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Main ForumW McCrae CDU and timing

  • As we are now nearing the release of news reports of CDU's activities in Hong Kong and CDU's eagerly awaited JORC update I thought it might be a good time to post this article that reflects the mood on copper.

    Copper, king of metals by Barry Sergeant, company news

    Measured over the past 12 months, rolling stock price returns from listed mining specialists have been dominated by broadly-defined copper stocks.

    There are two main reasons explaining this phenomenon, starting with the sharp decline in most commodity prices between mid-2007 and mid-2008. Copper, for one, fell from around USD 4.10/lb to USD 1.25/lb during the second half of 2008, but recovered sharply, in line with most commodities, during 2009, and is now trading up around USD 3.35/lb.

    Even at the lowest levels seen during the closing months of 2008, few genuine copper miners across the world experienced cash losses. It was very different for a number of other miners, which crashed deep into negative cash loss territory, with nickel, aluminium and diamonds among the most aggravated cases.

    The other main reason for the superior rating of specialist copper miners probably resides in the ability of copper miners to make cash, as mentioned, even at the bottom of a cycle.

    There are many other producers, but not too many, and many buyers. In contrast to aluminium and nickel, developments in and around China have had only positive effects on the global copper mining sector.


    IMO: In terms of timing if the WM releases the JORC sooner than latter he will have blitzed it with spot on timing. Having a large China based big brother with very deep pockets with a minority stake won't hurt either. So now we will see.... If I'm right there will be one or more announcements made very soon declaring the buy-in and the JORC.

    (Some of you may remember my posting that this is what I hoped for back in 2007).

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