Nomi Prins — JUNE ISSUE - The Copper Developer Ready for a Mining Giant Move
A new Founders+ portfolio addition: an under-the-radar Yukon copper-gold junior tied to the copper supply problem — the next name after a 137% win on Arizona Sonoran.
One-line take: the monthly Founders+ copper follow-up — Prins closed the Arizona Sonoran Copper (ASCU) position at a +137% gain after Hudbay's 30%-premium takeover, and is adding an under-the-radar, pre-resource Yukon copper-gold junior whose valuation is a fraction of what majors like BHP, Rio Tinto, Glencore and Vale are paying for future supply they can't drill fast enough. Her read on the "oversupply" headlines: copper near a record (~$6.42/lb, just off ~$6.70) looks surplus only because of tariff/inventory distortion — a 50% U.S. duty on semi-finished copper since last August (refined exempt) pulled metal into the U.S. while Chinese refined imports fell 40%. Note: this is the gated JUNE ISSUE — the actual Yukon copper-gold junior pick is behind the Founders+ paywall, so the specific ticker and buy-up-to price are not captured here.
1. Stocks & names mentioned
The free portion names the just-closed winner (ASCU), its acquirer (Hudbay), and the "majors" cited as the natural buyers of scarce copper; the new pick (a Yukon copper-gold junior) is paywalled. "View" reflects how each was framed. The "At" link opens the article. Research: QT Qualtrim · SA Seeking Alpha · STK Stock Analysis.
| Ticker | Name | Research | View | What she said | At |
|---|
| ASCU | Arizona Sonoran Copper | SA · STK · FA | Positive | Closed the position at a +137% gain after Hudbay agreed to buy it at a ~30% premium — the realized win that the new Yukon copper pick is meant to follow. | read |
| HBM | Hudbay Minerals | QT · SA · STK · FA | Positive | Bought Arizona Sonoran at a ~30% premium — the deal that delivered the 137% gain and confirms buyers will pay up for scarce copper. | read |
| BHP | BHP Group | QT · SA · STK · FA | Neutral | Named as one of the "majors" — the large global miners that buy future copper supply when they can't find or drill it fast enough, the natural acquirer behind the junior's upside. | read |
| RIO | Rio Tinto | QT · SA · STK · FA | Neutral | Cited as a "major" — a large miner that can buy future copper supply rather than drill it; framed as a potential acquirer in the takeover thesis. | read |
| GLEN | Glencore | SA · STK | Neutral | Cited as a "major" — one of the large global miners with the scale to acquire scarce copper development assets. | read |
| VALE | Vale | QT · SA · STK · FA | Neutral | Cited as a "major" — a large global miner that buys future supply when it can't drill fast enough; named among the potential acquirers. | read |
| Copper | Copper | — | Positive | Trading ~$6.42/lb, just off a record ~$6.70, despite "oversupply" headlines — the surplus is a tariff/inventory distortion (50% U.S. duty on semi-finished copper since August; refined exempt; Chinese refined imports –40%), masking the real supply squeeze. | read |
"View" reflects how each name was framed (Positive = realized winner / bullish on the metal; Neutral = a "major" potential acquirer), not a price rating. Built from the article's free/public portion; this is the gated JUNE ISSUE and Prins's specific Yukon copper-gold junior pick and buy-up-to price are reserved for Founders+ subscribers. Research: QT Qualtrim · SA Seeking Alpha · STK Stock Analysis.
2. Key points
A realized copper win
- In the May Founders+ semi-annual update, Prins closed the Arizona Sonoran Copper (ASCU) position at a +137% gain after Hudbay agreed to buy the company at a 30% premium — and flagged that another copper name would follow.
The new pick: a Yukon junior (paywalled)
- This month's addition is an under-the-radar Yukon copper-gold junior that's still pre-resource and largely off the market's radar — riskier than Arizona Sonoran was at acquisition, but valued at a fraction of what the majors have already paid. The specific name is reserved for Founders+ members.
- The "majors" — BHP, Rio Tinto, Glencore, Vale — are the large global miners that buy future supply when they can't find or drill it fast enough; they're the natural acquirers that make a cheap, build-ready junior valuable.
The "oversupply" is a distortion
- Copper trades ~$6.42/lb (just off a record ~$6.70) even as the official scorekeepers (ICSG) call the market oversupplied and exchange stocks across London, New York and Shanghai top 1.1 million tons, the highest since 2003.
- But the surplus is shaped by tariffs and inventory displacement: a 50% U.S. duty on semi-finished copper since last August (refined metal — what U.S. industry runs on — stayed exempt) pulled metal into the U.S., while Chinese refined imports fell 40% over the quarter. Prins reads that mismatch as opportunity, not genuine glut.
Summary derived from the public (free) portion of the Prinsights Substack article for personal study. Not investment advice; the author's specific recommendation is paywalled. © Nomi Prins / Prinsights for source material.