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Top 5 Junior Copper Stocks on the TSXV (Updated December 2022)
Dec. 12, 2022 01:55PM PST
Which junior copper stocks have gained the most on the TSXV so far this year? Here are the five top performers by share price.
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Click here to read the latest best junior copper stocks article.
Copper passed its all-time price high in the first quarter of 2022, but has remained lower throughout H2.
In a review of 2022 for copper, the Investing News Network looked at what experts thought about the trends affecting the metal this past year. Going forward, market watchers expect short-term headwinds from lower Chinese demand and recession concerns, but long term the metal will benefit from its role in the green economy, as well as supply shortages.
The top junior copper stocks list below was generated on December 12, 2022, using TradingView’s stock screener, and it shows the TSXV-listed copper companies with the biggest share price gains year-to-date. Only companies with market capitalizations greater than C$10 million at the time data was gathered are included. Read on to find what has been driving these stocks.
1. ATEX Resources (TSXV:ATX)
Year-to-date gain: 133.33 percent; market cap: C$89.07 million; current share price: C$0.84
ATEX Resources is focused on projects in Latin America. The company’s flagship asset is its Valeriano project — located in the Atacama region of Chile — which hosts a copper-gold porphyry deposit, as well as a near-surface oxidized epithermal gold deposit. ATEX is performing further exploration in Chile as well. According to the company, it is using “techniques developed by ATEX’s management team which have proven successful, resulting in a number of significant precious metal deposits discoveries.”
ATEX performed a Phase 2 drilling program at Valeriano in H1; it commenced in late January and concluded on May 11. The company’s share price reached its year-to-date high of C$0.89 on April 6, less than a week before ATEX shared an exploration update on drilling at Valeriano, saying it had been successful so far in expanding the footprint of the porphyry system. Following the conclusion of the drill program, ATEX released highlights, including 1,160 meters grading 0.78 percent copper equivalent.
The company has now begun a Phase 3 drill program at Valeriano following the completion of its third option payment for the project. It will consist of an initial 10,000 meters, and another 10,000 may be added afterwards. Although ATEX did not release any news in late November, since November 21 its share price has climbed from C$0.44 to C$0.84 on December 8.
2. Barksdale Resources (TSXV:BRO)
Year-to-date gain: 87.88 percent; market cap: C$39.5 million; current share price: C$0.62
Barksdale Resources used to be focused on both precious and base metals, but has pivoted to only base metals, in particular the Sunnyside copper-zinc-lead-silver and San Antonio copper projects in Arizona, and the San Javier copper-gold project in Mexico.
The majority of Barksdale’s exploration work has been focused on San Javier in 2022. In late April, the company released drill results from the project that expanded the footprint of the Cerro Verde copper zone. Barksdale’s share price reached a year-to-date high of C$0.70 on May 27, the day after the company engaged Independent Mining Consultants to review drilling data and technical information from San Javier to create a resource estimate and NI 43-101 technical report for the project’s Cerro Verde zone. The firm received positive results from metallurgical test work on drill cores from San Javier in June.
In late October, Barksdale completed a non-brokered private placement with Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) in which Teck subscribed for 550,000 units, or C$264,000. Teck holds about 9.9 percent of Barksdale’s equity.
Most recently, Barksdale released an initial resource estimate for Cerro Verde at the San Javier project. Its measured and indicated resource stands at 419 million pounds of copper, and its inferred resource is 31 million pounds.
3. NGEx Minerals (TSXV:NGEX)
Year-to-date gain: 76.8 percent; market cap: C$502.11 million; current share price: C$3.20
NGEx Minerals is focused on copper and gold. Its primary asset is the Los Helados copper-gold project in Chile, and the company also has a portfolio of exploration properties in Argentina, including the Valle Ancho copper-gold project. NGEx owns 64 percent of Los Helados, sharing ownership with Nippon Caserones Resources. The project is close to the Caserones mine operated by Nippon Caserones, allowing Los Helados access to that mining infrastructure.
NGEx’s share price hit a year-to-date high of C$4.09 on April 12, the day before the company shared its 2021 results and an exploration update. Throughout the year, it has been focused on exploration at both its Valle Ancho and Los Helados projects. In May, NGEx announced the discovery of a new copper-gold porphyry at Valle Ancho, and the company has shared multiple exploration updates for Los Helados, including the discovery of a new high-grade copper-gold mineralization zone.
Although NGEx’s share price fell in the middle of the year, it has been climbing steadily in Q4. In October, the company closed a C$30 million private placement, some of which will be used towards its exploration efforts. NGEx commenced a new 15,000 meter diamond drill program at Los Helados in early November that will be focused on the Fenix and Alicanto high-grade zones at the project. On November 25, the company released its Q3 results and went into detail on recent updates.
4. Los Andes Copper (TSXV:LA)
Year-to-date gain: 24.64 percent; market cap: C$378.27 million; current share price: C$13.96
Chile-focused Los Andes Copper describes its Vizcachitas open-pit copper-molybdenum project as “one of the most advanced copper deposits in the Americas.” The project has a measured and indicated resource of 1,284 million metric tons at a copper grade of 0.4 percent, including 13 billion pounds of copper equivalent. A prefeasibility study for the project is in progress and is expected in Q4.
Los Andes’ share price opened 2022 at C$11.60, but by March 11 it had climbed to C$17.49. While it hasn’t reached those heights again, its share price has remained elevated throughout the year; that said, the company did hit a road bump in Q1, when it had its drilling permit suspended during a program on March 18, news that saw shares plummet by C$2.20 overnight. The drilling that had been completed by that point showed the “largest 1% copper intercept” found at the project thus far, and according to the company pointed to potential for large-scale expansion at the project. In July, the government reinstated Los Andes’ drilling permit.
A late September project update shows that a prefeasibility study is still on track for the fourth quarter, and will incorporate 2022’s exploration. On November 2, the company announced the appointment of Interim CEO Santiago Montt following outgoing CEO and President Michael Jones’ resignation.
5. Amarc Resources (TSXV:AHR)
Year-to-date gain: 18.18 percent; market cap: C$24.26 million; current share price: C$0.13
Amarc Resources is an exploration company focused on its portfolio of copper-gold porphyry projects in BC. Amarc has 100 percent ownership of three copper-gold districts — IKE, JOY and DUKE — that together host four copper-gold deposits and 10 copper-gold targets. The JOY district has an earn-in agreement with Freeport McMoran (NYSE:FCX), which is contributing to exploration costs.
The company’s president and CEO released a message on September 22 discussing the path Amarc has been on and where its projects stand. In the days following the statement, the company’s share price climbed from C$0.13 to C$0.17, a year-to-date high.
“Amarc’s expansive, 100%-owned JOY, DUKE and IKE Districts have been diligently assembled and advanced over a period of years,” President and CEO Dr. Diane Nicolson said. “Perhaps more importantly, these Districts host the type of copper mineralization that major producers seek, with potential for low-cost, bulk tonnage, long-life production.”
In October, Amarc shared an update on exploration at JOY, which Freeport contributed C$14 million to in 2022. Additionally, in November Amarc announced that Boliden Group (STO:BOL) subsidiary Boliden Mineral Canada had entered into an earn-in agreement for the DUKE district that could see the latter company earn a 70 percent interest in DUKE. Amarc’s most recent news came on December 8; it has commenced a drill program at DUKE that will be funded by Boliden.
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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Barksdale Resources and Los Andes Copper are clients of the Investing News Network. This article is not paid-for content.
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