Keeping cool amid the resources hype
Date: 5/5/2008
Author: Jo Clarke
Source: The Australian Financial Review --- Page: 16
CopperCo MD and founder of Straits Resources, Brian Rear, is planning a mergerwith Mineral Securities. He is persisting with his proven diversificationstrategy. Rear is focusing on the platinum-based company as a target in order toprotect his group from the event of a low point in the copper cycle, similar tothat he experienced in the 1990s. Over half of the Lady Annie copperproject's prices were locked in through hedge contracts at $A7,050 pertonne, considerably lower that the current price of $A9,000, but Rear isconvinced that this is unsustainable.
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