Thinking about how close KGL are with moving toward production have been a little worried about the risks of Cu price sliding in the interim. Have been wondering about how far the price of copper has to run as a cap on how things turn out yet for Hillside. Found this article quite interesting
https://www.mining.com/web/coppers-spike-stirs-alarm-over-another-rush-to-find-substitutes/
If Cu substitution is not going to kick in seriously until we get to USD$12K per metric tonne and lets expect there will need to be an over shoot for the short while where the change is being made, the the current USD$10K circa price still has plenty of room to run, as the supply squeeze continues to grow. And with Aluminum surging there is also the case where demand for Aluminum just saps up Aluminum supply and current Aluminum price increases prevent substitution of copper with slowing growth of Cu/Aluminum ratio.
All in all my gut feel is that Cu price remains underwritten by supply shortages which should grow without any initial risk of mass substitution.
Now we just need a couple of interesting drill holes in August in the big targets and 70 cents might lose change. Here's hoping.
AIMHO DYOR
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