Next week, page-4

It seems likely that if copper breaks out then so will AUQ ($3.30/lb vs 3.3c, coincidentally). And judging from trading in copper yesterday, it looks ready. The profit-taking on 52week high was met with renewed demand and a higher close, and the close on alara (allbeit on weak volume) seemed to be in anticipation of this.

With AUQ it's not so much the volumes being traded as the sudden drop in supply, but it is still a sign of optimism over where this is headed. The Omanis may need a week or two more to organize themselves after their religious festivities, but then we should finally see a greenlight to enable all of these agreements that have been lining up. The company is eager to start promoting the story, but there is plenty of time throughout mine construction for that. Not promoting the project is a good problem to have because it reaffirms that capital does not appear to be a problem and brokers aremost likely not being engaged.