Pecoy Copper: Copper Gold Deposit in Peru | Vincent Metcalfe and Jimmy Connor

Summary

Pecoy Copper is advancing an 860M-ton inferred copper-gold deposit in Southern Peru at 1,645m elevation, with 40,000m of drilling planned this year.

Year-round drilling in the Arequipa region keeps results flowing every 4-6 weeks, supported by three local labs delivering 2-3 week assay turnaround.

Low elevation cuts all-in drill costs to roughly $400 per meter, several times cheaper than high-altitude Andean peers such as Filo.

Lowering concentrate grade from 27% to 22-24% lifted Pecoy's gold recovery from 40% to 73%, capturing more by-product ounces in today's gold market.

Pecoy is fully funded to mid-2027 with about $38 million cash, four covering analysts, and ongoing drill plus geophysics results through year-end.

Vincent Metcalfe's takeaways

Top takeaway Argues Pecoy's core investment case is buildability — 1,645m elevation, single camp, established Arequipa mining region with existing ports, highways, and labor — which he says makes the project more attractive to potential acquirers than higher-altitude or more complex peers.

Frames the consolidation of Pecoy with Torumé (8 km north, ~3x the geophysical footprint, all nine historical holes mineralized) as positioning Pecoy Copper as a district-scale rather than single-asset story.

Says accepting a lower copper-concentrate grade (22-24% versus the historical 27%) could lift gold recovery from 40% to 73%, an attractive trade-off at the ~$45,000/oz gold price cited in the video.

Highlights the year-round drilling season, ~$400/m all-in drill cost, and 2-3 week assay turnaround through three Arequipa labs as sustaining steady news flow that high-altitude Andean peers cannot match.

Outlines near-term catalysts: 40,000m drill program in 2026, phase-two metallurgical work in late 2026, an MT geophysical survey that could justify a 2,000m step-out hole to chase the high-grade source, and continued analyst outreach (Scotia, Canaccord, Desjardins, National Bank).