BHP released a presentation today with forward look at the copper market from their perspective.
BHP believes the copper market will head into defecit by 2018 and never recover (demand > supply) due to falling grades in existing mines and lack of new projects. They forcast the copper market defecit to be 8 million tons by 2025.
If true Hillside will get up. I put some faith in BHP analysts. The case for Hillside will be clear by 2017. In the meanwhile if we can get up with a small scale operation that would be great but if current efforts result in a delay to 2017 rather than mine development starting in mid 2015 then they are just kicking the can down the road to suck in more money with the extended BFS IMO.
RXM Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
