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FireFly Metals (ASX:FFM), a copper developer, is seen by some fund managers as owning one of the best undeveloped copper projects on the ASX. In September 2026, Katana Asset Management said FireFly has what it considers the best undeveloped copper mine on the ASX, with 75 million tonnes at 2.5% copper equivalent, expecting significant value once the mine is built. LSN noted FireFly benefited from strong copper prices, while Endeavor, which first bought at $1.01 and reported a 42% rally in October 2025, has since exited the position. FireFly Metals operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 14 comments from 6 fund managers, including Katana, LSN and Endeavor. Established in 2004 and headquartered in West Perth, FireFly is developing the Green Bay copper-gold project in Newfoundland, Canada, which includes the Ming underground mine and existing processing infrastructure, alongside exploration projects in Western Australia.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Endeavor Asset Management, Paragon Funds, SG Hiscock & Company, Perennial Partners, LSN Capital Partners and Katana Asset Management have invested in Firefly Metals Ltd (ASX:FFM).
Katana highlights a large, high-grade copper resource of 75 million tonnes at 2.5% copper equivalent, and LSN notes leverage to rising copper prices.
Endeavor exited after strong gains, and earlier noted pressure following a broker downgrade, while FireFly still needs to fund and develop its project.
FireFly Metals Ltd. is an Australian mineral exploration company headquartered in West Perth. Established on August 3, 2004, the firm focuses on the development of mining projects across three key reporting segments: Green Bay, Pickle Crow, and Limestone Well. FireFly Metals conducts systematic exploration activities to identify and evaluate mineral resources within these designated project areas.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.