Barry’s promises, page-16

So another stock I feel I am stuck in is Comet Resources who sparked my attention with their Springvale graphite mine in WA. The reason I mention this other company is that they off loaded this asset to a processor who IPO-ed, and instead put most of their marbles into a Queensland copper mine on care and maintenance, owned by none other than Glencore.

The funding for this April-22 agreement was originally a $50M CR, and this appeared to be scuppered by shareholders. This week the package has been reshaped and is now $27M from Glencore, and it seems reading the threads today more shareholders are in favour of these improved terms.

Taking a peek over the fence at Glencore's latest half yearly, I see that copper at 60% is second only to a major beneficiary of the Russia Ukraine war’s energy commodity bubble, coal, at 66% mining margin. For comparison, nickel is 36%.

Glencore also recognise diminished supply and copper growth in future, so I'm thinking there is wriggle room on our side in the negotiating stakes:

Perhaps Barry is keeping his promises to getting the best for SH, including himself, by swinging behind the scenes for us aiming to get improved terms from Glencore, much like CRL did? I know this is how many of us are feeling about Barry but from one Barry to another let’s channel some weekend love and give him the benefit of the doubt?