Copper Price, page-160

No, this is not the chart of an explorer. It is the (somewhat more boring) monthly chart for copper.

I'm still surprised at how resilient this move is. We're back to USD/lb 5.11 - just doesn't want to come back. Of course I'm a bit crazy - but wonder - if we might see the 6 before the decimal point in the next 2 months.

So I see an ascending triangle. Can be drawn in different ways of course. If the breakout continues, then this would indeed suggest prices in the USD/lb 7-8.00 range - in 2-3 years?

Gold also has an interesting chart. I think USD/oz 2500 to 2700 is possible in the next few months. No matter what all the analysts say who rely on fundamental data (what is "fundamental" about gold?). In the longer term I would see prices of 3000-3200 - probably still needs some time.

Silver is needed in photovoltaics. You should be prepared for prices around USD/oz 38-40. It would be interesting to know how the price of moly could develop. 40% of the revenue from Kalman would come from the moly side. We should be aware that the price has always been around 150-200 per KG for a long time - and we are currently at around USD 500. We saw how vulnerable the market is on the supply side in 2023 when the price exploded towards 900.

Interesting times indeed.