{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Company Interviews","title":"Coda Minerals (ASX:COD)– Fully Funded PFS + Continuous Drilling Set Up Big 2026","html":"","width":"100%","height":180,"duration":1443,"description":"Interview with Chris Stevens, CEO, Coda MineralsOur previous interview: https://www.cruxinvestor.com/posts/coda-minerals-asxcod-95-recovery-rate-transforms-copper-project-into-tier-1-asset-7833Recording date: 2nd December 2025As global copper markets confront a widening supply deficit, Australian junior Coda Minerals is positioning its Elizabeth Creek Copper-Silver Project as a potential solution to what CEO Chris Stevens describes as an industry crisis. Located in South Australia adjacent to BHP's Carrapateena operation and near the world-class Olympic Dam mine, the project benefits from established infrastructure in a proven mining jurisdiction.The company's economics have transformed dramatically since initial studies. At conservative base case assumptions of $9,260 per tonne copper and $30 per ounce silver, Elizabeth Creek delivers an $855 million post-tax net present value with a 35% internal rate of return. However, with copper currently trading at $11,600 per tonne and silver reaching record levels near $59 per ounce, the post-tax NPV expands to $1.9 billion with a 60% IRR. This compares to Coda's current market capitalisation of approximately $40 million.A fundamental strategic shift underpins this enhanced profile. Coda abandoned its original copper-cobalt-silver flowsheet in favor of a simplified approach focusing exclusively on copper and silver through proven leaching technology. \"If you can base the project fundamentally off two commodities with deep liquid markets, you're in a much better shape,\" Stevens explains. This eliminates the marketing and technical challenges associated with cobalt while employing methods used for roughly 20% of global copper production.With three drill rigs currently on site and a fully funded prefeasibility study targeting completion by end-2026, Coda is systematically de-risking a large, flat-lying orebody spanning 4.5 square kilometers. The recent $12.3 million capital raise was heavily oversubscribed, funding critical...","thumbnail_url":"https://img.transistorcdn.com/1wv-MFlQAgnm-ca64e5kK4984dZB0os8-HJdRVsI74M/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzEzNTcyLzE2MjM5/NTQyMDctYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}