Sendero Resources
Sendero Resources Corp. is a publicly-traded junior mineral exploration company advancing the 211.7 km² Peñas Negras copper-gold project in Argentina's Vicuña District through diamond drilling and geophysics, serving public-market equity investors via TSXV and Frankfurt listings.
- Company typePublic
- Founded2020
- HeadquartersVancouver, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Sendero Resources does
Sendero Resources Corp. is a publicly-traded junior mineral exploration company focused on copper-gold exploration at its flagship Peñas Negras Project in the Vicuña District of La Rioja Province, Argentina. Through its wholly-owned Argentine subsidiary Barton SAS the company holds 100% of 120 km² of mining concessions and, via an arm's length 80/20 joint venture option signed March 4, 2024 with Energía y Minerales - Sociedad del Estado (EMSE), the provincial mining entity, has the right to earn into an additional 91.7 km², bringing the total land package to 211.7 km². The project sits adjacent to world-class Cu-Au discoveries held by Filo Mining, Lundin Mining, NGEx Minerals and BHP (Filo del Sol, Josemaria, Los Helados, Caserones) and hosts a cluster of drill-ready porphyry and epithermal targets — La Peña, La Ollita, Tamberías, Cerro Verde South — with the La Ollita discovery confirming a telescoped high-sulfidation epithermal / porphyry Cu-Au system during the maiden 2024 drill program.
The technical program uses PQ/HQ diamond core drilling, ionic leach and talus fines soil geochemistry, ground magnetics, induced polarization and magnetotelluric surveys, with samples processed at Alex Stewart's ISO 17025-certified laboratory in Mendoza under an industry-standard QA/QC protocol (blanks, CRMs and quarter-core duplicates at 10%). Technical disclosure is overseen by Qualified Persons under NI 43-101, with Director Steven McMullan (P.Geo, member of the Kamoa Copper Deposit Discovery Team and PDAC 2015 Thayer Lindsley awardee) and CEO Alex Gostevskikh (QP MMSA, 30+ years international mining experience at Kinross and Centerra) leading the team.
Sendero is pre-revenue and generates no product sales; it funds exploration entirely through equity financings. Since its TSX Venture Exchange debut on October 4, 2023 under symbol SEND, the company has raised approximately C$16M+ across a C$5.2M RTO financing (April 2023), up to C$3M shelf prospectus financing (May 2024), up to C$1.68M non-brokered placement (December 2024), a C$4.06M brokered placement led by Stifel Nicolaus Canada (December 2025), and a C$2M institutional placement (January 2026). Go-to-market is investor-facing — agent-led private placements, conference participation (Metals Investor Forum), media interviews with newsletter writers, organic social, and secondary trading on TSXV and the Frankfurt Stock Exchange (since February 2026). The capital base is anchored by a "Foundational Investing Group" of Peter Marrone (founder of Yamana Gold and Allied Gold), Pat DiCapo (PowerOne Capital Markets) and Argentine industrialist Eduardo Elsztain.
Sendero Resources firmographics
Firmographics- Name
- Sendero Resources
- Legal name
- Sendero Resources Corp.
- Website
- https://senderoresources.com
- Company type
- Public
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Sendero Resources Corp. is a publicly-traded junior mineral exploration company advancing the 211.7 km² Peñas Negras copper-gold project in Argentina's Vicuña District through diamond drilling and geophysics, serving public-market equity investors via TSXV and Frankfurt listings.
- Ownership category
- akta.pro rank
Where Sendero Resources is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Sendero Resources business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Others
Revenue model
- Pre-revenue mineral exploration: Sendero is a junior mineral exploration company that does not yet generate revenue from product sales. Capital is raised through equity financings to fund exploration of the Peñas Negras copper-gold project in Argentina.
- Equity financings (brokered & non-brokered private placements): Funds raised through issuances of common shares and warrants, e.g., $4.06M brokered private placement (Dec 2025) led by Stifel Nicolaus at $0.95/share, $2M institutional private placement (Jan 2026), and prior non-brokered and brokered raises including the original $5.2M RTO financing (April 2023). Proceeds fund exploration and general working capital.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Brokered private placement @ $0.95 per share (Dec 2025) |
| Unit Pricing | Pay-as-you-go | Non-brokered PP @ $0.12 per unit (Dec 2024) |
| Unit Pricing | Pay-as-you-go | Shelf prospectus financing @ $0.08 per unit (May 2024) |
| Unit Pricing | Pay-as-you-go | Initial RTO financing @ $0.20 per unit (March 2023) |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Sendero Resources product offering
Product offeringCore offering
Sendero Resources is a junior mineral exploration company that acquires, explores and develops copper-gold porphyry and high-sulfidation epithermal prospects, with its flagship Peñas Negras Project covering 211.7 km² of mining concessions in the Vicuña District of La Rioja, Argentina. The Company advances multiple drill-ready targets (La Peña, La Ollita, Tamberías, Cerro Verde South) and emerging lithocap targets (Punta Negra, Vicuñita) through diamond core drilling, geophysical surveys and geochemical programs, raising equity capital to fund exploration rather than selling any product today.
