Western Copper & Gold (TSX:WRN) - Large Flagship Project Will Deliver for Investors

Interview with Paul West-Sells, President & CEO of Western Copper & Gold Corp.

Our previous interview: https://www.cruxinvestor.com/posts/we...

Recording date: 16th January 2024

Western Copper & Gold Steadily Advances Flagship Casino Project, Targeting Copper Supply Shortage

Yukon-based Western Copper & Gold continues methodical progress developing its large-scale Casino copper/gold project. With backing from major mining companies Rio Tinto and Mitsubishi Materials, Western Copper looks positioned to capitalize on anticipated copper demand growth driven by the global energy transition.

In a recent interview, Western Copper CEO Paul West-Sells touted a new $6 million investment from Rio Tinto in 2023. Rio Tinto has now invested almost 10% in the company after extensive due diligence. This reinforces its confidence in Casino’s potential. Western Copper is also collaborating closely with Rio Tinto on issues like permitting, securing green power solutions for the mine, and improving Casino’s economics.

On permitting, Western Copper remains on track to submit its main application in late 2024. While final approval will take over three years, this will mark a major derisking milestone. Successfully advancing Casino through permitting could significantly re-rate Western Copper given looming copper supply shortfalls.

The company had around $28 million in cash reserves entering 2024 – sufficient to reach upcoming milestones. With Rio Tinto and Mitsubishi invested in the project, Western Copper can secure additional financing as needed to maintain progress. The major partners’ backing helps derisk Casino for new investors.

Overall, Western Copper offers leveraged exposure to long-term copper demand growth driven by electrification. Casino’s large scale and favorable economics are rare among new projects. Rio Tinto’s expanding stake signals its confidence in both Casino’s merits and Western’s capacity to steer through approvals.

While Casino’s 8+ year timeline requires patient capital, the project’s upside potential is substantial. As the energy transition accelerates and the copper market enters sustained deficits, Casino is primed to supply the next generation of global copper production. For risk-tolerant investors, Western Copper presents a unique opportunity.

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