Copper Company?

[Dr_Who]

Any company with pure copper mining that is currently producing?

Cheers

[biker]

Any company with pure copper mining that is currently producing?

Cheers


PNA, but it gets a bit of gold and silver in the process.

[macduffy]

Any company with pure copper mining that is currently producing?

Cheers

Interesting question, doc.

I'm no expert but at first glance it seems that there's no really strong mainly Cu producer since MIM got bought by Xstrata and OZL's recent problems. The big internationals like BHP, Xstrata, Freeport (?) seem to have the best Aust copper these days.
Minnows like Compass, CopperCo and Matrix are all in trouble.
Don't overlook the likes of nickel miners like PAN and MCR who produce a respectable amount of Cu ( and cobalt ). MCR also have a very prospective copper resource in the Tottenham Project - not producing as yet.

[Dr_Who]

Thanks.

I will do more research into it. Copper seems to be on the move. Dont know if it is sustainable. China stockpiling again.

[shasta]

Thanks.

I will do more research into it. Copper seems to be on the move. Dont know if it is sustainable. China stockpiling again.

Check out EQN, meant to be scaling up production to 150kt of Copper.

Plus some Uranium to boot, all in Zambia (sovereign risk?)

http://www.stocknessmonster.com/news-item?S=EQN&E=ASX&N=434589

AAX did alot of the work for them, if you want more reading ;)

PS, I'm with Biker, i like PNA for the Gold & Silver as well.

[biker]

Nice to see the LME copper warehouse stocks level start dropping for the first time in about 6 months. May not mean much but at least a break in the exponential rate of storage!

Bought a few more PNA today at 16.5. Dribble buying with a long term view. May be a bit of weakness for a while as SPP buyers take a small profit, or J BE WARE flog off some of their refinancing rort.

[macduffy]

And a bit of good news last night with world's biggest copper producer, Freeport-McMoRan up 12% in the US.

[biker]

And a nice wee up-tick in the copper price.

[Dr_Who]

I have exposure to Copper and Gold with my holding in IRN. :)

I want to invest more in resource stocks. PNA looks good, but on a brief read their gold production cost is too high and will not be profitable if price goes below $850. I will read more this weekend.

There must be more copper stocks out there we dont know about.

[macduffy]

Well of course it is often mined as a co-product of gold ( and other metals) so a good place to start might be with your favourite gold stocks to see who has a strong Cu/Ag mix.
Doesn't look as if there's any obvious Aust pure copper producer left that hasn't been either bought out or has major problems?

[shasta]

I have exposure to Copper and Gold with my holding in IRN. :)

I want to invest more in resource stocks. PNA looks good, but on a brief read their gold production cost is too high and will not be profitable if price goes below $850. I will read more this weekend.

There must be more copper stocks out there we dont know about.

Dr

Re PNA the gold & silver revenue are stated as credits against the Copper cash costs, which are extremely low at $US0.68/lb.

http://www.stocknessmonster.com/news-item?S=PNA&E=ASX&N=207780

There Gold production will increase when there Ban Houayxai project kicks off

[macduffy]

Especially for the doc!

Interesting read.

http://www.aireview.com.au/index.php?act=view&catid=8&id=9767&setSub=1

[impacman]

Thanks macduffy - found the article good - if not a little "a bob each way" in terms of predictions - although that seems to be the flavour of comentatary at large at the moment and I can't say I blame the authors.

Have a good weekend.

[airedale]

I have exposure to Copper and Gold with my holding in IRN. :)

I want to invest more in resource stocks. PNA looks good, but on a brief read their gold production cost is too high and will not be profitable if price goes below $850. I will read more this weekend.

There must be more copper stocks out there we dont know about.
Hi doc,check out Copper Strike: CSE
Good prospects in Queensland.
Ready to start mining when the price is right.
There is a copy of their latest presentation at stocknessmonster.com/news
Discl: a small holding in CSE

[Dr_Who]

All the copper stocks are going mental. WOW! :)

[whatsup]

Any one research or have a thought on CDU ???

[Hoop]

All the copper stocks are going mental. WOW! :)

Hope you are on board the copper train Doc...It looks like its leaving the station.

[STRAT]

All the copper stocks are going mental. WOW! :)Hi Doc,
Got a few examples?

Non of the copper stocks I have looked at could be described as that exciting:confused:

[macduffy]

Any one research or have a thought on CDU ???

I looked at them some time ago but didn't buy, for reasons I've now forgotten.:confused:

They own 100% of the Rocklands Copper Project, 15km from Cloncurry, QLD.
From memory it is one of the richest copper/cobalt deposits in Aust but the project is still in the feasibility stages with first production planned for early 2011. Still a few hurdles to jump first.
CDU seem to have plenty of cash - $21.8m at 31 December 2008 and they have been steadily buying back shares on market.
Definitely worth a serious look if you reckon copper has a future. I do.

;)

[Dr_Who]

Hi Doc,
Got a few examples?

Non of the copper stocks I have looked at could be described as that exciting:confused:


Hope you are on board the copper train Doc...It looks like its leaving the station.

Yep! sure have.

I ve got a nice holding in IRN.

PEM is doing well also.

[STRAT]

I looked at them some time ago but didn't buy, for reasons I've now forgotten.:confused:

They own 100% of the Rocklands Copper Project, 15km from Cloncurry, QLD.
From memory it is one of the richest copper/cobalt deposits in Aust but the project is still in the feasibility stages with first production planned for early 2011. Still a few hurdles to jump first.
CDU seem to have plenty of cash - $21.8m at 31 December 2008 and they have been steadily buying back shares on market.
Definitely worth a serious look if you reckon copper has a future. I do.

;)Heres a few positive pictures Macduffy though should be taken in context with who is posting them. I have added vertical green lines which I think show buy signals but would like AA or P to confirm my thoughts

[Huang Chung]

Any one research or have a thought on CDU ???

Wayne McCrae seems to be both an asset and a liability to Cudeco. He's a bit of a maverick, so gets some people offside I guess.

Haven't looked for a while, but the impression was they do lots of drilling, but seem to do little in the way of getting out some sort of resource statement.

[shasta]

I don't like the fact there is so little Directional Movement Strat, If you load up your Directional Movement indicator you will see that the ADX is only 10, This is a measure of Trend Strength. Currently there is so little trend strength CDU is going no where fast at the moment, Trend less markets like these lead to many false signals when trying to time or find a entry in to the stock, these false signals are called Whipsaws. I avoid Trendless markets, I don't like to invest in markets with a ADX below 16.

Regards

AA

If people are looking for a "pure" Copper play, then EQN shouldn't be ignored, as the largest ASX listed pure copper play (+ some uranium)

http://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=EQN&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=30&ma2=90&bb=&ind=MACD&ra=2

[STRAT]

I don't like the fact there is so little Directional Movement Strat, If you load up your Directional Movement indicator you will see that the ADX is only 10, This is a measure of Trend Strength. Currently there is so little trend strength CDU is going no where fast at the moment, Trend less markets like these lead to many false signals when trying to time or find a entry into a stock, these false signals are called Whipsaws. I avoid Trendless markets, I don't like to invest in markets with a ADX below 16.

Low Directional movement often causes the Price to crab sideways over a trend line without the Volume supported Breakout we want to see, this often leads to breakout failure, most other technical indicators as well as the moving average crossover techniques become more reliable and accurate with higher Trend Strength (directional movement)

AAThanks AA, I will look at that right now

[STRAT]

Ofcourse your trading time frame and "patience" may be much greater than mine.

I only like high directional movement because it gives me gains much faster with less risk of false signals for my timeframe.

Markets with slow weak trends, practically going sideways but with a slight upwards drift will take much longer to produce gains than a market which is moving with a good pace.

Notice when looking at a monthly or 2 chart of CDU its just tracking sideways?

I like the 14 day/period default for the ADX, but you may choose to play around with it to find what suits you.

AAYeah Im not a day trader and cant watch my plays every day. Usually look at time frames of a week to 6 months or more. Still getting my head around the ADX since you brought it up the other day. Hadnt looked at it previously. Understand how it is used but still figuring out how it works. Am playing with it :D.
Most here know Im just an apprentice and that the charts I post are for feed back as much as anything.
I really appreciate the feed back I get from Yourself and Phaedrus. You guys have helped me to no end.

Have had some trouble finding good literature on ADX

[STRAT]

Excellent,
Thanks for that AA

[macduffy]

Hard to avoid the impression that the CDU SP is being supported by the share buyback but to what extent?
About 20% of yesterday's turnover were bought back by the company ( 32,000 shares). About 1.6m shares since the bb began.

Seems a bit strange to be buying back shares when the real production expense has still to be faced and finance for greenfields mining is scarce and expensive. Does anyone recall what the company's rationale for this was?

:confused:

[AMR]

ABY seems to have broken out to form a double bottom.

[Hoop]

ABY seems to have broken out to form a double bottom.

Yep seems so AMR...broken up above that important 24 cent resistance point (candlesticks) yesterday ...fingers crossed it can be confirmed and not a bulltrap.. Spot copper is in an uptrend and the ABY indicators are looking good so I feel more bullish on this share this time.

Disc: have ABY

[Junior80]

Hi guys, been trading on KZL. It's also a copper company and have been trending up. Resistance of 65c should be re-tested again in the next couple of days. At the moment, I am not a holder.

[Huang Chung]

After much deliberation, I settled on Discovery Metals (DML) as my copper play (SRL is likely to be only be a trade). Discovery's Boseto copper project is located within the Kalahari Copper Belt in Botswana (a good African address), and already looks to be about a third the size of Prominent Hill in terms of copper content (at a similar grade), and it actually has more silver. Misses out on the gold though.

Looking to be in production around 2011, which looks to be good timing in terms of a recovery from the Geelong Football Club.

The beauty of this project is that in terms of exploration, they really just seem to be scratching the surface.

Market cap around $50m.

http://www.discoverymetals.com.au/releases/0000000275.pdf

http://www.discoverymetals.com.au/releases/0000000269.pdf

http://www.discoverymetals.com.au/ourprojects_maun.cfm

http://www.discoverymetals.com.au/releases/0000000249.pdf

[macduffy]

Interesting article for us copper buffs.

http://www.businessspectator.com.au/bs.nsf/Article/Australias-pole-position-pd20090416-R5SZY?OpenDocument&src=kgb

:cool:

[Dr_Who]

Interesting article for us copper buffs.

http://www.businessspectator.com.au/bs.nsf/Article/Australias-pole-position-pd20090416-R5SZY?OpenDocument&src=kgb

:cool:

Very interesting article. Thanks.

Goes to confim what I have been assuming for sometime. Those Chinese are long term planners and are paving their path for the future, while we sit here thinking about our past mistakes.

China will need huge amount of raw materials to upgrade their infrastructure.

[Dr_Who]

Rumour has it that the Chinese are switching out of US debt and into hard commodities. The Chinese are using their huge cash surplus to stock up their depleting raw mineral reserves.

Also, China's huge infrastructure stimulus package have pushed up future demand for iron ore and copper. The Chinese are preparing to upgrade their infrastructure, which is huge.

http://business.smh.com.au/business/copper-unlikely-to-come-a-cropper-20090419-abf1.html

[stevo1]

Copper company? Newmont Mining corp????

[macduffy]

More on copper and copper companies.

http://www.eurekareport.com.au/iis/iis.nsf/lpages/RWIE-7N92AE?opendocument

[Dr_Who]

Good reading, thanks McDuffy.

In particular, I like this comment which addresses the fundamentals of copper.


