Which junior copper stocks have gained the most on the TSXV so far this year? Sandfire Resources is in the lead.
It’s been a tough year for copper so far, as uncertainty continues to hit the markets on the back of the COVID-19 pandemic and its impact on the economy.
Copper started the year trading for US$6,165 per tonne, hitting its quarterly peak on January 16, when it traded for US$6,300. But as the coronavirus outbreak spread, copper started plummeting, with its lowest point reached on March 26 at US$4,617.50.
Despite copper being under pressure since the start of the year, some TSX-listed companies focused on the red metal have been able to hold onto gains. Read on to see which junior copper stocks increased the most so far in 2020.
This list was generated on April 9,2020 using TradingView’s stock screener. Only companies with market capitalizations greater than C$10 million at that time are included.
1. Sandfire Resources America (TSXV:SFR)
Year-to-date gain: 31.58 percent; current share price: C$0.25
Sandfire Resources America is a mining company focused on developing the Black Butte underground copper mine in Montana. The Black Butte mine was expected to begin mining operations in 2020, but the uncertainty brought by the coronavirus outbreak could change that – something the company can’t predict at this time.
Giving an update on its response related to COVID-19, Sandfire said the DeGrussa operations in Western Australia continue to operate at full capacity, with mining, processing and concentrate sales in line with previously announced guidance. At the Tshukudu project in Botswana, studies continue on the optimization of the proposed T3 mine development and exploration continues at the recent A4 discovery.
2. Kaizen Discovery (TSXV:KZD)
Year-to-date gain: 25 percent; current share price: C$0.05
Kaizen Discovery is a base and precious metals explorer focused on South America. It’s majority owned by HPX TechCo, which is a privately-owned company led by Robert Friedland. Along with three projects up for purchase or joint venture, Kaizen has the Pinaya copper-gold project in Peru which is its core focus.
Even though a drill program has been completed at Pinaya, due to restrictions on international and domestic travel in Peru, analysis of the drill core and receipt of the full assay results will be delayed for an undetermined amount of time. Kaizen will report the results from exploration drilling as soon as it possible can, the company said on March 23.
3. Pacific Booker Minerals (TSXV:BKM)
Year-to-date gain: 2.86 percent; current share price: C$1.80
Pacific Booker Minerals’ flagship project is the Morrison copper-gold asset, which is currently in the advanced development stage following the completion of a feasibility study.
The company hasn’t released any significant news this year, but has seen its share price experience volatility as markets plummeted in mid-March.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.