Quaterra Resources Has The Property, The People And The Partner For Large-Scale Nevada Copper Mining

TM editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

Few copper juniors hold the promise that Quaterra Resources does. Its 51 square miles in Nevada contains a past-producing mine. Its management is savvy and well seasoned. And it is backed by the strength of global player Freeport-McMoRan Nevada LLC, a wholly owned subsidiary of Freeport Minerals Corporation, which in turn is a wholly owned subsidiary of Freeport-McMoRan Inc. In this interview with The Gold Report, President and CEO Steven Dischler tells us why he believes his company's Bear project could open up a whole copper district.

Observing the Bear Deposit

Courtesy Quaterra Resources

Management Q&A: View From the Top

The Gold Report: Your latest presentation declares that Quaterra Resources Inc.'s (QTA:TSX.V; QTRRF:OTCQX) "assets have the potential to be transformed into a district-scale, long-life copper-mining operation." Tell us about your assets, and explain why you have such confidence in them.

Steven Dischler: We own 51 square miles of property in the Yerington district of Nevada. This is a district with a rich history of successful copper production in one of the world's best mining jurisdictions. We have three properties there: Yerington, which Anaconda mined at an average of 0.54% copper, MacArthur and Bear. Yerington has a mineral resource as defined under NI 43-101, and MacArthur has a preliminary economic assessment, but it is Bear that we believe could be the catalyst for the whole district.

Yerington Pit and Surrounding Copper Deposits

Source: Quaterra Resources

We own valuable water rights at Yerington specifically permitted for mining and mineral processing. We have broad-based community support for responsible mining. We have invested $28 million ($28M) in the district since 2006 with another $7.1M in planned exploration that has just begun. And we have the enthusiastic support of Freeport Nevada, which has an option to earn between a 55% and 75% interest in the project.

TGR: Tell us about the executive team's background.

SD: Tom Patton, our executive chairman, has a successful track record of taking exploration projects all the way from discovery to production. He was the president/COO of Western Silver Corp. and was instrumental in the discovery of the Peñasquito mine in Mexico, now owned by Goldcorp Inc. (G:TSX; GG:NYSE). He was also previously vice president of exploration for Kennecott, and he's got a Ph.D. in geology from the University of Washington.

Scott Hean, our CFO, comes from investment banking, including the Bank of Montreal and JP Morgan. He has an MBA from the Ivey School of Business.

I'm a mining engineer by training, with a Bachelor of Science degree from the University of Wisconsin, a master's from the University of Arizona and over 30 years of experience. I've been involved in permitting and developing mining projects across the U.S. Before joining Quaterra in 2011, I was a strategy manager with BP for a portfolio of historic mines associated with Anaconda, including Yerington. I know this project intimately, and I am passionate about it.

TGR: How important are your water rights?

SD: They are a key asset, especially as we are in a part of the country, the Western United States, where water is in short supply. We have ownership of almost 9,000 acre feet of primary ground water. Having those rights as part of the infrastructure required to build and operate a major mine is a key differentiator for us.

1 2 3 4
View single page >> |


1) Kevin Michael Grace conducted this interview for Streetwise Reports LLC, publisher of  more

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.