Looking longer term, an enormous amount of the world’s infrastructure expenditure over the next five to 10 years will revolve around copper. We are going to re-engineer much of the world’s power generation to lower carbon emissions, and that will require copper. The communications revolution might have a strong optic-fibre content, but a large amount of the facilities will require copper. We are going to re-engineer our cars either via the hybrid movement or via electric cars and that will also involve large amounts of copper.

[macduffy]

On the other hand.......


http://www.theaustralian.news.com.au/business/story/0,28124,25374132-15023,00.html

[macduffy]

But wait, there's more ...


http://www.theaustralian.news.com.au/business/story/0,28124,25373595-5005200,00.html

[Dr_Who]

BEAUTIFUL graph!

http://www.infomine.com/investment/charts/Dynamic_fChart_cPrice.asp?c=copper&u=lb&x=usd&r=5y

[macduffy]

This one looks even better!

http://www.infomine.com/investment/metalschart.asp?c=copper&u=lb&submit1=Display+Chart&x=usd&r=3m

;)

[Dr_Who]

Copper can go to $2.50. :)

[biker]

Any company with pure copper mining that is currently producing?

Cheers





PNA, but it gets a bit of gold and silver in the process.


PNA up 160% since this post on 4th March

[Dr_Who]

Australian share market rises with positive Goldman report on raw materials

MINERS held the share market in positive territory this afternoon after a bullish research report on the raw materials sector.

The S&P/ASX 200 was up 4.3 points, or 0.1 per cent, to 3742.2 and the All Ordinaries was higher by 4.6 points to 3739.9.

BHP Billiton gained 0.4 per cent to $33.99, Rio Tinto added 0.4 per cent to $64.34 and Newcrest Mining advanced 2.1 per cent to $32.04 after Goldman Sachs JBWere recommended investors increase their exposure to the raw materials sector, saying the worst was over.

“It seems to us that the worst is over in terms of demand for raw materials,” Goldman analysts said in a note to clients.

“Globally, de-stocking is well advanced, and the re-stocking cycle, which is already well under way in China, will follow in other key markets. Investment interest in commodities as an asset class is regaining some momentum.

“This suggests that we have also seen the bottom of the price-cycle for base metals, and particularly for copper, which remains the most supply-constrained, and therefore our preferred, commodity for investment exposure.”

http://www.theaustralian.news.com.au/business/story/0,28124,25540362-36418,00.html

[macduffy]

More copper news, doc.
Here's a report by Macquarie Bank on the copper market.

http://www.theaustralian.news.com.au/business/story/0,28124,25543338-5005200,00.html


;)

[Hoop]

Hoop has enjoyed this Copper party for the last 3 months.. ..hate it when I start seeing it in the Newspapers.

[Hoop]

Copper can go to $2.50. :)

Yes Dr W it can..and from a simple chart point of view it seems it has a good chance to get close to that mark (solid black line).


http://i458.photobucket.com/albums/qq306/Hoop_1/spot-copper-5y-26052009.gif

[macduffy]

Sorry, Hoop, but it's still making the papers!



http://www.theaustralian.news.com.au/business/story/0,28124,25545138-5005200,00.html

;)

[macduffy]

Another one for the doc.

http://www.theaustralian.news.com.au/business/story/0,28124,25555114-5005200,00.html

;)

[Dr_Who]

Thanks McDuffy.

By the time the Chinese have finished buying, the economy would have picked up and steaming ahead. The other countries will have to pay a huge premium for the stuff. The new economy which will largely rely on electricity will require alot of copper. Thats why I am hanging onto my copper stocks. For the long term baby.. for the long term, oh yeah!

[JBmurc]

Copper can go to $2.50. :)

IMHO yes very soon we will see a major breakout out of the recent resistance copper is current at...glad to have gone mad on more IRN,CFE....bring on the new 6 month highs......good to see LME stock pile is falling fast driving the new price increase

[Hoop]

Spot copper broke through 2.17 which confirmed the uptrend is still in place and dismantled the double top creation in the process. (see my post #51 chart). A very bullish signal. The price at this point (above 2.17) gave confidence to the market and the rise accelerated to be presently at 2.30.

Next point to watch is the major resistance at 2.40 ish to Dr 2.50.

Of Note: A floor has be established at 2.17 (old resistance now support)

[Footsie]

IRN looks like a good play at present

I took profit on this too early, but got back in yesterday as it now looks to have busted the 50c res.

[macduffy]

Good copper news keeps on coming!

http://www.theaustralian.news.com.au/business/story/0,28124,25573821-5017999,00.html

:cool:

[macduffy]

Copper keeps on climbing!

http://www.infomine.com/investment/charts.aspx?mv=1&f=f&r=1m&c=ccopper.xusd.ulb#chart

And LME warehouse copper stocks are slowly dropping.

All looks good for OZL in its new life as an (almost) pure copper play. And for others as well, of course.
I'll be having a closer look at PNA.

;)

[biker]

Copper keeps on climbing!

http://www.infomine.com/investment/charts.aspx?mv=1&f=f&r=1m&c=ccopper.xusd.ulb#chart

And LME warehouse copper stocks are slowly dropping.

All looks good for OZL in its new life as an (almost) pure copper play. And for others as well, of course.
I'll be having a closer look at PNA.

;)

PNA may be showing a bit of weakness at the moment due to some selling to take up the non renouncable rights at 28c. The retail offer closes on the 22nd June so between now and then may be a good buying opportunity. Things do seem to be lining up nicely for this company, but they have had a great run from their lows already of course.

[macduffy]

Yes, biker, that's the dilemma!

Plus the fact that that there will be almost 3 billion shares on issue after the placement and issue.
Just looking at this stage but the copper fundamentals look good and PNA is tempting!

[impacman]

Yes, biker, that's the dilemma!

Plus the fact that that there will be almost 3 billion shares on issue after the placement and issue.
Just looking at this stage but the copper fundamentals look good and PNA is tempting!

Certainly is a lot of shares but 25% of those are held by 2 big and recent institutional investors - GRAM (20%) and AMP (5%). I am though suprised the SP hasn't come back further given the 2 for 9 rights issue. Sent my cheque off today via courier to take up my share.


Dis: Hold

[Dr_Who]

I am keeping an eye on PEN. Anyone have a valuation on PEN?

[JBmurc]

I am keeping an eye on PEN. Anyone have a valuation on PEN?

you mean PNA -PEN is a U308 company which I am very bullish on even more so than IRN

[Dr_Who]

ROFL... yeah i mean PNA.

Thanks JBmure.

[macduffy]

PNA may be showing a bit of weakness at the moment due to some selling to take up the non renouncable rights at 28c. The retail offer closes on the 22nd June so between now and then may be a good buying opportunity. Things do seem to be lining up nicely for this company, but they have had a great run from their lows already of course.

Good call, biker!

Another day like today and I might be ready for a nibble. Or I might wait and see if the weight of the issue keeps depressing the SP.

:cool:

[ELYOB]

Prw ????? .............

[macduffy]

Chinese demand may be about to wane if this article is anywhere close to the mark.

http://www.theaustralian.news.com.au/business/story/0,28124,25661614-5005200,00.html

[Dr_Who]

Chinese demand may be about to wane if this article is anywhere close to the mark.

http://www.theaustralian.news.com.au/business/story/0,28124,25661614-5005200,00.html

What strike as odd is that why would they come out and tell everyone their strategy going forward unless they are still looking to continue buying and wants the price down. The Chinese are smart investors and very strategic traders.

[macduffy]

No doubt about that, doc.

I saw a bit of that in the 80's when China was a big, astute buyer of NZ crossbred wools.

;)

[Dr_Who]

There is only one way resources can go and that is up. Here is an interesting article that gives reasons why resources are going up in the future. Developed countries are fighting for the resources and China is accumulating it.

http://www.theaustralian.news.com.au/business/story/0,28124,25683276-643,00.html

[Hoop]

There is only one way resources can go and that is up. Here is an interesting article that gives reasons why resources are going up in the future. Developed countries are fighting for the resources and China is accumulating it.

http://www.theaustralian.news.com.au/business/story/0,28124,25683276-643,00.html

Interesting article considering the resource prices are still considered low due to poor demand and the warehouses are still overstocked.

Sounds like "two roosters in the hen house" syndrome.

[biker]

Sounds like "two roosters in the hen house" syndrome.

And that sounds like a pretty good syndrome! ( Just hope they don't ' c o c k ' it up !)

[macduffy]

PoC is still strong.

http://www.theaustralian.news.com.au/business/story/0,28124,25711408-5005200,00.html

[Dr_Who]

Bought some PNA today. Looks undervalued at these prices.

Anyone have a view on PNA?

The way the Chinese are acting on the Rio thingee has me thinking they cant get enough of resources and will continue to buyer for a long time.

[Dr_Who]

When the rest of the world starts buying resources again, China will not want to miss out and BOOM the race starts again.

I think the recent resource price fall was a healthy consolidation for the next leg up.

[macduffy]

Hi, doc.

CDU had another spectacular result from its Rocklands drilling earlier this week and the SP reacted accordingly.

If I could be a bit more confident of the way forward here I might be tempted to take a small bite.

;)

[biker]

Bought some PNA today. Looks undervalued at these prices.

Anyone have a view on PNA?

The way the Chinese are acting on the Rio thingee has me thinking they cant get enough of resources and will continue to buyer for a long time.

Took up my rights at 28c, bought max possible extras after scaling at 28c and bought more on market yesterday. I would imagine Golden Sacks J BEWARE will be syphoning off their ill gotten shares as time goes on, which may keep the price subdued for a while. Nice to see PNA dump Golden Sacks J BEWARE for the capital raising and use another broker. Can't see PNA ever going back to GSJBW after being ripped off in the loan refinancing deal.
Nice wee rise in the copper price overnight and the warehouse levels continue to fall.

[JBmurc]

Copper very bullish chart only wish IRN,CFE charts would go as bullish

[shasta]

Copper very bullish chart only wish IRN,CFE charts would go as bullish

They both need to be in production to benefit from a rising copper price.

Check the charts of EQN, OZL, PNA - all show a similar story to the PoC

[Dr_Who]

My holding in PNA and KZL is going gangbusters.

JBmure, dont worry about IRN mate, this pup will get taken out soon and it will be worth the wait. :)

[Hoop]

Copper very bullish chart only wish IRN,CFE charts would go as bullish...

Bullish?? Yes sort of JB

However all eyes on that 240ish resistance zone will PoC break it? or respect it? (again!!).

Respecting the 240ish resistance zone again will I suspect create a double top nervousness.

The ABY KZL and SRL prices in my portfolio have followed (bettered) the PoC up from the bottom..I guess there are copper companies and there are other copper companies and some perform better than others "perceived" through the investors eyes.

http://i458.photobucket.com/albums/qq306/Hoop_1/spot-copper-5y-17072009.gif

[Dr_Who]

US housing stats fires up copper

US housing starts data shows sector has bottomed out

http://www.theaustralian.news.com.au/business/story/0,28124,25807408-5005200,00.html

[JBmurc]

They both need to be in production to benefit from a rising copper price.

