Given that copper prices hit an all-time high on Tuesday and the Toronto Stock Exchange has hit multi-year highs in each of the past two days, it would seem to be a great time for copper miners to go public.
“It is [a good time to go public] if you’re in the copper space. Certainly people are supportive,” said Curis Resources Inc. CEO Michael McPhie, who is a former Business in Vancouver Forty under 40 winner and the former president and CEO of the Mining Association of British Columbia.
McPhie guided his company (TSX-Venture: ICC) through a reverse takeover of PCI-I Capital Corp. a couple weeks ago and has watched its share price jump 15% from its initial $2-per-share price offered to the public. He plans to take Curis (CUV) public on the TSX next year.
“It’s still a somewhat challenging public capital market. We had gone out to raise $28 million and we raised $38 million. We’re advancing our copper project in Arizona towards production over the next two years,” he said.
McPhie’s company remains majority-owned by Vancouver resource-sector powerhouse Hunter Dickinson, which owns stakes in nine other mining companies. (See “B.C. resource empire builder adds coppers assets” – issue 1066; March 30-April 5.)