← Back to TranscriptAgent TranscriptAgent
← All mining companies

Aldebaran Resources

Copper explorer, with a project stated to be in San Juan province, southwestern Argentina.

NoneArgentina — as stated on the recordings

explorer copper NoneArgentina
Jan 2025 → May 2026Covered
9 of 10Topics on record
2Figures tracked over time
1 executiveNamed on the record
Generate Claims & Checks What management and commentators said, and what still needs independent verification 2 interviews with the company · 3 independent recordings
Stage
Explorer
Primary commodity
Copper
Jurisdiction
San Juan province, southwestern Argentina
Deposit
large copper-gold porphyries
Latest appearance
28 May 2026
On record
2 interviews · 28 statements · 1 executive

At a glance

What the record holds today. Every card names where it came from — a management representation is not an established fact, and the page never blurs the two.

What is in the ground
a little over 500 million tons
Management-stated John Black May 2026
Grade
approximately a 0.7 copper equivalent
Management-stated John Black May 2026
Money on hand
about 5 million in cash
Stated capital need: about 1.6 billion dollars of initial capital, about 6 billion dollars of total capital
Management-stated John Black May 2026
What happens next
moving to a pre-feasibility study
Management-stated John Black May 2026
The main open question
Cash position is tight at $2 million and $1.5 million securities (as of September), with $1.6–6 billion capex required to build the mine.
Weighed from the statements below, not our opinion of the company.
Our reading
How outsiders read it
3 independent voices on record — 3 constructive
Nick Hodge, Rick Rule, Jeff Phillips
Outside voices

How the stated figures have moved

The same figure, as management put it on the earliest and the latest recording we hold. A difference may be a genuine update, a different measure of the same thing (total against indicated), or a mis-heard number — both quotes are here, and both recordings are one click away.

Cash position $2 millionabout 5 million ● Higher 2 statements on record
10 Jan 2025
$2 million in cash and cash equivalents, $1.5 million in marketable securities as of September 30
“about $2 million of which at the time was recorded as cash and cash equivalence with about $1.5 Million worth of marketable Securities”
28 May 2026
about 5 million in cash
“Uh we currently have about 5 million in cash, which doesn't sound like much”
Ownership over 5%80% ● Higher 2 statements on record
10 Jan 2025
just a little over 5%
“insiders here own just a little over 5%”
28 May 2026
80%
“the Altar project, which we now own 80% of, uh currently has about two 2.4 billion tons”

Management view vs outside view

Management interviews are promotional by nature; the outside view is the counterweight. Both are quoted from the recordings, not added by us.

What management spends its time on

Counted from Aldebaran Resources's own claims across 2 interviews — most-covered theme first.

What outside voices pick up on

3 independent voices — people who do not speak for the company — across 3 mentions.

3 constructive
  • Nick Hodge “Cited as a successful private placement — financed at $0.30, later became a $3 stock, a 10x return for early subscribers.”
  • Rick Rule “Attracted to the people and deposit; likely a large tier-2 copper deposit; expects eventual acquisition.”
  • Jeff Phillips “Mentioned as one of the names that had performed well in his portfolio and financing history.”

Bull · Bear · Watch next

Weighed from the statements on this page — management's pitch and the outside view. Not financial advice, and not our opinion of the company.

▲ Bull case

Management says the Altar project in Argentina is one of the largest copper deposits held by a junior, with 2.4 billion tons at 0.7 copper equivalent, a $2 billion NPV, and early funding from Rio Tinto Venture Newton ($30M upon PEA, $190M…

What it rests on
Evidence: 3 moments from 2 interviews
Read the full case

Management says the Altar project in Argentina is one of the largest copper deposits held by a junior, with 2.4 billion tons at 0.7 copper equivalent, a $2 billion NPV, and early funding from Rio Tinto Venture Newton ($30M upon PEA, $190M upon PFS). Rick Rule and others cite the deposit quality and team track record, with Aldebaran's previous company Onar sold into Regulus. Major miners like Rio Tinto, BHP, and First Quantum are the stated target acquirers.

▼ Bear case

Cash position is tight at $2 million and $1.5 million securities (as of September), with $1.6–6 billion capex required to build the mine.