Check the charts of EQN, OZL, PNA - all show a similar story to the PoC

Yeah for sure but IRN 34.23% Tampakan stands out as arguably the best and near-term
undeveloped copper deposit in the world. It is difficult to identify any other new long-life,
low-cost and large-scale copper deposit that will come into production before Tampakan.
“The feasibility study process is targeting an initial 20 years at an average annual
production of 340,000 tonnes of copper and 350,000 ounces of gold with a cash cost
estimate of less than US46 cents per pound of copper after gold credits

An CFE brought the lady anne copper mine for a song with a rising copper price CFE will more likely get a better price from the buyers sniffing round atm...

the higher the Cu the more likely these 2 will be greatly rewarded with Cu Asset sales

[shasta]

Yeah for sure but IRN 34.23% Tampakan stands out as arguably the best and near-term
undeveloped copper deposit in the world. It is difficult to identify any other new long-life,
low-cost and large-scale copper deposit that will come into production before Tampakan.
“The feasibility study process is targeting an initial 20 years at an average annual
production of 340,000 tonnes of copper and 350,000 ounces of gold with a cash cost
estimate of less than US46 cents per pound of copper after gold credits

An CFE brought the lady anne copper mine for a song with a rising copper price CFE will more likely get a better price from the buyers sniffing round atm...

the higher the Cu the more likely these 2 will be greatly rewarded with Cu Asset sales

Only comparison i can think of is EQN, ramping up to 150kt per year of Cu + some Uranium in Zambia.

Can IRN really fund it's portion of the project though?

Looks more of a certain takeover target than a large copper/gold producer

[Lego_Man]

Yeah for sure but IRN 34.23% Tampakan stands out as arguably the best and near-term
undeveloped copper deposit in the world. It is difficult to identify any other new long-life,
low-cost and large-scale copper deposit that will come into production before Tampakan.
“The feasibility study process is targeting an initial 20 years at an average annual
production of 340,000 tonnes of copper and 350,000 ounces of gold with a cash cost
estimate of less than US46 cents per pound of copper after gold credits

An CFE brought the lady anne copper mine for a song with a rising copper price CFE will more likely get a better price from the buyers sniffing round atm...

the higher the Cu the more likely these 2 will be greatly rewarded with Cu Asset sales

Theyve been a pretty average performer of late...

[JBmurc]

Only comparison i can think of is EQN, ramping up to 150kt per year of Cu + some Uranium in Zambia.

Can IRN really fund it's portion of the project though?
yes they currently have 70mill in cash an a large 34% share of a future 1.2+bill cashflow mine per ann-- raising 150mill-200mill cash shouldn't be hard with those numbers

Looks more of a certain takeover target than a large copper/gold producer

check out my post on IRN thread ,I personal would rather see IRN reject a sale of their tampakan interest for under $1.50 yet with there S/P in the low 40c takeover of IRN is most likely unless the S/P gets closer to a fair value.

[Dr_Who]

LST is looking to sell their balance holding in IRN, hence the sp have not moved up.

If IRN sp comes back more, I will add to my current holding. :)

[shasta]

LST is looking to sell their balance holding in IRN, hence the sp have not moved up.

If IRN sp comes back more, I will add to my current holding. :)

I thought LST had sold there stake to Xstrata?

[Dr_Who]

I thought LST had sold there stake to Xstrata?

They sold most of it with only a small holding left.

Under the agreement LST merger with Catapal to create a mid tier gold miner, LST have to sell non core assets, which is IRN.

I am keen to add more to my IRN holding if the sp do fall further. My guess is the Chinese and/or a large miner look to take out Tampakan.

[JBmurc]

They sold most of it with only a small holding left.

Under the agreement LST merger with Catapal to create a mid tier gold miner, LST have to sell non core assets, which is IRN.

I am keen to add more to my IRN holding if the sp do fall further. My guess is the Chinese and/or a large miner look to take out Tampakan.

IMHO the takeover will be of IRN an not just Tampakan they won't be getting mine or me mates IRN for under $1.50

[Dr_Who]

Copper price near $250! :eek:

[Dr_Who]

"China inventory build is essentially complete, while we are now seeing evidence that restocking has commenced in North America, Europe and Japan," BHP said.

http://www.theaustralian.news.com.au/business/story/0,28124,25818864-5005200,00.html

[Hoop]

Copper very bullish chart only wish IRN,CFE charts would go as bullish...

Bullish?? Yes sort of JB

However all eyes on that 240ish resistance zone will PoC break it? or respect it? (again!!).

Respecting the 240ish resistance zone again will I suspect create a double top nervousness.

The ABY KZL and SRL prices in my portfolio have followed (bettered) the PoC up from the bottom..I guess there are copper companies and there are other copper companies and some perform better than others "perceived" through the investors eyes.

http://i458.photobucket.com/albums/qq306/Hoop_1/spot-copper-5y-17072009.gif
Spot copper ended trading just north of $2.50
JB.. yes.. much more bullish now. Resistance zone has be broken...next level at $2.80 ...eventual TA target $3.70?

Just keep an eye that it will respect its new support now...there's been a lot of false breaks lately.
The double top bearish fear should now disappear.

[Dr_Who]

Supply worries drive copper to new 9-month high

http://www.theaustralian.news.com.au/business/story/0,28124,25823278-5018023,00.html

[macduffy]

For those looking for a speculative play on copper, Sandfire Resources looks interesting.

http://www.theaustralian.news.com.au/business/story/0,28124,25838151-5018034,00.html

All blue sky at this stage so DYO careful R.

:D

[Dr_Who]

For those looking for a speculative play on copper, Sandfire Resources looks interesting.

http://www.theaustralian.news.com.au/business/story/0,28124,25838151-5018034,00.html

All blue sky at this stage so DYO careful R.

:D

Holy smoke, the sp have gone up like 1000% :eek:

I like this statement, which is fantastic for IRN...

Incidentally, ABN Amro Morgans last week put out its latest metals report with chief economist Michael Knox saying copper is still cheap. One reason: once real demand starts growing again, the stockpiles will shrink and there are very few new, big copper mines due to start up in the next five years.

[JBmurc]

Holy smoke, the sp have gone up like 1000% :eek:

I like this statement, which is fantastic for IRN...

Incidentally, ABN Amro Morgans last week put out its latest metals report with chief economist Michael Knox saying copper is still cheap. One reason: once real demand starts growing again, the stockpiles will shrink and there are very few new, big copper mines due to start up in the next five years.

Me old man just got back from hong-kong seen him in the weekend ,when he was their he caught up with business friend who has 10 of millions invested in the markets ,his tip COPPER invest in COPPER very good future

[OldRider]

Have a look how AVM has moved in the last month or so

[JBmurc]

Have a look how AVM has moved in the last month or so

Yeah their 1 month is great 5yr looks shocking some bargin buying for the congo copper co

[steve fleming]

from mergermarket....


Tongling Nonferrous Metals Group [Tong Ling You Se Jing Shu], a listed Chinese copper maker, is seeking opportunities to acquire copper mines in Australia, Canada and Chile, a company source said.

Tongling is eyeing copper mines with no less than one million tons in reserves. A green field mine as well as grades of less than 0.5% would not be considered. It should also be near infrastructure such as a harbor or convenient transportation facilities, according to the source.

Tongling has approximately CNY 1.8bn (USD 263m) cash on hand. The budget used for acquisitions will be around USD 1bn. It will raise funds from the China Development Bank or team up with other Chinese state-backed miners to carry out the acquisition if the target value is beyond the budget.

A mining strategist said that Tongling may have a tough time acquiring copper mines in Canada and Australia. He explained that in the wake of the Rio Tinto and Chinalco deal, Australia will not be interested in letting a Chinese company make a bid for a sizable copper mine in the country.

An unnamed Australian analyst said that the larger targets such as ASX listed miner PanAust, which has copper operations, would not be viable for Tongling as its operations are located in Thailand and Laos. Smaller miners such as the ASX listed Exco Resources are more likely, he said. Exco has a market cap of AUD 69.76m (USD 57.34m).

Queensland was given as an area of interest as there would be none of the issues facing Chinese investors such as those experienced by Chinalco with Oz Mineral's Prominent Hill project due to the fact the projects are not near important Government sites, the analyst stated. Anything Tongling looked at however, would not be that developed, he added.

One possible target is North Queensland Metals which has been previously been reported on this news service to be looking to divest its copper assets.

The ASX listed energy player Lodestone Energy, which has copper prospects in Queensland was also contacted, with MD Jeff Jamieson saying Lodestone would consider approaches from Tongling for joint ventures on its copper prospects. Lodestone has a market cap of AUD 25.71m (USD 21.13m).

The Tongling source was unfamiliar with these potential target companies and declined to give any comment on them before seriously checking them out.

Tongling is one of the three largest copper makers in China. China has a lack of copper mines. In 2008 around 90% of copper ores Tongling refined were imported from overseas. Tongling generated revenues of about CNY 37.3bn (USD 5.4bn) and has a market cap of around CNY 33bn (USD 4.8bn).
By Yumin Wang in Shanghai, Page Robinson in New York and Cole Latimer in Sydney

[Dr_Who]

from mergermarket....



A mining strategist said that Tongling may have a tough time acquiring copper mines in Canada and Australia. He explained that in the wake of the Rio Tinto and Chinalco deal, Australia will not be interested in letting a Chinese company make a bid for a sizable copper mine in the country.


By Yumin Wang in Shanghai, Page Robinson in New York and Cole Latimer in Sydney


Who is this mickey mouse strategist that is full of shiat?

Make a bid for IRN at $1.50 and it will go to the Chinese. Well, not entirely, Xstrata may come in and trump them with a higher bid. :)

Rumours flying about possible copper manipulation. I tend to disagree. But here is the article from the NBR.

http://www.nbr.co.nz/article/copper-price-rise-prompts-market-manipulation-rumours-106569

[Hoop]

Copper prices doubled..yeah but so has Zinc Nickel and Lead see for yourselves at Kitco historical charts (http://www.kitcometals.com/charts/lead_historical.html).

I don't think people fully understand how much copper is used in the world and the demand for more to be dug out of the ground as recycling can't keep up.

One example
China's population may not be averaging middle class yet, but I bet a large proportion of the population has a cellphone now.
This is modern day accessory that our young kids can't survive without and has to be renewed every couple of years to stay in fashion..... did you know 7% of a cellphone weight is pure copper so imagine multiplying this weight by a billion times .....

[Dr_Who]

If you think copper prices are high now, wait till electric cars comes onto the market for sale next year. ;):)

[POSSUM THE CAT]

Yankiwi since when can you transmit power over fibre optic cable

[JBmurc]

Yes Doc, but don't forget all the copper on the powerpoles that is going to be replaced by fibre-optic lines ;)

than will pail in comparison to the mass of copper needed for new electrics be it cars,computers,tv,cellphones,power plants etc etc

I remember reading awhile back that China was building a city the size of Brisbane in total new buildings nationwide per month back in the start of the resource boom -china is still growing be it abit slower

the resource bull market has taken a breath over the last year now it with the help of trillion's of easy money is set to carry on

[POSSUM THE CAT]

Yankiwi In most places telephone lines have not been around for about 20 years

[STRAT]

Well they're hanging outside my house in Rotorua, 2k from the cbd, and a population 60K ish?

How does your phone connect with the outside world at your place Possum, morse code spotlights or smoke signals? I bet they plug into the wall somewhere. :rolleyes:under ground ;)

[macduffy]

I've been dithering over whether to top up my OZL or to buy some PNA.

Think I'll sit pat for the present.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a6EtKUzeuRFc

;)

[Dr_Who]

Go copper go! $282!!!

No stopping this bull resource. Hope everyone is still long on copper resources, cos I am. China cant get enough of it and now the north Americans and Euro is buying.

[macduffy]

Hi, doc.

CDU had another spectacular result from its Rocklands drilling earlier this week and the SP reacted accordingly.

If I could be a bit more confident of the way forward here I might be tempted to take a small bite.

;)

CDU was trading around $2-50 when I wrote that on 16 July.

Today it's at $4-45!

No, I never got confident enough to buy any.

:(

[KentBrockman]

CDU was trading around $2-50 when I wrote that on 16 July.

Today it's at $4-45!

No, I never got confident enough to buy any.

