Ann: ADDITIONAL COPPER HEDGING FOR TRITTON, page-131

Its amazing a dog turd like COD goes up 50% in a day when it has such poor/average copper drilling results.
Not only very average copper results but also the world's worst management.

Hole 4 1.75m from 405.9 @ 1.48% Cu
1.51m from 434.34 @ 1.83% Cu
Hole 5 1.5m from 351.9 @ 0.7% Cu
  1.28m from 364.85 @ 0.9% Cu

Maybe the market will take more notice of Constellation results in future.


Copper rises above $9,000/t for the first time since 2011

• Base metal prices rose on Monday morning, with LME copper prices climbing as much as 4% as industry in China rushes to expand output following the week long Lunar New Year celebrations.
• As the US, China, EU, UK and beyond all look to roll out their own packages of environmental initiatives, the post-crisis consumption of industrial metals is widely expected to outstrip near-term and medium-term supply.
• Inflation expectations have also helped base metals, with copper prices rising 18% for every 1% in consumer prices since 1992.
• Goldman Sachs reported last week that the copper market is facing the largest deficit in a decade this year, with a high risk of scarcity over the coming months.
• Relief that vaccine programmes are being rolled out across many countries to underpin economic recovery sent all base metals on the LME setting fresh multi-month of year highs (Fastmarkets MB).
• LME volume as of 6.59am London time was super-high at 23,972 lots this morning, compared with a more normal volume at a similar time of day of around 6,000 lots.