- Focused on copper and gold deposits
- Exciting discoveries at the flagship Main Ridge project in Jamaica
- Acquired "transforming" 5,696-hectare, drill-ready copper-gold project in Peru’s Andahuaylas-Yauri belt
What Carube Copper does:
With eleven licenses covering 536 square kilometres, Carube is taking advantage of its first-mover status by exploring Jamaica’s historic copper and gold workings.
The company also has three porphyry related projects in British Columbia and 100% ownership of the highly prospective Steward Brook Gold (SBG) project in Nova Scotia.
Its latest asset expansion is the Jasperoide copper-gold project in Peru, which the company completed the acquisition of in February 2020.
Carube's other assets are its management team. Chairman Tony Manini was instrumental in building one of the biggest success stories in recent Australian mining history, Oxiana. He went on to be a founder of investment vehicle Tigers Realm, which backs all sorts of copper opportunities around the world, and which has had multiple successes.
Director Yale Simpson helped build Exeter Resource Corporation, a company that was eventually sold to Goldcorp for nearly C$200mln. Sean Harvey was President of TVX Gold before it was sold to Kinross, and Zimi Meka is the founder and chief executive of Ausenco, one of the mining industry’s leading consulting companies.
Stephen Hughes, Carube CEO and president, ran the geology for Asiamet (LON:ARS), which has rapidly been growing its resource base in Indonesia. In total, he has led the delineation and discovery of more than two billion tonnes of copper resources in Asia over the past twenty years and spent a considerable part of that time working for Freeport McMoRan.
How is it doing:
Carube marked the start of 2020 by finalizing its “transforming” acquisition of Latin America Resource Group (LARG), where the biggest asset is the 5,696-hectare, drill-ready Jasperoide copper-gold project in Peru’s Andahuaylas-Yauri belt. The company announced its intentions to acquire the private explorer in August 2019.
Under the deal, shareholders of Latin American Resources received 3.1 Carube shares for each share LARG share held on August 26, 2019, giving the investors a 28% capital stake in Carube.
LARG has the right to nominate two directors to Carube’s board and, at the end of February, Carube welcome the appointment of Kimberly Ann Arntson, a nominee of LARG, to its board
At the same time, Carube also made moves to strengthen its management team amid the company’s expansion.
Chairman Tony Manini took over the role of executive chairman to drive the ongoing development of the company and its projects, supported by Jeff Ackert, vice president of business development and newly appointed chief consulting geologist, Dr Stuart Smith.
The company made the changes after CEO Stephen Hughes took a temporary leave of absence from his post due to personal health issues.
Carube, which said in March it had got shareholder approval for plans to change its name to C3 Metals, raised C$2.5 million in December 2019 via a private placement of up to 50 million shares at a price of $0.05 per share.
- Full assay results from the Mackenzie project
- Integration of LARG’s assets and assessing new acquisition opportunities
- Follow up geophysics, prospecting and mapping at SBG, followed by drilling program depending on results
- Assessment of growth acquisition opportunities
- Secure top tier copper and gold projects
What the boss says:
Following the acquisition of LARG, Carube CEO Stephen Hughes commented: “For the past two years Carube has been systematically searching the Americas for a copper and gold opportunity with company maker potential.
“LARG's Jasperoide project displays all the attributes we have been looking for and the signing of this (letter of intent) is a major step forward as we look to grow significant value for all our stakeholders through well-targeted and successful project exploration and development. The underlying supply-demand fundamentals for copper remain strong and we believe the quality and timing of this acquisition represents an exceptional opportunity for Carube."
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