:(

Have a look at MNC. Could have a resource as big as CDU. Fangulator did a nice write up over on HC.

[Dr_Who]

Copper have ust broken through the $290 resistance barrier, now trading $293. :eek: Wow.. lets see if it can hold and go north tonight with New York opens.

The Chinese are trying to put on the brakes by reducing production, but it is clearly not working, cos the rest of the world have starting buying again.

[Dr_Who]

Copper close $297. WOW! :eek:

[Corporate]

Amazing! There must have been some good copper stocks that have risen lately. I don't follow any in particular.

Good news for holders of CFE and the IPO of Lady Annie :D

[tricha]

Amazing! There must have been some good copper stocks that have risen lately. I don't follow any in particular.

Good news for holders of CFE and the IPO of Lady Annie :D

There is going to be a huge, massive demand for copper coming up, as oil gets very expensive and the change to electric everything comes into being. Change is going to be swift.
Uranium, Copper, Oil, Silver. Have you got yours :confused:
Electric cars: Charged up for the future

Page 1 of 3 View as a single page (http://www.nzherald.co.nz/motoring/news/article.cfm?c_id=9&objectid=10593854&pnum=0) 4:00AM Saturday Aug 29, 2009
By Alastair Sloane (http://www.nzherald.co.nz/alastair-sloane/news/headlines.cfm?a_id=51)

http://www.nzherald.co.nz/motoring/news/article.cfm?c_id=9&objectid=10593854

[JBmurc]

Amazing! There must have been some good copper stocks that have risen lately. I don't follow any in particular.

Good news for holders of CFE and the IPO of Lady Annie :D

Yeah still rather have a clean 150mill+ sale still I wouldn't be surprised if CFE have made the announcement to get some action from the several keen buyers -make a bid or watch the market decide the price an miss out while the Copper price moves north..

[Corporate]

Yeah still rather have a clean 150mill+ sale still I wouldn't be surprised if CFE have made the announcement to get some action from the several keen buyers -make a bid or watch the market decide the price an miss out while the Copper price moves north..

JB I totally agree. I think this is definitely a ploy to flush some buyers to the floor. However, with copper going north it is a great time to be selling Annie..any idea on what the copper price was when CFE purchased?

[JBmurc]

On the 6th of feb CFE announced the purchase of Copperco dept which was the very smart start to buying all of Copperco's assets for 120mill odd...

Copper was round 1.50 it's now 2.95 an looking likely to break through $3

The IPO will see be good esp. if the total value of the IPO is high 180mill+ etc an CFE keep a 5%-10% royalty

Still if CFE announced a 150mill+ cash sale it would really spark the SP as CFE total value is just so low ,It would show again the boys know how to make the major deals which will lift market attention towards the many other assets CFE have

[Hoop]

Copper have ust broken through the $290 resistance barrier, now trading $293. :eek: Wow.. lets see if it can hold and go north tonight with New York opens.

The Chinese are trying to put on the brakes by reducing production, but it is clearly not working, cos the rest of the world have starting buying again.

JBmurc quote.. "....Copper was round 1.50 it's now 2.95 an looking likely to break through $3..."

Resistance levels come in thick and fast from $3 upwards...might see a deceleration in the uptrend line.



http://i458.photobucket.com/albums/qq306/Hoop_1/copperchart28082009.png

[Dr_Who]

George Soros jumping on the copper bandwagon.

BILLIONAIRE George Soros's investment fund has leapt on to the share register of Marengo Mining, taking a 19.9 per cent stake in the Perth-based copper developer.

http://www.theaustralian.news.com.au/business/story/0,28124,26014200-643,00.html

[Dr_Who]

This is just one of the many examples why i think resources will be in great demand in the future and China will continue buy commodities.

The proposed railway will span 1,629 km, 650 km of which will be in Sichuan. Trains will travel at a maximum speed of 200 km per hour and will take only eight hours to reach Lhasa, the capital of the Tibet autonomous region, according to Wang Minghui, deputy chief of the Chengdu railway administration.

http://www.chinadaily.com.cn/bizchina/2009-09/03/content_8649487.htm

[biker]

From today's (6th) Sun Herald (NSW) Investor supplement:
"PanAust has glittering prospects
"Analysts are upbeat on this mining and exploration company.
"This copper and gold mining and exploration company was established in its current form more than a decade ago but started looking to South East Asia towards the end of the 1990's. It acquired controlling intersts in a project in Thailand in 1999 and its cornerstone project in Laos in 2001.
"It is Brisbane headquartered but all its operations are offshore.
"Although it reported a loss for the past halfyear, most analysts researching the stock are optimistic, with seven out of 12 rating it as a buy.
"Its cornerstone Phu Kham Copper-Gold operation in Laos was brought on stream in April last year and started commercial production of coper-gold oxide in June, 2008.
"It has just completed its first 12 months of operation and had no lost time injuries (LTI) - a total of 6.5 million hours with no injury that would have prevented any employee working.
"That's rather remarkable considering the Australian open-cut metalliferous mining industry performance of 1.8 LTIs per million man hours during 2007-08.
"And although it reported an interim net profit after tax (NPAT) loss of $US15.8million for the first half ended June, that included $US19.1million in one-off costs associated with a share-option expense and a redemption fee for the repayment of a debt facility with Goldman Sach JBWere.
"The company is also about to receive a $216 million investment from Chinese Guangdong Rising Assets Management after the Chinese Govt. approved its investment in the company. That, along with an equity raising earlier this year, has helped knock its gearing level to less than 20 per cent, not a bad thing in the current environment.
"And if the copper price continues to rise, admittedly off a rather low base, its outlook may be even rosier.
"UBS is so optimistic it has made it its preferred Australian copper stock.
"UBS write in a report 'this is due to its solid operating performance and options for expansions at Phu Kham and the potential development of the Ban Houayxai gold-silver project'
"The Ban Houayxai project is in the south-west of the Phu Bia Contract Area in Laos and had a pre-feasability study completed on it in September last year, which revealed the potential to produce 100,000oz to 130,000 oz of gold and 700,000 to 800,000oz a year of silver over a minimum period of six years.
"Although currently trading at about 40cents, UBS has a price target of 59 cents on the stoock. RBS has a price target of 47 cents but Citigroup's is 42cents, due to a more conservative commodity price outlook.
"Advantages:
Improving copper price
New project potential
Major Chinese investor
Disadvantages:
Volatility of commodity prices
Exchange rate
Country risk
Verdict
Although commodity prices are volatile and PanAust has just one major project online, it has identified other opportunities that
could eventually turn it into a much bigger player."

[Dr_Who]

Gold and copper going mental. :)

[macduffy]

Olympic Dam accident could tip supply of copper back into deficit.



http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=90425&sn=Detail

I'm holding OZL.

[Hoop]

Olympic Dam accident could tip supply of copper back into deficit.



http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=90425&sn=Detail

I'm holding OZL.

Macduffy I have a question that you might be able to answer.........for me its a head scratcher
The chart showing Comex Copper Warehouse level went from 53969 to 4094 in one day (8th Oct)...do you know what happened. Has someone bought up nearly the whole supply?

[macduffy]

Macduffy I have a question that you might be able to answer.........for me its a head scratcher
The chart showing Comex Copper Warehouse level went from 53969 to 4094 in one day (8th Oct)...do you know what happened. Has someone bought up nearly the whole supply?

Yes, I noticed that too, Hoop.

I don't know the answer although it does look as if the supply is contracting. To put it into perspective though, on the same day the LME stocks went from 347,150 tons to 346,860 tons.

[Dr_Who]

I have been doing abit of reading and thinking lately.

I think that copper, Iron Ore etc, with the exception of gold/silver may have had its run and will be tracking sideways or downwards abit. The Chinese may have finished stockpiling for now.

The Chinese economy have recently been driven by excess liquidity and low interest rate instead of export. There is a imbalance between consumption and investments. Alot of the stimulus package have gone into speculative properties, equities and stock piling of commodities.

[shasta]

I have been doing abit of reading and thinking lately.

I think that copper, Iron Ore etc, with the exception of gold/silver may have had its run and will be tracking sideways or downwards abit. The Chinese may have finished stockpiling for now.

The Chinese economy have recently been driven by excess liquidity and low interest rate instead of export. There is a imbalance between consumption and investments. Alot of the stimulus package have gone into speculative properties, equities and stock piling of commodities.

The Chinese appear to be heading down the rare earths, uranium road now.

They are also buying up land in all sorts of places (incl Africa)

Im watching the likes of IPL & MAK for any chinese involvement, land cleared for food production seems to be the next "big thing"

[Dr_Who]

You maybe onto something there with IPL and MAK Shasta.

If the NUF is successful, I will put some of the proceeds into IPL.

Keep us up to date. Cheers

[shasta]

You maybe onto something there with IPL and MAK Shasta.

If the NUF is successful, I will put some of the proceeds into IPL.

Keep us up to date. Cheers

The Chinese company Agria has today bought 13% of PGG Wrightson.

Perhaps it's starting already ;)

[stevo1]

The Chinese appear to be heading down the rare earths, uranium road now.

They are also buying up land in all sorts of places (incl Africa)

Im watching the likes of IPL & MAK for any chinese involvement, land cleared for food production seems to be the next "big thing"

Shasta you may want to look at MNM absolute minnow at market cap $5.6 mill.Smidge of copper but U ,gold.coal,coal bed methane.With phosphate prospects next door to MAKs Wonarah deposit.
Some JV possabilities beginning

[Lego_Man]

You maybe onto something there with IPL and MAK Shasta.

If the NUF is successful, I will put some of the proceeds into IPL.

Keep us up to date. Cheers

Doc, i had similar thoughts to you but sold out of my NUF recently for 11.75. From a risk/reward point of view it didnt stack up.

The upside from current prices of 11.60 is 1.55, or 13 and a half percent.

For that you have to wait until next March, and are subjected to termination risk of the deal.

I figured my capital could be better spent elsewhere...

[shasta]

Shasta you may want to look at MNM absolute minnow at market cap $5.6 mill.Smidge of copper but U ,gold.coal,coal bed methane.With phosphate prospects next door to MAKs Wonarah deposit.
Some JV possabilities beginning

Cheers for the heads up, i'll take a more detailed look tomorrow & report back ;)

[macduffy]

The PoC powering on as dollar weakens.

http://www.theaustralian.news.com.au/business/story/0,28124,26234750-5005200,00.html

[Hoop]

A little milestone was accomplished yesterday without much fanfare ...the $3 mark was cracked.

Post#123 (30th August 2009) Quotes
JBmurc quote.. "....Copper was round 1.50 it's now 2.95 an looking likely to break through $3..."

Hoop quote.."Resistance levels come in thick and fast from $3 upwards...might see a deceleration in the uptrend line".

http://i458.photobucket.com/albums/qq306/Hoop_1/copper23102009.png

[Dr_Who]

I have been doing abit of reading and thinking lately.

I think that copper, Iron Ore etc, with the exception of gold/silver may have had its run and will be tracking sideways or downwards abit. The Chinese may have finished stockpiling for now.

The Chinese economy have recently been driven by excess liquidity and low interest rate instead of export. There is a imbalance between consumption and investments. Alot of the stimulus package have gone into speculative properties, equities and stock piling of commodities.

Resources getting hit hard in Aussie. :eek:

Will this be an opportunity to buy or another trend downwards?

[macduffy]

"Copper is just half way through its bull market."

Is it?

http://www.thebull.com.au/articles_detail.php?id=7033

[macduffy]

Copper still looking strong. Now over US$3 per lb.

http://www.infomine.com/investment/charts.aspx?mv=1&f=f&r=3m&c=ccopper.xusd.ulb#chart

Yesterday's strategy statement by OZL made good reading with some interesting points on supply and demand.

