Copper thread

The Secret Broker: Green can mean 'Go', 'No Go', or 'Four pints please and a potted History of Copper' - Stockhead

 

Copper crunch: Stocks have been down for a few months as I predicted whilst China depleted their reserves. They have started buying again now, a couple of months early, can't be early enough.

Copper crunch coming: Guy on Rocks: Copper supply crunch 'to end all supply crunches' is coming - Stockhead

 

Following - I put $1k on COPX ETF few months back as a speccie. Currently down about 10-15%....

 

Going to be a little while for return to ATH - China playing reserve release games, holding back production until at least Feb so it has fake no air pollution for winter Olympics, etc. Copper is a "to 2030" play when all Europe, Asia and eventually USA have said they will not allow combustion engines to be used in vehicles anymore, as well as needed in all forms of renewables.

 

New World Resources (NWC) announced its maiden resource estimate on Friday (Antler deposit in Arizona, USA). It was above what many writers and shareholders expected "At a 1.0% Cu-equivalent cut-off, the maiden MRE comprises: 7.7Mt @ 2.2% Cu, 5.3% Zn, 0.9% Pb, 28.8g/t Ag and 0.18g/t Au (7.7Mt @ 3.9% Cu-equivalent*) • 74% of the maiden MRE has been classified in the high-confidence “Indicated” category, demonstrating the robust nature of the Antler Deposit."

There are now assays for 12 drill holes pending with 9 of those outstanding for almost a month (so should be announced by end of this month). They keep finding more copper. CEO targeting 10-12 mt resource at between 3-4% copper. I think it could be much bigger as they are only now drilling deep below 500m and finding good grades at these depths. A well run company that doesn't overpay directors. I understand that the CEO has also previously got a copper mine up and running. On the downside Perennial Asset Management have been selling down their stake and there are over 1.5 bn shares on issue. Share closed at 8.2c on Friday.

 

Sold out of NWC about 3 months ago, still holding OZMN and SFR. Hope they start to grow in line with copper price soon. Maybe after China winter Olympics and fake clean air dictum?