Intrepid Metals Corp. (TSXV:INTR) (OTC:IMTCF), a copper mining company advancing the Corral Copper Project in Arizona, has continued to consolidate key land positions in the area. The company announced on April 27 it had acquired additional mining claims at the Corral Copper Project by entering into a Purchase and Sale Agreement for 22 unpatented lode claims from Clive Bailey, a local landowner and professional geologist. This acquisition adds 472.5 acres to Corral, bringing the total land package to 8,972 acres, and will allow the technical team to evaluate more land as part of its work in unlocking the value from the district scale opportunity at the project. As of May 23 this year, the company also listed on the OTCQB market under the ticker ‘IMTCF’, further expanding investment access and opportunity for American investors.
Mark Morabito, a Canadian entrepreneur based in Vancouver and investor is the founder of Intrepid Metals the Chairman of the Board Mark Morabito has carved a career in the sector that spans over two decades. From the boreal forests of Labrador to Arizona’s deserts, his journey in mining and resource development has produced a track record of success, with his capital markets experience informing his leadership of Intrepid Metals.
A Capital Markets Expert
Mark Morabito’s career began in corporate finance and securities law in Toronto and Vancouver. After eight years, he transitioned to the client side, gaining experience in merchant banking, corporate development, and junior mining, where he created and led multiple resource development companies. Over the course of his career and his years of identifying, funding, developing, and managing a range of business opportunities, Morabito has raised more than US$1 billion in capital.
Perhaps one of the most significant milestones in Morabito’s career was his role at Alderon Iron Ore. Here, his negotiation secured a $400 million agreement with HBIS Group, China’s largest steel producer at the time.
A Merchant Banker with a Vision
As the founder of King & Bay, a merchant bank and public company services provider, Mark Morabito has continued his focus on identifying, funding, and developing business opportunities, both within and beyond the mining sector. Established in 2003, King & Bay is a merchant bank based in Vancouver, Canada offering services such as capital raising, financial management, legal services, administration, and strategic guidance. The company works in an array of sectors, including natural resources, airlines, and technology.
Bold Endeavours at Intrepid Metals
Intrepid Metals Corp.’s Corral Copper Project in Cochise County, Arizona is an advanced exploration and development opportunity. Despite the historical challenges of fragmented land ownership and commercial disputes in the region, Intrepid Metals has consolidated key land positions and forged positive relationships with local stakeholders. The company is now well-equipped and funded to move the Corral Copper Project toward the development stage and feasibility level studies.
Intrepid Metals’ management team has ambitious plans for the Corral Copper Project, including a planned 30-hole drill program with up to 6,000 meters of drilling. This initiative aims to confirm historical data, extend the depth and projection of mineralization, and explore untested areas within the mineralized trend.
As Intrepid Metals forges ahead with its plan to reshape the copper mining landscape in Arizona, the company does so in an environment in which copper and other battery metals are seeing unprecedented demand and investment. Mark Morabito’s goal as Chairman is to pan through the rubble of risk to find the opportunity that lies below and expand the Corral Copper Project footprint further in coming quarters.