;)

[drillfix]

Yesterday's strategy statement by OZL made good reading with some interesting points on supply and demand.

;)


MacDuff, did you watch LateLine Business on the ABC last night?

They were talking about OZL saying that if they dont hurry up and make some acquisitions soon, and with all that cash they have sitting on them, they themselve's might be the ones that end up getting taken over if they are not careful.

Interesting stuff, is the cash factored into the current price though?

[macduffy]

MacDuff, did you watch LateLine Business on the ABC last night?

They were talking about OZL saying that if they dont hurry up and make some acquisitions soon, and with all that cash they have sitting on them, they themselve's might be the ones that end up getting taken over if they are not careful.

Interesting stuff, is the cash factored into the current price though?

Given that there's over 3 billion shares on issue I'd think that the cash is well and truly factored into the SP.

After OZL's near death experience recently I wouldn't say 'No' to an attractive offer, despite the promising outlook for the company and the PoC.

;)

[macduffy]

The PoC hits a new 16 month high, despite growing LME stocks.

http://www.theaustralian.com.au/business/mining-energy/threat-of-chuquicamata-mine-strike-lifts-copper-to-16-month-high-on-lme/story-e6frg9dx-1225814903343

[biker]

Nice to see PNA hit 60c today.

[macduffy]

And the PoC continues to firm!

http://www.theaustralian.com.au/business/markets/copper-rises-on-factory-data-strike/story-e6frg92f-1225816129780

:cool:

[Dr_Who]

Amazing!

When I made this thread I never thought copper would reach this high this fast.

[macduffy]

Here's an interesting article on the performance of selected copper stocks over 2009.

A couple of points. I think they have their "high" and "low" columns transposed?
The figures for BHP and RIO looked a bit high to me - then I realised they are shown in GBP!

Unfortunately, they don't include OZL.

http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=95824&sn=Detail

[macduffy]

Here's an interesting article on the performance of selected copper stocks over 2009.

A couple of points. I think they have their "high" and "low" columns transposed?
The figures for BHP and RIO looked a bit high to me - then I realised they are shown in GBP!

Unfortunately, they don't include OZL.

http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=95824&sn=Detail

OK, I see it now!

The columns weren't transposed, it was just my twisted way of looking at them.

:o

[Dr_Who]

AMAZING!

Copper prices is at pre financial crisis levels. Who would have thought copper prices would go back up so fast? Just simply amazing.

I suspect the new electric cars and hybrid will need alot of copper.

[macduffy]

I hate to mention it doc, but "brokers" are tipping base metals, including copper, to "take the brunt" of commodity price falls during 2010.

Bur what would they know?

:D

I hold BHP, OZL.

http://www.thebull.com.au/articles_detail.php?id=8745

[Dr_Who]

I ve been keeping an eye on OZL lately, again. :) Havnt been keeping a close eye on it since my profitable foray when the Chinese took interest.

[Hoop]

Would you believe it..
Equity sharp downward corrections...
VIX (fear index) huge rise in volatility..
Permabears roars are deafening.
My email box full of doom from the Death Merchants Prectner Roubini etc telling me "we told you so but you didn't listen"..blah ...blah...................

.............. but copper rose last night.

Definitely tells you the world's not ending just yet:D maybe next week;)

Of interest a copper chart in Aust $$$ that a drew up thats more revelant to this thread...still looking good huh Macduffy no probs yet

http://i458.photobucket.com/albums/qq306/Hoop_1/copperaust22012010.png

[Dr_Who]

Well, it looks like copper have finally given in to the market weakness. :eek:

Lucky OZL is cashed up this time round. Will have to wait till OZL and copper price to bottoms yet again.

[macduffy]

Terry Burgess, CEO of OZL, explains why he's bullish about copper.

http://www.businessspectator.com.au/bs.nsf/Article/KGB-pd20100204-2CBNE?OpenDocument&src=kgb

[Dr_Who]

McDuffy, link is broken. Cant get article.

[macduffy]

Try

www.businessspectator.com.au

[Hoop]

Copper closed at 352.03 (US$3.52/lb) up around 4%
New closing high since the end 2008 bottom.
Most metals had a good day apart from Nickel
Looking good for miners today?

[macduffy]

OZL says outlook for copper is strong.

http://www.theaustralian.com.au/business/copper-outlook-bright-amid-tight-supply-and-growing-demand-from-china/story-e6frg8zx-1225848234715

And copper soars to near two year high.

http://www.theaustralian.com.au/business/markets/copper-soars-to-nearly-two-year-high/story-e6frg91o-1225847755607


I hold.

[macduffy]

Traders warn that the PoC may be in for a fall.

http://www.theaustralian.com.au/business/markets/hot-copper-may-cool-quickly/story-e6frg91o-1225850802781

But LME warehouse stocks continue to drop.

http://www.infomine.com/investment/charts.aspx?mv=1&f=f&r=3m&w=wcopper_lme_warehouse#chart

[Dr_Who]

I am pretty much under weight in all hard commodities with exception of coking coal, rare earth and Iron Ore.

[shasta]

I am pretty much under weight in all hard commodities with exception of coking coal, rare earth and Iron Ore.

Copper Going To $1?

http://www.cnbc.com//id/37577766

Interesting comments that Chinese is stockpiling it & not using it, showing there's excess supply at present

[Hoop]

Copper Going To $1?

http://www.cnbc.com//id/37577766

Interesting comments that Chinese is stockpiling it & not using it, showing there's excess supply at present

This Guy rattles a lot of cages...he a bear.. he said in April 2006 a perfect storm was about to happen when copper was at $3.50/lb..2.5 years later it did come down from $3.5/lb due to a different reason that of the GFC .
This latest article is late reporting as he mentioned this latest scenario back in February2010.
I not concerned about the article...I've taken a keen interest in Copper over the last two years and I will tell my story when i have time
Have to go now.

[Dr_Who]

I am keeping a close eye on China. I think we can start to re-visit copper and resources again near the end of this year to early next year?

Lets keep talking so we can all benefit from it.

[macduffy]

Copper has its best monthly price rise for a year.

http://www.theaustralian.com.au/business/copper-keeps-rising-in-a-confusing-world-market/story-e6frg8zx-1225899741995

I hold OZL.

[Hoop]

Copper has its best monthly price rise for a year.

http://www.theaustralian.com.au/business/copper-keeps-rising-in-a-confusing-world-market/story-e6frg8zx-1225899741995

I hold OZL.

Copper has just punched through another resistance level a couple of hours ago and has added another 1% now at 3.34...looking really strong atm....
Seems Monday is going to see a great start for Equities in Europe...Miners doing well in Ozzie:)

[macduffy]

Demand for copper may outstrip supply, according to RIO.

http://www.theaustralian.com.au/business/copper-demand-may-outstrip-supply-rio-tinto-says/story-e6frg8zx-1225938894930

[Huang Chung]

Keep an eye on HOR.

Sitting on 48,000 tonnes of 1% copper, still contained in an ex-copper mine (Horseshoe Lights).

Not too for from Sandfire's Doolgunna.

Doing some drilling which is so far uncovering more low grade copper.....nothing to shoot the lights out though.

Mkt cap only around $15m.

Could be a candidate for a rising tide to lift all boats.

(Disc...holding some oppies, which I got for free from the float earlier in the year. Sold the heads a while ago)

[Hoop]

Demand for copper may outstrip supply, according to RIO.

http://www.theaustralian.com.au/business/copper-demand-may-outstrip-supply-rio-tinto-says/story-e6frg8zx-1225938894930

Well..heres another quote..."Prices are up on economic optimism (http://www.danielstrading.com/resources/news/Futures-Market-News/Copper-futures-climb-to-highest-price-in-27-months_800110323/)," Adam Klopfenstein, a senior market strategist at a broker in Chicago, told Bloomberg News (http://noir.bloomberg.com/apps/news?pid=20601012&sid=aUpXh0B9KNqg). "Copper is looking beautiful to the upside."

Hmmmm.....why can't I join in on all this elation of joy and well being at the copper party..because I'm cautious at the US$3.7937/lb close....now if it closed at say 4.10 today it would be a different story, I would be the life of the party.

So for the time I'll stay sober and reserve my judgement.

Normally both these chart formations are more bullish than bearish therefore the previous ascending triangle broke down against the odds...This time the formation may like similar but note it is not an ascending triangle.

http://i458.photobucket.com/albums/qq306/Hoop_1/copper14102010.png
http://i458.photobucket.com/albums/qq306/Hoop_1/Copper10year.png

[airedale]

Check out YTC. The drill results are showing good signs of copper.
Discl: Holding YTC

[trackers]

CGG could be a cheap entry to EQN (look at their beautiful chart!) if they dip a bit

[trackers]

New junior to check out: SBR.

101mil shares @ 30c = 30mil market cap.

Finding visible copper in Namibia... Kaskara looks very very promising

Mineralisation distributed over 3.6km.
Gossan analyses record:
• Copper up to 23.5%.
• Lead over 35%.
• Zinc up to 34.4%.

1500km2 in granted permits

4mil cash in hand.

Few issues thats caused sp to retreat:

- Unlisted oppies just expired at 30c, so an insider hasn't taken these up for whatever reason
- Recent drilling issues (rig issues, losing drill bit etc)
- Assays shipped to S.A then on to Aus (i.e will take an age to process)

However this could be a good opportunity to get in on the ground floor... Something to consider (disc: hold none)

[macduffy]

It might be in a bubble but copper continues to make new highs.

http://www.theaustralian.com.au/business/supply-concerns-push-copper-to-a-new-high/story-e6frg8zx-1225952879154

[trackers]

Thanks the article Macduffy, I'm focused on copper companies at the moment, unlike other commodities at least this one is backed by strong demand and inadequate supply.

Hold YTC and SMD. Might re-look into AVB and HOR on the micro cap front

Can anyone recommend any decent mid cap copper companies? The small cap index has risen strongly but I think mid caps could be the next to go (having moved very little last time I looked)

[trackers]

Anyone had a look at RCP? Looks to be the cheapest copper explorer on the ASX....

Market cap $5mil. JORC resource of 90k tonnes copper (~$740mil in situ value). Targetting small scale production next year?

SP has dissolved this year from 15c to around 3c. Looks like they signed up for a poor finance deal with La Jolla? Haven't read too much into that. Very little cash on hand unless they cash in on their convertible notes.

One to watch perhaps

[Hoop]

Well..heres another quote..."Prices are up on economic optimism (http://www.danielstrading.com/resources/news/Futures-Market-News/Copper-futures-climb-to-highest-price-in-27-months_800110323/)," Adam Klopfenstein, a senior market strategist at a broker in Chicago, told Bloomberg News (http://noir.bloomberg.com/apps/news?pid=20601012&sid=aUpXh0B9KNqg). "Copper is looking beautiful to the upside."

Hmmmm.....why can't I join in on all this elation of joy and well being at the copper party..because I'm cautious at the US$3.7937/lb close....now if it closed at say 4.10 today it would be a different story, I would be the life of the party.

So for the time I'll stay sober and reserve my judgement.



PARTY TIME started on the 13th December :)

Copper hits record high (http://www.marketwatch.com/story/gold-gains-as-dollar-losses-ground-2010-12-21?dist=afterbell) Market Watch 21/12/2010.

Copper broke through its primary resistance (4.06/ 4.08) on 13 Dec and has reached a 4.29 intraday high today....this is blue sky territory with primary support at 4.08

[trackers]

I agree Hoop, loving it. :t_up:

[shasta]

Thanks the article Macduffy, I'm focused on copper companies at the moment, unlike other commodities at least this one is backed by strong demand and inadequate supply.

