Copper price rally gaining momentum ($3.15/lb). Combined with...

Copper price rally gaining momentum ($3.15/lb). Combined with significant progress in building a high grade resource and a robust financeable project, we should see the share price start to better reflect the inherent value in the Jervois project and resource and growing interest from other copper players. I'd like to see a price sensitivity at $5/lb!! Should be an exciting 12 months coming up. If you haven't been keeping up with recent copper market news, here are a few recent snippets.

Copper pricerally poised to strengthen out to 2025 with supply deficits forecast.

· Oct21: Former GS analyst, Josh Crumb, who in 2010 published a $5.00/lb ($11,000/t)price forecast says he can see a case for copper over $5/lb next year…andgoes on to say …. he doesn’t see how we don’t see $10 by 2025.

· Citigroup(Oct 20.): We believe investor interest in gaining exposure to the ‘decarbonisation’theme is on verge of reaching fever pitch

· S&PGlobal (Oct 21): Governments globally kickstarting or acceleratingdecarbonisation. Green agenda to have profound impact on metal extraction andrefining. $1 trillion needed for key energy transition metals by 2035. Putsimply, the energy transition starts and ends with metals.

· FT(Oct 21): Copper hits $7,000 a tonne as green tinted rally hots up. Copper isemerging as one of the key ways for investors to gain exposure to a rollout ofmore wind, solar, batteries and electric cars due to the metal’s use in electricwiring. Joe Biden has promised a $2tn green energy and infrastructure plan if he wins the election.

· GS(Oct. 1): Deficit expansion set to drive copper higher in 2021: Raising priceforecast for 3/6/12mth copper price forecast to $7,000/$7,250/$$7,500. We havegreater confidence in the copper deficit for next year. Recovery in demand isshifting from China dependence into a broader global recovery. We now project acontinued tightening path for the copper market which can only be solved,ultimately, by stronger pricing.

· Copperremains Goldman’s favourite commodity based on cyclical and structural support.For good reason, too - China unveiled that it had set aside $900 billion to bespent over the next five years towards developing a familiar infrastructuralmix of mass ultra-high voltage power transmission installations, vehiclecharging systems and also deploy “new digital infrastructure”.

· Minersare braced for years of political instability in Chile, the world’s biggestcopper-producing nation, which is holding a constitutional referendum thatcould lead to higher taxes.

· Oct21. Copper surged to its highest price in more than two years in London, helpedby a rally in the yuan and concerns over risks of widening supply disruptions. Lundin MiningCorp. planned to suspend operations at a mine in Chile with a second union striking after failing to reach a wage accord. They join members of another union who downed tools Oct. 8. China’s yuan surged to the highest since July 2018, boosting the buying power of commodities consumers in the country. The copper market is already tight, with mine output expected to drop for a second consecutive year in 2020, the International Copper Study Group said Monday. Decreases in copper’s global supply caused by pandemic-related shutdowns, as well as fears for further disruptions as coronavirus cases increase worldwide, continue to drive the metal higher, analysts at TD Securities said in a note.

· ReutersOct 21: The prospect of China buying copper for its stockpiles is filteringthrough the market ahead of a meeting of the country’s leaders to discuss itsnext five-year economic and social development plan. The meeting due to take place next week is expected to approve the stockpiling of commodities such as copper, which China has to import due to inadequate domestic resources of the metal used widely in the power and construction industries. The National Food and Strategic Reserves Administration, China’s state stockpiler, said it was not aware of the situation, when asked about stockpiling plans. The National Development and Reform Commission, China’s state planner, did not immediately respond to a faxed request for comment. According to Citi analyst Max Layton, potential catalysts for stockpiling include deteriorating relations with the United States and the COVID-19 crisis highlighting the need to ensure China’s stocks can withstand supply disruptions. “We would be comfortable making 700,000 tonnes of incremental state buying over the next five years, taking stocks to 90 days of net imports, our base case,” Layton said.

· The European Green Deal. In January theCommission unveiled its financial plan for the Green Deal, aiming to invest atleast €1 trillion over the next ten years. It wants to achieve this using a mixof private and public funds, including a quarter of the EU budget. Goal - Tobecome the first carbon-neutral continent: that’s the ambitious goal for Europedeclared by the Commission president Ursula von der Leyen in 2019.