Belt-controlling position as Colombian exploration heats up with majors entering Moving swiftly in the wake of the FARC peace deal, Royal Road has pegged a large licence position in the prospective SW of Colombia, a package we see as unrivaled among globally listed juniors in terms of size, prospectivity, and lack of exploration. The 4,500km2 package sits across the border from Cascabel (1Bt @ 0.9% Cu eq) in an area previously unexplored due to conflict. In our view, this is one of the last unexplored Tier I Andean porphyry belts. Barrick has recently moved to a 12.5% holding in the company, highlighting both the strategic nature of the license-holding and rejuvenated strategic interest in Colombia. Recent exploits at Piedra Iman and Los Andes in Nicaragua underscore the company’s technical ability and commitment to making a genuine and substantial discovery. Full Analyst report attached.
