As It Nears $10,000 A Ton, It’s Time To Make The Right Move Into Copper
- Goldman Sachs says copper is headed for $15,000 due to an “extreme scarcity episode.”1
- The voracious demand for copper is what led legendary mining financier, Robert Friedland, to say that the price of copper will soar so high that “you’ll need a telescope to see it.”2
- Blue chips and ETFs are the safe money, but if you’re looking for more leverage in a rising copper price environment, one junior copper explorer is worth watching.
Expert geologists say Rockridge Resources (TSX-V:ROCK, OTC:RRRLFTSX-V:ROCK, OTC:RRRLF) could be on to a new major copper discovery in Canada … in addition to the existing deposit already at the project.
On November 4, MINING revealed a new reality about copper to the world.
They surmised that expanding the copper supply was not an insurmountable goal, but it will take major investments in copper exploration, at a scale that has never before been attempted. They further emphasized the critical nature of the coming supply shortfall, claiming…
“Any copper junior with a deposit of significant size and grades, will have no problem attracting a major or mid-tier acquirer, that can help finance a future copper mine and bring it to commercial production.” 3
That’s why there’s a copper mining company that natural resource investors need to move onto their radars.
The crazy thing is this: the fact that the company just learned it could be sitting on significant amounts of copper and other metals… or that it’s run by people who’ve done millions in mining deals… well, those aren’t the biggest factors for investing in it.
The biggest reason for making a move into Rockridge Resources (TSX-V:ROCK, OTC:RRRLFTSX-V:ROCK, OTC:RRRLF) is timing. For while it’s generally true that you can’t time the markets… you can time a sector.
And, since January of 2020, world-class copper investing analysts and expert copper mining executives have been bellowing that global trends have combined to create a new bull market.
Investors have already caught on to the trend. Just take a look at what’s happened over the past two years.
The global shift that’s abandoning fossil fuels for electric, solar, and wind power appears to have decades to run, as infrastructure plans continue to unfold.
A who’s who of analysts agree that the energy revolution is barreling down the track into historic copper shortages.
- Goldman Sachs’ world-famous copper analytics team forecast that copper would reach $5.40 a pound or $11,875 a metric ton.4 They went even farther with their long-term forecast. It set the price of copper at $6.80 a pound, or $15,000 a metric ton by 2025.5
- Moreover, the analysts, Nicholas Snowden, Jeffrey Currie, Daniel Sharp and Mikhail Sprogis, doubled down on their forecast. They wrote that copper’s price strength is not an irrational aberration, “Rather, we view it as the first leg of a structural bull market in copper.” 6
- Mark Lewis, the chief sustainability strategist at BNP Paribas Asset Management, was just as bullish. He told The Guardian, “It feels like any market you look at, investors want to buy.” Lewis went on to say that the next 30 years should be copper’s “supercycle” thanks to a worldwide acceptance of clean and green energy.7
What that means for investors is that copper will continue to spike, and copper producers and explorers will rise right along with it. One thing we know for certainty – there will be plenty of opportunities in copper.
It’s a trend Rockridge Resources (TSX-V:ROCK, OTC:RRRLFTSX-V:ROCK, OTC:RRRLF) could be poised to benefit from.
The EV Market Needs 25 Billion lbs. of Copper
There are a total of 5.6 million EVs on the road worldwide currently. Deloitte’s research estimates annual sales could top 11.2 million in 2025 and 31.1 million by 2030.
According to their research, fully electric vehicles will then account for 81% of all new EVs sold, outperforming their plug-in hybrid peers.
What many people don’t know is that there is three times as much copper in an electric vehicle battery than there is lithium… 44 pounds of copper to 14 pounds of lithium. That amounts to 25 billion pounds of copper over the next 8 years.
And that’s just in the battery itself, not including the substantial amount of copper wiring electric vehicles require.
In fact, electric vehicles use more than twice the copper of a hybrid vehicle and as much as ten times as much copper as an internal combustion engine.8
Now consider that existing mines are expected to see slowed production during the next decade.
As the Commodities Research Unit has forecasted,
“Global copper mined production will drop from the current 20 million metric tons to below 12 million Mt by 2034."9
That means we’re heading towards a supply shortfall of more than 15 million Mt.10
On top of that, more than 200 copper mines are expected to run out of ore before 2035, with not enough new mines in the pipeline to take their place.11
“It’s a bit inspiring, provocative, and scary. If you look at the entirety of our supply chain … all the way back to the mines … today what we have installed represents well under 10% of what we will need as a planet. Meaning greater than 90% of that supply chain does not yet exist.”