Hold YTC and SMD. Might re-look into AVB and HOR on the micro cap front

Can anyone recommend any decent mid cap copper companies? The small cap index has risen strongly but I think mid caps could be the next to go (having moved very little last time I looked)

A couple for you to look at, EQN & PNA in the mid tier range

[JBmurc]

GCR is worth alook 570k tons of copper 1.6moz gold

1.7c per share market value 22mill

[STRAT]

PARTY TIME started on the 13th December :)

Copper hits record high (http://www.marketwatch.com/story/gold-gains-as-dollar-losses-ground-2010-12-21?dist=afterbell) Market Watch 21/12/2010.

Copper broke through its primary resistance (4.06/ 4.08) on 13 Dec and has reached a 4.29 intraday high today....this is blue sky territory with primary support at 4.08Hi Hoop. The big questions are how long will it last and who is pushin it up eh?

This from here

http://m.theaustralian.com.au/OpinionNews/pg/0/fi232601.htm

COPPER'S too tight, according to the analysts at BNP Paribas in London. The red metal finished at a heady $US9070 a tonne on Friday, but BNP produced a couple of interesting figures. You could buy all the copper now in London Metal Exchange warehouses for a little more than $US3 billion, which is not a lot of money when you're talking international speculation.
Earlier this month, it was reported by The Wall Street Journal, and several London newspapers, that JPMorgan had grabbed half the LME copper stock for about $US1.5bn. This set the internet metals sites afire with speculation. But last week, according to a Reuters report, JPMorgan denied it had amassed a large copper forward position. Yet LME data shows that 90 per cent of all the copper in its warehouses and cash contracts is controlled by a single entity. The interesting thing about JPMorgan's denial is that it only said it did not hold 90 per cent -- but would not provide any comment on whether it had a dominant position.

[shasta]

Hi Hoop. The big questions are how long will it last and who is pushin it up eh?

This from here

http://m.theaustralian.com.au/OpinionNews/pg/0/fi232601.htm

COPPER'S too tight, according to the analysts at BNP Paribas in London. The red metal finished at a heady $US9070 a tonne on Friday, but BNP produced a couple of interesting figures. You could buy all the copper now in London Metal Exchange warehouses for a little more than $US3 billion, which is not a lot of money when you're talking international speculation.
Earlier this month, it was reported by The Wall Street Journal, and several London newspapers, that JPMorgan had grabbed half the LME copper stock for about $US1.5bn. This set the internet metals sites afire with speculation. But last week, according to a Reuters report, JPMorgan denied it had amassed a large copper forward position. Yet LME data shows that 90 per cent of all the copper in its warehouses and cash contracts is controlled by a single entity. The interesting thing about JPMorgan's denial is that it only said it did not hold 90 per cent -- but would not provide any comment on whether it had a dominant position.

I wouldnt have thought you techies would care what was kicking its tyres, dont you lot jump on & ride it blindly? ;)

[Oiler]

I wouldnt have thought you techies would care what was kicking its tyres, dont you lot jump on & ride it blindly? ;)

hahaha good point Shasta :p

[STRAT]

I wouldnt have thought you techies would care what was kicking its tyres, dont you lot jump on & ride it blindly? ;)LoL

Hey Shasta.

Now. Thats what I would have you believe and in many cases its true but while keeping with the truth Im the first to admit I use the FA of other fine fellows such as yourself and G to help select targets and I always do my best to keep an eye on the Macro. In particular the dirty dark side of Macro and all associated lies, deciept and all round bull****. Its not an even playing field out there and one must have ones wits about one at all times eh?

But you knew all that already eh? :D

[shasta]

LoL

Hey Shasta.

Now. Thats what I would have you believe and in many cases its true but while keeping with the truth Im the first to admit I use the FA of other fine fellows such as yourself and G to help select targets and I always do my best to keep an eye on the Macro. In particular the dirty dark side of Macro and all associated lies, deciept and all round bull****. Its not an even playing field out there and one must have ones wits about one at all times eh?

But you knew all that already eh? :D

I couldnt help myself, of course the most successful of investors/traders use BOTH TA & FA :)

[STRAT]

I couldnt help myself, of course the most successful of investors/traders use BOTH TA & FA :)I agree. Im average at the first and hopeless at the latter but fortunately I know a few fellows who are good at it. Many of them are right here on ST.

Ive said it before but the single most important factor in my reasonable success over the last few years has been to get out and stay out when the going gets tough. Timing that requires both. No doubt in my mind about it.

I strongly suspect Copper is being played with by those at the top of the pile. If thats true there will be some crumbs filter down for us bottom feeders

[shasta]

I agree. Im average at the first and hopeless at the latter but fortunately I know a few fellows who are good at it. Many of them are right here on ST.

Ive said it before but the single most important factor in my reasonable success over the last few years has been to get out and stay out when the going gets tough. Timing that requires both. No doubt in my mind about it.

I strongly suspect Copper is being played with by those at the top of the pile. If thats true there will be some crumbs filter down for us bottom feeders

For the benefit of others

Trackers asked about mid tier copper producers

PNA - Also has plenty of gold (& a near term gold & silver project)

EQN - Also has uranium production (on a small scale)

Like Copper, Gold & Uranium are seemingly all moving in the right direction

[STRAT]

Trackers asked about mid tier copper producers

Im on the look out for potentually hot tiddlers :eek2:
Smalls and Micros

[stevo1]

Strat you may want to run your rule over AZS (Aussie tiddler in Mexico) and GSE (micro cap) all the usual risks with junior miners.I hold both so obviuosly somewhat bias but there could be very good future returns there.
But then again could just be another couple of also rans.

[trackers]

Thanks Shasta, JBMurc will check those out... On first glance GCR looks fantastic...?

There's still decent returns to be made from mid caps. Almost up 100% on YTC already and their rerating could go on (though I'm out of that for now)

[STRAT]

Strat you may want to run your rule over AZS (Aussie tiddler in Mexico) and GSE (micro cap) all the usual risks with junior miners.I hold both so obviuosly somewhat bias but there could be very good future returns there.
But then again could just be another couple of also rans.Thanks Stevo. Will take a look

[shasta]

Thanks Shasta, JBMurc will check those out... On first glance GCR looks fantastic...?

There's still decent returns to be made from mid caps. Almost up 100% on YTC already and their rerating could go on (though I'm out of that for now)

Macduffy wont like the fact i was remiss & didnt mention OZL (who have a stake in SFR) as another mid tier Copper play

[macduffy]

Hi shasta.

Yes, I still like and hold OZL although at around $1.75 and with a M/Cap of $5.6b it might be getting a tad expensive, even with copper at record levels.

Another copper stock, although not a producer for some time yet, is Rex Minerals - RXM. Their big asset is the Hillside project on the Yorke Peninsula, SA. The greater area, known geologically as the Gawler Craton, is home to such well known names as Olympic Dam and OZL's Prominent Hill. In fact, it's the proximity to PH which is a big part of the attraction, to me at least, bearing in mind that OZL have all that cash to spend on an acquisition - perhaps.

The Hillside project has an Inferred Mineral Resource of 1.2 mt of copper and 1.1 moz of gold. RXM intend to spend the next 12 months drilling to expand the resource towards its target of between 1.5 mt to 2.8 mt with a scoping study planned in 2011 leading to Feasibility Study in 2012. The company recently raised $85m by issuing 17m shares at $2.50 so has the funds in hand for 2011 work.

The SP has been pretty strong, as to be expected with the PoC doing its thing. Now around $2.85. With only 150m shares on issue and a M/Cap of $434m it would be a nice acquisition for OZL if shareholders could be persuaded to sell. Perhaps a combination OZL shares/cash might be a possibility.

All speculation on my part but I might have to have a small dabble...........

[Hoop]

Hi Hoop. The big questions are how long will it last and who is pushin it up eh?....



No idea as to how long it will last Strat....or as to who are the players in the skulduggery game.. I need Wikileaks knowledge to know that as I don't trust the media...:mellow:
I've invested in the copper game since December 2008..(all being through ASX copper companies. I've been kicked out (using TA) a few times but got back in again.

Worried about bursting bubbles...nah...TA will tell me when the tide will turn on Copper, and it will turn at some point of time as uptrends don't last forever however ...it could last for years or it could end tomorrow....so I will enjoy the ride while I can.

The copper companies I have looked at..bought/sold and have on my watchlist are those mentioned on the ASX copper index
ABY BHP BOC CDU EQN EXS HGO IRN JML KZL MGO OZL PNA RIO SRL

Also dabbling in and out of small explorers....

My knowledge of copper mining and exploration is not much,,,I let the charts tell the story...
buying in uptrends seems a good idea...eh Shasta :);)

[Hoop]

When time allows it is always a good idea to go back in time to check out how those past articles looking towards the future turn out.

MoneyWeek is a respectable site so when someone writes an article you take notice of it. Unfortunately this is one article that David Stevenson will regret writing about Copper.

David Stevenson's (DS) article looks plausible and you could not argue the methods he used to deduce that the future for Copper is not a rosy one...so...what went wrong???

David Stevenson made a vital error of allowing the past to create a mental bias, he then selectively applying all of those economic/market principles he could find to fit that bias and gave little to no attention to the other economic/market principles that didn't fit his bias...thus he created false logic.

Media is full of false logic...the hot topic atm is the possible demise of the US economy.

Interestingly.... the chart below using simple trend TA saw that DS's base metal article was using false logic
Interesting,,,huh.


Why the base metal rally won't last (http://www.moneyweek.com/investments/commodities/why-the-base-metal-rally-wont-last-14707.aspx)

By Associate Editor David Stevenson (http://www.moneyweek.com/about-us/the-moneyweek-team/david-stevenson.aspx) Apr 03, 2009


http://i458.photobucket.com/albums/qq306/Hoop_1/spot-copper-5y-07012011.gif

[macduffy]

Macquarie raises copper price forecast.

http://www.theaustralian.com.au/business/mining-energy/macquarie-raises-copper-price-forecast/story-e6frg9df-1225990232531

[macduffy]

OZL quarterly report - Budgetted production exceeded; record gold and copper prices.

http://asx.com.au/asxpdf/20110120/pdf/41w8jyyf13650n.pdf

[macduffy]

The expected good result from OZL.

Announcement includes the - also expected - capital repayment, a modest buyback and a capital consolidation.

Still plenty of cash in the kitty though for the right acquisition in due course.

http://asx.com.au/asxpdf/20110209/pdf/41wnykvnc3cqc0.pdf

[RRR]

Good outcome for investors after a long wait!! Some analyst described OZL situation in the past as 'near death'-very true. Averaging down has been beneficial for me with OZL. But they dont like small shareholders(costly for them) and tried to get my shares(and other small investors) for cheap not so long ago-cheeky, 80% appreciation since then. Capital consolidation is to keep small investors away!

Disc- Holding and enjoying the ride

[macduffy]

Capital consolidation is to keep small investors away!


There's certainly an element of that and can't say I blame them with over 3 billion shares on issue!

Better to be positioned nearer the more respectable end of town with miners such as BHP, RIO, NCM etc!

[Huang Chung]

Zambezi Resources (ZRL) could be interesting. They are waiting on the issue of a mining permit from the Zambian Government. Share price has run a little on the expectation that the permit will be granted. In a reply to the exchange yesterday, they said that they had recieved word that the permit would be granted, but it still needs to be ratified, so management weren't yet prepared to go to the market saying the permit had been granted. Ratification was supposed to happen today, so potentially we could get official confirmation tomorrow (assuming nothing goes wrong).

193,000 tonnes of contained copper, and lots of ground yet to be covered.

