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YTD Best Copper Stocks on the TSX

These five companies have seen the biggest gains year-to-date.

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This article was originally published by Investing News Network

Click here to read the previous best TSX copper stocks article.

Copper has had a stellar first half of 2021, with prices rallying to its all-time highest price on record.

Unlike the first half of 2020, the trend in copper prices was upward for most of the first half of 2021, with the red metal hitting an all-time high in  May.

Copper prices remain robust heading into the second half of 2021 , and there is plenty of optimism that the red metal is entering a bull market. Many analysts and companies expect copper to boom in the coming years, with electrification and electric vehicles growing in popularity and subsequently increasing the world’s appetite for copper.

 

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Some of the top copper stocks on the TSX so far have seen significant gains year-to-date, as shown on the list below. The list was generated on July 8, 2021, using TradingView’s stock screener, and only companies with market capitalizations greater than C$50 million at that time are included.

1. Capstone Mining (TSX:CS)

Current share price: C$5.18, year-to-date gain: 118 percent

Capstone Mining is a base metals-focused company with two producing copper mines: Pinto Valley in the US and Cozamin in Mexico. In addition, Capstone has the large-scale 70 percent owned copper-iron Santo Domingo development project in Region III, Chile, in partnership with Korea Resources, as well as a portfolio of exploration properties.

During Q1, the company released its 2020 results. Capstone exceeded both production and cost guidance last year, finishing the year at 156.9 million pounds of copper production, above its guidance range of 140 million to 155 million pounds. It reported consolidated C1 cash costs of US$1.84 per payable pound of copper, below its guidance range of US$1.85 to US$2.

In 2021, Capstone expects to produce between 175 million and 190 million pounds of copper at C1 cash costs of between US$1.75 and US$1.90 per pound of payable copper produced.

2. Solaris Resources (TSX:SLS)

Current share price: C$12.62, year-to-date gain: 107.5 percent 

Solaris Resources has a portfolio of copper and gold projects in the Latin American region, including in Ecuador, Chile, Peru and Mexico. The company has established a high-grade resource with expansion and additional discovery potential at the Warintza copper-gold project in Ecuador.

Solaris has had steady news flow from its 2021 resource drilling program at Warintza. In July, the company reported 1,000 meters of 0.60 percent copper equivalent from surface, extending the Warintza Central zone to 1,250 meters in strike length. The drilling program continues to expand the footprint of this zone toward defining a large, high-grade, open pit resource.

3. Copper Mountain Mining (TSX:CMMC)

Current share price: C$3.55, year-to-date gain: 95.58 percent

Copper Mountain Mining’s flagship asset is the Copper Mountain mine, located in British Columbia near the town of Princeton. It produces about 100 million pounds of copper equivalent per year.

Last year, Copper Mountain’s production was 77.6 million pounds of copper, exceeding guidance of 70 to 75 million pounds. Its C1 cash costs were US$1.53 per pound of copper, while its all-in sustaining costs were US$1.69; Copper Mountain’s all-in costs were US$1.90, meeting the mid-point of the company’s improved and revised all-in cost guidance of US$1.80 to US$2.

 

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The company released its 2021 guidance in January, saying production is expected to increase up to a range of 85 million to 95 million pounds of copper. Copper Mountain also said its all-in costs in 2021 are expected to be in the range of US$1.80 to US$2.

4. China Gold International Resources (TSX:CGG)

Current share price: C$3.22, year-to-date gain: 76.92 percent

Gold and base metal mining company China Gold International Resources is headquartered in Vancouver, BC and operates two mines: the CSH gold mine in Inner Mongolia, China and the Jiama copper-polymetallic mine in Tibet, China.

China Gold released its 2021 Q1 financial and operational results in May. The company’s revenue increased by 83 percent to US$272.1 million from US$148.6 million for the same period in 2020. Cash flow from operation increased by 964 percent to US$170.2 million from US$16.0 million for the same period in 2020.

Total gold production increased by 3 percent to 53,521 ounces from 51,829 ounces for the same period in 2020, and total copper production increased by 37 percent to 48.9 million pounds (22,191 tonnes) from 35.7 million pounds (16,185 tonnes) for the same period in 2020.

5. Entrée Resources (TSX:ETG)

Current share price: C$0.94, year-to-date gain: 67.86 percent

Entrée Resources has a carried joint venture interest in of one of the world’s largest copper-gold projects, the Oyu Tolgoi project in Mongolia. The company’s major shareholders include Sandstorm Gold Ltd. (24 percent), Rio Tinto (9 percent) and Turquoise Hill Resources Ltd. (8 percent).

