No qualifying author-owned investment thesis was confirmed in this post.
The author explicitly states the asset is on a watchlist and describes it as speculative with no production, failing to provide a directional investment judgment.
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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