NGEx Minerals, one of the most promising exploration companies in the Andean region, and one on which the market currently places high expectations.
NGEx Minerals Ltd. (TSXV: NGEX, OTCQX: NGXXF) is a Canadian company focused on the exploration of copper, gold, and silver deposits in South America. It is part of the Lundin Group, a conglomerate with a long history in the global mining industry. Its activity is primarily concentrated in the Vicuña District, an area of great geological potential located on the border between Chile and Argentina, where two of its most important projects are located: Los Helados and Lunahuasi.
The Los Helados project, in the Atacama Region of Chile, is one of the largest undeveloped copper-gold deposits on the continent, with NGEx controlling 69%. Lunahuasi, located in San Juan, Argentina, and wholly owned by NGEx, has been identified as one of the most promising discoveries with drill intersections worldwide, especially in light of the results published in 2024 and 2025. The company does not produce copper; instead, its focus is on the discovery and enhancement of world-class assets, developing resources to advanced stages and then evaluating their monetisation through spin-offs, sales, or partnerships. This approach has been successfully applied in the past with projects such as Josemaría and Filo del Sol, which have delivered very good returns for shareholders.
NGEx Minerals operates in high-altitude environments, facing significant logistical, climatic, and regulatory challenges, but it has the financial and technical backing of its parent group, as well as a successful track record of previous discoveries. Its asset portfolio and presence in one of the world’s most prolific metallogenic districts make it a key player to watch in the mineral exploration sector.
The TBG team has studied NGEx Minerals from multiple disciplines (geology, mining, metallurgy, ESG, management team and finance) to offer a holistic, neutral and objective view, considering both the risks and opportunities that the company faces.
What you get as a Truth Below Ground member.
- 30+ quantified and prioritized risks and opportunities.
- Independent technical analysis by discipline (geology, mining, metallurgy, ESG, finance).
- Alternative and independent valuation models (sum of parts, comparables).
- Individual opinions from each expert and integrated conclusion.
- Scenarios, catalysts, and key questions to build or discard the thesis.
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