Technical Analyst Clive Maund explains why he thinks Interra Copper Corp. (IMCX:CSE; IMIMF:OTCQB; 3MX:FRA) is an Immediate Strong Buy.
Although Interra Copper Corp. (IMCX:CSE; IMIMF:OTCQB; 3MX:FRA) is almost unchanged from when we last looked at it on October 7; its fundamental situation has improved greatly in a relatively short space of time. At the time of the last update, the company had entered into a purchase agreement for the Stars Copper Project.
The difference that this will make to the company was summed up by President and CEO of Interra Brian Thurston, who commented, "Acquiring the Stars Property is transformative for Interra. The company changes from a junior exploring to make a discovery to a junior with a discovery that is looking to define a resource. The Stars Property has two complementary exploration upsides, with an established zone of higher-grade mineralization that Interra can grow and define and a much broader under-explored area with high potential for new discovery."
This development is therefore viewed as a big "move to the right" on a chart showing the steps from exploring to being a producer. If only for this reason, the company is viewed as a candidate for revaluation, especially given its current very low valuation and, more generally, the rapidly improving outlook for the copper price. The transaction contemplated by the Purchase Agreement is expected to close on or before December 15, 2024, and is subject to customary closing conditions and approvals, including the approval of Aurwest shareholders as it relates to the sale of the Property.
The big positive news that came out following the