– R.J. Scaringe, CEO of electric truck maker Rivian, from the April 21, 2022 AXIOS
That begs the question… At 183 pounds of copper per car, where will another 62 billion pounds of copper come from? 12
Clearly, the best option is from North America. The alternative is concerning, for as Michael O’Kronley, CEO of battery recycler Ascend Elements, put it…13
"If we don't do this, if we don’t as a country invest in our supply chain, it will go to the lowest-cost country, which is China."
And Simon Moores, CEO of Benchmark Mineral Intelligence didn’t hold back when he stated,
"If the U.S. does not connect every link in the supply chain from mine to battery cell, then its EV ambitions could fall apart." 14
China’s Hardball Stance on Critical Minerals
Never has North America’s need for energy independence been more obvious, as a long-time reliance on imported goods has resulted in supply chain disturbances across a large number of sectors.
It’s served as an unfortunate, but necessary lesson on the importance of strengthening domestic manufacturing and production.
Japan learned this lesson in 2010 when, in a dispute over the boundary of fishing waters, the Chinese government blocked exports to Japan of a crucial category of minerals used in products like hybrid cars, wind turbines and guided missiles.
China’s insatiable resource demand could just as easily hamstring the American EV battery industry.
“If China wanted to cut off supplies of processed materials for li-ion batteries, as it did with rare-earth materials to Japan in 2010, it would create a dire situation.” 15
Abigail Wulf, Director of the Center for Critical Minerals Strategy
If that weren’t enough, China has already played dirty with the U.S. in the past.
In an effort to force the company operating the Mountain Pass Mine in California into bankruptcy, China lowered the price of global rare earth minerals. Thankfully, a U.S. company, MP Mine Operations, rode to the rescue with $20.5 million.16
Yet another reminder of the importance of expanding North American exploration projects.
And with what could be a significant copper resource, Rockridge Resources (TSX-V:ROCK, OTC:RRRLFTSX-V:ROCK, OTC:RRRLF) Knife Lake project has the potential to play an important role as America and Canada shift their focus to resource independence.
North America Gains Edge in the Race for EV Critical Minerals
While North America has lagged in establishing domestic resources, China has moved aggressively to secure their copper supply line, as they’ve done with lithium and other critical minerals.
One of the big differences, however, is that copper is one of the few natural resources China lacks. The country only has 4.6% of global copper resources, and yet China’s smelters refine more than half of the world’s total capacity.17
But there’s another factor at play here, and this one is key. In contrast to China’s limited copper resources, North America is estimated to hold an exceedingly abundant supply, as much as 108 million metric tons.18
That reality is what sent Chinese mining companies on a spree that’s lasted for years, with them buying up as many of the world’s copper miners as they can.
Zijin‘s ambitions have led it to acquire stakes in the Democratic Republic of Congo’s biggest copper deposit Kamoa Kakula, in Serbia’s BOR copper complex, and Tibet’s massive Qulong copper mine.19
China currently has 52 primary copper projects across Africa and Europe, accounting for 60% of its foreign project total.
They’ve expanded at an astronomical pace, with projects in Africa, Australia, Latin America, North America, and Pacific/Southeast Asia.20
And for good reason, the country’s energy plans over the next decade are going to require substantial amounts of copper.
Demand in China is Expected to Jump 5X by 2025, and 10X by 2030
Here’s the reality.
There are no batteries without a steady supply of copper. And competition for raw materials is about to ramp up in a big way.
BOCI Global Commodities, forecasts that demand from copper intensive EVs and charging stations in China should reach around 540,000 metric tons of copper in 2025, up from 110,000 metric tons in 2020.21
That’s a 5X jump in demand during the next three years.
It’s all part of China’s plan to build enough charging stations for 20 million electric vehicles by 2025.22
Then things go into hyper speed.
BOCI analysts forecast copper demand in China will reach 1 million metric tons by 2030 and 1.3 million metric tons by 2035.23
The BOCI forecast assumes an average of 176 pounds of copper in EVs and 15 pounds of copper in each charging station.
And that’s just in China.
The U.S. Has BIG Plans, Too
In just eight years, half of all vehicles sold in the U.S. are expected to be electric.
According to IBIS World, that breaks down to a shocking 7.5 million EVs based on today’s 15.3 million in new-car sales.24
In an effort to move that initiative forward, the plan calls for $174 billion for electric vehicle industry support.25
That’s great news for copper producers.
