top of page

Share Watch – Tempest Minerals and others

Updated: Sep 25, 2022

Share Watch –  Tempest Minerals and others

Tempest Minerals

From Stockhead:

What are the chances of three copper discoveries on the ASX in three days? Slim-to-none, and yet here we are.

Last Monday, Tempest Minerals (ASX:TEM) surged 265% after making a big copper discovery in its very first hole at ‘Orion’, part of the flagship ‘Meleya’ project in WA.

On Tuesday, newly listed Recharge Metals (ASX:REC) hit 300m of copper mineralisation in drilling at the flagship ‘Brandy Hill South’ project, also in WA. It gained 238% for the day.

On Wednesday, Culpeo Minerals (ASX:CPO) was making similar gains in early trade after hitting the copper motherlode in its very first drillhole at the historical ‘Lana Corina’ project in Chile.

This explorer listed on the ASX September 10 with a couple of porphyry projects in Chile — ‘Las Petacas’ and ‘Quelon’ — and only entered into an agreement to acquire 80% of Lana Corina earlier this month.

The highlight hit includes 200m of visible sulphide copper from 50m to 250m depth. Just look at this beautiful core:

The high-grade copper at Lana Corina is associated with three known ‘breccia pipes’ occurring in the upper levels of a large copper bearing porphyry system.

These breccia pipes, which outcrop at surface and extend to a vertical depth of +200m, have already returned high copper grades from drilling and historic underground sampling.

CPO’s 4,000m drill program is ongoing, with first assays expected in about six weeks.

“We are excited about the intersection of significant amounts of copper sulphides in this first hole,” managing director Max Tuesley says.

“This provides further confidence in the prospectivity of Lana Corina and its potential to host a significant copper deposit.

“We look forward to reporting assay results from the drilling program in due course and view Lana Corina as a key component of our high-quality copper portfolio in Chile.”

Financial indicators

The VIX fear gauge down by 11.12 points since 13 March to 19.63 and believe it or not, back into the safe zone.

The Dow Jones Industrial Average up 1,874.08 points or 5.69% since 3 March to 34,818,27, the STOXX 600 up 26.57 points or 6.15% to 458.34 and the Shanghai Composite index down 27.03 points or 0.17% to 3,282.72.

Gold down to 1,928.50. US 10-year Treasury Bonds up to 2.385 and oil down to 99.42. Cryptos Bitcoin up by 7,251 points or 18.53% to 46,389.

ASX 200 up 430.20 points or 6.09% since 13 March to 7,493.80. The Aussie dollar up to 75.01 US cents.

Carbon Market Spot Prices

LGC $48.00                                                     STC $39.90

ESC $35.75                                                     VEEC $65.00

ACCU $30.50                                                  EU ETS €76.48

NZU $NZ76.00                                                 UK ETS GBP76.78

0 views0 comments
bottom of page