The following article is sponsored by Algo Grande Copper (TSX-V: ALGR) / (OTCQB: KNDYF). Please see further details at bottom of page. This article was originally published at https://epsteinresearch.com/2026/03/27/algo-grande/.
Algo Grande Copper (TSX-V: ALGR) / (OTCQB: KNDYF) is exploring a high-grade copper-silver-gold skarn deposit in Sonora State, Mexico, with blue-sky porphyry potential. The Company has a tight capital structure, just 44M fully-diluted shares (~40% held by insiders & strategic investors, ~10% by institutions).
Three months into its life as a TSX venture-listed explorer (following reactivation and name change from Kenadyr Metals), Algo Grande has secured 100% ownership of the Adelita Project, a district-scale Cu-Ag-Au play in one of the world’s premier copper belts.
The December 2025 acquisition was sourced by the legendary, Mexico-focused, geologist Peter Megaw (best known for co-founding and helping build MAG Silver and playing a key role in advancing the world-class Juanicipio discovery, one of the highest-grade Ag deposits globally).
Although early stage, Adelita has been modestly de-risked via ~7,000 m of historical drilling, multiple high-grade Cu intercepts, and a substantial geological, geochemical and geophysical dataset.
However, prior operators left key technical gaps; the absence of oriented core drilling, and no detailed geophysical studies or up-to-date deposit models. This helps explain Algo Grande’s undervaluation. See NEW corporate presentation…
The team is addressing these oversights to refine the understanding of the deposit and vector toward high-value zones, with the view that Adelita could be one of the next generation of mines in Sonora.
An initial C$3.8M capital raise was followed by an oversubscribed C$6.5M private placement in February, bringing total proceeds to ~C$10M.Importantly, there were no warrants attached! The current enterprise value is roughly C$30M.
Algo Grande’s asset is in Sonora State Mexico, which produces ~80% of the country’s Cu, and of course tremendous amounts of Ag + Au.
Sonora hosts producers like: Grupo México/Southern Copper, Industrias Peñoles/Fresnillo plc, Agnico Eagle, BHP, Freeport McMoRan, Alamos Gold, Coeur Mining, First Majestic, and Miners Frisco.
Established best-in-class infrastructure; roads, smelters, power, deep-sea port, water, workers, mining services, combined with efficient permitting, creates a low-friction operating environment. Regional operators routinely process porphyry ore grading as low as 0.3% Cu.
By contrast, Adelita’s skarn mineralization consistently delivers 1%+ Cu, (plus meaningful Au/Ag credits), making the project highly strategic for producers seeking higher-grade feed to blend in their mills.
Please note the Au/Ag highlights below. In addition to strong Cu, there are historical intervals of 0.7 to 6.3 m of 1.1 to 3.1 g/t Au AND 0.7 to 6.3 m of 94 to 398 g/t Ag… Au & Ag prices were much lower when those intercepts were logged.
Geologically, Adelita is a multi-target system anchored by a high-grade skarn hosted within a 6 km prospective corridor near a historical mine operated by Pan American Silver (Alamo Dorado).
The current discovery at Cerro Grande spans ~300 m with near-surface intercepts averaging ~1% Cu, 0.5 g/t Au + 50–150 g/t Ag.
Recent surface work expanded the footprint, identifying additional skarn mineralization 3 km south, with samples exceeding 3% Cu, including a blockbuster sample returning 41.4% Cu alongside significant Au/Ag values including 1,570 g/t Ag + 2 g/t Au.
Two porphyry targets add district-scale depth potential. Management’s strategy prioritizes expansion of the known high-grade skarn while methodically testing the broader corridor.
Near-term catalysts include Phase I drill results, holes 1, 3, & 4 and the end of hole 2 (450m to 600m)– All core has been delivered to ALS, assays are pending, results in days/weeks.
Drone magnetic and lidar survey results – currently underway, expected by the end of March, both providing high-resolution structural mapping, massively improving the refinement of targets.
Systematic soil geochemistry program – soil grid sampling across under-explored areas to help define additional drill targets.
Refine drilling targets – interpretation of LiDAR, magnetics, surface sampling & geological mapping to finalize the next set of drill targets along the 6 km prospective corridor hosting the Cerro Grande deposit.
Drill mobilization & site preparation – clearing & preparation of drill sites planned during April. Phase II drilling program – planned to begin in May, with expansion drilling at Cerro Grande, plus first drilling on newly identified targets across the broader district.