The plan includes funding to “establish grant and incentive programs for state and local governments and the private sector to build a national network of 500,000 EV chargers by 2030.”26
Now keep in mind, there is an average 15 pounds of copper in each charging station, so with the flick of a pen, another 7.5 million pounds of copper was just added to U.S. demand.
Right now, the U.S. only has about 5% of the manufacturing capacity needed to hit that target, according to the Energy Department.27
That’s why in March, the Cold War-era Defense Production Act was invoked to encourage mining and processing for resources such as lithium, nickel, graphite and copper.
Meanwhile, carmakers like Tesla, Ford, and Toyota are scrambling to build their own battery plants to guarantee parts for their planned EV production.28
And now Elon Musk is encouraging an even more proactive stance, calling on carmakers to get into the mining game as a necessary means to secure their lifelines.
That could put companies such as Rockridge Resources (TSX-V:ROCK, OTC:RRRLFTSX-V:ROCK, OTC:RRRLF) in the supply chain driver’s seat as these initiatives unfold.
Notable Copper Resources in Flin Flon Mining Camp
Rockridge Resources’ Knife Lake property in Saskatchewan is located within the world-famous copper and VMS destination known as the Flin Flon Mining District.
With growing geopolitical tensions globally, projects with proven resources in stable western mining jurisdictions could start commanding higher premium valuations. Saskatchewan was also recently ranked the #2 mining district globally by the Fraser Institute.
So far Rockridge’s Knife Lake project, in the district’s northwestern corner, has been lightly explored.
The company has completed several small drill programs and recently carried out a helicopter-borne electromagnetic and horizontal magnetic gradiometer survey that used Geotech’s cutting edge VTEM Plus System to look deep into the earth at Knife Lake.
What they identified on their 320 square mile property were highly prospective targets to could host additional copper deposits much like the existing Knife Lake deposit at the project.
The company has previously reported an indicated resource of 3.8 million metric tons at more than 1% copper equivalent and 7.9 million metric tons of inferred copper at 0.67% copper equivalent. This Knife Lake deposit is predominantly copper but also contains silver, gold, cobalt and zinc as well.
This amounts to potentially over $800 million in gross metal value.
It all added up to a single determination – Knife Lake appears to be a classic Flin Flon VMS deposit which typically occur in clusters.
Now it may not seem like it, but that’s a big deal.
Since its initial discovery back in 1915, the Flin Flon has produced over 170 million tons of copper and zinc from 31 deposits – a resource haul worth in excess of $25 billion dollars.29
Its robust discovery potential in and around Flin Flon have paved the way for the successes in Glencore-supported Foran Mining (TSX:FOM) along with Hudbay (NYSE:HBM), which have both performed very well in the last two years. Foran was trading at less than CAD $0.20 / share in October 2020 and is currently trading above CAD $2.00 / share.
The region has such consistent resource potential, that more than 50% of the deposits discovered here have been advanced to production.
That figure will likely pick up as demand for new resources in safe jurisdictions continues to soar.
And because the Flin Flon is well established, over $1.8 billion has been invested in infrastructure with one goal in mind. The roads, rail, power, and milling infrastructure are there to facilitate quick development.
That means any new discoveries at Rockridge Resources (TSX-V:ROCK, OTC:RRRLFTSX-V:ROCK, OTC:RRRLF) Knife Lake project could move forward quickly towards development.30
‘Hall of Fame’ Geologist Could Help Deliver in a Big Way
Like some other highly successful miners exploring in the Flin Flon jurisdiction, Rockridge has strong management.
The CEO, Jonathan Wiesblatt, spent the last 15 years as an institutional investor working as a Portfolio Manager for several multi-strategy funds, and a Canadian Equity Mutual Fund at Sprott Asset Management.
We imagine it’s an advantage for small Rockridge Resources to have a CEO who knows the ins and outs, as well as the telephone and email directory at Sprott Inc. and other asset managers.
President and Director, Jordan Trimble, is a management and corporate financing veteran. His deep experience and foresight led him to assemble an all-star mining team and advisory board, with Ron Netolitzky at the top of the list.
Incredibly, Rockridge grabbed the attention of a legend.
Ron Netolitzky was the geologist on three exceptional mineral property discoveries that were put into production: Snip Creek and Eskay Creek in British Columbia, and Brewery Creek in the Yukon.
Netolitzky’s first success came at Eskay Creek, which prior had a fruitless exploration history dating back to the 1930s.
