Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

<ul>
<li>In the global copper market the news of trouble at <a href="https://www.smartkarma.com/entities/ivanhoe-mines-ltd" target="_blank" data-smartkarma-citation="entities:25338:1" rel="noopener">Ivanhoe Mines (IVN CN)</a> large Kamoa-Kakula mine in Congo dominated headlines.</li>
<li>Kamoa-Kakula is the fourth largest global copper mine ramping up supply in the coming years. The issues highlight the necessity for other projects such as Oyo Tolgoi in Mongolia. </li>
<li>In Mongolia, headlines were dominated by political unrest and a "secret" lawsuit by the Mongolian government against <a href="https://www.smartkarma.com/entities/rio-tinto-ltd" target="_blank" data-smartkarma-citation="entities:13:1" rel="noopener">Rio Tinto Ltd (RIO AU)</a>. </li>
</ul>


In the global copper market the news of trouble at Ivanhoe Mines (IVN CN) large Kamoa-Kakula mine in Congo dominated headlines.
Kamoa-Kakula is the fourth largest global copper mine ramping up supply in the coming years. The issues highlight the necessity for other projects such as Oyo Tolgoi in Mongolia. 
In Mongolia, headlines were dominated by political unrest and a "secret" lawsuit by the Mongolian government against Rio Tinto Ltd (RIO AU). 


Junior Copper Miners: Ivanhoe's Congo Issues Highlight Need for More Diversified Copper Supply

<ul>
<li>In April a Chinese buyer made an offer for Ross Beaty controlled <a href="https://www.smartkarma.com/entities/lumina-gold-corp" target="_blank" data-smartkarma-citation="entities:43346:1" rel="noopener">Lumina Gold (LUM CN)</a>, an Ecuador gold project. </li>
<li>One of our top picks <a href="https://www.smartkarma.com/entities/solaris-resources-inc" target="_blank" data-smartkarma-citation="entities:40176:1" rel="noopener">Solaris Resources (SLS CN)</a> surged on the back of this news as it indicates Ecuador is open for business after the re-election of President Noboa.</li>
<li>Copper prices have remained resilient despite ongoing "USA vs the World" trade war.</li>
</ul>


In April a Chinese buyer made an offer for Ross Beaty controlled Lumina Gold (LUM CN), an Ecuador gold project. 
One of our top picks Solaris Resources (SLS CN) surged on the back of this news as it indicates Ecuador is open for business after the re-election of President Noboa.
Copper prices have remained resilient despite ongoing "USA vs the World" trade war.


Junior Copper Miners: Ecuador Sees M&A Action by China

<ul>
<li>The 2024 vintage of "5 High Conviction Ideas" showed three stocks with positive performance and two with losses.</li>
<li>Our best performer was <a href="https://www.smartkarma.com/entities/plover-bay-technologies-ltd" target="_blank" data-smartkarma-citation="entities:24191:1" rel="noopener">Plover Bay Technologies (1523 HK)</a> which increased 157% in FY24. While our worst performer was <a href="https://www.smartkarma.com/entities/aem-holdings-ltd" target="_blank" data-smartkarma-citation="entities:11019:1" rel="noopener">AEM (AEM SP)</a> down over 60%.</li>
<li>Our 2025 vintage of top ideas is heavily copper-focused as we continue to believe the supply crunch in copper is real and set to get worse.</li>
</ul>


The 2024 vintage of "5 High Conviction Ideas" showed three stocks with positive performance and two with losses.
Our best performer was Plover Bay Technologies (1523 HK) which increased 157% in FY24. While our worst performer was AEM (AEM SP) down over 60%.
Our 2025 vintage of top ideas is heavily copper-focused as we continue to believe the supply crunch in copper is real and set to get worse.


Overview of My Winners and Losers in 2024...and 5 High Conviction Ideas Going Into 2025

<ul>
<li>Our insight 2024 High Conviction: Junior Copper Miners garnered significant interest in late 2023, we hereby provide another update on our favorite junior copper names.</li>
<li>Copper prices have started to tick up (+16% YTD) on squeezed global supply and <a href="https://www.smartkarma.com/entities/bhp-group-ltd-832e22a7-7a1d-49cf-b992-c6347084cbf8" target="_blank" data-smartkarma-citation="entities:21840:1" rel="noopener">BHP Group Ltd (BHP LN)</a>  making an offer for <a href="https://www.smartkarma.com/entities/anglo-american-plc" target="_blank" data-smartkarma-citation="entities:21798:1" rel="noopener">Anglo American (AAL LN)</a>.</li>
<li>Entree Resources (ETG CN) has performed strongest +29% while Arras Minerals (ARK V EQUITY) has been a laggard at -12% YTD.</li>
</ul>


Our insight 2024 High Conviction: Junior Copper Miners garnered significant interest in late 2023, we hereby provide another update on our favorite junior copper names.
Copper prices have started to tick up (+16% YTD) on squeezed global supply and BHP Group Ltd (BHP LN)  making an offer for Anglo American (AAL LN).
Entree Resources (ETG CN) has performed strongest +29% while Arras Minerals (ARK V EQUITY) has been a laggard at -12% YTD.