I bought a small parcel the other day at 2.2c, purely as a punt, which seems will pay off. I topped up today at 3.6c, which was about the lows for 95% of the day, the share price weakening to 3.4c in the last 10min or so of trade.

http://stocknessmonster.com/news-item?S=ZRL&E=ASX&N=521629

http://stocknessmonster.com/news-item?S=ZRL&E=ASX&N=523822

http://stocknessmonster.com/news-item?S=ZRL&E=ASX&N=528347

[drillfix]

Hi Huang,

Yeah nice little ride from 2.3c myself, but took the dosh off the table as it seems to me there was not enough conviction here, as in I am beginning to feel some of the price may be already factored into the previous move.

Would have thought it may have made a Higher High, but it failed to do so.

RSI is over 75 and now Williams %R now looking like it may punch through to a down move, but I guess it depends how it trades tomorrow.

A little bit of caution while Friday tomorrow, XAO sitting on 5001

Maybe some bargains to be had at the end of the day tomorrow if there is a sell off, but that also may lead to more falls on indicators which could drag it down even further so it may need a breather.

[Huang Chung]

Thanks for your thoughts Drilly.

Today was a bit disappointing, but the dump was really only in the last 10 minutes of trade. Not really sure what that tells you. Most of the day it traded between 3.6c and 3.8c.

If the mining permit comes through, I reckon any shares picked up around the current price will be sound buying if you take a medium term view.

[drillfix]

Yeah HC it was a tad dissapointing,

If and when the permit comes through, how long after that will it be before anything actually happens though? I mean, dont shareholders have to approve it and then when they do, there is a period of time of somewhat to get other arrangements up to speed and sorted?

I guess I am asking what time window do you believe this would be?

[Huang Chung]

It certainly won't be a short time frame, but I would see a shareprice rerating as we move forward.

First things first though, and that's getting the mining permit.

[macduffy]

Foster Stockbroking's picks for copper.

http://www.theaustralian.com.au/business/mining-energy/copper-roars-back/story-e6frg9ex-1226006236038

[impacman]

Thanks macduffy. See Pan Aust is once again geting good coverage The have been doing nicely since the GFC - where they almost came unstuck - dispite much dilution SP has moved steadily from low 20's (or even less for a while there) to where they are now - 85c. Have been holding for about 20 months and quite content to continue doing so - still think there is a bit left in them.

Cheers,

I-man

[Hoop]

http://i458.photobucket.com/albums/qq306/Hoop_1/Copper03052011-1-1.png

[Hoop]

Copper is often seen as a global economic indicator...it also has periods when it correlates well with the Equity Markets confirming either strength and weaknesses of market cycles and their trends.
The chart below is sounding a caution warning

http://i458.photobucket.com/albums/qq306/Hoop_1/Copper5yr30052012.gif

[Hoop]

Update:

Copper continues to break down. With the recent fiscal easing news in Europe, Copper still failed to break out of its downtrend (failed retest) indicating a worsening Global economy.

http://i458.photobucket.com/albums/qq306/Hoop_1/Copper06072012.gif

http://i458.photobucket.com/albums/qq306/Hoop_1/Copper0607201260day.gif

[geezy]

Anyone looking at SMD ?

Its fallen from its high of 20s to now at only 7s..

[tricha]

I think Dr Copper is going to decouple from what we percieve as an indicator of growth.

Copper deposits are getting lower in grade, the easy stuff is gone, like oil. and I believe it is " the metal" of the future.
The future is electricity, as oil gets more expensive.

Electric vechicles everywhere, solar power everywhere, and masses of copper, required.
And the continued expansion in Asia and India.

The old saying was, nothing moved without oil, the new saying might be, nothing will move with out copper.


I dipped my toes today in OZL. I have been searching for a cheap copper company. They are extremely rare.
I am still searching, but I think I need to hurry. Does any one have any ideas?

I had a look at SMD Geezy, you never know, look what happened with SFR:t_up:



If you look at the picture below, it tells a story.


http://www.kitconet.com/charts/metals/base/lme-warehouse-copper-5y.gif (http://www.kitcometals.com/charts/copper_historical_large.html#lmestocks_5years)

[macduffy]

Hi tricha.

It's not a producer - and won't be for at least three years - but have you looked at Rex Minerals - RXM? Their Hillside project, 150 km from Adelaide is the largest undeveloped copper resource in Australia, or so they say. Have a look at their July presentation if you havn't already - it gives a good rundown on the copper scene as well as info about the company.

As for "cheap" copper companies, OZL must be getting into that category at current prices. I keep an eye on RXM partly as a possible target for OZL who are still on the lookout for something to spend their cash on. RXM with a MCap of $127.5m doesn't look to be beyond their reach if they decide it's good enough.

http://www.asx.com.au/asxpdf/20120731/pdf/427q5flmtgl9pp.pdf

[whirly]

Tricha Have a look at MNC Metminco, it has been sold down relentlessly after TKG did an in specie distribution of 70 million shares in May to remain solvent.

Metminco’s premier project is the Los Calatos copper and molybdenum porphyry deposit located in southern Peru, near and in a similar geological setting to three large existing copper-molybdenum porphyry mines. The estimated mineral resource at Los Calatos as of April 2012 is 2.32 billion tonnes comprising Indicated Resources of 885 million tonnes at 0.42% Cu and 270ppm Mo and Inferred Resources of 1,432 million tonnes at 0.40% Cu and 180ppm Mo, at a 0.2% copper cut-off grade. The phase 4b infill drilling program, which includes some 70,000 metres of drilling, is currently in progress with the object of upgrading that portion of the resource which falls within a potential open pit.

As at 30 June 2012, Metminco had cash reserves of approximately A$32.3 million.

Proposed work program
The revised Phase 4 drilling program is scheduled for completion in early Q3 2012, following which the Company will announce an updated JORC Mineral Resource Estimate. This resource update will be followed by the commissioning of a pre-feasibility study in early 2013.

Savings on Drilling Costs: Due to consistent drill results enabling a better understanding of the geology, the Phase 4 drilling program has been trimmed from 100,000m to 61,000m, thereby saving approximately US$12million in the current year.

DYOR Whirly

[whirly]

Metminco ASX ANNOUNCEMENT
13 September 2012
INVESTOR UPDATE
HIGHLIGHTS
Los Calatos
 Phase 4 drilling program to be completed in early October 2012
 Updated mineral resource estimate to be completed in December 2012
 Independent report on optimal mining scenarios to be completed by year-end
Funding
 Cash position as at 31 December 2012 forecast to be in excess of US$14 million
 Key value drivers for Los Calatos, Mollacas and Vallecillo are funded into 2013
 Revised exploration and development programs have mitigated the need to raise additional equity from capital markets during 2013
 Funding strategies for the development of Los Calatos being evaluated

[tricha]

Hi tricha.

It's not a producer - and won't be for at least three years - but have you looked at Rex Minerals - RXM? Their Hillside project, 150 km from Adelaide is the largest undeveloped copper resource in Australia, or so they say. Have a look at their July presentation if you havn't already - it gives a good rundown on the copper scene as well as info about the company.

As for "cheap" copper companies, OZL must be getting into that category at current prices. I keep an eye on RXM partly as a possible target for OZL who are still on the lookout for something to spend their cash on. RXM with a MCap of $127.5m doesn't look to be beyond their reach if they decide it's good enough.

http://www.asx.com.au/asxpdf/20120731/pdf/427q5flmtgl9pp.pdf

I had a look recently, grades are not the greatest. But ........, I will have another look Macduffy. You r right a target for OZL.

As far as MNC Metminco goes Whirly, not for the faint hearted. A gambling stock. Risk verus reward.
Grades are not great and high soverign risk.

[Minerbarejet]

Anyone looking at AOH? Currently producing in Finland and involved with the Roseby area in Aus. Its a combo of Vulcan and Universal .They keep finding cu and au. Bouncing about between 27 and 32. Any thoughts? :confused:

[macduffy]

Thanks for the reminder, major.

I've had AOH on my "maybe" list for a while and really just waiting to see some interest in the stock reflected in price and volume. It seems that Xstrata are going ahead with their option to buy into the Roseby project and as no announcement as to price within the stipulated 30 days I assume this means it's going to independent valuation. AOH have previously signalled that a decision on the Little Eva mine ( part of Roseby) would be made in the second half of 2012. So, a wait and see, for me.

[tricha]

Hi tricha.

It's not a producer - and won't be for at least three years - but have you looked at Rex Minerals - RXM? Their Hillside project, 150 km from Adelaide is the largest undeveloped copper resource in Australia, or so they say. Have a look at their July presentation if you havn't already - it gives a good rundown on the copper scene as well as info about the company.

As for "cheap" copper companies, OZL must be getting into that category at current prices. I keep an eye on RXM partly as a possible target for OZL who are still on the lookout for something to spend their cash on. RXM with a MCap of $127.5m doesn't look to be beyond their reach if they decide it's good enough.

http://www.asx.com.au/asxpdf/20120731/pdf/427q5flmtgl9pp.pdf

Hi Macduffy, I have dipped my toes, with copper grades dropping worldwide. I'm betting copper will get tight as it is the metal for the future.
They have a pretty big resource and a huge exploration upside.

The beauty of it is, they are close to infrastructure. Mining costs are so much lower.
If it was in the wop wops, I would not buy.

[macduffy]

Tim Treadgold raises the interesting question of whether SFR might go from being the quarry to the prey.

Personally, I doubt it - but stranger things have happened.

http://www.eurekareport.com.au/article/2012/9/19/base-metals/bid-copper-pipeline?utm_source=exact&utm_medium=email&utm_content=105424&utm_campaign=Wednesday&modapt=

[RRR]

Thanks Macduffy - I think the author is spreading rumors and nothing more. I find it ridiculous to believe that SFR which just started earning dollars would bid a for a company twice it's size. OZLs history would remind them how dangerous it is.

[tricha]

Tim Treadgold raises the interesting question of whether SFR might go from being the quarry to the prey.

Personally, I doubt it - but stranger things have happened.

http://www.eurekareport.com.au/article/2012/9/19/base-metals/bid-copper-pipeline?utm_source=exact&utm_medium=email&utm_content=105424&utm_campaign=Wednesday&modapt=

Bid in the copper pipeline?


Tim Treadgold (http://www.sharetrader.co.nz/contributor/tim-treadgold)19 September 2012


Hmm, his memory is short, if he can not remember ziniflex and their foray into nickel. AGM: ZFX: Zinifex Offer for Allegiance Mining (http://www.sharetrader.co.nz/news-item?S=AGM&E=ASX&N=485982) The same has happened to Panaroma recently, blown their lifeline on buying non producing assets, which will cost hundreds of millions to get running, when the nickel price is to low to earn.

He is right on one aspect though and that is copper.
"The numbers tell the story.
Copper has risen from $US3.30 a pound in mid-June to hit $US3.80 a pound late last week. It is currently trading at $US3.75/lb.
The stockpile of copper on the London Metals Exchange is down significantly over the same period, perhaps being offset by a rise in warehoused metal in China, though accurate data on Chinese copper is not available."

[macduffy]

Ye, I think it more likely that someone will make a bid for one of the companies with undeveloped resouces such as:

RXM - I have a few.

AOH - Roseby project - now that Xstrata is taking up the option to buy in.

HAV - for its Kalkaroo project.

[tricha]

Ye, I think it more likely that someone will make a bid for one of the companies with undeveloped resouces such as:

RXM - I have a few.

AOH - Roseby project - now that Xstrata is taking up the option to buy in.

HAV - for its Kalkaroo project.

You are probably right Mac Duffy, someone will make a bid.