In the end, Stikine Resources, which owned Eskay Creek, would see its shares soar 6,600% from $1 to $67, the price at which International Corona paid for it.31
As President of Loki Gold, Netolitzky transformed the Brewery Creek project into an open-pit heap leach operation. Producing 200,000 ounces of gold a year from 1996 to 2002.32
Netolitzky’s projects have ended up being owned by the likes of Yamana Gold, Newmont Mining, NovaGold and Teck Resources.33
For his achievements, Netolitzky was honored with the Prospector of the Year award from the Prospectors & Developers Association of Canada (PDAC), and Developer of the Year award from the BC & Yukon Chamber of Mines.
In 2015, he was inducted into the Canadian Mining Hall of Fame.34
Netolitzky will be providing his technical expertise to a management team at Rockridge that also has decades of mining experience under its belt.
More recently, Rockridge added Dr. Andrew J. Ramcharan Ph.D., P.Eng, FAusIMM as Senior VP of Corporate Development.
Dr. Ramcharan has an extensive background in corporate development, mining and exploration, project evaluation, and investment banking spanning over twenty years. Previously, as Manager of Corporate Development for IAMGOLD, Dr. Ramcharan was involved in raising over $600 million in equity financings and worked on project acquisitions totalling over $800 million.
6 Reasons Investors Should Turn Their Focus To Rockridge Resources (TSX-V:ROCK, OTC:RRRLFTSX-V:ROCK, OTC:RRRLF)
- Driven by a fundamental global energy shift, there is now no doubt that copper is entering what many analysts are calling a 30-year supercycle, with $10,000 per metric ton being copper’s new normal.
- There are now a total of 5.6 million EVs on the road worldwide. Based on a compound annual growth rate of 29%, Deloitte’s research estimates annual sales could top 11.2 million in 2025. At this milestone, fully electric vehicles will account for 81% of all new EVs sold according to the research, outperforming their plug-in hybrid peers.35 Electric vehicles use at least 100 pounds more of copper than the internal combustion engines that power tradition vehicles. At 183 pounds of copper per car, as much as 62 billion pounds of copper are needed in just the next couple of years.
- Wind energy requires on average 2,000 tons of copper per gigawatt, while solar needs about 5,000 tons per gigawatt — between 2021 and 2022 the U.S. Energy Administration forecasts that 23 GW of wind and 34 GW of solar power is expected to come online.
- Just as the copper supply outlook gets dire, Rockridge Resources arrives on the scene with its indicated resource at Knife Lake of 3.8 million metric tons at more than 1% copper equivalent and 7.9 million metric tons of inferred copper equivalent at 0.67%. That is potentially hundreds of millions of dollars in total metal value in the ground.
- Led by a top-tier management and geological team, Rockridge is looking to find more copper at the Knife Lake project with upcoming exploration and drill programs. New mineral discoveries can generate major returns for investors as Rockridge looks to emulate the success that other companies have had in the prolific Flin Flon camp.
- Here’s how MINING explained acquisition prospects for early-stage copper explorers – “Any copper junior with a deposit of significant size and grades, could attract a major or mid-tier acquirer, that can help finance a future copper mine and bring it to commercial production.” 36
With the hunt for new copper resources now part of an urgent American initiative, you could expect Rockridge Resources to stay in the news for years to come.
The mining sector’s cards are face-up on the table as demand for copper only grows more intense. Yet, sizable new mines are becoming increasingly difficult to find.
And that is why you should show your broker or adviser this story. Then do your own due diligence by visiting the company website, to take a good look at Rockridge Resources (TSX-V:ROCK, OTC:RRRLFTSX-V:ROCK, OTC:RRRLF) before more exploration and drilling is carried out.
Learn More About Rockridge Resources (TSX-V:ROCK, OTC:RRRLFTSX-V:ROCK, OTC:RRRLF) at your brokerage today!