What it rests on
Evidence: 2 moments from 2 interviews
Read the full case

Cash position is tight at $2 million and $1.5 million securities (as of September), with $1.6–6 billion capex required to build the mine. Insiders own just 5%, and dilution remains a risk with 170 million shares outstanding plus 11.8 million options and warrants. The PEA was done at $435 copper—material downside if commodity prices fall—and there is no independent validation of the deposit or the NPV estimate yet.

◆ Watch next

PEA delivery expected Q2 2025, triggering $30 million payment from Rio Tinto Newton and mining analyst visit in February.

What it rests on
Evidence: 2 moments from 1 interview
Read the full case

PEA delivery expected Q2 2025, triggering $30 million payment from Rio Tinto Newton and mining analyst visit in February. PFS due second half 2026, unlocking $190 million milestone. These are the concrete gates: PEA quality, analyst reception, and PFS timeline will determine whether the deposit holds value and attracts a major.

Each moment links to the exact point in the source recording. The cases are drawn from the transcripts, weighed as written — they are not a rating, a target or a recommendation.

Project 10 statements

The deposit 6

Key takeaway. In a May 2026 interview, Aldebaran Resources management described the deposit as a "large copper-gold porphyry" with a resource size of "a little over 500 million tons" grading about 0.4% copper.

Read the full summary

Separately in the same interview, management also cited a resource size of "over 3 billion tons" and a grade of approximately 0.7% copper equivalent. Earlier, in January 2025, the company referred to the project as the "Alar copper deposit."

What was actually said
deposit type
large copper-gold porphyries
“we're a group that specializes in finding large copper deposits, drilling those out, adding value to those, and ideally selling them to a major mining company”
John Black· 28 May 2026·
grade
approximately a 0.7 copper equivalent
“at approximately a 0.7 copper equivalent with both copper and gold almost equal amounts of of value between the copper and gold right now.”
John Black· 28 May 2026·
grade
about 0.4% copper
“So, over 3 billion tons at about 0.4% copper.”
John Black· 28 May 2026·
Show the other 3 statements
resource size
a little over 500 million tons
“We have a little over 500 million tons of indicated and inferred mineralization, about 50/50 on on the mix there”
John Black· 28 May 2026·
resource size
over 3 billion tons
“Altar project, which we now own 80% of, uh currently has about two 2.4 billion tons of inferred and indicated mineralization with an measured and indicated mineralization with an additional 1.2 billion of inferred. So, over 3 billion tons”
John Black· 28 May 2026·
deposit type
Alar copper deposit
“they are earning in 80% of the alar copper deposit which is one of the largest copper deposits held by a junior today”
John Black· 10 Jan 2025·

Jurisdiction 4

Key takeaway. Management has stated that the company's project is located in Argentina, specifically the San Juan province in the southwestern part of the country (Jan 2025).

Read the full summary

In a separate statement (May 2026), the company again referenced Argentina as the jurisdiction, but also mentioned Peru, without clarifying whether both countries apply to the same project or different assets.

What was actually said
country
Argentina
“the Altar copper-gold project in San Juan province in in Argentina.”
John Black· 28 May 2026·
country
Peru
“the AntaKori project, which is a large copper-gold deposit in northern Peru.”
John Black· 28 May 2026·
country
Argentina
“I'm traveling to the San Juan province of Argentina where I'll be looking for copper”
John Black· 10 Jan 2025·
Show the other 1 statement
region
San Juan province, southwestern Argentina
“It's located in southwestern Argentina right on the border with Chile”
John Black· 10 Jan 2025·

Economics 7 statements

Economics 3

Key takeaway. In May 2026, management reported that the project economics are based on a $435 copper price assumption.

Read the full summary

They cited an initial capital expenditure of about $1.6 billion and total capital of about $6 billion. The company says this yields approximately a $2 billion net present value.

