New Energy Weekly – Copper prices have soared

Copper prices have soared

Copper prices have soared and taken the share price of Capstone Copper (TSX: CS) with it. (Remember: We recommended readers buy Capstone in August 2022. We told you that copper would likely underpin the energy future.)

This is a strong move for the red metal. And I believe this move higher supports our thesis that copper is the key to an electrified future. Copper creates the highways that move energy from point A to point B. That is a certainty. And as the world comes to acknowledge it, the price will continue to climb.

The new year is off to a good start:

If you’ve been keeping up with our weekly updates, you know investing in copper will be a major theme for New Energy this year. And our original copper investment, Capstone Copper, is now up more than 121% since August:

We timed that buy pretty well. Now I’m watching for Capstone’s share price to make a new 52-week high. That’s just the highest price in the last 12 months, and it’s a good trend indicator. When a company’s shares break that mark, they will usually continue to climb.

I’m still excited about Capstone. The company’s Mantoverde project should be completed by the end of this year. That’s one of Capstone’s Atacama copper projects. It sits near the Santo Domingo copper-cobalt project. The company plans to develop both.

Once complete, the company says the mines have the “potential to become one of the largest and lowest cost battery-grade cobalt producers in the world.”

You can take a virtual tour of the combined projects on the company’s website.

I hope you are as pleased with Capstone’s performance as I am. 

I think this company has a long and successful couple of years ahead.

Best Regards,

Matt Badiali