Libero Copper changes name to Copper Giant Resources
Libero Copper & Gold Corp. [LBC-TSXV, LBCMF-OTCQB, 29H-DE], a company backed by Canadian financier Frank Giustra, has changed its name to Copper Giant Resources Corp. [CGNT-TSXV] and will begin trading on the TSX Venture Exchange under the new name on May 1, 2025. There will be no consolidation of capital and the common shares of Libero Copper will be delisted.
The company recently said Giustra owns 13.12% of the shares outstanding. The shares were unchanged at 23 cents on Wednesday and trade in a 52-week range of 56 cents and 16.5 cents.
In a press release on April 15, 2025, the company said it had closed its warrant incentive program in a move that generated gross proceeds of $1.7 million from the exercise of 8.3 million outstanding common share purchase warrants, which includes Giustra and Copper Giant President and CEO Ian Harris’ exercise of 4.16 million warrants. These warrants were exercised between March 25, 2025 at an exercise price of 20 cents.
Copper Giant is an America’s-focused exploration company with a collection of porphyry copper deposits located in British Columbia, Argentina and Colombia.
With backing from Giustra’s Fiore Group, Copper Giant is developing the Mocoa copper-molybdenum porphyry deposit, which is located 10 kilometres from the town of Mocoa. Libero’s district scale holdings cover 1,000 square kilometres, an area that is 290 times bigger than New York’s Central Park. Company documents say Giustra holds an 11% stake in the company.
“The Mocoa project has an established compliant resource of 4.6 billion pounds of copper and 511 million pounds of molybdenum,” Harris said recently. In a press release on November 13, 2024, Libero announced details of an ongoing 14,000-metre exploration program that is designed to expand the resource, enhance geological understanding, and test new target areas. The program includes infill, step-out and regional drilling. “This program, adding 50% more drilling than all previous work at Mocoa, is a major step forward for the project,’’ Harris said.
The company said historical drilling intercepted high-grade copper and molybdenum cores, though with wide drill spacing. Infill drilling is designed to refine the understanding of the copper and molybdenum grade distribution in areas of wide-space drilling and to test the deeper sections of the porphyry system below the existing pit-constrained initial inferred mineral resource at Mocoa.
Step-out drilling is planned to strategically extend the overall mineral resource at Mocoa to the north and northeast, aligning with the identified plunge of the high-grade cores.
The company said surface exploration work completed to date shows four highly prospective areas close to the Mocoa copper-molybdenum porphyry deposit. Surface exploration planned for the 2024 to 2025 season will follow up the Neblina, Piedralisa and Silencio area.