While the gold price has continued to surprise the market in the past few months, copper has come into investors’ attention recently. The copper price has surged to two-year high on Tuesday, July 21, 2020, and grew by more than 50% from March’s low. When copper prices are moving beyond expectations, investors should pay attention to this Canadian exploration company with a successful track record of selling a previous company to major, focusing on copper-gold mine in Peru.
Regulus Resources Inc. (TSX V.REG) is a Canadian exploration company formed in December 2010 under the directorship of the former management of Antares Minerals Inc. (TSX V.ANM): John E. Black, Dr. Kevin B. Heather and Mark Wayne. Regulus was created through the spin-out of the Rio Grande Cu-Au project in Argentina at the conclusion of the sale of Antares to First Quantum Minerals (TSX.FM, UK FQM) for approximately C$650 million, primarily for the giant Haquira Cu-Mo-Au deposit in Peru.
Regulus’ focus is on the AntaKori project in Northern Peru where it drilled continuously throughout 2018. The Phase I drilling program (20,332 m through to hole AK-18-027) was completed by October 2018 and was utilized to calculate the updated Resource Estimate reported on 1 March, 2019 (see news here). Upon conclusion of the Phase I drilling program, the Company entered directly into the Phase 2 drilling program.
Regulus also spun out its Rio Grande project, Aguas Calientes project and its other Argentina assets forming a new exploration company, Aldebaran Resources Inc. (TSX V.ALDE) in October 2018.
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