Aug 21, 2026 · 17 min
Moroccan copper project targets open-pit development and market revaluation
S11 Ep98: Midweek Takeaway featuring Charlie Long, CEO of Critical Mineral Resources (LSE:CMRS) #CMRS
Critical Mineral Resources is moving a Moroccan copper project toward drilling, a maiden JORC resource and feasibility work while arguing London has undervalued its potential.
- 1Critical Mineral Resources is drilling across a largely unexplored permit area and plans a maiden JORC resource alongside feasibility work.
- 2The project’s shallow mineralisation, infrastructure and local expertise could support open-pit production with limited underground mining later.
- 3Management sees acquisition opportunities and substantial valuation upside, but says London’s weak price formation has obscured the company’s progress.
Don't miss
Charlie Long makes the case that Morocco’s shallow mineralisation, infrastructure and local expertise could support a comparatively straightforward open-pit copper development.
The brief
Charlie Long of Critical Mineral Resources describes ongoing drilling across a small fraction of the company’s Moroccan permits, with a maiden JORC resource and broader acquisitions ahead.
The proposed development case centres on shallow open-pit mining, potentially followed by limited underground work, with production ambitions tied to a long mine life and copper prices.
Morocco’s roads, power, infrastructure, surface mineralisation and local expertise are presented as practical advantages that could make construction and operation comparatively straightforward.
The hosts sketch a large gap between possible future cash flow and the company’s current market capitalisation, while Charlie argues London’s market has failed to recognise the progress.
The episode closes with the next valuation tests: a technical report, maiden JORC resource and feasibility study, alongside potential acquisitions that could expand the project’s scale.
What was said on this episode
2 statements · 2 positive
Critical Mineral Resources’ valuation could increase fivefold, tenfold, or more after market recognition.
“there will be a point, there will be a moment of recognition when people actually realise. And I think we can go up, you know, I don't know whether it's going to be a five bagger or a ten bagger or more.”
Listen at 11:01
Critical Mineral Resources aims to become a Morocco-focused mid-cap company.
“we want to be a mid-cap focused in North Africa, but most probably just do it all in Morocco because there's so many good opportunities.”
Listen at 11:30
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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