ATXRF
ATEX RESOURCES INC
stock OTC

Hi to all!
Three copper-gold companies. Three very different stages. One way to think about the exploration cycle without lumping them all together.
I've found it makes more sense to organize junior miners by where they are in the exploration cycle instead of grouping them by commodity alone. A company with a multi-billion-tonne resource has a very different path ahead than an explorer preparing for its first drill program. The catalysts, risks, and timelines aren't the same.
Right now I'm following three copper-gold companies that each fit into a different stage.
The first is ATEX Resources ($ATX / $ATXRF). Its Valeriano project in Chile has already reached the large-resource stage. The updated 2025 resource outlines 475 million tonnes in the indicated category grading 0.88% copper equivalent, plus another 1.5 billion tonnes in the inferred category at 0.75% copper equivalent. With a resource of that size already defined, the next questions are whether the deposit continues to grow and how the project advances toward future economic studies. I'll also be watching upcoming drill results to see if they continue extending the system.
NovaRed Mining ($NRED / $NREDF) sits at the opposite end of the spectrum. Its Wilmac project covers roughly 39,000 acres in British Columbia's Quesnel porphyry belt, about six miles west of Hudbay's Copper Mountain Mine. The nearby operation shows the district has produced significant copper deposits, but Wilmac still has to prove its own potential through exploration.
The 2026 field season is what makes NovaRed interesting to me. The company plans to expand soil sampling, complete four IP and AMT geophysical surveys, refine drill targets, and begin its first drill campaign in the fall, assuming permits are received. The MetalCore AI platform helps organize and analyze exploration data, but the field program and drilling will provide the results that matter most.
The third company is Amarc Resources ($AHR / $AXREF). It also operates in British Columbia, but what stands out is the level of support from major mining companies. Amarc is advancing the JOY, DUKE, and IKE copper-gold districts. Freeport is funding work at JOY with a preliminary 2026 budget of around $15 million, while Boliden invested $30 million to earn a 60% interest in the DUKE joint venture. Those partnerships bring funding, technical expertise, and another layer of confidence in the exploration programs.
Each company fills a different role on my watchlist. ATEX offers exposure to a large established resource with room for expansion. NovaRed gives me an earlier-stage exploration story where upcoming surveys and initial drilling could reshape the project. Amarc combines district-scale exploration with financial backing from established mining companies.
I like having exposure to different parts of the exploration cycle instead of relying on one type of junior miner. Large resources can continue growing, early exploration can uncover new discoveries, and partner-funded projects can move forward without relying entirely on repeated financings. For anyone following copper and gold, I think all three are worth keeping an eye on over the next couple of years.

Hi to all!
Three copper-gold companies. Three very different stages. One way to think about the exploration cycle without lumping them all together.
I've found it makes more sense to organize junior miners by where they are in the exploration cycle instead of grouping them by commodity alone. A company with a multi-billion-tonne resource has a very different path ahead than an explorer preparing for its first drill program. The catalysts, risks, and timelines aren't the same.
Right now I'm following three copper-gold companies that each fit into a different stage.
The first is ATEX Resources ($ATX / $ATXRF). Its Valeriano project in Chile has already reached the large-resource stage. The updated 2025 resource outlines 475 million tonnes in the indicated category grading 0.88% copper equivalent, plus another 1.5 billion tonnes in the inferred category at 0.75% copper equivalent. With a resource of that size already defined, the next questions are whether the deposit continues to grow and how the project advances toward future economic studies. I'll also be watching upcoming drill results to see if they continue extending the system.
NovaRed Mining ($NRED / $NREDF) sits at the opposite end of the spectrum. Its Wilmac project covers roughly 39,000 acres in British Columbia's Quesnel porphyry belt, about six miles west of Hudbay's Copper Mountain Mine. The nearby operation shows the district has produced significant copper deposits, but Wilmac still has to prove its own potential through exploration.
The 2026 field season is what makes NovaRed interesting to me. The company plans to expand soil sampling, complete four IP and AMT geophysical surveys, refine drill targets, and begin its first drill campaign in the fall, assuming permits are received. The MetalCore AI platform helps organize and analyze exploration data, but the field program and drilling will provide the results that matter most.
The third company is Amarc Resources ($AHR / $AXREF). It also operates in British Columbia, but what stands out is the level of support from major mining companies. Amarc is advancing the JOY, DUKE, and IKE copper-gold districts. Freeport is funding work at JOY with a preliminary 2026 budget of around $15 million, while Boliden invested $30 million to earn a 60% interest in the DUKE joint venture. Those partnerships bring funding, technical expertise, and another layer of confidence in the exploration programs.
Each company fills a different role on my watchlist. ATEX offers exposure to a large established resource with room for expansion. NovaRed gives me an earlier-stage exploration story where upcoming surveys and initial drilling could reshape the project. Amarc combines district-scale exploration with financial backing from established mining companies.
I like having exposure to different parts of the exploration cycle instead of relying on one type of junior miner. Large resources can continue growing, early exploration can uncover new discoveries, and partner-funded projects can move forward without relying entirely on repeated financings. For anyone following copper and gold, I think all three are worth keeping an eye on over the next couple of years.