Shares in Peel Mining Ltd (ASX: PEX) are creeping higher today after the company released its investor presentation for May 2021.
The Peel Mining share price is up 2.98% at the time of writing, trading at 24 cents per share.
Peel Mining is an Australian company that explores and develops precious, base, and specialty metals resources in New South Wales.
Highlights from the investor presentation
Peel Mining’s latest investor presentation focused on one thing: copper. Peel is currently pivoting the brunt of its metals mining projects towards copper as the metal hits all-time highs on the commodity indexes.
The company has interests in four main copper producing mines in the Cobar Basin and is currently drilling for a maiden high-grade copper resource at its Wirlong project.
Peel is also exploring its Mallee Bull mine for the metal, calling the central NSW region “one of [Australia’s] highest-grade undeveloped copper deposits”. The Mallee Bull mine is 100km south of Cobar on an 8,094-hectare pastoral lease owned by Peel.
The Australian miner will start drilling there at depths of approximately 60 metres and believes deposits may exist as deep as 800 metres.
The company is also touting the copper potential of highly prospective mines called Wagga and May Day, which also show anomalous potential for zinc and lead, among other minerals.
Background on Peel Mining
The company operates through three segments: it focuses on mineral exploration under its joint venture with CBH Resources at its Mallee Bull prospect, which it’s currently exploring for copper. It also has interests in mineral exploration under its farm-in agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC), although this doesn’t provide the majority of its revenue.
It also has its Peel Segment, which includes all other mineral exploration within Australia and properties 100% owned by the company. The majority of the company’s revenue is generated from the Peel segment. Its projects include other parts of Mallee Bull, the Cobar Superbasin Project, and the Wagga Tank Project.
Peel Mining share price snapshot
The Peel Mining share price has had a significant upswing over the past 12 months, rising by more than 80%. But that momentum has slowed in 2021 and the company’s share price is down 18% so far this year.
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Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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