About Blade Resources Inc.

Industry

Metals and Mining

Sector

Copper-Gold

CEO

Michael Blady

Headquarters

905 Pender Street West Suite 503 , Vancouver, BC, CA

Industry

Metals and Mining

Sector

Copper-Gold

CEO

Michael Blady

Headquarters

905 Pender Street West Suite 503 , Vancouver, BC, CA

Description

Blade Resources Inc., an exploration-stage company, focuses on the exploration and evaluation of mineral properties. It holds interest in the Hot Breccia project, a copper exploration project that consists of 227 unpatented mining claims covering an area of 1,420-hectares located in Arizona.

The company was incorporated in 2024 and is based in Vancouver, Canada.

Blade Resources Inc.

FRC Coverage

🇨🇦AZCU.CN•CNQ

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🇨🇦AZCU.CN•CNQ

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Company Overview

Overview

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*Blade Resources Inc. has paid FRC a fee for research coverage and distribution of reports.

About Blade Resources Inc.

Industry: Metals and Mining
Sector: Copper-Gold
CEO: Michael Blady
Headquarters: 905 Pender Street West Suite 503 , Vancouver, BC, CA

Industry: Metals and Mining
Sector: Copper-Gold
CEO: Michael Blady
Headquarters: 905 Pender Street West Suite 503 , Vancouver, BC, CA

Description

The company was incorporated in 2024 and is based in Vancouver, Canada.

FRC Research

Analyst Notes

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*Blade Resources Inc. has paid FRC a fee for research coverage and distribution of reports.

Oct 13, 2026· YesterdayLatest

Company announcement

A Newly Listed Junior With a Large, Untested Copper Target

FRC Analyst's Comment

We have commenced due diligence on Blade Resources, a newly listed copper exploration junior, and expect to initiate coverage in the coming weeks.

Copper prices are up 35% YoY, and trading near record highs. Despite this rally, we remain positive on the metal, supported by projected supply deficits, and growing demand from AI infrastructure, and electricity grid expansion.

The company’s flagship Hot Breccia project is located within Arizona’s prolific Laramide Porphyry Belt, a renowned copper-producing district with established mining infrastructure. Arizona is the leading U.S. copper producer, accounting for ~70% of domestic output.

Source: Company / FRC

We believe Hot Breccia offers an attractive early-stage copper discovery opportunity, supported by its proximity to major deposits, and encouraging historical exploration results. The project is located just 3 km from Freeport-McMoRan’s past-producing Christmas mine, and 40 km from Rio Tinto/BHP’s Resolution deposit. Notably, Hot Breccia hosts a geophysical anomaly comparable in scale to Resolution’s, but with prospective host rocks starting at a much shallower depth (~400 m vs. ~1,200 m), potentially allowing for more cost-effective exploration of this large, untested target.

Three key indicators support further exploration:

High-grade surface samples: Up to 5.7% copper with gold; similar deposits average 0.3–1.0% copper.
Historical drilling: 18.29 m grading 1.4% copper, and 4.65% zinc.
Large deep target: A geophysical survey identified a large underground anomaly that could indicate copper mineralization.

Together, these results provide encouraging exploration targets, although the size and grade of any potential deposit remain unproven.

Source: Company / FRC

Blade is pursuing a $6M equity financing, a substantial raise for a newly listed junior that may reflect investor interest in the story. The company has also commenced a property-wide geophysical survey to refine targets ahead of its maiden drilling campaign.

Overall, we believe Blade offers investors early-stage exposure to a compelling copper discovery opportunity, supported by a favorable geological setting, proximity to major copper deposits, and encouraging preliminary exploration results. This is one of the earliest and riskiest stages of the mining cycle, but also offers the greatest upside potential if exploration leads to a significant discovery.

Our upcoming initiation report will assess Hot Breccia, management’s exploration strategy and our comprehensive valuation, including a fair value estimate.

Financial Data

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Fair Value

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Financial Ratios

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Valuation, profitability, liquidity and leverage ratios for Blade Resources Inc.. P/E, P/B, EV/EBITDA, margins, return on equity, current ratio and debt coverage, each shown against the company's own history.

Dividend Analysis

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Dividend history, yield and payout sustainability for Blade Resources Inc.. Blade Resources Inc. does not currently pay a regular dividend, so this section tracks capacity rather than history. Per-share payments, yield over time, payout ratio and growth streak, with coverage measured against free cash flow.

Earnings Analysis

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Reported vs. expected earnings history for Blade Resources Inc.. EPS surprises by quarter, revenue against estimates, and the upcoming reporting date.

Financial Statements

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Peer Comparison

Comparables

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Blade Resources Inc. valued side by side against its closest peers. Blade Resources Inc. is measured against Metals and Mining peers within the Copper-Gold sector. Peer-relative multiples and operating metrics, so the valuation is read in the context of its own sector rather than in isolation.

Ownership & News

Institutional Ownership

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Insider Trading

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Buying and selling by Blade Resources Inc. executives and directors. Insider transactions as disclosed to regulators, with role, size and date — the clearest read on how the people running the company are positioned. Included with FRC Premium.

Senate Trading

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U.S. Senator disclosures filed under the STOCK Act.

U.S. Senate disclosures naming Blade Resources Inc.. Senators' reported transactions in this security, alongside the fundamentals — a signal most research platforms leave out entirely. Included with FRC Premium.

House Trading

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U.S. Representative disclosures filed under the STOCK Act.

U.S. House of Representatives disclosures naming Blade Resources Inc.. Representatives' reported transactions in this security, shown next to the company's fundamentals. Included with FRC Premium.

News

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Latest headlines and company announcements for Blade Resources Inc.. Coverage tracks Blade Resources Inc. within Metals and Mining (Copper-Gold). Press releases and market coverage, newest first.

Discussion

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Oct 13, 2026· YesterdayLatest

Company announcement

A Newly Listed Junior With a Large, Untested Copper Target

FRC Analyst's Comment

We have commenced due diligence on Blade Resources, a newly listed copper exploration junior, and expect to initiate coverage in the coming weeks.

Source: Company / FRC

Three key indicators support further exploration:

High-grade surface samples: Up to 5.7% copper with gold; similar deposits average 0.3–1.0% copper.
Historical drilling: 18.29 m grading 1.4% copper, and 4.65% zinc.
Large deep target: A geophysical survey identified a large underground anomaly that could indicate copper mineralization.

Together, these results provide encouraging exploration targets, although the size and grade of any potential deposit remain unproven.

Source: Company / FRC

Our upcoming initiation report will assess Hot Breccia, management’s exploration strategy and our comprehensive valuation, including a fair value estimate.