Great Southern Copper PLC (LSE:GSCU) managing director Sam Garrett talked with Proactive's Stephen Gunnion about the company's strategic move to acquire the Artemisia concessions following a 90-day due diligence period.
Garrett detailed the acquisition of 1,600 hectares, which are divided into five prospect areas. These areas fill critical gaps in the company's existing project base, particularly at Victoria and Lipa, and extend known mineralisation significantly.
Garrett emphasised the strategic importance of these new prospects, highlighting that they represent immediate drill targets with substantial potential. Permitting for phase one drilling has already commenced, including at least two of the new targets, with drilling expected to begin within the next three months.
The option agreement terms include a 4-5 year period with escalating payments culminating in a total value of $2.5 million for 100% ownership of the project, alongside a 1% vendor retention. Garrett pointed out that this structure allows the company ample time to conduct exploration and confirm target viability before making the final payment.
Investors should anticipate a busy period ahead with planned drilling of 5,500 meters over the next 6 to 24 months across a minimum of four prospects, promising an intensive news flow.
