Copper Price, page-25

Wasn't CNB supposed to publish the scoping study before the end of Q1 - i.e. in a few days' time? It will be interesting to see whether they can keep to this - or whether we will be surprised with something completely different.

Theoretically, we could be confronted with drilling results from Yandal on the HMX side, but I suspect that we will hardly hear anything in this regard before Easter. We will probably need another 2-3 weeks before the results come in. The copper price is just as exciting at the moment. Hardly at all. This also applies to the HMX SP. At least there is a minimal upward trend. The reason for this is more likely to be found in the fact that the sellers are obviously sold out. Not much material that could be scraped together - if one wanted to - without causing the SP to shoot up by 10%.

Be that as it may. Before I fall asleep (from sheer boredom), here's an interesting chart. It shows how copper stocks in China are being built up at the beginning of the year. It is noticeable that China has probably stockpiled much more copper than usual. This could mean a) there are problems with demand b) they are stockpiling at relatively low prices. Always keep an eye on what the Chinese are doing. The clock is ticking. Sooner or later the alarm clock will ring very loudly and many will wake up and realise how high the sun is already in the sky. Then sunburn is guaranteed.

With this in mind and, as always, with a good dose of humour - DYOR.