One of the great modern mining discovery stories. In 2009, the Lundin Group’s NGEx Resources had a market capitalization of C$40 million. From that original exploration company came Filo Mining, Josemaria Resources, and NGEx Minerals. Together, these businesses would go on to represent billions of dollars in value. In May 2021, Filo Mining announced a remarkable discovery hole at Filo del Sol in Argentina. Hole FSDH041 intersected: 858 metres at 1.80% copper equivalent, including 163 metres at 5.43% copper equivalent. The hole ended in mineralization at a depth of 1,046 metres. Lukas Lundin described the drilling results as among the best intercepts of his career. Three years later, BHP and Lundin Mining announced a deal valuing Filo alone at C$4.5 billion. And that was just one of the companies that emerged from the original NGEx platform. A remarkable case study in exploration, patience, and geological conviction.