Junior Copper Miners: Many Juniors Are Lagging Copper Price YTD

<ul>
<li>2023 was the year of Uranium. Both the underlying commodity and most uranium equity-linked stories performed strongly.</li>
<li>2024 will be the story about copper and supply side issues becoming front and center as the "energy transition" benefits copper usage.</li>
<li>Buy a basket of junior copper companies with high M&amp;A likelihood such as <a href="https://www.smartkarma.com/entities/los-andes-copper-ltd" target="_blank" data-smartkarma-citation="entities:35434:1" rel="noopener">Los Andes Copper Ltd (LA CN)</a>, <a href="https://www.smartkarma.com/entities/solaris-resources-inc" target="_blank" data-smartkarma-citation="entities:40176:1" rel="noopener">Solaris Resources (SLS CN),</a> <a href="https://www.smartkarma.com/entities/arras-minerals-corp" target="_blank" data-smartkarma-citation="entities:40384" rel="noopener">Arras Minerals (ARK V EQUITY)</a>, and <a href="https://www.smartkarma.com/entities/entree-resources-ltd-3aeeb68c-80d0-4ada-822e-898883fbb28e" target="_blank" data-smartkarma-citation="entities:26727:1" rel="noopener">Entree Resources (ETG CN)</a>. </li>
</ul>


2023 was the year of Uranium. Both the underlying commodity and most uranium equity-linked stories performed strongly.
2024 will be the story about copper and supply side issues becoming front and center as the "energy transition" benefits copper usage.
Buy a basket of junior copper companies with high M&amp;A likelihood such as Los Andes Copper Ltd (LA CN), Solaris Resources (SLS CN), Arras Minerals (ARK V EQUITY), and Entree Resources (ETG CN). 


2024 High Conviction: Junior Copper Miners

Canada

Entree Resources Ltd. operates as a mining company. The Company develops and discovers gold and copper resources. Entree Resources is currently conducting exploration on its mineral concessions in Mongolia.

Price Gauge
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Entree Resources (ETG CN)

Junior Copper Miners: Ivanhoe's Congo Issues Highlight Need for More Diversified Copper Supply

Trouble at Ivanhoe Mines' Kamoa-Kakula mine in Congo and political unrest in Mongolia highlight challenges in the global copper market.

Nicolas Van Broekhoven

Junior Copper Miners: Ecuador Sees M&A Action by China

Chinese buyer's offer for Lumina Gold boosts Solaris Resources, signaling Ecuador's openness for business post-re-election of President Noboa,...

Nicolas Van Broekhoven

Overview of My Winners and Losers in 2024...and 5 High Conviction Ideas Going Into 2025

2024's "5 High Conviction Ideas" had mixed results, with Plover Bay Technologies soaring 157% while AEM Holdings plummeted over 60%. 2025's focus...

Nicolas Van Broekhoven

Junior Copper Miners: Many Juniors Are Lagging Copper Price YTD

BHP's bid for Anglo American has woken up generalist investors to the looming copper deficit forecast later this decade.

Nicolas Van Broekhoven

2024 High Conviction: Junior Copper Miners

2023 was a strong year for uranium in 2024 it could be copper's time to shine due to supply issues and the "energy transition." Consider investing...

Nicolas Van Broekhoven

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Junior Copper Miners: Ivanhoe's Congo Issues Highlight Need for More Diversified Copper Supply

​Trouble at Ivanhoe Mines' Kamoa-Kakula mine in Congo and political unrest in Mongolia highlight challenges in the global copper market.

Nicolas Van Broekhoven

Junior Copper Miners: Ecuador Sees M&A Action by China

​Chinese buyer's offer for Lumina Gold boosts Solaris Resources, signaling Ecuador's openness for business post-re-election of President Noboa,...

Nicolas Van Broekhoven

Overview of My Winners and Losers in 2024...and 5 High Conviction Ideas Going Into 2025

​2024's "5 High Conviction Ideas" had mixed results, with Plover Bay Technologies soaring 157% while AEM Holdings plummeted over 60%. 2025's focus...

Nicolas Van Broekhoven

Junior Copper Miners: Many Juniors Are Lagging Copper Price YTD

BHP's bid for Anglo American has woken up generalist investors to the looming copper deficit forecast later this decade.

Nicolas Van Broekhoven

2024 High Conviction: Junior Copper Miners

​2023 was a strong year for uranium in 2024 it could be copper's time to shine due to supply issues and the "energy transition." Consider investing...

Nicolas Van Broekhoven

Trouble at Ivanhoe Mines' Kamoa-Kakula mine in Congo and political unrest in Mongolia highlight challenges in the global copper market.

Chinese buyer's offer for Lumina Gold boosts Solaris Resources, signaling Ecuador's openness for business post-re-election of President Noboa,...

2024's "5 High Conviction Ideas" had mixed results, with Plover Bay Technologies soaring 157% while AEM Holdings plummeted over 60%. 2025's focus...

2023 was a strong year for uranium in 2024 it could be copper's time to shine due to supply issues and the "energy transition." Consider investing...