1.https://www.mining.com/goldman-sees-copper-price-breakout-risk-of-extreme-scarcity-episode/
2.https://katusaresearch.com/dr-copper-signals-bull-market-is-on/
3.https://www.mining.com/web/copper-discovery-cupboard-bare/
4.https://www.mining.com/goldman-sees-copper-price-breakout-risk-of-extreme-scarcity-episode/
5.https://www.mining.com/goldman-sees-copper-price-breakout-risk-of-extreme-scarcity-episode/
6.https://www.miningweekly.com/article/copper-bull-market-now-fully-under-way-goldman-sachs-2020-12-02/rep_id:3650
7.https://www.theguardian.com/business/2021/feb/17/mining-boom-commodity-supercycle-copper-nickel-price-investments-clean-energy
8.https://www.reuters.com/article/sponsored/copper-electric-vehicle
10.https://www.mining.com/web/copper-the-most-critical-metal/
11.https://www.mining.com/web/copper-the-most-critical-metal/
12.https://www.mining.com/web/copper-the-most-critical-metal/
13.https://www.automotiveworld.com/news-releases/deloitte-worldwide-roads-on-course-for-31-1-million-electric-vehicle-milestone-by-2030/
14.https://www.axios.com/the-race-to-dominate-the-new-battery-economy-119e0479-46a7-47ec-885f-f00079c4adb5.html
15.https://www.axios.com/the-race-to-dominate-the-new-battery-economy-119e0479-46a7-47ec-885f-f00079c4adb5.html
16.https://www.wardsauto.com/industry-news/expert-warns-china-calling-shots-ev-battery-materials
17.https://www.mining.com/mountain-pass-sells-20-5-million/
18.https://www.metalbulletin.com/Article/3954297/FOCUS-China-to-reassess-domestic-base-metals-mines-to-bolster-resource-security.html
19.https://www.statista.com/statistics/273637/copper-reserves-by-country/
20.https://www.metalbulletin.com/Article/3954297/FOCUS-China-to-reassess-domestic-base-metals-mines-to-bolster-resource-security.html
21.https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/chinese-foreign-mining-investment-8212-china-s-private-sector-eyes-low-cost-regions-63066809
22.https://auto.economictimes.indiatimes.com/news/auto-components/copper-use-in-chinas-ev-sector-to-jump-fivefold-by-2025-boci/82043044
23.https://www.protocol.com/bulletins/china-infrastructure-plan-ev
24.https://auto.economictimes.indiatimes.com/news/auto-components/copper-use-in-chinas-ev-sector-to-jump-fivefold-by-2025-boci/82043044
25.https://www.ibisworld.com/us/bed/new-car-sales/88203/
26.https://www.axios.com/the-race-to-dominate-the-new-battery-economy-119e0479-46a7-47ec-885f-f00079c4adb5.html
27.https://www.recyclingtoday.com/article/biden-jobs-plan-steel-aluminum-copper/
28.https://www.reuters.com/business/energy/syrah-resources-gets-107-mln-us-loan-louisiana-ev-battery-plant-2022-04-19/
29.https://www.nbcnews.com/business/autos/toyota-joins-race-build-batteries-us-rcna7805
30.https://aheadoftheherd.com/mining-hall-of-famer-appointed-to-rockridge-technical-advisory-board/
31.https://aheadoftheherd.com/mining-hall-of-famer-appointed-to-rockridge-technical-advisory-board/
32.https://www.visualcapitalist.com/story-golden-triangle-british-columbia/
https://aheadoftheherd.com/mining-hall-of-famer-appointed-to-rockridge-technical-advisory-board/
33.https://aheadoftheherd.com/mining-hall-of-famer-appointed-to-rockridge-technical-advisory-board/
34.https://aheadoftheherd.com/mining-hall-of-famer-appointed-to-rockridge-technical-advisory-board/
35.https://www.automotiveworld.com/news-releases/deloitte-worldwide-roads-on-course-for-31-1-million-electric-vehicle-milestone-by-2030/
36.https://www.mining.com/web/copper-discovery-cupboard-bare/
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FORWARD LOOKING INFORMATION
This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect expectations regarding Rockridge Resources Ltd. future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Rockridge Resources Ltd. industry; (b) market opportunity; (c) Rockridge Resources Ltd. business plans and strategies; (d) services that Rockridge Resources Ltd. intends to offer; (e) Rockridge Resources Ltd. milestone projections and targets; (f) Rockridge Resources Ltd. expectations regarding receipt of approval for regulatory applications; (g) Rockridge Resources Ltd. intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Rockridge Resources Ltd. expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Rockridge Resources Ltd. business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Rockridge Resources Ltd. ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Rockridge Resources Ltd. ability to enter into contractual arrangements; (e) the accuracy of budgeted costs and expenditures; (f) Rockridge Resources Ltd. ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption as a result of COVID-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Rockridge Resources Ltd. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Rockridge Resources Ltd. operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact Rockridge Resources Ltd. business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Rockridge Resources Ltd. business operations (e) Rockridge Resources Ltd. may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, the Website Host undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise.
HISTORICAL INFORMATION
Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Rockridge Resources Ltd. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Rockridge Resources Ltd. or such entities and are not necessarily indicative of future performance of Rockridge Resources Ltd. or such entities.
