Lion CG

What Lion CG does

Lion Copper and Gold Corp. (CNSX:LEO) is a publicly traded junior mining company headquartered in Vancouver, Canada, focused on the acquisition, exploration, and development of copper assets in the United States. The company's sole material asset is the Yerington Copper Project in Nevada, a copper cathode development initiative targeting production of 99.99% pure copper cathode for sale into the U.S. domestic market. The project is being advanced under an earn-in agreement with Nuton LLC, a wholly-owned subsidiary of Rio Tinto, which provides staged funding (up to US$31 million for Stage 3, of which US$30.5 million has been received as of January 2026) plus proprietary leaching technologies and technical support. The company's primary value proposition is addressing the anticipated U.S. domestic copper supply gap driven by electrification, electric vehicle manufacturing, data center infrastructure, and grid modernization demand.

The company's go-to-market model is direct B2B sales of copper cathode to U.S. industrial manufacturers and infrastructure developers once production commences, with revenue mechanics tied to prevailing market copper prices. Currently pre-revenue, Lion is in the Definitive Feasibility Study and permitting phase, supported by engineering consultant Samuel Engineering (DFS lead) and environmental consultant Nexus Environmental Consultants (permitting lead). Recent capital deployment includes drilling programs for resource expansion, geotechnical assessment, and groundwater understanding. The company reports a market capitalization of approximately US$397 million (June 2026) and a balance sheet characterized as having more cash than debt.

The company's competitive positioning rests on the Nuton partnership, which enables project advancement with limited shareholder dilution, alongside the regulatory and infrastructure advantages of an established Nevada mining jurisdiction. Leadership includes Chairman/CEO Thomas Patton, President/COO Gerald Prosalendis, and CFO Maria Milagros 'Millie' Paredes (appointed June 2026, previously CFO of Mako Mining Corp. and senior finance roles at Rio Tinto's U.S. Borax operations, Intel, and Hewlett-Packard). The company has 1-10 employees and operates with a lean corporate structure typical of junior resource developers.

Name

Lion CG

Legal name

Lion Copper and Gold Corp.

Website

https://lioncg.com

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

1–10 employees

Short description

Lion Copper and Gold Corp. is a Vancouver-based junior mining company developing the Yerington Copper Project in Nevada to produce 99.99% pure copper cathode for the U.S. domestic market, under an earn-in partnership with Nuton LLC (Rio Tinto subsidiary).

Ownership category

akta.pro rank

Product category

Copper Mining

NAICS

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

SIC

Metal Mining (1000)

akta.pro primary industry

Copper Exploration & Resource Development (IMAKADAA)

akta.pro secondary industries

Copper Ore Mining (Open-Pit & Underground) (IMAKADAB), Copper Anode/Cathode Production & Handling (IMAKADAG)

Keywords

• Copper cathode production
• Copper mining development
• Mineral exploration
• Mining feasibility studies
• Critical minerals supply

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Operations, Supply Chain, Personnel, Others

Revenue model

1. Copper Cathode Sales: Pre-revenue mining company developing the Yerington Copper Project in Nevada to produce and sell high-purity copper cathode (99.99%) into the U.S. domestic market. Revenue will be generated from copper cathode sales to industrial manufacturers in sectors including electrification, electric vehicles, and data center infrastructure.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Lion CG is developing the Yerington Copper Project in Nevada to produce and sell 99.99% pure copper cathode into the U.S. domestic market. The project is being advanced through a Definitive Feasibility Study and permitting phase, supported by an earn-in partnership with Nuton LLC (a Rio Tinto subsidiary) that provides funding and proprietary leaching technologies. Once in production, copper cathode will be sold to industrial manufacturers serving electrification, electric vehicles, data center infrastructure, and grid modernization.

