significant copper intersected in drilling at, page-86

We're a ways from having to worry about metals prices in reality, but I think it helps sentiment in any sector when the commodities are trending positively.

So, while we head out exploring our elephant huntin' ground (yep, 120 reported significant occurences of Cu and other base metals to date on Spasskaya), maybe picking off and JORCing up a couple of handy high-grade prizes to kick us into production along the way, nice to report last night's positive tone.

Enjoy your weekends, all:



LONDON: Copper rose on Friday as signs of re-emerging appetite for the metal in top consumer China boosted the demand outlook and helped offset concerns over a tapering of monetary stimulus in the United States.

Data showed copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 3.6 percent from last Friday to 156,110 tonnes. China accounts for about 40 percent of global copper demand.

"Copper is definitely not in the kind of surplus that people thought it was. LME and Shanghai stocks are dropping for now, and stocks at (Chinese) bonded warehouses are at relatively low levels," said Natixis head of commodities research Nic Brown.

"You had a bit of carnage earlier this week in a number of emerging markets (because of) the Fed taking away surplus liquidity ... but for copper the focus is more on China."

Benchmark copper on the London Metal Exchange (LME) ended at $7,360 a tonne, up from a close of $7,320 on Thursday.