Copper Hits Record High as Chilean Explorer Expands Anomalies

Copper prices hit an all-time high of US$14,617 per tonne on the London Metal Exchange on September 8, 2026. This surge reflects tight mine supply and rising demand from data centers and renewable energy projects. Global mined copper output fell 1.1 percent year-over-year in the first half of 2026. New large-scale mines typically take more than a decade to reach production. This supply gap creates a favorable environment for exploration companies.

Gelum Resources Ltd. is actively expanding copper and molybdenum anomalies at its Las Tinajas property in Chile. The company completed 403 new rock samples across the eastern half of the site. These samples extended previously identified copper anomalies by 200 meters. Molybdenum anomalies were extended by 90 meters. The results support the potential for a porphyry copper system beneath a dacite porphyry plug.

Sampling Extends Mineralized Zones

Gelum Resources holds a 2,600-hectare land package in the Maricunga Gold Belt. The region is known for gold and porphyry-style copper systems. The new sampling strengthens the case for mineralization at depth. Historical drilling returned an 84-meter intercept grading 0.96 grams per tonne gold. Surface sampling above the same structure returned 70 meters at 0.17 grams per tonne gold. Higher grades at depth suggest mineralization may improve below the surface.

Geophysical Survey Guides Drilling

The company is advancing a property-wide geophysical survey that is 50 percent complete. The survey will guide the next phase of drilling. Target areas include northwest and northeast extensions of silicic breccias. These zones contain sulphide-bearing structures and potential blind mineralization. Preliminary metallurgical testing is also planned to establish initial recovery parameters. The work aims to support a maiden NI 43-101 resource estimate.

Market Context and Valuation

Copper traded near US$6.78 per pound on September 9, 2026. This represents a 49 percent increase from a year earlier. Demand growth continues to outpace new supply additions. Gelum Resources maintains a market capitalization of CA$27.17 million. The company has 33.62 million shares outstanding. The 52-week range is CA$0.10 to CA$1.13. Analysts note bullish technical indicators for the stock.

GN auto markets/commodities: copper prices data confirms the record levels. Producers are evaluating existing exploration projects for potential acquisitions. Lengthy permitting and construction timelines limit new supply. Exploration results do not guarantee future resource definition. The company is testing targets for 2 to 3 million ounces of gold. An underlying porphyry copper system remains the primary long-term goal.