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NGEx Minerals
NGEx Minerals, led by Wojtek Wodzicki, advances the Los Helados copper-gold deposit in Chile alongside Lundin Mining.
NGEx Minerals
NGEx Minerals is a Canadian mineral exploration company focused on discovering and developing large-scale copper-gold deposits in South America. Led by President and CEO Wojtek Wodzicki, the firm holds the flagship Los Helados project in Chile's high-altitude Region III, a porphyry copper-gold deposit situated within the prolific Vicuña mining district. The property is held under a joint venture, with NGEx controlling approximately 64% and Lundin Mining holding the remainder, formalized in 2019. The firm's strategy centers on advancing district-scale copper-gold systems through systematic drilling and technical studies. Its primary asset, Los Helados, contains an indicated resource of over 1.2 billion tonnes, making it one of the significant undeveloped copper discoveries in the Americas. Beyond Los Helados, NGEx also controls the Nacimientos and Potro Cliffs projects located nearby in San Juan Province, Argentina. The company takes a project-generator approach, conducting early-stage reconnaissance and drilling to derisk assets for eventual advancement or partnership with mid-tier and major mining companies. Headquartered in Vancouver, British Columbia, NGEx operates with a lean corporate structure typical of junior explorers. Publicly traded on the TSX under the symbol NGEX, the firm is part of the Lundin Group of companies, a network of resource entities linked by common management and strategic alignment. In July 2024, NGEx reported final assay results from Phase 3 drilling at Lunahuasi, a high-grade copper-gold-silver discovery within the Vicuña district, intersecting notable grades including 7.30% copper equivalent over 12 metres, reinforcing the district's expansion potential (per the firm's press release, July 2024). NGEx's structural differentiator lies in its access to capital and technical expertise through the Lundin Group ecosystem, which provides a pipeline of talent and deal flow typically unavailable to standalone junior explorers. The firm's long-standing in-country presence in Chile and Argentina, combined with a joint-venture structure that shares capital burden with a producing partner, reduces single-asset development risk while retaining meaningful upside exposure for equity holders.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Vancouver
Corporate office
Vancouver, British Columbia, Canada
Principals
Wojtek Wodzicki
President and CEO
Sector focus
Frequently asked questions
Who runs investment decisions at NGEx Minerals?
Wojtek Wodzicki, President and CEO, leads the company's strategic and capital allocation decisions. The board includes experienced mining executives from the Lundin Group ecosystem, providing oversight on major exploration budgets and joint-venture commitments. Technical decisions regarding drill targeting and project advancement are managed by the internal geology team based on systematic exploration results.
How is NGEx Minerals related to the Lundin Group?
NGEx is part of the broader Lundin Group of companies, a network of publicly traded resource entities that share common directors, management philosophy, and a history of successful mine development. The relationship provides NGEx with access to technical expertise and deal flow, while allowing it to operate as an independent public company. Lundin Mining is also the joint-venture partner on the Los Helados project, holding a minority stake.
What is the status of the Los Helados joint venture?
The Los Helados copper-gold project in Chile's Region III is held under a joint venture between NGEx Minerals (approximately 64% ownership) and Lundin Mining (36%), formalized in 2019. The agreement pools technical and financial resources while allowing both parties to share in the project's advancement. No construction decision has been made; the project remains at the exploration and resource definition stage.
What investment stages does NGEx Minerals typically target?
As a junior exploration company, NGEx targets early-stage to advanced-stage exploration of copper-gold systems. Its work includes grassroots reconnaissance, geophysics, and multi-phase diamond drilling programs designed to define and expand mineral resources. The firm does not operate producing mines and does not generate revenue from mining operations.
Which jurisdictions does NGEx Minerals operate in?
NGEx's primary operations are in South America, specifically Chile and Argentina. The Los Helados deposit is located in the Atacama Region of Chile, while the Nacimientos and Potro Cliffs projects are situated in San Juan Province, Argentina. All projects fall within the Vicuña copper-gold district along the Chile-Argentina border.
How does NGEx Minerals source proprietary exploration targets?
Target generation relies on the in-house geological team's regional expertise in the Andean porphyry belt, combined with extensive historical data compilation and early-stage field programs. The firm's long-standing presence in Chile and Argentina provides access to local geological knowledge and relationships that support land acquisition and permitting, an advantage for a junior explorer in a competitive jurisdiction.
Does the firm participate in fund commitments or only direct project investment?
NGEx does not make fund commitments. All capital is deployed directly into its own exploration projects through drilling, geophysical surveys, permitting, and community relations. The company funds operations through equity raises on the TSX, with Lundin family-affiliated trusts and related entities historically participating in financings.
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