Western Copper Corporation (TSX:WRN) is an exploration and development company with significant gold, copper and molybdenum resources and reserves in four Canadian properties. It started trading in May 2006 after being spun out from Western Silver Corporation which was acquired by Glamis Gold for its Peñasquito Project.
Western Copper's flagship asset is the Casino project located 300 km northwest of Whitehorse, Yukon, which has reserve of 8 million ounces of gold, 4.4 billion pounds of copper, and 475 million pounds of molybdenum, contained in approximately 1 billion tonnes of ore. A positive pre-feasibility study was completed in August 2008, projecting a 30 year mine life with a 20.4% pre-tax IRR, C$1.8 billion NPV (8%) and a 3.8 year payback period.
The Company's Carmacks project, located 200 km northwest of Whitehorse, Yukon, is a near term producer and is permitted for construction. It will produce 32 million pounds of cathode copper per year at a cash cost of US$ 0.84/lb of copper. A positive feasibility study was completed in May 2007.
The Company has two other copper projects in its development pipeline: Island Copper Project in British Columbia and Redstone in the Northwest Territories.
Corporate Profile on Stockhouse
F. Dale Corman B.Sc., P.Eng.
Chairman & CEO
Mr. Corman graduated with a Bachelor of Science degree in geology from Rensselaer Polytechnic Institute in Troy, New York, in 1961 and obtained Professional Engineer status in Ontario in 1972. He has 30 years experience as a senior corporate officer of publicly listed companies in Canada and the United States. He has extensive expertise in mineral and geothermal exploration and development, property evaluation and acquisition, project financing, and corporate management. From 1995 to 2006, Mr. Corman was Chairman of the Board of Directors and Chief Executive Officer of Western Silver Corporation.