Hi Guys!
Things at Lumwana going reasonably well in my view. Rainy season has started in earnest here ( Jan/Feb) the wettest months), which cause us difficulties both in the mine and in the process plant.But we will battle through.
Plant ramp up coming on steadily, grades and recoveries reasonable for this stage of the commissioning, power supply becoming more reliable. Steady supply of concentrate being produced.
Meeting, but not exceeding, our budgeted targets for Dec and Jan so far.
Glencore are playing games in my opinion.Diminished sales of copper mean they want to get out of their contractual obligations.
Some suggestions also of Glencore and First Quantum collusion in a possible attempt to drive down the share price in a joint pre takeover bid attack. Have no evidence for this, so classify as Rumour only.
Another in the RUMOUR category is that Xstrata have been buying recently.
Certainly an attempt at a takeover this year is not unlikely.
Copper price a worry.
I'm holding onto my stock.
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