Copper is on the rise, and soon-to-be well-funded QMines is following suit.

Highlights:

• ASX-listed copper stocks with production over 10,000tpa are gaining market support due to rising copper prices in early 2025.
• QMines (ASX:QML) is focusing on reviving the Mt Chalmers copper-gold mine with a strategic expansion and positive feasibility study results.
• Recent drilling activities at Develin Creek highlight promising copper discoveries supporting QMines' growth plans.

Barry FitzGerald, an experienced columnist in the resources industry, discusses the recent trends and developments in ASX-listed copper stocks. Despite fluctuating market caps due to diverse operations, these stocks are receiving significant support, primarily due to a 13% rise in copper prices early in 2025.

The geopolitical movement of copper, particularly into the US amid potential tariff concerns, has contributed to a surge in Comex copper futures, reaching US$4.80/lb, a significant premium over LME prices. Signs of increasing industrial production globally add to this bullish sentiment, with the looming promise of a supply deficit anticipated by major producers like BHP.

Among market participants, QMines (ASX:QML) has caught attention with its plan to revive the historic Mt Chalmers copper-gold mine. Listed on the ASX in May 2021, QMines aims to become a 10,000-20,000tpa copper equivalent producer with an attractive market cap of $18 million, as per mid-week figures.

A preliminary feasibility study completed last year suggests a 10.4-year project with a low capital cost of $191m, yielding a net present value of $373m. As QMines expands its resource base in the Rockhampton area, the anticipation for a revised mine plan grows, especially with the expected resource update for its satellite deposits at Develin Creek.

Recent drilling at Develin Creek yielded impressive results, underscoring the potential of deposits such as Scorpion and Window as future open-cut feed for Mt Chalmers. The discovery of a significant copper intersection at the Scorpion reinforces the geological model and the potential of the area.

Further exploration is planned at Develin Creek, with a focus on the Sulphide City deposit, suggesting an exciting period ahead for investors and stakeholders. These endeavors align with a broader industry perspective that projects continued demand for copper, driven by electrification trends and new industrial demands.

For more insights into QMines and the copper market, Barry FitzGerald’s Explorers Podcast features a discussion with QMines executive chairman Andrew Sparke, providing an engaging look into the company's future prospects.