@snout, have you reviewed AUQ ?Copper minnow operating in Oman,...

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mitis

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05/04/24

08:47

Post #: 73199631
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Originally posted by snout: ↑

I have pasted a summary re current copper situation from one of the Perth brokers

“Has the copper rally we have all been waiting for finally upon us?
Copper prices have hit close to a 1 year high at ~US$9,000/t up 3% last night.
Whilst the tightness in the copper concentrate market is even more profound, with Treatments Refining costs (TC/RCs) quickly approaching 0.
Market sources suggesting that a Chinese refinery even offered negative TCRCs.
TC/RCs have plunged due to major expansion in smelting capacity this year, primarily in China but also in India and Indonesia — has also led to increased competition for the dwindling cargoes of mined ore available in the spot market, combined with numerous copper miners downgrading production guidance in the last 12 months (Anglo American, First Quantum Cobre Panama mine.
The copper futures market is showing the largest contango on record of US$105/t for copper delivered in June over the spot price.
Capital for the exploration and development of copper mines peaked at $26.13 billion in 2013. Since then, it has almost halved and remained low, with only $14.42 billion spent in 2022.
Without increased copper supply there will be no decarbonisation of the global economy.”

If interested in copper….Add FFM to your copper watch list, previously known as Auteco
I mentioned them in my gold juniors list earlier, but it is the Green Bay copper project in Newfoundland they purchased recently that is pushing the sp at the mo. Pickle Crow gold project also being developed. If both projects start being recognised and generating value………Bellevue Gold and Northern Star execs driving this one

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@snout, have you reviewed AUQ ?
Copper minnow operating in Oman, just converting from explorer to producer as of now - first production complete and ramping up . MC=$45M
XSO Value at posting: 3,099.2
2 Upvote

0 Great analysis

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