ASX copper stocks have recorded 3 big hits this week
Nick Sundich, November 4, 2022
ASX copper stocks have not been as popular with investors as lithium stocks recently. Copper has been plagued by China’s COVID zero policy and rising interest rates. But there have been some notable hits made by ASX copper explorers this week.
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Norfolk Metals leads the charge
Tasmanian-focused explorer Norfolk Metals (ASX:NFL) yesterday reported the intersection of native copper in the maiden drill test at its Roger River Project.
These were not formal assay results, these are coming in December. But the company did intersect visible copper and, in doing so in the first drilling hole, shareholders hope that further results will continue to deliver.
Other ASX copper hits this week
Another solid result from an ASX copper stock came from American West (ASX:AW1). The Canadian focused explorer recorded assay results of 19m @ 2.08%, including 2m at 15.98% copper.
And this morning, Cosmo Metals (ASX:CMO) reported results from its Mt. Venn project in Western Australia: 13m @ 0.46% copper, including 1m @ 1.27% copper. Typically, any copper grade below 1.3% is considered lower grade. But it appears shareholders are willing to forgive this given WA’s lower sovereign risk.
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