According to research published by Allenby Capital, the discovery of a copper porphyry deposit from one of 22 untested targets in Arizona and New Mexico could transform the valuation of VANE Minerals.

Using a sliding scale depending of the size of deposit uncovered, the shares could be worth between 2 pence for a discovery with 200,000 tonnes of contained copper through to 104 pence from a 10 million tonne resource.

Analyst Neil Shah said that “The discovery of a sufficiently mineable copper porphyry will have a significant positive impact on the share price.”

The area of focus of VANE’s copper exploration activities is the Arizona New Mexico border, which is home to 60% of all US production of the metal. And its geologists have access to extensive database of the area compiled by Freeport McMoran.

In directors Clark Arnold and Steven Van Nort they have the grey beards with the knowledge and expertise required to successfully plunder this mountain of information.

The company owns uranium projects that are being used as benchmark to value the company and Mexican gold and silver production helps bankroll the business.

But copper is the major focus. It was Van Nort, taking early retirement from Freeport, who negotiated the exclusive access to more than 7,000 world wide exploration files assembled over 85 years.

VANE’s focus is the porphyry copper systems of the south-west US, and its targets on either side of the Arizona-New Mexico border.

(Sourced from www.proactiveinvestors.com.au)