AWX - Breakout from Multi-Year Cup & Handle + JV Deal with FCXArcWest Exploration (TSXV: AWX) just broke out of a 7-year cup & handle formation, hitting C$0.21 with record weekly volume (1.53M).
📉 Long-term downtrend decisively broken
📊 12W SMA (0.114) > 36W SMA (0.098)
☁️ Weekly Ichimoku turns bullish
🔻 Pullback to C$0.185 (-7.5%) may offer entry
🔎 Next resistance zone: C$0.30+
Fundamental trigger:
ArcWest Exploration is a project generator focused on porphyry copper-gold systems in British Columbia, operating under a JV-based model. The company currently has eight 100%-owned projects, several of which are already partnered with major producers.
The recent breakout follows the announcement of a joint venture agreement with Freeport-McMoRan on the Eagle project, where Freeport can earn up to 80% interest by spending C$35M over 10 years, including staged cash payments and a commitment to fund exploration.
This deal marks ArcWest's second major JV partnership, alongside Teck Resources (on the Oxide Peak project), further validating the quality of its portfolio. Both Freeport and Teck are known for targeting large, long-life copper assets, which adds strong institutional backing and long-term exploration potential.
The alignment of technical breakout + institutional interest signals a possible structural re-rating as the market begins to price in multi-asset optionality and tier-1 partnerships.
The chart and fundamentals now align, suggesting multi-year upside potential.
📌 Do your own research before investing!