Product overview

Lion Copper and Gold Corp. is a mining company with a single core project — the Yerington Copper Project in Nevada. The company is advancing this copper cathode production initiative through an earn-in partnership with Nuton LLC, a subsidiary of Rio Tinto. The project is currently in the Definitive Feasibility Study and permitting phase, with multiple drilling programs underway. No separate product modules, software offerings, or technology products are offered — this is a resource development company focused on bringing the Yerington copper deposit into production.

Differentiator

Problem solved

Functional benefit

Products and services

• Yerington Copper Project A copper mining project in Nevada focused on producing 99.99% pure copper cathode for the U.S. domestic market. Currently in the Definitive Feasibility Study and permitting phase with multiple drilling programs underway for resource expansion, geotechnical assessment, and groundwater understanding. Once production commences, copper cathode will be sold to U.S. industrial manufacturers serving electrification, electric vehicles, data centers, and grid modernization.

Segments1 record

Ideal customer profiles1 record

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 minor.

• Samuel EngineeringminorImplementation/ SI/ Consulting Partner · 10 March 2026Appointed as lead consultant for the Definitive Feasibility Study (DFS) of the Yerington Copper Project, supporting technical engineering work.
• Nexus Environmental ConsultantsminorImplementation/ SI/ Consulting Partner · 10 March 2026Appointed as lead consultant for the permitting process of the Yerington Copper Project, supporting environmental studies and regulatory engagement.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Taseko Mines: Taseko Mines is developing the Florence Copper Project in Arizona using in-situ copper recovery technology to produce copper cathode. The Florence project is a near-direct comparable to Lion's Yerington project in scope, jurisdiction (U.S. Southwest), and cathode-focused production approach.
• Quaterra Resources: Quaterra Resources is a copper-focused exploration and development company with assets in Nevada and Arizona, including the Hercules copper project. Comparable as a junior copper developer with U.S. Southwest exposure and similar pre-production profile.
• Western Copper and Gold: Western Copper and Gold is advancing the Casino copper-gold project in Yukon, Canada, through feasibility and permitting. Comparable as a publicly-traded copper developer at a similar project advancement and DFS stage, pursuing a tier-one copper asset.
• Excelsior Mining: Excelsior Mining develops copper projects using in-situ recovery (ISR) technology at the Gunnison Copper Project in Arizona, producing copper cathode. Highly comparable to Lion's Yerington project in terms of copper cathode production focus and leaching-based extraction technology.
• Nevada Copper: Nevada Copper is developing the Pumpkin Hollow copper project in Nevada, an underground copper mine with on-site processing. Comparable as a Nevada-based copper developer in the permitting and construction phase, targeting similar U.S. domestic end markets.

Broad incumbents

• Capstone Copper: Capstone Copper is a mid-tier copper producer with operating mines in the Americas (Pinto Valley, Mantos Blancos, Mantoverde, Cozamin). Comparable as a copper-focused operator in the same broad peer set, providing reference valuation and operational benchmarks for Lion's transition from developer to producer.
• Lundin Mining: Lundin Mining is a diversified base metals producer with copper-dominant production (Caserones, Candelaria, Neves-Corvo). Comparable as a copper-focused mid-cap miner serving similar industrial end markets and exposed to the same commodity price dynamics.
• Hudbay Minerals: Hudbay Minerals is a diversified mid-tier miner with significant copper exposure (Copper Mountain, Constancia, Snow Lake). Comparable as a copper-focused operator with U.S. and Americas assets, providing context for peer multiples and copper cathode market dynamics.

Emerging players

• Mako Mining: Mako Mining is a junior gold producer with operations in Nicaragua. Comparable due to CFO Millie Paredes' prior role as Mako's CFO during its transition into commercial production — providing direct management continuity and operating transition benchmarks for Lion.

Others

• Rio Tinto: Rio Tinto is a global mining major and the parent of Nuton LLC, Lion's core strategic partner. Comparable as the upstream strategic stakeholder providing funding and proprietary leaching technology, and as a potential long-term acquirer of the Yerington asset.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/quaterra

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds6 records

Investors1 record

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 Lion CG