Element 29 Chases a Billion-Tonne Copper Porphyry in Peru with a $60M Budget: CEO Richard Osmond

CEO Richard Osmond explains sponsor Element 29 Resources’ investment value proposition in this episode. Element 29 is a copper explorer in Peru, and its flagship Elida porphyry copper-molybdenum-silver project already has a 321 million tonne inferred resource. Richard says the goal is much bigger. The company wants to double the size of the pit and is targeting a tier-one deposit of more than 1 billion tonnes at about 0.5% copper equivalent, or roughly 5 million tonnes of contained copper. Element 29 is well funded to pursue that goal. It raised about $47 million in 2026, and with roughly $11 million in warrants coming due, it expects a budget of close to $60 million CAD to be spent over the coming years. Support comes from well-respected, strategic investors such as Randy Smallwood, George Brack, Ross Beaty, and Alex Gubbins.

00:00 Intro

00:43 Element 29 Overview

01:32 Richard Osmond Background

03:07 Why Peru and Copper

04:23 Finding Elida with Satellites

06:16 Location and Infrastructure Edge

08:00 Newfoundland Roots and Values

10:30 Strategic Investors and Financing

13:04 Drilling Permits and Community

15:02 Elida Geology and New Zones

17:33 Deep Drilling Vectors