PJL mate just to bring you up with Copper storage, and supply warehouse. Up until recently, the copper in storage LME was only 3 days supply. Now blown out to 14 days. So at present, there is an oversupply of Copper in the storage of 400%. China's consumption slowed to a snail's pace and supply is now 400% above demand. See Copper under $US3.00 shortly. That’s why the disparity in the price forecast between JP Morgan and Goldman. As for Musgrave West saving the baby at 0.6% Cu is $2.07 per pound. Forecast costs per pound from OZL are $2.06c per pound. OZL based on all things now, expenditures coming, debt for WM @ $1.3b Cu grades dropping, costs increasing, oversupply copper, current cash position dropping by $95m, divvies delivered pennies OZL teetering in the edge in my opinion, and $10 per share is overvalued. Let’s see in March 2023 how close I am.
OZL Price at posting:
$24.20 Sentiment: None Disclosure: Not Held