Product overview
Sendero Resources is a junior mineral exploration company (not a software company) whose offering is centered on a single flagship asset, the Peñas Negras Project in the Vicuña District of Argentina, supported by a suite of public disclosures rather than a multi-product software platform. The Peñas Negras Project comprises 211.7 km2 of copper-gold concessions (120 km2 owned 100% via subsidiary Barton SAS, plus 91.7 km2 under the EMSE option/JV) and is being advanced through a series of named drill targets and discoveries — La Peña, La Ollita, Tamberías and Cerro Verde South — together with emerging lithocap targets at Punta Negra and Vicuñita on the EMSE JV ground. The corporate and technical information about these products is delivered to investors through the Sendero Resources Corporate Presentation, the Sendero Resources Technical Presentation, and periodic press releases disclosing drill results, financings, permits and corporate changes; technical disclosure is overseen by Qualified Persons under NI 43-101.
Differentiator
Problem solved
Functional benefit
Products and services
- Peñas Negras Project Flagship copper-gold porphyry and high-sulfidation epithermal exploration project in the Vicuña District of La Rioja, Argentina, encompassing 211.7 km² of mining concessions (120 km² 100%-owned by Sendero plus 91.7 km² under option/JV with EMSE). The project hosts a cluster of porphyry and epithermal targets including La Peña, La Ollita, Tamberías, Cerro Verde South, Cerro Verde North, Ritzuko, Punta Negra and Vicuñita, and is surrounded by world-class Cu-Au discoveries held by Filo Mining, Lundin Mining, NGEx Minerals and BHP.
- La Peña Exploration Target Highest priority porphyry copper-gold drill target on the Peñas Negras Project, characterized by Miocene diorite porphyry, a potassic alteration core, classic porphyry quartz-magnetite vein stockworks, strong Cu-Au-Mo soil/rock geochemistry and a coincident magnetic high.
- La Ollita Discovery Composite telescoped porphyry-epithermal Cu-Au-Ag discovery on the Peñas Negras Project. Initial drilling (PNDH003-PNDH006) intersected a large, high-level mineralized advanced argillic epithermal lithocap overlying a porphyry gold-copper system, with drill highlights including 256 m of 0.53 g/t AuEq, 364 m of 0.51 g/t AuEq, 114 m of 0.84 g/t AuEq and 22 m of 1.61 g/t AuEq; comparable in style to Filo del Sol and Josemaria.
- Tamberías Exploration Target Drill-ready porphyry copper-gold target on the Peñas Negras Project featuring an outcropping diorite porphyry with classic porphyry-style quartz-magnetite veining, zoned potassic to chlorite-epidote alteration, anomalous Cu-Au-Mo geochemistry and a coincident magnetic high with IP chargeability.
- Cerro Verde South Exploration Target Cluster of porphyry and epithermal targets within and around a prominent circular structure filled with Miocene andesitic volcanics intruded by dacite, andesite and micro diorite porphyry on the Peñas Negras Project. Includes the CSV1 stand-out drill target with magnetite-quartz stockwork and coincident Cu-Au-Mo geochemical and magnetic anomalies.
- EMSE Joint Venture Concessions (Punta Negra / Vicuñita) 91.7 km² of mining concessions adjacent to the east of the Peñas Negras Project, optioned from Energía y Minerales - Sociedad del Estado (EMSE) of La Rioja, Argentina, under an arm's length option agreement to form an 80/20 joint venture in favor of Sendero, subject to aggregate cash payments of US$5,000,000 and US$10,000,000 in work expenditures within four years. The concessions include emerging lithocap targets Punta Negra and Vicuñita.
Quantifiable outcome
- Drill hole PNDH006 intersected 364 m of 0.51 g/t AuEq from 34 m, including 114 m of 0.84 g/t AuEq and 22 m of 1.61 g/t AuEq at La Ollita
- +5 more outcomes
Companies that use Sendero Resources
Customer profileNamed customers1 record
Ideal customer profiles2 records
Sendero Resources technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Sendero Resources partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered flagship / core partnership that expanded sendero's land position by 76% to 211.7 km2 in the vicuña district. and core operational service provider for assaying all exploration drill samples..
- Energía y Minerales - Sociedad del Estado (EMSE)flagship / core partnership that expanded sendero's land position by 76% to 211.7 km2 in the vicuña district.Arm's length Option Agreement (dated March 4, 2024) with the Energy and Minerals State Society of La Rioja, Argentina (EMSE) to form an 80/20 Joint Venture over 9,177 ha / 91.7 km2 of mining concessions directly adjacent to the existing 100%-owned Peñas Negras Project. Conditions include aggregate cash payments of US$5,000,000 (US$1,000,000 in 2024, US$1,260,000 in 2025 and US$1,370,000 in each of 2026 and 2027) and US$10,000,000 of work expenditures on the combined land package within four years. EMSE to be granted a 1% net smelter royalty on the Peñas Negras Project.
