May. 13 at 2:15 PM
https://www.benzinga.com/partner/markets/26/05/52519167/novared-mining-offers-exposure-to-coppers-electrification-demand-surge-in-british-columbias-quesn
This is what 10 kilometers looks like in copper.
Ten kilometers. Six miles. That is the distance between
$NRED.CSE NovaRed Mining's Wilmac Copper-Gold Project and Hudbay Minerals' (NYSE:
$HBM ) Copper Mountain Mine.
Not the same country. Not the same region. Not even the same mountain range. Ten kilometers. The same distance as a short morning drive.
What sits 10 kilometers away:
Copper Mountain Mine is an open-pit copper, gold and silver operation processing 45,000 tonnes of ore per day. It is projected to produce over 1.6 billion pounds of copper over its lifespan. According to Hudbay's March 2026 reserve update, the mine holds 345 million tonnes grading 0.26% copper and 0.12 g/t gold in Proven and Probable Mineral Reserves. The New Ingerbelle expansion adds a projected 750,000 tonnes of copper, 900,000 ounces of gold and 5.5 million ounces of silver over the extended mine life - approved by the BC government in February 2026, extending operations through 2040+.
That is one of the most significant copper operations in Canada. And it sits in the same geological belt, in the same porphyry district, of the same alkalic type, 10 kilometers from Wilmac.
What NovaRed just found under that same ground:
Today, May 13, 2026, NovaRed released results from a historical 3DIP/AMT geophysical survey on the Lamont Grid - the primary Wilmac target area. The data outlined two separate intrusive centres with pipe-like features extending toward surface, interpreted as potential porphyry copper-gold targets. AMT resistivity modelling reached approximately 1,500 metres depth. Both anomalies coalesce into larger volumes at depth - open at depth, same as the systems that built the mines around them.
Copper-in-soil values on the North Lamont grid: up to 1,125 ppm copper - correlating with the geophysical anomalies. Two days earlier, the May 11 NR reported Cu to 379 ppm. Today's data adds 1,125 ppm. The geochemical and geophysical case is building layer by layer, target by target.
What already exists at that address:
Road access: established. Power: BC Hydro grid. Processing infrastructure: 10 kilometers away, 45,000 tonnes per day capacity. Regulatory track record: BC approved CMM's New Ingerbelle expansion in February 2026. Six major BC mining project approvals in the last 12 months.
NovaRed does not need to build a road. It does not need to build a power line. It does not need to prove that the geology works. The geology is already proven. The mine already exists. Ten kilometers east.
What the numbers say about the gap:
Hudbay Minerals (NYSE:
$HBM) market capitalization: approximately
$4+ billion.
NovaRed Mining (CSE:
$NRED.CSE / OTCQB:
$NREDF) market capitalization: approximately
$52 million CAD.
Ratio: roughly 75:1.
Both companies are in the same porphyry belt. Same geological type. Same province. Same infrastructure corridor. One has 106 years of production history and 345 million tonnes in reserves. The other has 16,078 hectares, four geological targets, a 3DIP/AMT survey showing twin intrusive centres, soil copper to 1,125 ppm, and a 2026 geophysical program currently in progress.
The gap between those two numbers is the question the market has not yet answered.
Copper today:
$6.55/lb. +39% year over year. LME new all-time closing high.
ICSG abandoned its surplus forecast and is now projecting a 150,000-tonne deficit in 2026.
The world needs new copper. The mines being built today take 17 years from discovery to production. A discovery in 2026 reaches production in 2043 - directly into the peak of the projected deficit cycle.
NovaRed is exploring at an address where copper has been mined for 106 years. Where the ground is proven. Where the infrastructure is built. Where the BC government just approved another 15 years of production at the neighbor's mine.
