The 12 CDU mined stockpiles as per the last announcement are growing at >400 truck loads per day!!!…….great news for holders……will be even better news when they ( the DSO/native copper piles) get converted to monthly dollars through the door.
So as our mined stock piles rise I see the LME's stockpiles are dropping…they took another dramatic fall last night to 197475 tonnes…thats approx 5500 tonnes!!!…So approx 25000 tonnes in just 5 trading days!!! The only records I can find only show copper stocks are lower than they have been in the last 5 years!!! but that figure could be many more years?? has to convert to severe shortages coming up and hopefully rapidly escalating $$$/Lb.
Unfortunately the Dow dropped 1% over night so not much being said about dropping below "the 200,000 tonne reserves level"…nor how quickly that figure could drop to zero.
Now I have to beg to differ with those holding the approx 9,000,000 CDU shorts…they are saying our SP is now likely to drop to a $1.00……really??? ( I guess they all missed the really nice buying support yesterday) as the LME reserves drop like a brick?? I dont think so.
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