Abacus Mining and Exploration

What Abacus Mining and Exploration does

Abacus Mining and Exploration Corporation is a Vancouver-based, TSX-V-listed (ticker AME) junior mineral exploration and mine development company focused on copper and gold assets in North America. Its portfolio consists of two porphyry copper-gold projects: a 20% carried interest in the advanced-stage Ajax copper-gold joint venture near Kamloops, British Columbia, where 80% partner KGHM Polska Miedź S.A. acts as operator, and 100% ownership of the Willow copper-molybdenum property in Yerington, Nevada, which the company characterizes as the first new porphyry discovery in the Yerington copper camp in over 40 years.

The company's core technical capability is domain specialization in porphyry copper-gold systems, deployed through conventional exploration methods including drilling, geochemical sampling, and geophysical surveys. The Ajax asset is underpinned by a 2016 Feasibility Study defining proven and probable reserves of 2.7 billion lbs Cu, 2.6 million oz Au, and 5.3 million oz Ag at a 0.29% Cu grade, supporting an 18-year mine life at a 65,000 tpd processing rate, $1.307 billion initial capex, and a pre-tax NPV(8%) of $429.4M at LOM metal prices of Cu US$3.21/lb, Au US$1,200/oz, Ag US$17/oz. Willow is earlier-stage, defined by a 2 km by 2 km Cu-Mo porphyry target that remains partially untested by drilling and sits adjacent to Hudbay Minerals' large Ann Mason deposit.

Abacus is pre-revenue and operates a capital-raise-driven business model. It funds exploration, property payments, and working capital through repeated non-brokered private placements of unit offerings (shares plus warrants), with disclosed raises ranging from CAD $173,600 (December 2021) to CAD $750,000 (March 2022), and additional placements through 2024, 2025, and January 2026. Long-term economics are intended to flow from the carried interest in Ajax production and/or the sale or joint venture of Willow. The company runs a lean operation of 1–10 employees led by Paul G. Anderson, Michael McInnis, and CFO Jeannine Webb, with a recently strengthened board following the February 2026 appointment of Dr. Adrian King (former Head of Global Exploration at Teck Resources).

Name

Abacus Mining and Exploration

Legal name

Abacus Mining and Exploration Corporation

Website

https://amemining.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Abacus Mining and Exploration (TSX-V: AME) is a Vancouver-based junior mineral explorer and developer focused on North American porphyry copper-gold assets, holding a 20% carried interest in the Ajax JV (BC) with KGHM and 100% of the Willow copper-molybdenum property in Nevada's Yerington copper camp.

Ownership category

akta.pro rank

Product category

Mineral Exploration and Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Metal Mining (1000), Gold And Silver Ores (1040)

akta.pro primary industry

Copper Exploration & Resource Development (IMAKADAA)

akta.pro secondary industry

Copper By-Products Recovery (Molybdenum, Gold/Silver, Sulfuric Acid) (IMAKADAH)

Keywords

• Mineral exploration services
• Copper gold mining
• Porphyry deposit development
• Mining project development
• Mineral resource exploration

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Capital Raising for Exploration: Pre-revenue exploration stage company that raises funds through private placements. The company does not currently generate operating revenue; it raises equity capital to fund exploration drilling, property payments, and working capital. Revenue generation is anticipated through successful project development leading to production or sale of assets/interests.
2. Joint Venture Interest (Ajax): The company holds a 20% interest in the Ajax copper-gold Joint Venture with KGHM Polska Miedź S.A. (KGHM holds 80% and manages the project). Abacus is carried through production, meaning they benefit from future production revenue without current cash outflow obligations.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Abacus Mining and Exploration is a mineral exploration and mine development company focused on copper and gold porphyry deposits in North America. The company holds a 20% carried interest in the advanced-stage Ajax copper-gold project near Kamloops, British Columbia (managed by partner KGHM Polska Miedź S.A.), and 100% ownership of the Willow copper-molybdenum exploration property in Yerington, Nevada — the first new porphyry discovery in the Yerington copper camp in over 40 years.

Product overview

Abacus Mining and Exploration is a mineral exploration and mine development company focused on Copper and Gold in North America. The company operates two cornerstone porphyry projects: the Ajax Copper-Gold Project (20% interest, managed by KGHM) near Kamloops, BC, representing an advanced-stage asset with substantial proven reserves and an 18-year mine life; and the Willow Copper-Molybdenum Property (100% owned) in Yerington, Nevada, an exploration-stage project positioned adjacent to Hudbay Minerals' Ann Mason Deposit. The portfolio is structured as a balanced mix of production-stage and exploration-stage assets within proven North American copper-gold porphyry camps.

