NGEx Minerals Ltd. Makes a Major Discovery in Argentina

In a significant development for the mining sector, NGEx Minerals Ltd., a Vancouver-based mining exploration company, has announced the discovery of a major copper-gold porphyry system at its Lunahuasi project in San Juan, Argentina. This discovery has sent shares of the company soaring, reflecting investor optimism about the potential of this new find.

A Promising Discovery

The discovery was made at Lunahuasi, a high-grade copper-gold-silver project wholly owned by NGEx Minerals. The company reported drilling 1,619.4 meters at an average of 0.87% copper equivalent (CuEq), with a notable section of 876.4 meters at 1.13% CuEq. This significant find not only confirms NGEx’s geological interpretations but also opens up a new, large-scale exploration opportunity.

Market Reaction

Following the announcement, NGEx shares experienced a notable jump, underscoring the market’s positive reception to the discovery. The news was widely covered by financial and mining news outlets, including Mining Weekly, The Deep Dive, Stock Watch, and others, highlighting the potential impact on NGEx’s future operations and financial performance.

Financial Context

As of May 15, 2025, NGEx Minerals had a close price of CAD 12.02, with a 52-week high of CAD 14.91 and a low of CAD 7.82. The company’s market capitalization stood at approximately CAD 2.48 billion. Despite a negative price-to-earnings ratio of -30.6, the discovery at Lunahuasi could potentially alter the company’s financial trajectory by unlocking new revenue streams from copper and gold deposits.

Sustainability and Future Outlook

Earlier in May, NGEx Minerals also discussed its 2024 sustainability summary, indicating a commitment to responsible mining practices. The discovery at Lunahuasi aligns with the company’s strategic focus on uncovering and defining mineral resources globally, serving clients with a keen interest in copper and gold deposits.

Conclusion

The discovery of a major copper-gold porphyry system at Lunahuasi represents a pivotal moment for NGEx Minerals Ltd. It not only boosts the company’s exploration portfolio but also enhances its position in the global mining sector. As NGEx Minerals continues to explore and define the potential of this new find, investors and industry watchers will be keenly observing the developments at Lunahuasi and their implications for the company’s future growth and sustainability efforts.