Alma Metals Webinar Review: Briggs Copper Project Update

Fraser Tabeart presented an update on Alma Metals (ASX: ALM), focusing on the Briggs copper project in central Queensland and the wider copper market backdrop.

Briggs project overview

Tabeart described Briggs as a major project in central Queensland and said it is a joint venture between Alma Metals and Canterbury Minerals. He said Alma holds 51% of the project and is earning to 70%.

He described Briggs as a large-scale porphyry copper deposit close to the coast and said it is the biggest underdeveloped copper project currently in Queensland, with more than 2 million tonnes of contained copper metal in the deposit, according to the presentation.

Resource scale and growth plans

The presentation noted more than 930 million tonnes of JORC third-party indicated mineralisation at surface. Tabeart said the deposit remains open to the west and at depth.

He said Alma has recently started a major infill drilling program, with about 40 drill holes planned this year for around 12,500 metres, and a similar program planned for next year. The aim is to convert the third resource to indicated status to support a pre-feasibility study.

The company also flagged four exploration holes as part of the work program, with the potential for further drilling if those targets are successful.

Project location and infrastructure

Tabeart said Briggs is around 60 kilometres from the Port of Gladstone and benefits from access to existing road, rail, power and water infrastructure.

He described the area as an established industrial hub and said the project is on freehold land with a single landowner across the main deposit and much of the associated infrastructure area. He said these features could reduce development complexity and lower upfront capital requirements.

Board and technical experience

Tabeart said Alma’s board has long-term experience in copper. He referred to:

• himself and chairman Alistair as geologists with major company experience
• John Dean as a senior executive with First Quantum Minerals
• Valentine as having long experience in the Zambian copper belt

Copper market backdrop

A significant part of the presentation focused on copper supply. Tabeart said the key issue for copper is supply rather than demand. He referred to disruptions at major mining centres in Asia, Latin America and Africa, and said these issues had contributed to a stronger copper price environment.

He said the current price environment is supportive of new copper projects and that supply constraints are likely to persist in the near term.

Summary

The webinar positioned Briggs as a large, infrastructure-supported copper project with a substantial resource base and ongoing drilling to support pre-feasibility work. The company also emphasised the experience of its board and the supportive copper market backdrop.

This article is provided for general information only and does not constitute financial advice. Investors should consider the company’s official disclosures and seek independent professional advice before making decisions.