Will Shares Pop on News of a 10% Acquisition of this Copper Miner?

By: Tomas Ronolski - AllPennyStocks.com News

Monday, August 14, 2023

Copper demand is increasingly in a super cycle, based on its use in the production of electric vehicles. Given its key role in the green energy transition, the 10 percent purchase of a copper miner and processor could see shares of this diversified energy company pop.

Houston Natural Resources Corp (OTC: HNRC) now known as Cunningham Natural Resources Corp, announced today that it is acquiring a 10% interest in Kharrouba Copper Company, Inc with the potential to increase its position over time.

Houston Natural Resources Corp. is a diversified energy company with oil and gas interests. HNRC recently acquired a 100 percent interest in Cunningham Energy LLC, an independent producer of oil and gas based in Charleston, West Virginia. Cunningham was formed in 2008 for the purpose of acquiring, exploring and producing oil and gas in the Appalachian,Illinois and Williston Basins.

With a growing copper mining and processing business, Kharrouba began operations in 2017 and is located in Morocco. The firm plans to expand over the next 12-15 months an extensive drilling campaign to expand its reserve and resource base. The firm has encountered cobalt in a number of its mines and plans to add cobalt exploration as part of its overall exploration program.

Shares closed Friday trade at $0.0895 per share.

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