NGEx Minerals: A Golden Opportunity in the Copper-Gold Rush

Investors, buckle up! Today's spotlight is on NGEx Minerals (NGQ.TO), a junior mining company that's just delivered a voting landslide at its AGM and is primed to strike gold—or rather, copper and gold—in one of the world's most promising mineral belts. Let's dig into what this means for shareholders and whether this is a stock to buy now or wait on the sidelines.

First, the numbers: At its June 19 AGM, 99%+ of votes backed every single director—including Erin Johnston, who still pulled 95.6% support despite facing the most opposition. That's a clear sign of shareholder confidence in the team's vision. And Joyce Ngo? She got 100% approval—zero votes against her. This isn't just a rubber-stamp board; it's a group that's earned trust.

But why? Because NGEx isn't just sitting on its laurels. The company's Lunahuasi project in Argentina is the real star here. Phase 3 drilling just delivered jaw-dropping results: 27.4 meters of rock grading 23.17 grams per tonne of gold—a number that rivals top-tier deposits like those in Nevada or Australia. This isn't just “gold”; this is high-margin gold, the kind that can turn a project from a curiosity into a cash cow.

The deposit's scale is expanding too. Now mapped to stretch 1.2 km north-south, 1.7 km east-west, and 1.2 km vertically, Lunahuasi is proving it's a monster in the making. And with plans for Phase 4 exploration starting in October . 2025, we're likely just scratching the surface of what this property holds.

But here's the kicker: NGEx isn't alone in its quest. The Los Helados project, a joint venture with Nippon Caserones (part of the Lundin Mining Group), sits right next to Lundin's Caserones mine, which is already producing copper. That proximity isn't a coincidence—it means infrastructure, logistics, and a proven mineralized zone are all in place.

Now, let's talk money. Yes, NGEx reported a Q1 2025 net loss of CAD 35.1 million. But here's the thing: exploration is an investment, not an expense. The company has CAD 170 million in cash and short-term investments—more than enough to fund its aggressive drilling plans without needing a dilutive equity raise. That's a huge plus for shareholders.

But wait—there's a catch. Argentina's political climate is always a wildcard. Commodity taxes or regulatory shifts could crimp profits. And let's not forget: copper and gold prices are tied to global demand. If the economy tanks, so could NGEx's valuation.

Still, the upside here is massive. If Lunahuasi hits its potential, we're talking about a project that could support a mine producing millions of ounces of gold-equivalent. And with Lundin's track record in the region, there's a good chance this isn't just a “story stock”—it's a project with legs.

Bottom Line: NGEx is a high-risk, high-reward play. The stock's recent performance—up 40% year-to-date—hints at investor excitement, but volatility is inevitable. For those with a stomach for mining's ups and downs, this could be a buy now at current levels. But keep a close eye on commodity prices and political winds in Argentina. This is a stock to own if you believe in the next great copper-gold discovery—and the team to deliver it.

This is not financial advice. Consult your advisor before investing.