Coda Minerals Ltd
(ASX: COD)Share Price and News
About Coda Minerals
Coda Minerals is an Australian-based mineral exploration company. It is focused on the Elizabeth Creek copper-cobalt project in the highly prospective Olympic Copper Belt in South Australia, lying only 100km south of BHP's Olympic Dam mine.
The project itself has several advantages including a favourable location, favourable infrastructure, solid geology and superior project economics. It offers exposure to a commodity which is likely to be a major beneficiary from the global trend towards decarbonisation. It has a Resource of 5.5Mt @ 1.6% copper equivalent and a pre-tax NPV of $1.2bn.
Coda's Company History
Coda Minerals originated from Gindalbie Metals in the mid-2000s which bought in China's Ansteel to develop the gigantic Karara iron ore deposit in WA. This was written down in 2013 given the iron ore bust and the new team sought to create value from Gindalbie's remaining assets.
Gindalbie started a farm-in with Torrens Mining in 2016 to earn up to 75% of what would become Elizabeth Creek (then Mt Gunson). Coda and Torrens went public in 2020-21. 2021 was a major year for the company seeing a major re-rating due to exploration success - shares went up to $1.40 per share. But shares cooled down as there were concerns about the project's scale and how it would be mined.
In 2022, Coda Minerals bought out Torrens and continued exploration at surrounding deposits. As of 2025, it has an NPV for the project, but is also looking for potential expansion of the project's deposit.
Future Outlook of Coda Minerals (ASX: COD)
Looking ahead, Coda Minerals' outlook hinges on its exploration success and the broader copper market environment.
Coda Minerals' risks are inherent to junior explorers, including funding and geological challenges. Despite the long-term need for copper, copper prices have stagnated in recent months with Trump's tariffs.
Investors should watch the upcoming drilling results and any moves toward potential joint ventures or farm-in agreements that could accelerate development.
Is Coda a Good Stock to Buy?
Coda Minerals could be suitable for investors with a high-risk tolerance looking for exposure to copper exploration in Australia. But its fate will hinge on its ability to grow the deposit and bring it into production. Patience and monitoring of operational milestones will be key.
Our Stock Analysis
Coda Minerals – One of the world’s most inexpensive copper plays
Thursday 23 March 2023 was not a great day to be a shareholder of Coda Minerals (ASX:COD), developer of a…
Frequently Asked Questions
Key risks include exploration failure, funding constraints, and geopolitical issues in Papua New Guinea. Commodity price fluctuations also impact the stock's performance.