AVM 0.00% 2.0¢ advance metals limited

qty, page-2

  1. 283 Posts.
    Cheers for the info Whitelight. In other news, I was reading the latest issue of the weekly UK magazine moneyweek and came across the following article. This info is all over the place but its nice to get the odd reminder that we really are onto something. I bought a bunch more at $3.18 to get my average price down and I'm glad I had the confidence to do so. Plenty of real gains still to come with this company, as the SX EW plant comes online and I can't see the copper price coming down in the short term.

    "Fed?s paper flood will raise copper"

    News of a fresh batch of quantitative easing (QE) from the US Federal Reserve looks to be good for commodities markets in general. But if you do take a punt on Ben Bernanke?s
    money-printing, at least go for a commodity that?s backed by genuinely bullish fundamentals. Copper is one of the ones that best fits the bill.

    Supply remains tight. The International Copper Study Group reported a deficit in the first seven months of the year
    totalling 356,000 tonnes. Jeremy Gray, global head of resources at Standard Chartered, tells Bloomberg that demand will outstrip supply until at least 2013, because ?all but two of the 81 copper mining projects due to start by 2016 stalled after the 2008 financial crisis?. Another strike at Chile?s Collahussi mine will pile on the
    pressure ? the mine produces 3% of the world?s copper. Inventories at the London Metals Exchange are already
    suffering the effects: last week, stocks fell to a one-year low, having hit eightyear highs as recently as February.

    The arrival of two new physically backed exchange-traded funds (ETFs) from JP Morgan and iShares will put yet more pressure on supply. Consumption of a range of metals in the West may be muted due to a property slump (copper is a key
    construction metal), but for now the copper bull remains intact. Production shortages, not US dollar weakness, will
    drive the price still higher.
 
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Mkt cap ! $2.708M
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4 284547 2.0¢
 

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2.6¢ 240382 1
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