Being in the same region as Rio Tinto plc’s (LON:RIO) massive Oyu Tolgoi Copper-Gold Project and adjacent to the world’s biggest copper consumer China are sufficient reasons to make Xanadu a compelling story.
Adding to this is the growing economic viability of the world-class Kharmagtai project as well as increasing global demand for copper and strong gold prices.
The company’s managing director and CEO Andrew Stewart will outline the company’s story to investors at next week’s Proactive CEO Sessions in Sydney and Melbourne.
Kharmagtai has an open cut resource estimate of 598 million tonnes containing 1.9 million tonnes of copper and 4.3 million ounces of gold.
Within this is a shallow open pittable high-grade resource of 54 million tonnes at 0.86% copper equivalent for 317,000 tonnes of copper and 1.13 million ounces of gold.
A scoping study for the open pit development has confirmed the viability of near-surface copper and gold mineralisation as well as the company’s strategy to explore for high-value large copper porphyry systems in the area.
It has identified opportunities for further upside from extending the life of the planned open pit mine, assessing higher-grade underground options and evaluating oxide gold potential near-surface at several locations.
Stewart will also speak about the demand fundamentals for copper boosted by a looming supply crunch and growing demand for new supply.
Traditional drivers of demand are accelerating Chinese infrastructure development and the continuing rise of India while new trends are electrification of energy demand and transport along with wind and solar energy.
Register for the CEO Sessions today