Subject to more work, such a resource, supported by strong historical metallurgy, (greater than 80% recovery of Cu, Ag, Ag) could underpin a fairly high-margin underground operation with relatively low upfront cap-ex..
This near-surface, high-grade material could make Adelita an attractive acquisition or JV target. Yet, management is cashed up with no need or desire to sell or partner anywhere near the current valuation, especially as a true game-changer could lie at depth.
Geological vectors including a strong resistivity anomaly beneath the skarn, increasing molybdenum concentrations, and improving grades in deeper historical intervals point to a classic porphyry feeder system.
If we get confirmation of a significant porphyry system, that could trigger a re-rating in the valuation as investors would see substantial blue-sky potential.
Successful drilling could transform Adelita from a high-grade skarn target, to a district-scale Cu-Ag-Au asset. Phase II exploration is prudently advancing the story.
Development flexibility enhances the investment case. Option A: advance toward an underground mine leveraging high grades & strong metallurgy. Option B: position the asset for sale or JV to a nearby major.
A direct-shipping ore (“DSO”) scenario is also plausible, trucking high-grade material to nearby processing facilities for earlier cash flow, and far less upfront cap-ex while drilling continues.
At the current C$30M valuation, the market assigns limited credit to the existing high-grade discovery, resource expansion, and porphyry upside. Yet, these things are potentially worth quite a lot in a Cu-Ag-Au bull market.
Management has emphasized three key pillars, 1} disciplined focus (avoiding the temptation to chase every target), 2} prudent capital raises, and 3} commodity-cycle awareness.
In a sector plagued by over-dilution and scattered exploration approaches, Algo Grande stands out. Recent surface results including the identification of 32 high-priority targets + bonanza-grade samples reinforce the potential for near-term expansion.
With ~C$6M in cash, a clean, tight share structure, (no warrants, just 2M stock options) and a technical team bolstered by executives with notable prior exits (including to Kinross) and direct links to big successes like MAG Silver, Algo Grande is very well-positioned.
Algo Grande Copper (TSX-V: ALGR) / (OTCQB: KNDYF) offers a classic asymmetric junior mining setup in a Tier-1 jurisdiction. The foundation is a proven, near-surface high-grade Cu-Ag-Au skarn with significant scale potential.
The upside is anchored by the expansion of the skarn and finding of multiple skarn pods, and one or more porphyry discoveries at depth. That’s why Company insiders have been buying shares in the open market. There are multiple near-term catalysts here.
For investors seeking leveraged exposure to Cu with meaningful Ag/Au kickers, in a premier mining district, Algo Grande merits closer attention as exploration momentum builds through 2026 and beyond. See NEW corporate presentation…
Disclosures/disclaimers: The content of this article is for information only. Readers fully understand and agree that nothing contained herein, written by Peter Epstein of Epstein Research [ER], (together, [ER]) about Algo Grande Copper, including but not limited to, commentary, opinions, views, assumptions, reported facts, calculations, etc. is not to be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy or sell any security. [ER] is not responsible under any circumstances for investment actions taken by the reader. [ER] has never been, and is not currently, a registered or licensed financial advisor or broker/dealer, investment advisor, stockbroker, trader, money manager, compliance or legal officer, and does not perform market-making activities. [ER] is not directly employed by any company, group, organization, party, or person. The shares of Algo Grande Copper are highly speculative, and not suitable for all investors. Readers understand and agree that investments in small-cap stocks can result in a 100% loss of invested funds. It is assumed and agreed upon by readers that they will consult with their own licensed or registered financial advisors before making investment decisions.
At the time this article was posted, Algo Copper was an advertiser on [ER]. Peter Epstein owned no shares in the company, but may acquire shares in the open market.
Readers understand and agree that they must conduct due diligence above and beyond reading this article. While the author believes he’s diligent in screening out companies that, for any reason whatsoever, are unattractive investment opportunities, he cannot guarantee that his efforts will (or have been) successful. [ER] is not responsible for any perceived, or actual, errors including, but not limited to, commentary, opinions, views, assumptions, reported facts & financial calculations, or for the completeness of this article or future content. [ER] is not expected or required to subsequently follow or cover events & news, or write about any particular company or topic. [ER] is not an expert in any company, industry sector or investment topic.