I have gone over HAV and CDU. They do not compare to RXM's potential, with location and grade.
I'm picking copper will be between $4 and $5 in a very short space of time.

Then we shall see what happens to RMX.

[Joshuatree]

SGQ St George Mining int little spekky ,Cu and Nickel(jv with BHP for Ni only) mkt cap re $10million

[tricha]

SGQ St George Mining int little spekky ,Cu and Nickel(jv with BHP for Ni only) mkt cap re $10million

I think SGQ is gold\nickel, not much to do with CU Joshuatree.

Be greedy when others are fearful.

The market is presenting a good opportunity to get some discounted copper companies. Unlike iron ore and coal, which still litters Australia's landscape.
Copper supply is declining, consumption is increasing and all the high grade, easy to get stuff is disappearing.
Developing countries will need truck loads of the stuff to keep developing.
Then we have electric cars and solar systems expanding rapidly. It's all positive for CU, there is no easy alternative.


http://www.kitconet.com/charts/metals/base/lme-warehouse-copper-5y.gif (http://www.kitcometals.com/charts/copper_historical_large.html#lmestocks_5years)

http://www.kitconet.com/charts/metals/base/spot-copper-5y.gif (http://www.kitcometals.com/charts/copper_historical_large.html#5years)

[yabster]

Glanced at KDR tricha? low mc and some good grades.

[Joshuatree]

Bugger, Apologies,:D you're right

[tricha]

Glanced at KDR tricha? low mc and some good grades.

Yabster yes some good grades and you never know, could it be the next Sandfire?

A gambling stock and after a few intercepts, the management have put their hands up for more cash raising.
Toss a coin.

I am sticking to OZl ( hold 20% of Sandfire) and RXM.

On a bright note, copper is looking exceptional good, stocks are low and prices are up there.
Even if the economy does not recover, a good copper company will do well.
Unlike iron ore and coal, whick I think will be a poor performer for a very long time.




http://www.kitconet.com/charts/metals/base/spot-copper-5y.gif (http://www.kitcometals.com/charts/copper_historical_large.html#5years) http://www.kitconet.com/charts/metals/base/lme-warehouse-copper-5y.gif (http://www.kitcometals.com/charts/copper_historical_large.html#lmestocks_5years)

[macduffy]

This is a bit scary, tricha, but I hold the same view on copper and hold the same copper stocks as you, OZL and RXM. I added a few more RXM last week but really waiting for some movement in the SP to tempt me beyond the token holding stage. I still think that OZL is the best value in Cu but the market doesn't like them holding on to all that cash, presumably thinking OZL will miss out on buying something that they should! Like the rest of SFR? Or perhaps HAV's Kalkaroo deposits?

I may still have to have another look at OZL, nevertheless.

[macduffy]

Interesting headline here from The Australian.

http://www.theaustralian.com.au/business/mining-energy/aceh-copper-gold-find-rivals-bougainville/story-e6frg9df-1226490958976

I'm not a subscriber so don't know the detail but it rang some old bells.

- Bouganville Copper - BOC - remains probably the richest copper mine in the world - last production 15 May 1989! Rumours of settlement of the dispute and plans to resume mining (practically from scratch) swirl from time to time and the co still commands a SP of around 75c.

- Owen Hegarty was, of course, CEO of Oxiana - now OZL - at the time of their near death experience. Famous for his oft quoted "stronger for longer" in respect of Australia's mining boom. But not to be ignored, I would think.

[tricha]

This is a bit scary, tricha, but I hold the same view on copper and hold the same copper stocks as you, OZL and RXM. I added a few more RXM last week but really waiting for some movement in the SP to tempt me beyond the token holding stage. I still think that OZL is the best value in Cu but the market doesn't like them holding on to all that cash, presumably thinking OZL will miss out on buying something that they should! Like the rest of SFR? Or perhaps HAV's Kalkaroo deposits?

I may still have to have another look at OZL, nevertheless.

Scary no, OZL is a no brainer, especially with the strenghten of the copper and gold prices.

RXM are starting to make things happen, as far as production goes, securing water. As we know its a perfect fit for OZL, time will tell as always.

I think we are on the right track Mac Duffy

[tricha]

Copper is holding up extremely well, unlike other metals. Where will it go, only time will tell, but 1 thing for sure is with oil becoming more expensive.,

Copper will be in greater demand.

So companies like OZl will do ok.

Where is the next find like.



SFR
Sandfire Resources NL,



I wish I knew, OZl hold 20%, a blocking stake.

Copper Shenanigans from BeijingBy Richard Mills (http://www.financialsense.com/contributors/richard-mills)10/12/2012


http://www.financialsense.com/contributors/richard-mills/copper-shenanigans-from-beijing

[tricha]

CU Copper is a super metal, as oil prices increase, so will copper.

Nothing will move without it, it's so simple.!

BHP Billiton sets its sights on copper after assessment of bull market
BHP Billiton has been wining and dining analysts on a tour of its copper assets, telling them that it expects to be producing an additional 350,000 tonnes of the red metal from 2015.

Olympic Dam in South Australia is not part of BHP's copper expansion plans for the simple reason that its $30 billion price tag is too expensive, even for the likes of BHP. But expanding in copper BHP is, with the additional output to come from the South American and US mines in its portfolio.

[Hoop]

http://i458.photobucket.com/albums/qq306/Hoop_1/OILOZYCOPPER.png (http://s458.photobucket.com/user/Hoop_1/media/OILOZYCOPPER.png.html)

[Stranger_Danger]

Oil up, copper down. That's not bullish.

[tricha]

Oil up, copper down. That's not bullish.

thats what u would call, Danger pending

That the very reason why I predict another recession coming in the next 6 months.
Copper being a key indicator of world economic health.
Oil is to high ? Bleeding everyone dry. Consumer spending drops.

lets all hope these trends reverse soon.
peak oil in play.

[Hoop]

So who's talking porkies these last couple of years???

Media saying the global economy is slow outside USA but no worries as it will recover from here
or
Dr Copper who says the global economy is worsening.

The only comments from the chart below is the May 2010 long term support line (not shown) got busted today...so the long term downtrend continues with lower highs and lower lows...

http://www.kitconet.com/charts/metals/base/spot-copper-5y-Large.gif

[BFG]

So who's talking porkies these last couple of years???

Media saying the global economy is slow outside USA but no worries as it will recover from here
or
Dr Copper who says the global economy is worsening.

The only comments from the chart below is the May 2010 long term support line (not shown) got busted today...so the long term downtrend continues with lower highs and lower lows...

http://www.kitconet.com/charts/metals/base/spot-copper-5y-Large.gif

Copper is always seen as the bearer of good/bad news (and is usually right, hence the name).

I'm not liking this trend...

[Daytr]

I mixed on copper. Hedge funds have gone after it because everything else is off except gold of course.
So copper was next cab off the rank.
I believe there is now a massive short position & the surplus in copper is tenuous.
Unlike iron ore I think China's demand will continue to grow as they become a more services & consumer based economy.
I'm eying up some buys.

[Daytr]

Did anyone jump in? I went large on OZL on Friday.
Copper now up 2 days in a row, combine that with gold it should he a sweeeeeet Monday !

[Daytr]

From a Mitsui report.

LME copper stocks continued to rise, edging higher on Friday by 675 tonnes to 248,125 tonnes. They have jumped 40 percent so far in January.

[BFG]

From a Mitsui report.

LME copper stocks continued to rise, edging higher on Friday by 675 tonnes to 248,125 tonnes. They have jumped 40 percent so far in January.

Bottom has been found???

[Daytr]

I would suggest it goes lower.
Data from the US is weakening, China the same.
Chinese hedgefunds have been shorting copper!
Says something to me.
I'm not hugely bearish, but I think copper can go below $5k/ton even perhaps $4500.

[BFG]

I would suggest it goes lower.
Data from the US is weakening, China the same.
Chinese hedgefunds have been shorting copper!
Says something to me.
I'm not hugely bearish, but I think copper can go below $5k/ton even perhaps $4500.

Hmmm, don't know if it will. We will see this week if the US data recovers a bit. Still mid-winter so maybe not. I see copper took two huge steps down on that Chinese shorting Daytr. Remind you of another commodity chart from 2013 that then recovered afterwards? ;)

http://www.kitco.com/charts/popup/au1825nyb.html

[Daytr]

Yep but that wasn't the Chinese shorting gold which is what I assume you are referring to that was Western hedgefunds.
Remember China is the biggest consumer of copper by far.
So why are Chinese hedgefunds shorting?
From what I have heard they have covered but may look to come back post Chinese NY.
What is the bullish argument when stocks are rising?
Last year China stock piled 400k tons of copper, this year its predicted it will be half that number.

[BFG]

Looks like the US is still slowing down a bit

http://www.kitco.com/news/2015-02-02/ISM-US-Manufacturing-Index-Drops-To-53-5-In-January.html

[BFG]

Looks like the market is pinning hopes on a China stimulus situation as copper powers back above $2.50 p/lb.

http://www.bloomberg.com/news/articles/2015-02-02/industrial-metals-slide-after-china-s-factory-activity-contracts

[Schrodinger]

Looks like the market is pinning hopes on a China stimulus situation as copper powers back above $2.50 p/lb.

http://www.bloomberg.com/news/articles/2015-02-02/industrial-metals-slide-after-china-s-factory-activity-contracts

Yep going long now is potentially a good option. Held OZL for some time now with a view to getting in at the bottom of the cycle. Will be interesting to see where this one goes.

[BFG]

Yep going long now is potentially a good option. Held OZL for some time now with a view to getting in at the bottom of the cycle. Will be interesting to see where this one goes.

The depreciating AUD can only help those companies reporting in AUD ;)

[Daytr]

Moosie, what are you talking about?
It hasn't cracked $2.50 & is hardly powering ahead...
You obviously know my view, so no pint repeating it.
Good luck guys.

[BFG]

Moosie, what are you talking about?
It hasn't cracked $2.50 & is hardly powering ahead...
You obviously know my view, so no pint repeating it.
Good luck guys.

Spot price currently soaring 3%+ to $2.5922. Futures will follow in step tonight.

http://www.kitcometals.com

[Daytr]

Yeah I saw that after I posted.
No one actually uses a spot price for copper.
Its the 3m price that's the copper bench mark, so that's the price for May.
If you asked most traders what the spot price for copper was they wouldn't even know the answer, they would calculate it back from the 3 month price & in fact that's how it is calculated.
So actually Futures dictate the spot price, not the other way around.

[BFG]

Yeah I saw that after I posted.
No one actually uses a spot price for copper.
Its the 3m price that's the copper bench mark, so that's the price for May.
If you asked most traders what the spot price for copper was they wouldn't even know the answer, they would calculate it back from the 3 month price & in fact that's how it is calculated.
So actually Futures dictate the spot price, not the other way around.

I duly look forward to what the spot price will be tomorrow morning. No doubt it will be higher than $2.50. Must be really packing those empty warehouses today :)

[Daytr]

Much higher & even the 3 month is now around $2.56/Lb !
I would suggest this purely speculative interests covering before Chinese NY & others going long on the hope stimulus in Europe & perhaps China creates demand. The data including stocks is telling me otherwise.

[Daytr]

Can't teach an old moose new tricks huh! :cool:


I duly look forward to what the spot price will be tomorrow morning. No doubt it will be higher than $2.50. Must be really packing those empty warehouses today :)

[h2so4]

Much higher & even the 3 month is now around $2.56/Lb !
I would suggest this purely speculative interests covering before Chinese NY & others going long on the hope stimulus in Europe & perhaps China creates demand. The data including stocks is telling me otherwise.

I'd go with it copper at 2.56 is cheap but I'm not a trader.