- Alex Stewart (Argentina)core operational service provider for assaying all exploration drill samples.ISO 17025-certified laboratory in Mendoza, Argentina contracted to prepare and analyze Sendero's drill core samples (fire assay Au4-30 for gold and 4-acid ICP-MA 39 multi-element analysis). Half-core samples transported by Sendero personnel to Alex Stewart; QA/QC includes blanks, CRMs and quarter-core duplicates at 10% frequency.
Scale indicators8 records
Recent moves8 records
Expansion highlights5 records
Sendero Resources competitors and assessment
Company assessmentDirect peers
- Filo Corp: Filo Corp is the most direct peer — its flagship Filo del Sol Cu-Au-Ag porphyry sits adjacent to Sendero's Peñas Negras in the Vicuña District. Same geological model (telescoped high-sulfidation epithermal/porphyry), same jurisdiction (Argentina/Chile border area), same target customer base (exploration-stage copper-gold investors).
- NGEx Minerals: NGEx controls Los Helados and Lunahuasi in the same Vicuña District, pursuing copper-gold porphyry exploration with geological models directly comparable to Sendero's La Ollita. Same commodity mix, same district, same target investor base.
- Aldebaran Resources: Aldebaran is advancing the Altar Cu-Au-Mo porphyry project in San Juan, Argentina, within the broader Vicuña/Andean copper-gold belt. Comparable as a Latin American copper-gold junior explorer at a similar market-cap stage.
- McEwen Mining: McEwen's Los Azules is a large copper-gold porphyry in San Juan, Argentina, sharing the same Andean copper belt and Cu-Au porphyry model as Peñas Negras. Closely comparable as a publicly listed Argentina-focused copper-gold developer/explorer.
- SolGold: SolGold's Cascabel porphyry Cu-Au system in Ecuador is a globally significant Cu-Au explorer with the same telescoped porphyry/epithermal targeting philosophy that defines Sendero's La Ollita model. Same commodity mix, same junior exploration risk/reward profile.
- Solaris Resources: Solaris's Warintza project in Ecuador is a copper-gold porphyry explorer at a similar stage of delineation, with comparable drilling-driven catalysts and comparable target investor base among Vicuña-belt-adjacent juniors.
- Regulus Resources: Regulus is exploring the Rio Grande Cu-Au-Mo porphyry in Salta, Argentina, plus the AntaKori Cu-Au project in Peru. Same Latin American copper-gold junior profile and same porphyry targeting thesis.
- Marimaca Copper: Marimaca Copper is an emerging Chilean copper developer/explorer with comparable mid-cap scale, copper commodity exposure, and South American Andean jurisdiction. Comparable as a publicly listed Cu-focused junior.
Broad incumbents
- Lundin Mining: Lundin Mining operates the neighboring Caserones mine and is advancing the Josemaria project adjacent to Peñas Negras. Larger, established copper producer with overlapping geology but a much broader portfolio and deeper capital base.
- BHP Group: BHP holds the adjacent Filo del Sol/Josemaria-area exploration ground through its post-Lundin deal footprint and operates globally diversified copper mines. A Tier-1 incumbent in the same Vicuña District belt with substantially greater financial and operational scale.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Sendero Resources social profiles
Digital presenceSendero Resources compliance and trust
Trust signalCompliance3 records
Sendero Resources financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sendero Resources leadership team
Management profileNumber of profiles
Profiles4 records
Sendero Resources subsidiaries and ownership
Company hierarchySubsidiaries1 record
Sendero Resources funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sendero Resources M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sendero Resources
What does Sendero Resources do?
Sendero Resources is a junior mineral exploration company that acquires, explores and develops copper-gold porphyry and high-sulfidation epithermal prospects, with its flagship Peñas Negras Project covering 211.7 km² of mining concessions in the Vicuña District of La Rioja, Argentina. The Company advances multiple drill-ready targets (La Peña, La Ollita, Tamberías, Cerro Verde South) and emerging lithocap targets (Punta Negra, Vicuñita) through diamond core drilling, geophysical surveys and geochemical programs, raising equity capital to fund exploration rather than selling any product today.
Is Sendero Resources a public or private company?
Sendero Resources is a public company. It is classified as public and is currently operating.
When was Sendero Resources founded?
Sendero Resources was founded in 2020. It employs 1 to 10 people.
Where is Sendero Resources based?
Sendero Resources is headquartered in Vancouver, Canada, in the North America region.
How does Sendero Resources make money?
Two revenue lines are on record. Pre-revenue mineral exploration is the primary driver. The others are equity financings (brokered & non-brokered private placements).
Who are Sendero Resources's main competitors?
Direct peers on record are Filo Corp, NGEx Minerals, Aldebaran Resources, McEwen Mining, SolGold, Solaris Resources, Regulus Resources and Marimaca Copper. Broad incumbents are Lundin Mining and BHP Group.
Does Sendero Resources have an API?
No public API is recorded for Sendero Resources.