LME Copper inventories fell again last night and have fallen to their lowest level since November last year. This is the 37th straight fall in LME Copper inventories.
The rising Copper price reflects the change in stocks.
OZL is well positioned to capitalise on any upward price movements of Cu with the infrasture in place to grow volumes if required. All the company announcements talk about growing P Hill and exploring in the vicinity. This is good news. The company appears to be adopting a conservative approach rather than a gung ho approach, which is good.
By the way, with the Gold price rising, it also bodes well for keeping the C1 costs to US$0.75c.
Now here is a question.
Should OZL go for PNA and/or KZL?
HT1
OZL Price at posting:
92.5¢ Sentiment: LT Buy Disclosure: Held