What was actually said
capex
about 1.6 billion dollars of initial capital, about 6 billion dollars of total capital
“There there we have a PEA that indicates that we could build a mine, um, for about 1.6 billion dollars of initial capital, about 6 billion dollars of total capital.”
John Black· 28 May 2026·
npv
approximately a 2 billion dollar net present value. Our current mark That's 2 billion US.
“So, it this would produce a a project that would have approximately a 2 billion dollar net present value. Our current mark That's 2 billion US.”
John Black· 28 May 2026·
price assumption
$435 copper
“What commodity price was that PEA done at? That That was done at at 435 copper.”
John Black· 28 May 2026·

Financing 4

Key takeaway. Management has described a multi-stage financing arrangement with Rio Tinto Venture Newton under an option agreement (January 2025).

Read the full summary

The company reports that payments of $10 million and $20 million have already been received, with a further $30 million due upon delivery of a PEA and $190 million upon delivery of a PFS. As of September 30, the company had $2 million in cash and cash equivalents plus $1.5 million in marketable securities (January 2025), and by May 2026 management said it held about $5 million in cash.

What was actually said
cash position
about 5 million in cash
“Uh we currently have about 5 million in cash, which doesn't sound like much”
John Black· 28 May 2026·
capital needed
$10 million and $20 million payments already received, $30 million upon PEA delivery, $190 million upon PFS delivery
“already resulted in two payments one that was $10 million and another one that was 20 million with a $30 million payment expected upon the delivery of a paa which is expected to be completed in Q2 of 20125 and then while on the topic might as well tell you there is a rather chunky $190 million payment expected upon the delivery of a pref feasibility study”
John Black· 10 Jan 2025·
cash position
$2 million in cash and cash equivalents, $1.5 million in marketable securities as of September 30
“about $2 million of which at the time was recorded as cash and cash equivalence with about $1.5 Million worth of marketable Securities”
John Black· 10 Jan 2025·
Show the other 1 statement
financing status
Option agreement with Rio Tinto Venture Newton
“albran signed a JV option agreement with a riotinto Venture by the name of Newton”
John Black· 10 Jan 2025·

Timeline 4 statements

Timeline 2

Key takeaway. Management has outlined a two-phase study timeline for the project.

Read the full summary

A preliminary economic assessment (PEA) is expected in the second quarter of 2025, followed by a pre-feasibility study (PFS) due in the second half of 2026; the company notes the milestone of moving to the PFS as May 2026.

What was actually said
milestone
moving to a pre-feasibility study
“We've completed a PEA. We're moving to a pre-feasibility study.”
John Black· 28 May 2026·
study due
PEA expected Q2 2025, PFS expected second half of 2026
“a $30 million payment expected upon the delivery of a paa which is expected to be completed in Q2 of 20125 and then while on the topic might as well tell you there is a rather chunky $190 million payment expected upon the delivery of a pref feasibility study which is expected in the second half of 2026”
John Black· 10 Jan 2025·

Catalysts 2

Key takeaway. Management highlighted two near-term catalysts for the project.

Read the full summary

A mining analyst visit is scheduled for the first week of February 2025, and the company says key information on the Newton project design will be released prior to the completion of the preliminary economic assessment (PEA).

What was actually said
upcoming decision
Key information on Newton project design to be released prior to PEA
“there will be key information coming out about um the design of pro we there there elements of this that we can release prior to coming out to the Pea”
John Black· 10 Jan 2025·
upcoming result
Mining analyst visit scheduled for first week of February
“we're we're conducting a mining analyst visit in later this the first week of of February actually on the project”
John Black· 10 Jan 2025·

Corporate 7 statements

Management 2

Key takeaway. Management points to the track record of the founding team, noting they previously founded Onar Minerals, which was sold and later spun into Regulus Resources.

Read the full summary

On ownership, the company reports that insiders have participated in major financings for both Regulus and Aldebaran, signaling alignment with shareholders.

What was actually said
insider ownership
Insiders have participated in major financings for both Regulus and Aldebaran
“every every major financing that we've completed for both regulus and Al debron our ourselves of insiders have participated purchasing shares on those financings”
John Black· 10 Jan 2025·
track record
Previously founded Onar Minerals which was sold and spun into Regulus Resources
“this is our third company so our original company was called onar minerals when we successfully sold that we spun that out into regulus resources”
John Black· 10 Jan 2025·

Share structure 4

Key takeaway. Management has given conflicting figures on insider ownership at different dates.

