By James West, Midas Letter
Copper One Resources Corp (CSE:CEXY, OTCQB:CEXYF) announcement last week of a ~$10 million financing highlights increasing institutional interest in the company’s Majuba Hill Copper project.
Significantly, the company also announced a 10.5% Cu and 188 g/t Silver sample from recent underground breccia mapping program.
The Importance of Copper in Modern Industry
So if you are wondering how to differentiate investment-worthy resource companies from those that are stuck, there is no more sincere form of endorsement than a big cheque and a high grade sample. And the fact that the announcement was made while the company is in the midst of a 10,000 foot drill program might be interpreted as a bigger “tell”.
Here’s why:
Copper, unless you’ve been asleep under a rock in the 100 degree weather, is about the only metal commodity that has been exhibiting price movements consistent with a secular supply crunch getting worse with time.
Unlike gold and silver, which are captive to the manipulative machinations of the leading banks yanking futures pricing in every direction, copper is more closely influenced by actual fundamental drivers like diminishing grade at the world’s largest producers, underspending in new mine development, and soaring demand implications from the AI and associated data centre arms race.
As the chart below amply demonstrates, there is less volatility in the copper price since the beginning of 2026 relative to any other commodity in the metals.
Compelling considerations of the company for investors:
- Full project ownership at reduced cost. In June 2026 the company signed an amendment agreement to acquire 100% of the Majuba Hill Copper-Silver-Gold Project for US$1.3 million cash, roughly US$2.7 million below the original option framework. Full ownership removes earn-in obligations and gives control over exploration and strategic options.
- Tier-one jurisdiction. Majuba Hill sits in Pershing County, Nevada, a well-established U.S. mining jurisdiction, with 403 federal lode mining claims plus four private parcels covering about 3,919 hectares.
- Porphyry-scale target. Exploration has identified indications of a potentially large copper-silver-gold mineralized system with characteristics consistent with porphyry-style copper mineralization, supported by scale, access, infrastructure, and historical work.
- Active, funded drill program. A 10,000-foot 2026 drill program is underway, with the first hole designed to reach about 2,500 feet and to follow up historic holes with significant copper-silver-gold intersections. The current hole, MHB-37B, reached 1,743 feet with visible chalcopyrite, pyrite, and possible sphalerite between roughly 800 and 1,100 feet.
- AI-assisted targeting: Drill holes use ExploreTech’s AI-driven modelling platform combined with the project’s technical database of historical drilling, geophysics, geology, alteration data, and surface mapping. This lowers the risk of drilling on stale assumptions.
- Potential value driver: The stated objective is advancing toward a maiden mineral resource estimate (MRE), which often acts as a price catalyst.
- Supportive commodity backdrop: June 2026 market reporting put Goldman Sachs’ year-end copper target at US$13,735 per tonne, and Citi targeted US$14,500 per tonne with US$15,000 within one year, citing weak supply growth and demand from AI and the energy transition.
In terms of sector specifics, three main drivers dominate global copper demand in 2026:
- Power grid expansion and electrification: Global electricity consumption will increase almost 50% by 2040, faster than any other form of energy, and copper demand is projected to grow from 28 million metric tons today to 42 million by 2040. Transmission lines, distribution networks, and power cables rank among the fastest-growing demand segments.
- Electric vehicles: Each EV requires roughly four times more copper than a combustion vehicle. China and the rest of Asia will account for 60% of the world’s copper demand growth between 2025 and 2040, fueled by rapid EV adoption, clean power, and grid buildout.
- AI data centers: J.P. Morgan estimates a single large AI data center requires up to 50,000 tonnes of copper, with total data center demand projected to reach 475,000 tonnes annually by 2026. Sprott estimates data centers will need about 1.1 million tonnes of copper annually by 2030, close to 3% of global demand, with millions more tonnes tied up in the transmission infrastructure feeding those sites.
Supply-side dynamics
The International Copper Study Group now expects a refined copper shortfall of around 150,000 tonnes in 2026, reversing a prior forecast surplus of more than 200,000 tonnes.
Major mines are under persistent strain: Grasberg in Indonesia is operating below capacity after a mudslide-related force majeure, and Quebrada Blanca in Chile has cut guidance, contributing to a tighter global mine supply backdrop.
The copper concentrate market is tight, reflected in treatment and refining charges collapsing toward zero or even negative levels by early 2026, signaling competition among smelters for limited concentrate.
Bottom Line
Copper One’s latest investor sees the company as an attractive vehicle in which to expose themselves to a high impact copper play that will likely respond to any meaningful exploration success positively, while the continuing shortfalls and rising demand for copper provide a backdrop of upward price pressure. In combination, those two aspects make Copper One worth a hard look.
Republished from Midas Letter Substack — Midas Letter with James West is a reader-supported publication. To receive new posts and support Midas Letter, consider becoming a free or paid subscriber.
About James West
James West — Publisher & Editor, The Midas Letter & Midas Letter Daily
James West is an independent capital markets entrepreneur, investor, and award-winning financial journalist with over two decades of experience identifying and financing emerging growth companies. He is the founder, publisher, and editor of The Midas Letter and Midas Letter Daily—two of Canada’s most respected sources for high-impact small-cap and resource sector investment news.
Since launching The Midas Letter in 2008, James has built a global audience of institutional investors, high-net-worth individuals, and portfolio managers seeking unfiltered, actionable insights into capital markets, commodities, technology, and emerging sectors.
James is a frequent guest and contributor on BNN Bloomberg, Reuters, CNBC, and Business News Network, recognized for his ability to distill complex market trends into clear, engaging narratives. His editorial style blends deep market intelligence with a direct, investor-oriented perspective—making him a trusted voice in the Canadian and U.S. junior markets.
- 20+ years’ experience in small-cap, resource, and emerging markets
- Frequent guest on BNN Bloomberg, CNBC, Reuters
- Founded The Midas Letter in 2008, now a trusted source for global investors
- Delivers actionable insights on commodities, technology, and capital markets
- Engages a worldwide audience of institutional investors, family offices, and active traders
You can reach James West on X (formerly Twitter) at @MidasLetter or through his website at Midas Letter
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