We are a lowest quartile cost producer due to co-products are we not?
Gold Up & Copper down means what - fear of inflation (US$ buying less for example) and fear of recession (lower demand due to higher prices).
Now if you're higher price compensates for the lower demand then you're breakeven ... the global markets are flashing signs of global recession has increased. That is simply not good for "growth" - the "material deficit" for the copper market post 2025 wou;d be delayed IF a global recession comes about in H2 of 2025 due to tariff wars - hard to argue against that.
But it (the growth) will come so NWC project timing should be altered accordingly. You don't want to be bringing on new production in an environment that isn't conducive to receiving additional material (e.g. lithium market rapidly went from under supplied to over supplied due to supply response (adding new tonnes) at a time when demand did not grow as much as expected).
NWC Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
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