Entrée recently announced the results of a feasibility study completed on the Hugo North Extension Lift 1 portion of the Oyu Tolgoi JV project, including an updated reserve case after-tax NPV (8 percent) of C$139 million. In addition, there has also been a preliminary economic assessment completed on the Hugo North Extension Lift 2 portion, showing an after-tax NPV (8 percent) of C$372 million.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

 

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The post Best Copper Stocks on the TSX appeared first on Investing News Network.

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Energy & Critical Metals

Burundi’s first grid-connected solar farm reaches commercial operation

A pioneering 7.5MW solar PV plant has reached commercial operation in Burundi, increasing the country’s generation capacity by over 10%.
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A pioneering 7.5MW solar PV plant has reached commercial operation in Burundi, increasing the country’s generation capacity by over 10%.

It’s the country’s first substantial energy generation project to go online in over three decades, supplying clean power to tens of thousands of homes and businesses.

The plant near the village of Mubuga supports international efforts to increase renewables and climate finance, especially for the world’s most vulnerable communities.

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UK Minister for Energy, Clean Growth and Climate Change, Greg Hands, said: “Today’s launch of Burundi’s first grid-connected solar farm will light up the nation’s energy system. It will strengthen the national grid supply and propel forward a promising future for the country in clean, green energy.

“Set to increase Burundi’s power generation capacity by 10%, this pioneering project, backed by UK government funding, is a fantastic example of countries working together ahead of COP26. Investing in a green future benefits the economy and the planet.”

The six-year process of building the solar plant was led by energy developer and independent power producer Gigawatt Global.

Financing for the construction of the project was provided via a consortium including pan-African private equity investor Inspired Evolution, the UK government-funded Renewable Energy Performance Platform (REPP – managed by Camco Clean Energy), and Gigawatt Global.

The construction loans are being refinanced by the US International Development Finance Corporation (DFC).

Additional support for the project was provided directly and indirectly from the Energy and Environment Partnership (EEP – a fund set up by Finland, the UK and Austria), the Belgian Investment Company for Developing Countries (BIO), Trinity International has advised the Gigawatt Global and Inspired Evolution equity teams since 2017. Engineering, procurement and construction services were provided by French firm Voltalia, and political risk re-insurance is provided by DFC.

Gigawatt and Voltalia Teams. Image credit: Gigawatt Global

Gigawatt Global CEO Josef Abramowitz said: “We thank our impact investors and strategic partners, as well as the Burundi government, for joining forces to accomplish this historic milestone on the road to climate justice and fulfilling many of the UN’s Sustainable Development Goals.”

Abramowitz, who was nominated by 12 African countries for the 2021 Nobel Peace Prize for his pioneering commitment to green energy access, continued: “Green energy projects that serve the most vulnerable communities should be prioritized by the international community.”

The Burundi field recently received the award for “Project of the Year” from EEP.

Gigawatt Global is also building a community centre powered by solar energy that will offer local access to productive use of electricity.

The centre will focus on community development through women’s empowerment and youth and employment programs, along with various educational components being developed with local and international NGOs.

The post Burundi’s first grid-connected solar farm reaches commercial operation appeared first on Power Engineering International.

Author: Pamela Largue

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Base Metals

Monsters of Rock: Lithium shares flush with positive sentiment to dominate the gains

Lithium miners were the kings, queens, jacks and aces of the bourse on an avalanche of positive news around the … Read More
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Lithium miners were the kings, queens, jacks and aces of the bourse on an avalanche of positive news around the sector.

The biggest trigger was probably the incredible rise in value for Tesla overnight, which soared beyond a US$1 trillion valuation on news Hertz would order US$4 billion worth of electric vehicles from the automaker.

As the leading electric vehicle maker in the western world, and with a big presence also in China and energy storage, Tesla is one of the biggest end users of lithium products globally.

Its boss Elon Musk, now the richest man ever, has a fair bit of sway on the market as well.

On top of that Pilbara Minerals (ASX:PLS), up 525% over the past 12 months since spodumene prices bottomed out at under US$400/t (it sold a batch for upwards of US$2000/t last month), gained 7.66% after formally announcing plans to develop a lithium chemical plant in a JV with South Korea’s POSCO.

Core Lithium (ASX:CXO) declared the start of construction on its Finniss Lithium Mine in the Northern Territory. That will be shipping concentrate from the end of 2022.

$550 million capped Neometals (ASX:NMT) was up 14% after announcing its battery recycling demonstration plant in Hilcenbach, Germany, had been fully commissioned.

