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Which junior copper stocks have gained the most on the TSXV so far this year? Arena Minerals is in the lead with a rise of over 100 percent.
It’s no secret that copper prices have not fared well in 2015. Prices for the red metal have fallen roughly 28 percent so far this year, dropping over 10 percent in the past month alone, and spot copper is currently sitting at about $2.11 per pound.
That said, some copper miners have been weathering the storm, while a number of earlier-stage companies have seen share price gains for the year. With that in mind, the Investing News Network has put together a list of the top TSXV-listed copper stocks year-to-date. The list below was compiled using The Globe and Mail’s market data filter, and does not include companies with a market cap of less than $10 million.
1. Arena Minerals (TSXV:AN)
Current price: $0.215; year-to-date gain: 115 percent; 52-week high: $0.28.
Arena is a prospect generator with a number of copper properties in Chile, the world’s top copper producer. Despite falling copper prices, Arena has risen roughly 30 percent over the past three months after beginning drilling at its Atacama copper project. In July, Arena entered into a US$16-million option agreement with Japan Oil, Gas and Metals National for Atacama.
2. Quaterra Resources (TSXV:QTA,OTCMKTS:QTRRF,FWB:QR2)
Current price: $0.08; year-to-date gain: 77 percent; 52-week high: $0.14.
Quaterra is advancing a number of copper deposits in Yerington, Nevada with the help of funding from its joint venture partner, Freeport-McMoRan Nevada. This past June, Freeport committed to US$7.1 million in option payments, and the company began using the funds for drilling at the Bear deposit in Yerington. Highlights from the first hole drilled include an interval of 352 meters of 0.42 percent copper.
3. Euromax Resources (TSXV:EOX)
Current price: $0.35; year-to-date gain: 66.67 percent; 52-week high: $0.57.
Euromax is focused on developing its Ilovica copper-gold project in Macedonia. A prefeasibility study was completed for the project in December 2014, and an environmental impact statement has been approved.
In October 2014, Euromax entered into a US$175-million gold streaming agreement with a subsidiary of Royal Gold (TSX:RGL) to fund development and construction of Ilovica. In May, the company announced plans for an additional US$215-million project facility pending approval for support from the German Untied Loan Guarantee Scheme (UFK — Garantien für Ungebundene Finanzkredite).
4. Abacus Mining and Exploration (TSXV:AME)
Current price: $0.06; year-to-date gain: 50 percent; 52-week high: $0.09.
Abacus holds the Ajax copper-gold project in British Columbia, which is being funded and developed in large part by its joint venture partner, KGHM Polska Miedz (WSE:KGH). Abacus announced the submission of an environmental impact assessment for Ajax in September, and the company has stated that it is now focused on securing the final permits needed to operate and construct the mine.
5. Reservoir Minerals (TSXV:RMC)
Current price: $4.25; year-to-date gain: 7.32 percent; 52-week high: $5.09.
Being up just under 8 percent for the year, Reservoir is a long way off from the other copper stocks on this list in terms of percentage gains. However, it also has the highest share price on the list by far, and has made some significant progress this year. In March, Reservoir executed a joint venture and shareholder agreement with Freeport-McMoRan Exploration for its Timok project in Serbia, with the board of directors of a joint venture company for the project approving a US$18.7-million 2015 budget.
Reservoir also released some exciting drill results from its Cukaru Peki deposit in Serbia and entered into an earn-in joint venture agreement with Rio Tinto Mining and Exploration for its exploration permits in the Timok Magmatic complex.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Quaterra Resources is a client of the Investing News Network. This article is not paid-for content.
