The Canadian junior copper stocks on our list have one-month returns that exceed 42%
SmallCapPower | June 13, 2018: Since the beginning of June, copper prices have experienced a sharp spike, rising from US$3.06/lb on May 31, and reaching a five-year high of US$3.30/lb on June 8. This could be attributed partly to current wage negotiations at the Escondida mine in Chile. The Escondida mine is estimated to produce 5% of the world’s copper supply. The last wage negotiation in 2017 went south, and the mine ceased operations for 44 days with 200K tonnes of supply lost. In addition, earlier in April one of the largest smelters in the world, Sterlite, shut down its operation in India. These events have raised concerns about the near-term supply of copper. As a result, the Canadian junior copper stocks we’ve identified today have generated significant returns during the past month.
Melkior Resources Inc. (TSXV:MKR) – $0.08
Gold/Copper/Nickel
Melkior Resources is a Canada-based exploration company focused on the acquisition and development of exploration projects located primarily in Ontario and Quebec. The Company has three areas of focus, the Timmins Gold Camp, Hemlo Gold Camp and Urban-Barry Gold Camp. In addition to gold exploration, Melkior aims to develop copper and nickel projects. Their Delta Kenty location has demonstrated results of 9.77m of 0.64% Ni and 0.26% Cu as well as 0.8Mt at 3.05% Ni, 1.26% Cu.
- Market Cap: $12.4 Million
- 1 Month Total Return: 100.0%
Bluebird Battery Metals Inc. (TSXV:BATT) – $0.40
Nickel/Colbalt/Copper
Bluebird Battery Metals is a junior battery metals exploration company based in Canada. The Company focuses on the exploration and development of metals such as nickel, cobalt and copper. Bluebird has two projects located in Yukon, Canada and Western Australia. Nine out of 10 holes drilled recently at the Canegrass Project located in Australia intersected more than anticipated amounts of nickel, cobalt and copper. The Batt Project in Yukon showed 5.6% Cu and 1.7% Cu from two grab samples.
- Market Cap: $17.0 Million
- 1 Month Total Return: 60.0%
Pan Andean Minerals Ltd. (TSXV:PAD) – $0.085
Gold/Copper
Pan Andean Minerals is a Canada-based junior company specializing in base and precious metal exploration. The Company focuses on exploration districts in Peru and Yukon. Pan Andean has a 100% ownership in eight mineral properties located in Yukon. The majority of the properties have gold and copper deposits, with the Carmacks deposit having Proven and Probable reserves of 10.6M tonnes at 1.04% Cu, 0.484 g/t and 4.62 g/t. The Company’s drilling at its 100% acquired project in Peru, Chanape property, has demonstrated results of 55m of 2.3% Cu, 0.6g/t Au, and 42.9 g/t Ag.
- Market Cap: $3.8 Million
- 1 Month Total Return: 41.7%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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