u/here4loads

The author argues four simultaneous copper signals — LME copper hitting $13,619/t, Shanghai inventories falling 5.6% to 181,333 tonnes, COMEX open interest rising 4,230 contracts, and Grasberg full recovery pushed to early 2028 — indicate the market is repricing future copper availability rather than short-term volatility. Rising price with rising open interest is cited as evidence of new money entering the trade. NovaRed is presented as an early-stage beneficiary controlling a ~16,000 hectare copper-gold land package in British Columbia's Quesnel Belt, advancing geophysics and targeting work. Goldman's ~$15,000/t 2035 projection and forecasts above $7/lb into late 2026 are cited as supporting context, with the author noting these are not guarantees.

The author includes Freegold in a sub-C$3 Canadian miners basket as part of the gold+copper blend, arguing that blend hedges volatility while explorers/developers can still move on catalysts even if copper corrects. The trade is framed around 2026 copper volatility and the Q2 tariff announcement that could end U.S. stockpiling and expose oversupplied global fundamentals. Main stated risk is the same macro unwind that could dump copper despite the long-term electrification story.

The author includes Troilus in a sub-C$3 Canadian miners basket as part of the gold+copper blend, arguing that blend hedges volatility while explorers/developers can still move on catalysts even if copper corrects. The trade is framed around 2026 copper volatility and the Q2 tariff announcement that could end U.S. stockpiling and expose oversupplied global fundamentals. Main stated risk is the same macro unwind that could dump copper despite the long-term electrification story.