Giant Mining Corp. (CSE: BFG; OTC:BFGFF, FWB:YW5) has announced its engagement with Boart Longyear Limited for reverse circulation (RC) drilling services at the Majuba Hill Porphyry Copper Deposit in Pershing County, Nevada. The drilling program, set to commence in mid-August 2024, aims to drill up to 12,800 feet across 16 holes. This contract provides flexibility as it does not specify a maximum or minimum drilling requirement.
David Greenway, CEO of Giant Mining Corp., remarked on the significance of this partnership, highlighting Boart Longyear's industry leadership and the expected insights from the upcoming drilling program.
He stated, "Engaging Boart Longyear, a leader in the drilling industry, for our Majuba Hill project represents a significant step forward for Giant Mining. We are excited about the potential insights and results this drilling program will bring starting this August. Their expertise and reputation for delivering high-quality services align perfectly with our goals for Majuba Hill."
The drilling program will target specific areas to infill and expand the mineral potential at the Majuba Hill Porphyry Copper Deposit, with a focus on expanding known mineral zones and identifying new areas of mineralization. This effort is crucial for refining the geological model of the Majuba Hill Porphyry Copper Deposit and enhancing the company's resource evaluation.
Copper, Silver, and Gold
The mining sector is currently witnessing significant positive trends, particularly in the copper and silver markets, driven by the global shift towards clean energy and technological advancements.
According to a June 20 report on Ahead of the Herd, copper is indispensable in the push for electrification and renewable energy. Copper is one of the most important metals, and more than 20 million tonnes are consumed each year across a variety of industries. The transition to clean energy heavily relies on copper, which is considered the heartbeat of the global energy economy. Millions of feet of copper wiring are required to strengthen power grids, and additional tonnes are needed for wind and solar farms. Electric vehicles also play a significant role, using triple the amount of copper as gasoline-powered cars, with more than 180 kg of copper in the average home.
Technical Analyst Clive Maund also provided a strong endorsement of Giant Mining Corp. in May, noting several key factors that make the company a compelling investment opportunity.
As the article continued, it highlighted that copper consumption by green energy sectors globally is expected to jump five-fold from 2020 to 2030, according to data from consultancy CRU Group.
This surge is driven by the need to transition from a fossil fuel-based economy to one run on clean power, including the electrification of the global transportation system, which will require a colossal boost in the production of mined materials, including copper.
Wood Mackenzie, a commodities consultancy, predicts that usage of aluminum, copper, and zinc in photovoltaics will double by 2040. Benchmark Mineral Intelligence (BMI) forecasts global copper consumption to grow 3.5% to 28 million tonnes in 2024 and for demand to increase from 27 million tonnes in 2023 to 38 million tonnes in 2032, averaging 3.9% yearly growth. Future copper usage is closely tied to meeting carbon emissions targets.
The silver market is also experiencing robust growth. In a June 19 article by Chen Lin on Streetwise Reports, silver's versatility is emphasized, as it is prized not only as a financial asset but also for its decorative properties and industrial applications. The metal plays a crucial role in clean energy technologies, particularly in the manufacturing of solar panels. The solar industry is currently experiencing rapid growth, driven by increasing environmental awareness, technological advancements, and supportive government policies. Silver has emerged as one of the top-performing commodities, surging by more than 30% and outpacing even gold. The demand for solar panels continues to surge year after year, fueled by factors such as declining prices for this alternative clean energy source and an increase in climate-related energy disruptions. Future models of solar panels are expected to require up to 150% more silver, further intensifying the demand for this precious metal.
Silver is also poised to become a critical component in the artificial intelligence (AI) sector, encompassing various fields such as transportation, nanotechnology, biotechnology, healthcare, consumer wearables, computing, and data center energy storage. The bright future of solar power is evident as leading technology companies like Microsoft, Google, Meta, and Apple are likely to turn to solar power for their AI data centers. Chen Lin further noted that the fundamentals supporting a growing silver market have continued to strengthen, and the long-term outlook is truly captivating.
Company Catalysts
The engagement with Boart Longyear marks a pivotal development for Giant Mining Corp. as it embarks on a detailed drilling program at the Majuba Hill Porphyry Copper Deposit. Boart Longyear, with over 133 years of experience in drilling services and technology development, is expected to bring high-quality and reliable results to the project. This collaboration is designed to provide additional drill holes necessary to expand and verify the continuity of copper mineralization at the Majuba Hill Porphyry Copper Deposit, thus contributing significantly to the project's resource evaluation.
David Greenway emphasized the strategic importance of this partnership, underscoring Boart Longyear's expertise in delivering top-tier drilling services. The results from this drilling program are anticipated to optimize Giant Mining's development strategies for the Majuba Hill Porphyry Copper Deposit, aligning with the company's commitment to meticulous exploration and resource management. As the company aims to meet the growing worldwide demand for precious metals fueled by initiatives like the Green New Deal, the precise data from this drilling will be instrumental in advancing the project and enhancing shareholder value.
Giant Opinions From Experts
According to Ron Struthers of Struthers Resource Stock Report on May 30, "Giant Mining Corp. is well financed with just over CA$4.4M raised in recent financings. The drill phase is coming soon, and based on past results, we know with confidence that this drill round will provide some excellent numbers." This statement underscores the company's robust financial health and the potential for significant discoveries in the upcoming drilling phase, which bodes well for its future growth.
Streetwise Ownership Overview*
Giant Mining Corp. (BFG:CSE; BFGFF:OTC; YW5:FWB)
Technical Analyst Clive Maund also provided a strong endorsement of Giant Mining Corp. in May, noting several key factors that make the company a compelling investment opportunity. Maund wrote, "The substantial financing that was announced as closed on the first of the month was oversubscribed, and any future ones are expected to be as well." This robust financial support and the oversubscription of their financing efforts indicate strong investor confidence in Giant Mining Corp.
Ownership and Share Structure
According to Giant Mining Corp., approximately 18.6% of its shares are held by insiders. The remaining shares are held by retail investors.
Giant Mining Corp. has a market capitalization of approximately CA$12,670,077.
The company's shares are traded on the Canadian Securities Exchange (CSE) under the ticker BFG, on the Deutsche Boerse AG (DB) under the ticker YW5, and on the OTC Pink Sheets in the U.S. under the ticker BFGFF, with these listings active since December 2017.
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Important Disclosures:
- Giant Mining Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. In addition, Giant Mining Corp. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Giant Mining Corp.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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