At Commodity Discovery Fund a key consideration for any investment is scale

In 1910, William Boyce Thompson and George Gunn, became interested in the Silver Queen Mine’s copper potential and bought it for US$130,000. They incorporated the Magma Copper Company and renamed the mine Magma. Exploration efforts pushed deeper underground and it soon became evident that ‘small, irregular, rich chalcocite (copper ore) zones that had first been encountered at shallow levels became more continuous with depth.’ (Hammer and Peterson, 1968).

By 1916, development activities encountered the Magma Vein, which the Arizona Geological Survey described as follows; ‘Mineralised from wall to wall at that point, this high-grade zone was 34 feet thick, and averaged 10.5% copper, 5.4 oz per ton silver and 1.3 oz per ton gold.’