The 100% owned Copaquire Copper Moly property is a circum-Pacific style porphyry copper - molybdenum open-pittable deposit similar to other Andean porphyry systems in nothern Chile. The property is surrounded by copper giants Rio Tinto, Teck Cominco, Codelco, Xstrata and Anglo American. Teck Cominco's Quebrada Blanca mine is located 10 km (6 mi) east of Copaquire and  the giant Collahuassi mine owned by Xstrata and Anglo American is located a further 7 kms (4 mi) east.

The Copaquire has a 43-101 Moly Copper resource estimate with a further resource estimate upgrade expected to be released in early September 2008. PBX has also engaged the services of  AMEC International (Chile) S.A. to deliver a Preliminary Economic Assessment (Scoping Study)  on the Copaquire molybdenum copper deposit.

The company is now focused on developing the Copaquire Sulfato and Marta copper zones which  surround the Molybdenum deposit to resource level.