Read the full summary

In January 2025, the company reported about 170 million shares outstanding and said the insider stake was just a little over 5%, with 11.8 million options and warrants combined. However, by May 2026, management stated the insider stake was 80% — a figure that appears to contradict the earlier claim.

What was actually said
insider stake
80%
“the Altar project, which we now own 80% of, uh currently has about two 2.4 billion tons”
John Black· 28 May 2026·
insider stake
just a little over 5%
“insiders here own just a little over 5%”
John Black· 10 Jan 2025·
shares outstanding
about 170 million shares outstanding
“an average of about 85,000 shares trade daily 52e range here is pretty wide with a high of $2.35 and a 52- we low of 65 with a market cap of about 310 million Canadian dollars and about 170 million shares outstanding”
John Black· 10 Jan 2025·
Show the other 1 statement
warrants
11.8 million options and warrants combined
“There are 11.8 million options and warrant combined”
John Black· 10 Jan 2025·

Market 1

What was actually said
potential acquirer
Rio Tinto or a BHP or a First Quantum
“we we intentionally look for deposits that are the type of deposit that a major minor company or a Rio Tinto or a BHP or a First Quantum would like to own.”
John Black· 28 May 2026·

Outside views 3 mentions

3 mentions by people who do not speak for the company — 3 constructive, 0 cautious, 0 neutral. These are their views, not the company's.

Nick Hodge
bullish
Cited as a successful private placement — financed at $0.30, later became a $3 stock, a 10x return for early subscribers.
Natural Resource Stocks· 17 Jul 2026·
Rick Rule
bullish
Attracted to the people and deposit; likely a large tier-2 copper deposit; expects eventual acquisition.
In it to Win it· 25 Apr 2026·
Jeff Phillips
bullish
Mentioned as one of the names that had performed well in his portfolio and financing history.
VRIC Media· 09 Apr 2026·

Sources 2 interviews

Every interview 2

DateChannelInterviewStatements
28 May 2026 Rule Investment Media John Black, CEO of Regulus/Aldebaran Resources | Rule Symposium 2026: Rick Rule interviews 14
10 Jan 2025 Resource Talks COPPER & GOLD: Giant Deposit in Argentina | Aldebaran Resources CEO Interview 14

What else those interviews covered

Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.

bhp 2
regulus resources 2
antakori project 1
south32 1
first quantum 1
president milei 1
yanacocha 1
rio tinto 1

Questions people ask

What is Aldebaran Resources's project and where is it?

Aldebaran Resources is a explorer copper company, with a project stated to be in Argentina. Everything here is drawn from its executives' own interviews.

Which interviews mention Aldebaran Resources?

We track 2 interviews mentioning Aldebaran Resources, across 2 channels (Resource Talks, Rule Investment Media).

What are investors saying about Aldebaran Resources?

3 independent voices — people who do not speak for the company — are on record discussing it (3 bullish). Their reasoning is quoted in the outside-view section above.

What do recent interviews with Aldebaran Resources cover?

The most-discussed topics on record are the deposit, financing, jurisdiction, share structure — each claim quoted and dated in the sections above.

How to read this page

What is here

Statements made by company representatives in the interviews listed above — each one carrying the words that made it, the date, and the recording. Nothing is added from any other source: if it was not said on a recording, it is not on this page. The one exception lives in the Claims & Checks record, which cites a metal price from our own feed so a stated cost can be set against it — and labels it as ours wherever it appears.

What is not verified

All of it. Resource figures, economics, timelines and promotional framing are management's own representations, checked against no filing and no technical report. Transcripts are automatic; we repair a clearly mis-heard word but never a number, a date, a unit or a speaker's hedge — “about 8.6 million ounces” keeps its “about”.

How to use it

Treat it as a map of what has been said, not as a source of fact. Where a figure matters to you, open the recording and read the company's filings. Nothing here is financial advice, a recommendation, or an offer to buy or sell any security — these are interested parties discussing their own company.

Workspace Intelligence
YOUR AGENT
Investigation
Open the latest investigation, or start a new one from the left.

Notice

Loading…