Copper Just Pushed Above $14k Again As Mine Disruptions Keep Piling Up

Copper headlines are starting to feel nonstop lately. FXLeaders reported copper moved back above $14k per tonne as global mine disruptions keep getting closer to record levels. Supply issues are now stacking across multiple regions at the same time: • Chile • Indonesia • Congo • parts of Africa tied to sulfur shortages Meanwhile demand still looks strong from: • AI infrastructure • power grids • renewables • electrification One number that stood out: LME copper reportedly touched around $14.2k/t again after already peaking near $14.5k earlier this year. US copper futures also previously hit a record $6.69/lb. Feels like the market spent years assuming supply would eventually catch up. Now even large miners are struggling with: • lower grades • disruptions • aging mines • rising costs That is probably why smaller copper explorers are starting to show up more often on watchlists again. One I have been following: CSE: NRED OTCQB: NREDF Still speculative obviously. No resource and no production. But Wilmac in BC is large: • around 16k hectares • roughly 160 sq km • near Copper Mountain in the Quesnel belt Recent North Lamont work showed: • 43 soil samples • highs up to 379 ppm copper • western cluster averaging around 209 ppm copper Company also has: • MetalCore AI exploration platform • non-provisional US patent filing • upcoming IP/AMT work Important caveat: soil geochemistry and geophysics are not drill results. Still feels like the macro backdrop for copper explorers looks much different now compared with the period when copper traded under $9k/t and nobody cared about future supply. NFA