Copper Company?

[Hoop]

[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

[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.

[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



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

[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/2012073...5flmtgl9pp.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/2012073...5flmtgl9pp.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?