Majors are predictable and risk-averse, preferring to overpay later rather than take early risks due to committee-driven decisions and job security fears.

Majors move like a pack; once fewer assets remain, musical chairs begins. Sonora was one of few billion-ton near-surface deposits globally.

Hangover fears from 2011 cycle keep majors disciplined temporarily, but investment bankers will push acquisitions as bull market progresses.

No scenario where supply keeps up long-term. Copper inventories measured in weeks, not years like gold/silver.

Global inventories at ~1 month; China processing charges at zero show concentrate tightness.

Copper is central nervous system of AI; multiple mega-trends converge on limited supply: EVs, US grid upgrade ($1.4T), data centers, AI.

Only fix is much higher price short-term; will take decade+ to catch up on supply deficit.

Current pricing mechanism is short-term vision, not incentivizing strategic national interests; allied-sourcing premiums emerging (like molybdenum).

As mining engineer, likes sectors with deposit problems not production problems; underinvestment and lack of discoveries create opportunity.

We're in early innings of multi-year bull market; public still focused on tech stocks/crypto, not metals.

Only four 1B+ ton near-surface copper deposits globally; Copper Giant is one.

Copper is currently second favorite metal after gold; early stages of real bull market and supply squeeze.

M&A advice: 'Buy what the majors are buying.' BHP sold silver stream for $4.3B to deploy into copper.

Colombia discounted by market but is stable democracy with rule of law; community relations key to success.