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Copper supply saw a decline in the year 2017, majorly due to lack of significant output from new projects or expansions. No major supply disruptions had occurred in the year 2018; however, overall growth got impacted by lower output at some mines in Canada, and operational problems in some major exploring countries. With the recovery in various sectors, there has been an increase in the demand for commodities such as Copper, Iron Ore, etc. The copper price is expected to rise due to rise in demand and little supply concerns. It is expected that Cooper explorers will be benefited from the price rise. Let’s take a look at 3 Cooper stocks trading on ASX-

KGL Resources Limited (ASX: KGL)

KGL Resources Limited (ASX: KGL) has an engagement in the exploration and development of the Jervois multi-metal project in the Northern Territory. The company recently published its 2018 Annual Report, where it reported a significant increase in the quality, grade and size of the Mineral Resource at the Jervois Copper Project in the Northern Territory marked a year of progress by KGL towards the Project’s development. In two Resource estimate updates announced in May 2018 and January 2019, the Company achieved an 18% increase in Copper Resources to 385,200 tonnes, a 39% increase in copper grade to 1.49% copper, and a 42% increase in the Indicated Copper Resource category which now comprises more than half the total Copper Resource at Jervois, as well as increases in the silver grade and the Indicated Silver Resource of 18% and 9% respectively. For the year ended December 31, 2018, the KGL Group recorded loss after income tax of $1,229,078 (2017: loss of $1,264,772). Employee expenses increased in the year to 31 December 2018 to $817,249 (2017 $721,233) resulting from the expansion of the board and new management appointments. The KGL cash reserve as at 31 December 2018 was $10,746,168, including $576,202 in cash and cash equivalents and $10,169,966 classified as financial assets held to maturity. The company’s planned operations for 2019 are fully funded.

At the time of writing (on May 10, 2019, AEST 4:00 PM) the stock of KGL Resources was trading at $0.280 with the market capitalisation of ~$78.95 Mn. Its 52 weeks high was at $0.405 and 52 weeks low at $0.270 with an average volume of 82,626. Its absolute return for the past 1 year, 6 months, and 1 month are -25.33%, -9.68%, and -6.67% respectively.

Bougainville Copper Limited (ASX: BOC)

Bougainville Copper Limited (ASX: BOC) earlier produced copper concentrate containing gold and silver from a mine at Panguna in Central Bougainville, Papua New Guinea. It now derives investment income and is conducting activities in Bougainville in relation to the exploration licence it holds over the previous Panguna Special Mining Licence area. The company recently announced results outcome of the 2019 AGM, where it reported re-election of Dame Carol Kidu as a Director; and appointment of Auditors PricewaterhouseCoopers and authorise the Directors to fix their fees. In the previous update, it reported about the uncertainty surrounding Panguna tenure which is coinciding with its preparations for the impending referendum on its political future.

At the time of writing (on May 10, 2019, AEST 4:00 PM) the stock of Bougainville Copper was trading at $0.130 with the market capitalisation of ~$52.14 Mn. Its absolute return for the past 1 year, 6 months, and 3 months are -29.73%, -13.33%, and -18.75% respectively

Aeon Metals Limited (ASX: AML)

Aeon Metals Limited (ASX: AML) is engaged in exploration and development of the advanced Walford Creek (100% owned) copper-lead-zinc-cobalt project. The company recently announced that its first of the two contracted drill rigs s is now on site at the Company’s 100%- owned Walford Creek Project. Drilling of the first reverse circulation (RC) hole pre-collars has also commenced. It also announced drill results incorporated by H&S Consultants Pty Ltd from 2018, with 35,000-meter drill campaign to complete the upgraded resource.

During the March quarter, the Company expended approximately $597k on exploration and evaluation activities. As on March 31, 2019, the Company had available cash of around $2.58 Mn.

Estimated Recoveries Based on Testwork by AML (Source: Company Reports)

In another update, AML announced the change in director’s interest where Hamish Collins acquired 115,000 shares at a price of 23 cents per share. At the time of writing (on May 10, 2019, AEST 4:00 PM). The stock of Aeon Metals was noted at $0.225 with the market capitalisation of ~$161.54 Mn. Its 52 weeks high was at $0.450 with an average volume of ~516,237. Its absolute return for the past 1 year, 6 months, and 3 months are -34.25%, -14.29%, and -15.79% respectively.


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