(MENAFN- ProactiveInvestors)Mining specialist RF Ambrian has maintained its 'speculative buy' rating on Metminco (LON:MNC) after the company hired an advisor to assist its partnering process Los Calatos. The coppery porphyry project in Peru is one of two assets held by Metminco and a recent study demonstrated the potential for an underground copper concentrate operation. 'Assuming a copper price of US$3.00/lb and a molybdenum price of US$11.16/lb returns of 17% were derived from the scoping study level report indicating the development potential in a recovering copper price environment' RF Ambrian said. Meanwhile the company's Mollacas heap leach copper project in Chile has the broker notes the potential to become a low-cost 8000 tonnes per annum project; however its development will be subject to resolution of an access dispute. 'We believe that key drivers likely to affect company value over the coming months include the terms under which a partner can be attracted for the Los Calatos Project and the resolution of access-related issues at Mollacas' the broker concluded.
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