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>Our insight <a href="https://www.smartkarma.com/insights/2024-high-conviction-junior-copper-miners" target="_blank" data-smartkarma-citation="insights:122425" rel="noopener">2024 High Conviction: Junior Copper Miners</a> garnered significant interest in late 2023, we hereby provide an update on our favorite junior copper names.</li>
<li>Copper prices have started to to tick up (+5% YTD) on the back of gold making new all-time highs late in 1Q24, and more importantly squeezed global supply.</li>
<li>
<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>has performed strongest +22% while <a href="https://www.smartkarma.com/entities/arras-minerals-corp" target="_blank" data-smartkarma-citation="entities:40384:1" rel="noopener">Arras Minerals (ARK V EQUITY)</a> has been a laggard at -18% YTD.</li>
</ul>


Our insight 2024 High Conviction: Junior Copper Miners garnered significant interest in late 2023, we hereby provide an update on our favorite junior copper names.
Copper prices have started to to tick up (+5% YTD) on the back of gold making new all-time highs late in 1Q24, and more importantly squeezed global supply.

Entree Resources (ETG CN) has performed strongest +22% while Arras Minerals (ARK V EQUITY) has been a laggard at -18% YTD.


Junior Copper Miners: An Update After 1Q24

<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

Equity Bottom-Up

<ul>
<li>On Sunday 9th of February, the people of Ecuador headed to the polls to elect a new president. The first round was narrowly won by incumbent Noboa.</li>
<li>A run-off between Noboa and Gonzalez is planned for April 13th. A victory for either candidate is bullish Ecuador mining companies as both have a pro-mining stance.</li>
<li>Solaris Resources has been often targeted by anti-mining protestors in the past but a new stable government and a new Solaris CEO could catapult stock higher.</li>
</ul>


On Sunday 9th of February, the people of Ecuador headed to the polls to elect a new president. The first round was narrowly won by incumbent Noboa.
A run-off between Noboa and Gonzalez is planned for April 13th. A victory for either candidate is bullish Ecuador mining companies as both have a pro-mining stance.
Solaris Resources has been often targeted by anti-mining protestors in the past but a new stable government and a new Solaris CEO could catapult stock higher.


Solaris Resources: Elections in Ecuador Bullish for Commodity Stocks

<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

Canada

Los Andes Copper Ltd. explores for copper in Latin America.

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Los Andes Copper Ltd (LA CN)

Junior Copper Miners: An Update After 1Q24

Update on favorite junior copper miners as copper prices rise, Entree Resources (+22%) outperforms while Arras Minerals (-18%) lags.

Nicolas Van Broekhoven

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

Solaris Resources: Elections in Ecuador Bullish for Commodity Stocks

Ecuador's upcoming presidential election runoff between Noboa and Gonzalez could benefit mining companies, like Solaris Resources, with a pro...

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Junior Copper Miners: An Update After 1Q24

​Update on favorite junior copper miners as copper prices rise, Entree Resources (+22%) outperforms while Arras Minerals (-18%) lags.

Nicolas Van Broekhoven

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

Solaris Resources: Elections in Ecuador Bullish for Commodity Stocks

​Ecuador's upcoming presidential election runoff between Noboa and Gonzalez could benefit mining companies, like Solaris Resources, with a pro...

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

Update on favorite junior copper miners as copper prices rise, Entree Resources (+22%) outperforms while Arras Minerals (-18%) lags.

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,...

Ecuador's upcoming presidential election runoff between Noboa and Gonzalez could benefit mining companies, like Solaris Resources, with a pro...

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