Business
Dunnedin Ventures - Annual Investor Letter
Vancouver, British Columbia--(Newsfile Corp. - January 6, 2020) - Dear Investor: From...
About this update from Kodiak Copper Corp.
[{"type":"text","content":"Dunnedin Ventures - Annual Investor LetterVancouver, British Columbia--(Newsfile Corp. - January 6, 2020) - Dear Investor: From all of us at Dunnedin Ventures, our best wishes for a successful and prosperous New Year. We are grateful for your continued interest and support and look forward to delivering exploration success in 2020. 2019 was a transitional year for Dunnedin as we saw an opportunity to capitalize on an overall market sentiment shifting in favor of copper porphyry assets over diamond exploration. To that end, we added to our project portfolio with the acquisition of two promising porphyry projects, the MPD copper-gold project in southern British Columbia and the Mohave copper-molybdenum-silver project in Arizona. Together with our Trapper copper-gold project in the northern Golden Triangle we now own 100% of three advanced-stage copper porphyry exploration projects in North America, all of which have large footprints and the potential to yield major deposits.Our strategic priority is to drill MPD and Mohave as both projects have significant discovery potential, are accessible year-round and are blessed with great infrastructure, including paved highways within a kilometre of the drill targets. In November, we achieved an important milestone and completed our maiden drill program at MPD. We are optimistic about this early round of drilling and much anticipating the drill results which are expected this month. Mohave is slated for drilling in 2020 so look out for more results and news flow throughout the year. Why Copper?It's no secret that tomorrow's sustainably-oriented world will require an abundance of copper. Battery powered electrical cars will use up to 10 times more copper than today's conventional cars and clean energy from solar and wind will need 4-6 times more copper than energy generation from fossil fuels. According to Rio Tinto, more copper will be required in the next 25 years than was consumed in the last 500 years. The recent China-USA trade deal was a catalyst that pushed the copper price to a 7-month high in December, up 8% over 7 straight sessions of gains. The global commodities market is getting more bullish on copper and as shown by the short selling position of the metal which has been decreasing dramatically over recent months while the long position is gaining. Meanwhile, the pipeline of co...