The one time lithium miner is up 405% over the past year.

Vulcan Energy (ASX:VUL), Sayona (ASX:SYA), Liontown (ASX:LTR) and Orocobre (ASX:ORE) were among the lithium miners to dine out on the day’s news, while rare earths miner Lynas (ASX:LYC) was also up.

On the flippity flip, iron ore miners were weak with Fortescue (ASX:FMG) and Rio Tinto (ASX:RIO) cancelling out a gain from BHP (ASX:BHP), while Mineral Resources (ASX:MIN) cancelled out the gains it made with yesterday’s announcement the Wodgina lithium mine would be coming back online with news it ate a 48% price discount on iron ore sales in the September Quarter.

MinRes’ average realised prices fell from US$178/t to around US$78/t between the June and September Quarters.

The bright green is all lithium baby. Pic: Commsec

 

Base metals inventories falling, but can it be sustained?

Base metals were back up on Monday, with production cuts in energy starved China and Europe hitting primary supply.

Inventories held by the major exchanges are being chewed up.

While price moves among the miners was muted, nickel rose 3.2% to climb back over US$20,000/t overnight after hitting US$21,000/t briefly last week.

“Nickel rallied after Eramet disclosed a 19% drop in ferronickel production from its operations in New Caledonia,” ANZ analysts said in a note.

“The market is also showing signs of tightness, with cash contracts closing at their biggest premium to futures in two years. LME inventories are down nearly 50% since April.”

LME stockpiles for copper hit their lowest level since 1974 last week, but Commbank analyst Vivek Dhar says it is too early to say whether the market is as tight as it seems, or whether some traders are hoarding to capitalise on high prices.

The market is expected to be in a small deficit at the end of this year to a 328,000t surplus in 2022 on rising supply (about 1.3% of global demand).

Mined supply is expected to increase 2.1% this year and 3.9% in 2022, but Dhar warned copper miners had a history of underwhelming.

“The rising forecasts for copper mine production reflect 5 major copper projects due to arrive by the end of 2022,” Dhar said.

“That compares with just two major copper projects in the last 4 years.

“Given the track record of mine disruptions (i.e. labour strikes, power and water scarcity and geopolitics) and the decline in copper grades, elevated copper mine production growth forecasts don’t tend to last long.

“We think it’s worth considering that new mine supply may take longer than currently expected to hit the market.”

The post Monsters of Rock: Lithium shares flush with positive sentiment to dominate the gains appeared first on Stockhead.







Author: Josh Chiat

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Energy & Critical Metals

Chart of the Day: Plenty of immediate upside targets for Ionic Rare Earths

Let’s get into it. Iconic Rare Earthss (ASX:IXR) is a bullish set up from a technical perspective. It’s in an … Read More
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Let’s get into it.

Iconic Rare Earthss (ASX:IXR) is a bullish set up from a technical perspective.

It’s in an uptrend. The moving averages are sloping up.

It’s shown us that when it wants to the market can get a hold of it – as evidenced by the fierce run from 1.5c to 6c at the start of this year.

 

Chart of the Day: Ionic Rare Earths (ASX:IXR)

There are no immediate gaps on the chart to worry about that need to be filled.

The company surpassed 4c resistance yesterday on increasing volume, which was a positive sign. However, after touching 4.5c in intra-day trade, it has now settled back to close at 4.2c, leaving a daily selling candle.

That infers that a test of 3.8 – 4c may be on the cards.

In our view that would make attractive buying.

Given the negative response to the scoping study in late April, there are plenty of immediate upside targets, the most immediate being 4.7c, with further potential to those March highs above 6c.

Back the other way, and we don’t need to hold this below 3.5c.

The company is well funded – reporting over $11m on balance sheet at their last quarterly – with an updated quarterly anticipated before the end of the month.

We are long as of yesterday, and will manage the trade to the above risk, looking for 4.7c first, with potential to above 6c if things go their way.

Steve Collette of Collette Capital Pty Ltd (ABN 56645766507) is a Corporate Authorised Representative (No. 1284431) of Sanlam Private Wealth (AFS License No. 337927), which only provides general advice.

Collette Capital only makes services available to professional and sophisticated investors as defined by the Corporations Act, Section (s)708(8)C and 761G(7)C.

The Collette Capital Wholesale IMA Strategy has returned +24.83% p.a. net of all fees as at the end of September 2021 since inception in January 2015 (using the Time Weighted Return method of calculating returns).

Learn more at www.collette.capital

The post Chart of the Day: Plenty of immediate upside targets for Ionic Rare Earths appeared first on Stockhead.


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