Copper exploration / Explorer, pre-resource / Copper
Copper One Resources
CSECEXYOTCCEXYF
Copper One Resources is a British Columbia-incorporated copper explorer, renamed from Giant Mining in April 2026 with a 10-for-1 share consolidation [2]. Its flagship is the Majuba Hill copper-silver-gold system in Nevada, supported by the Redonda and Redhill projects in British Columbia, the Sport project in Utah and, announced October 7, 2026, the Sword & Gossan nickel-copper-cobalt properties in Labrador [1][3][6][13]. No property has a current compliant mineral resource. The shares trade on the CSE as CEXY and over the counter in the U.S. as CEXYF; June financing warrants trade as CEXY.WT [1][5].
Primary assets & business
- Majuba Hill, Nevada: porphyry-style copper-silver-gold system; roughly 93,410 feet of cumulative drilling; Phase 2 expanded September 2026 to up to 10,000 feet targeting a maiden NI 43-101 resource [9][10]
- Redonda, British Columbia: roughly 2,746-hectare copper-molybdenum project, acquired from Uranium One Mining for C$1.1 million in a transaction the seller disclosed as related-party [7][15]
- Redhill, British Columbia: option to earn up to 100% of a VMS/epithermal property [3]
- Sport, Utah: 108 lode claims acquired September 2026 for 14 million shares at a C$0.55 deemed price; no established resource or reserve [6]
- Sword & Gossan, Labrador: nickel-copper-cobalt properties under an October 2026 agreement for C$3.65 million cash plus advance royalties; subject to CSE acceptance and due diligence [13]
Financial position
| Basic shares outstanding | 46,368,949 | Oct 8, 2026 (CSE profile) [1] |
|---|---|---|
| Special warrants outstanding | 19,889,750C$7,955,900 gross raise at C$0.40 per special warrant | Closed Sep 29, 2026; convert to shares plus half-warrants [12] |
| Listed warrants (CEXY.WT) | 6,250,000 | Jun 24, 2026 financing; C$0.70 exercise to Jun 24, 2027 [4][5] |
| RSUs | ~4.18M | 730,000 at Jul 1, 2026 plus 3.45M granted Oct 7, 2026 [13] |
| Share price snapshot | C$0.48A quotation, not a target | Intraday, Oct 8, 2026 [14] |
Canadian dollars unless noted. Financing proceeds are gross announced figures, not current cash; no post-transaction balance sheet has been published.
Ownership & capital structure
| Rooinek vendors (Sport acquisition) | Not yet verified14,000,000 shares issued September 2026, about 30% of the basic count; four-month-plus-one-day hold to approximately January 29, 2027 [6] | |
|---|---|---|
| Insider participation in financings | Not yet verifiedThe June 2026 placement included insider participation under MI 61-101 exemptions [4] |
What has to happen next
- Majuba Phase 2 assays and cross-sections: continuity between sections, not headline intervals [9]
- First compliant NI 43-101 resource at Majuba, with representative metallurgy: the transition to resource-based valuation [9]
- Special-warrant conversion: prospectus qualification or automatic conversion around late January 2027 adds up to roughly 19.9 million shares [12]
- Sword & Gossan closing: CSE acceptance, due diligence, and the C$2.5 million second cash payment within six months [13]
- CEXY.WT expiry June 24, 2027: funding if above C$0.70, expiry otherwise [5]
Research checkpoints, not a dated event calendar or a promise of outcomes.
Valuation context
At the October 8 snapshot of C$0.48, the 46.37 million basic shares imply a market capitalization of roughly C$22.3 million [1][14]. With no compliant resource, recoveries or economics, an EV-per-pound or NAV model would be false precision; the valuation is best understood as funded exploration optionality whose outcome depends on Phase 2 drill evidence. Success cases should be modeled against a potential share count approaching 80 million once special warrants, warrants and RSUs are included.
Mandatory reading
Key risks
- Dilution before geological de-risking across acquisitions, special warrants, warrants and RSUs
- No compliant resource, modern metallurgy or economic study at any property
- Related-party history: the Redonda purchase was disclosed by the seller as an MI 61-101 related-party transaction [15]
- Competing cash commitments across four active project areas against unaudited post-financing liquidity
Source documents
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