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Copper price on the rise thus will reflect on promesa if they find massive copper grades this is very bullish for promesa
Copper plays listed on the ASX have received a boost after prices for the metal rose in London last night on speculation demand will improve after the World Bank tipped further improvements in the global economy.
Copper for delivery in three months gained 1% to settle at US$7,352.50 per tonne on the London Metal Exchange while copper for March delivery rose 0.7% to US$3.358 a pound on Comex in New York.
Comex copper has since increased to US$3.361 in Asian trade.
The World Bank said in a statement earlier this week that the global economy is showing signs of bouncing back this year as high income economies take the lead.
Global growth is forecast at 3.2% while the U.S. is expected to grow by 2.8% this year from 1.8% in 2013.
ASX Copper
Tiger Resources (ASX: TGS) put on 3.16% today to $0.392 as the rise in copper prices further improves the already highly attractive economics at its Kipoi Copper Project in Democratic Republic of Congo.
The company has just this week alone upgraded Ore Reserves at the key Kipoi Central Stage 2 open pit by 112% to 208,200 tonnes and forecast 2014 production from the Stage 1 heavy media separation plant at 39,000 tonnes at a cash cost of just $0.30 per pound.
Azure Minerals (ASX: AZS) gained 8.57% to $0.038 while Oz Minerals (ASX: OZL) rose 1.71% to $3.56.
Sandfire Resources (ASX: SFR) rose 2.71% to $6.45 while CuDECO (ASX: CDU) jumped 6.19% to $1.63.
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