Not sure about that and to be completely transparent I just read Mining.Com for any indication of the future direction of the copper price and saw them mention that scrap was being used by the Chinese short term due to the price difference. Also noticed that China manufacturing data seems to be slowing. Latest update as of this morning was that Chile has shut its borders due to COVID spikes and therefore this is supporting the copper price and the rally today. Interesting that this was sold off also and back to $4.10s at time of writing. My position of $20 is just because I look at the Copper price and noticed it has never recovered to $4.25 per ounce/spec highs reached in Feb and that OZL share price continues to run. OZL over the last 12 months has never got close to its 200SMA so I expect there will be a reversion at some point and that price level will be $20/just under the 200SMA based on today's chart. I am also not bullish on the global economy such as others and that I feel a return to normal will not be the roaring 20s everyone is expecting. The current SP and global indexes reflect a return to perfection and the future electrification of vehicles/upgraded infrastructure already. I am happy to be proven wrong. Either way, if it goes to $20, myself and you all get a chance to buy cheaper and, if it doesn't, then you get to watch your stock go to the moon haha.
