Impact: Neutral
World Copper provided a corporate update wherein it reflected on its accomplishments in 2021 and outlined its plans for 2022. We would highlight two key developments for the company in 2021: 1) the redefinition of the Escalones project in Chile as a copper oxide deposit and 2) the acquisition of the Zonia copper oxide project in Arizona via a merger with Cardero Resources (TSXV:CDU, Not Rated), subject to court approval. Since installing a new CEO in April 2021, we believe World Copper has taken steps to transform itself to become a development story as opposed to an exploration story. In our view, the company is poised to materially advance two high-quality copper projects in tier-one jurisdictions with PEAs in 2022.