Copper should should see a boost in price amongst other base metals due to supply shortages within the next year. If you look at inventory levels it is quite telling where prices must naturally go. Bodes well for future prospects also as exploration investment has been shocking and there is no outlook for supply increases any time soon, the action has mostly been mergers and acquisitions which does NOT increase the supply - it is just moving the books around essentially.
As of 3 days ago AMI felt like it was priced for complete and utter failure. Now the capital raising risk has been all but removed one can only feel a speedy re-rate will ensue. Friday was hopefully just the start. Forgetting the expected gold breakout above $2000 the charts are signalling, those base metals increasing in price will give AMI the legs it needs to value appreciate beyond any short term re-rate on the back of Fridays news. Will we see $1 any time soon? No, but 20-30c is not out of the question.
AMI Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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