Differentiator

Problem solved

Functional benefit

Products and services

• Ajax Copper-Gold Project Advanced-stage porphyry copper-gold project located near Kamloops, British Columbia. Abacus holds a 20% carried interest through production, with KGHM Polska Miedź S.A. holding 80% and managing development. Per the 2016 Feasibility Study, the project contains 2.7 billion lbs Cu, 2.6 million oz Au, and 5.3 million oz Ag in proven and probable reserves, with average projected annual production of 58,000t Cu and 125,000 oz Au.
• Willow Copper-Molybdenum Property Wholly owned porphyry copper-molybdenum project located in the Yerington copper camp, Nevada. Represents the first new porphyry discovery in the Yerington copper camp in over 40 years, featuring a large 2 km by 2 km Cu-Mo porphyry target defined by geochemistry and geophysics that remains partially untested by drilling. Adjacent to Hudbay Minerals' large Ann Mason Deposit.

Quantifiable outcome

• 58,000t Cu and 125,000 oz Au avg annual production
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered flagship and minor.

• KGHM Polska Miedź S.A.flagshipStrategic or Co-development Partner · 17 February 2026KGHM Polska Miedź S.A. holds 80% interest and manages the Ajax copper-gold Joint Venture located near Kamloops, British Columbia. Abacus Mining holds the remaining 20% interest and is carried through production. This is the company's cornerstone asset and primary strategic partnership. The 2016 Feasibility Study projected 18-year mine life with initial capex of $1.307 billion and pre-tax NPV (8%) of $429.4M.
• Hudbay MineralsminorOthers · 1 January 2024While not a formal partnership, Abacus's Willow copper-molybdenum property in Yerington, Nevada is adjacent to Hudbay Minerals' large Ann Mason Deposit. This proximity indicates potential for regional synergies and similar geological prospectivity, though no formal JV or partnership agreement is indicated.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• Solaris Resources: Explorer-developer focused on large-scale porphyry copper-gold systems — comparable as an emerging-stage public copper-gold porphyry play with similar market-cap profile and exploration-driven thesis.
• Arizona Metals: Toronto-listed copper-gold explorer advancing a porphyry/skarn target — comparable as a junior copper-gold explorer with similar capital-raise cadence and exploration-stage technology (drilling, geochemistry, geophysics).
• NevGold Corp: Junior copper-focused explorer with Nevada assets — comparable as a small-cap copper explorer operating in Nevada mining jurisdictions with similar capital-raising and project-development cadence.

Direct peers

• Copper Mountain Mining: BC-based copper-gold miner operating the Copper Mountain mine — directly comparable as a similar-scale British Columbia copper-gold porphyry developer with overlapping jurisdictional and geological profile to Abacus.
• NGEx Minerals: Canadian-listed copper-gold porphyry explorer with assets in South America — closely comparable as a junior developer targeting large porphyry Cu-Au systems, with similar scale, structure, and exploration-stage profile.
• Hudbay Minerals: Hudbay owns the large Ann Mason copper-molybdenum deposit immediately adjacent to Abacus's Willow property in the Yerington, Nevada copper camp — the closest geological and jurisdictional comparable for Abacus's flagship exploration asset.
• Taseko Mines: British Columbia-focused copper-gold producer (Gibraltar mine, Yellowhead project) — directly comparable as a TSX-listed intermediate copper-gold developer with both producing and development assets in the same province as Abacus's Ajax project.
• Quaterra Resources: Holds copper properties in the Yerington, Nevada copper camp — directly comparable as a copper-focused explorer operating in the same geological setting as Abacus's Willow project.

Regional players

• Imperial Metals: Vancouver-based copper-gold miner with producing and development assets in British Columbia (Mount Polley, Huckleberry) — comparable as a BC-domiciled mid-tier porphyry Cu-Au operator in the same jurisdiction as Abacus.

Broad incumbents

• KGHM Polska Miedź S.A. Polish state-linked global copper and silver producer that holds 80% of and operates Abacus's Ajax JV — listed as a peer because KGHM is the dominant counterparty that defines Abacus's cash-flow timing and project execution risk.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/abacusmining

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Abacus Mining and Exploration