BCM Resources Corporation (TSXV: B) looks like a promising speculative opportunity in the junior exploration space. The company is focused on the continued exploration of its flagship Thompson Knolls (TK) porphyry copper-gold-silver-molybdenum project, which is located in Utah’s Great Basin.
The TK project is situated about 208 kilometres (km) southwest of Kennecott Copper’s Bingham Canyon Mine. TK also lies west of the Confusion Range, which contains the King’s Canyon gold deposit that is 8km to the northeast of TK.
To date, BCM has conducted three phases of drilling totaling 12 drill holes, of which seven delivered mineralized intercepts. Hole TK-8 returned 0.66% copper over 510 feet, or about 0.8% copper equivalent.
BCM is led by Sergei Diakov, with a PhD in Economic Geology, who had previously assembled and led the BHP exploration team to the discovery of the giant Oyu Tolgoi deposit in Mongolia.
The company’s strategy is to capitalize on successful exploration drilling, building the TK project into an economic Tier 1 porphyry copper-gold deposit, amenable to future development by major companies.
On September 24, 2025, BCM announced that Kennecott Exploration Company, the exploration arm of Rio Tinto Group, has completed a large-scale claim staking program both adjoining and in close proximity to its TK project.
What you won’t find in the company’s investor presentation:
Crescat Portfolio Management LLC, a global macro asset management firm with a successful track record of natural resource investing, had a 13.55% ownership stake in BCM Resources as of August 31, 2025.
BCM chair Scott Steeds owned 14,369,726 company shares, CFO Dale McClanaghan owned 4,886,825 shares, and CEO Sergei Diakov owned 3,113,700 company shares of BCM’s 205,729,063 outstanding shares, as of May 27, 2025.
Hercules Metals Corp (TSXV: BIG), which has similar discovery results, trades at a market capitalization of $167 million, compared with a $26 million market capitalization for BCM Resources.
