Categories: Mining Stocks
Topics: Copper Stocks

Gunnison Copper (TSX: GCU)(OTC: GCUMF) SVP and CFO Craig Hallworth on First Copper Sales at Johnson Camp Mine, AZ, Plus Strategic Defense LOI

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the SVP and CFO of Gunnison Copper (TSX: GCU)(OTC: GCUMF) — Mr. Craig Hallworth. Craig, great to have you on. How are you this fine Friday?

Craig Hallworth: Good morning, Gerardo, and good morning to all your listeners. I'm doing wonderful today. We've got wind in our sails at the company. We've produced our first copper, we’re the newest copper producer in the country, and we've now sold it. We've got revenue on the top line and cash flow coming in, so it's a great day, Gerardo.

Gerardo Del Real: Well, listen, take a victory lap. I know there's a lot yet to do — and we'll get to that in a bit. But it’s not every day that my conversations are about the first sale of copper, especially at a time when the United States and countries around the world are recognizing copper for what it is: the most important metal for the global economy. So kudos and congratulations on the brilliant execution, sir.

Craig Hallworth: Thank you again, Gerardo. It’s clear — take a look at the markets, the copper price, the copper stocks — the whole sector is on fire. Everyone wants to get into copper. The government is stimulating it, the Department of Energy is stimulating it, and for us to bring this mine into production now, the timing couldn’t be better.

And I just want to emphasize: the copper we’re producing is completely made in this country. From ore all the way to finished product, it’s made in the United States and sold in the United States. We’re proud to be doing our part in this grand effort to boost the national supply chain. Very proud and very happy to be selling that first copper.

Gerardo Del Real: Well, that’s the perfect segue into my next question. The other bit of news was a pretty important LOI with a defense and mineral exploration tech start-up. 

Obviously, very strategic in nature but also a clear path to future collaboration. Can you give me the details on that? I thought it was one of the more interesting news releases I saw all week — and this was a week full of news because a bull market tends to bring out the press releases from CFOs and CEOs of the world, right?

Craig Hallworth: Yes. We’ve spent a lot of time at Gunnison Copper speaking with companies in the U.S. defense sector. This is an incredibly important sector for the country, and these are the companies looking to source critical minerals made here. They need secure supply chains for defense manufacturing — and that’s how we came across Lunasonde.

It’s a defense tech start-up out of Tucson. Their founder, Jeremiah Pate, was a Forbes Top 30 Under 30. I’ve met him, I’ve spoken to him — he’s a really smart guy.

The technology is being used in space exploration for when we go to Mars, the moon, even asteroids. Similar technology is used to look beneath the surface for critical minerals. Nobody’s really using it on Earth, and that’s where this company comes in. They’ve taken that space technology, improved it, and adapted it for use here on Earth.

We’re excited to be the first critical minerals company to deploy it on a large, prospective property. We know there’s copper, and we think there could be other critical minerals like gallium and possibly rare earths. This will be the first time Lunasonde’s tech is used on a property like ours, and we’re scanning it with the hope of finding a whole bunch of new materials to advance.

Gerardo Del Real: Exciting times, obviously. Let’s go over how you plan to close the year. We’ve got October, November, and December left — a short path to 2026 but still a lot of potential catalysts. Can you walk me through what the rest of the year looks like?

Craig Hallworth: Absolutely. We’re very committed and I think anyone following us sees how committed this management team is to staying busy with a lot of catalysts, news, and advancements. It’s no different for the rest of this year.

At the Johnson Camp Mine, we’ll continue ramping up. We’re starting up the Nuton Circuit in Q4 — that new technology that could revolutionize sulfide leaching. We expect our first Nuton copper production soon after, which is extremely exciting.

For the Gunnison project — that’s the flagship. Investors are buying us because they want to see that project and see us re-rate to the peer group. Right now, our price-to-NAV is about 0.15. Our peers in Southern Arizona are trading around 0.45, which implies a triple in our market cap just to catch up.

We’re at a similar stage: we have a PEA, they have a PEA. They’re not permitted but we are — under In-situ — and only need permit amendments. That’s a clear differentiator.

To help the re-rating along, we’ve been working on special studies to cut CapEx and OpEx at Gunnison. We’re planning to issue a new NI 43-101 technical report in late December or early January incorporating these results. I expect a materially improved product, which I think will excite the market and help us move toward that 0.45 price-to-NAV target — a triple from today’s valuation.

Gerardo Del Real: A lot to like and a lot to be excited about. I’m looking forward to the rest of the year and really looking forward to 2026. It should be an absolute blast. Craig, thank you so much for your time. Looking forward to having you back on.

Craig Hallworth: Thank you so much, Gerardo. Have a great day.

Gerardo Del Real: Alright. Chat soon.

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