With high trading volumes, the stock of Australian copper explorer American West Metals Limited (ASX: AW1; FRA: WKN A3DE4Y) marked a new all-time high of 0.355 AUD in Australian trading today. Intraday, the stock even traded at 0.37 AUD. A total of 52 million shares were traded, equivalent to 17.68 million AUD.

With high trading volumes, the stock of Australian copper explorer American West Metals Limited (ASX: AW1; FRA: WKN A3DE4Y) marked a new all-time high of 0.355 AUD in Australian trading today. Intraday, the stock even traded at 0.37 AUD. A total of 52 million shares were traded, equivalent to 17.68 million AUD.

Since the publication of the spectacular copper discovery last Wednesday a week ago, the stock has risen by another 50 percent. The stock had already gained significantly before. The high trading volumes suggest that large investors are positioning themselves. On last Wednesday alone (August 2), 84 million shares were traded, on Monday 64 million, and yesterday another 24 million shares.

The success of American West has now also spilled over to its JV project partner Aston Bay (TSXV: BAY; FRA: WKN A2AUFP) in Canada. Aston Bay’s stock quintupled and closed yesterday at 0.20 CAD (35 million market cap). Aston Bay and American West signed an option agreement in March 2021, under which American West can acquire 80 percent of the Storm Copper Project on Somerset Island, Nunavut. The condition is that American West invests 10 million CAD in exploration within 9 years. Once this condition is met (which should be the case shortly), American West and Aston Bay will form an 80/20 joint venture. Only then would the shares of both partners be diluted if they don’t continue to invest. If Aston Bay cannot provide its contribution, Aston Bay’s stake will be converted into a 2% net smelter return if it is diluted below 10%. So Aston Bay has secured the royalty for the project in any case. This royalty could be worth a lot of money in the future.

We will keep an eye on both companies from now on.