en.Wedoany.com Reported - Citigroup recently raised its copper price forecast, upgrading its short-term outlook to $14,500 per metric ton and setting a target of $15,000 per ton for the next six to twelve months. This adjustment reflects market expectations of tightening supply and growing demand driven by energy transition projects and data center expansion.
Copper One Resources Corp. (CSE: CEXY; OTC: CEXYFF; FWB: YW5) announced the completion of the acquisition of a 100% undivided legal and beneficial interest in nine mining claims within the Red Copper Mining Claim Area in British Columbia. The claims are located northeast of Campbell River in the Vancouver Mining Division, with mineral rights transferred to Copper One Resources on May 11, 2026. Copper One Resources paid C$1.1 million in cash and assumed an existing 3% net smelter return royalty held by Homegold Resources Ltd. The transaction was completed after Uranium One Mining Corp. fulfilled prior obligations, including the payment of a deferred C$300,000 balance to Homegold.
Copper One Resources' primary asset is the Majuba Hill Copper Project in Nevada. According to the company's May 2026 investor presentation, a Phase 1 10,000-foot drilling program is underway within defined target areas. Previous drilling in 2025 completed five holes totaling 5,484.5 feet, with four holes extending known copper mineralization and one hole testing an AI-identified resistivity anomaly. Since 2020, the company has completed over 89,000 feet of drilling across more than 110 holes. Surface sampling in 2025 also identified additional copper anomalies consistent with prior trends.
On the market front, NVIDIA CEO Jensen Huang stated during Computex 2026 that copper should be used as much as possible, but noted its limitations. Copper prices retreated from a three-week high of $14,040.50 per ton due to heightened tensions in the Middle East, closing near $13,916 per ton.
Analyst John Newell noted that Majuba Hill exhibits characteristics consistent with porphyry copper systems, with technical price targets of C$0.75 and C$1.40 following a breakout above the previous trendline, while maintaining a speculative buy rating and a long-term target of C$2.74. In terms of share structure, Copper One Resources reported approximately 105 million shares outstanding and 123.4 million fully diluted shares in February. Subsequent disclosures mentioned 116.2 million shares outstanding, with a market capitalization near C$22.16 million, insider ownership of approximately 15.1%, and the remainder held by retail investors. The 52-week trading range is $0.0880 to $0.3175.
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