KoBold and Midnight Sun Join Forces –
https://midnightsunmining.com/2024/midnight-sun-and-kobold-metals-join-forces-on-the-dumbwa-target-in-zambia/
April 23 2024 – First Quantum Cooperative Exploration Plan –
https://midnightsunmining.com/2024/midnight-sun-announces-cooperative-oxide-copper-exploration-plan/
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Drilling with First Quantum – Goal is to define oxide copper resources via drill programs on two of our licenses, with near-surface oxide copper destined for First Quantum’s Kansanshi Mine (Africa’s largest copper producer). Simultaneously, KoBold Metals kick off drilling at Dumbwa, a tier-one target for a stratabound copper deposit.
6 Months:
With results from both drill programs flowing, we aim to begin planning both following phases for oxide copper and KoBold’s continued exploration work as part of their $15.5M earn-in agreement.
12 Months:
Oxide Copper Targets – If we are successful in our efforts, by 12 months, we aim to be moving oxide copper material to Kansanshi for processing, and defining additional sources of oxide copper material.
At Dumbwa, we should be starting to get an idea of the size and scale of mineralization, and continuing to explore.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
We have recently raised $10MM and are funded for all work ahead on both our oxide copper targets as well as work on our tier-one Dumbwa Target through a $15.5MM earn-in with Bill Gates backed KoBold Metals. We have gone to great lengths to de-risk this remarkable opportunity. Risks that currently remain are copper pricing, and geological results which remain beyond our control. Zambia is a safe and stable jurisdiction, with a track-record as a mining powerhouse achieving #2 global status for copper production.
What do you think makes your company such a compelling investment?
Midnight Sun has a vast 506km land package in the heart of the Domes Region of Zambia – the second largest copper producing region in the world, and the top place in the world for copper exploration. We are surrounded by world-class producing copper mines and operators, including Africa’s largest copper producer right next door – First Quantum’s Kansanshi Mine. Others surrounding us include Ivanhoe’s Kamoa Kukula, Barrick’s Lumwana Mine, First Quantum’s Sentinel Mine and China Molybdenum’s Tengke. We have discoveries across our property. We have deals in place with Bill Gates-backed KoBold Metals to explore our Tier-One exploration target; Dumbwa, and a Cooperative Exploration Plan in place with First Quantum to define potential feed sources of oxide copper for their Kansanshi Mine, which could result in significant near term positive cashflow for Midnight Sun. We are all fully funded for the work programs ahead, having just completed a $10MM raise.
What are the top 3 key investor takeaways?
We are exploring projects in the top place in the world for globally impactful copper discoveries – The Domes Region of Zambia, and we are funded for all work ahead.
We have strategic deals in place with both Bill Gates backed-KoBold Metals, and First Quantum. Drill programs on two fronts will be underway in 2024 and beyond.
We have the potential for the discovery of a transformative stratabound copper deposit, as well as the potential for significant near-term cashflow, as well as 3 remaining large targets for a transformative discovery.