"........Buying Citadel gives Equinox Chief Executive Officer Craig Williams control of the $305 million Jabal Sayid copper and gold project that?s due to start production by February 2012. Williams, who?s Lumwana project in Zambia is the nation?s biggest foreign investment, said in an Oct. 15 interview that he?s looking for acquisitions after copper in London climbed 37 percent from its June low.
?It?s good for Equinox to stay in the copper spectrum, with prices set to stay high for the next two years,? said Gavin van der Wath, a BBY Ltd. analyst in Sydney. ?The pure copper players have got a premium because there aren?t many of them around.??
Global copper demand probably will outpace supply by 180,000 metric tons this year, with the deficit widening to 482,000 tons next year, Michael Jansen, an analyst at JPMorgan Securities Ltd. in London, said Oct. 21.
Copper for delivery in three months in London touched a low of $6,101 a metric ton on June 7. It closed trading on Oct. 22 at $8,334 a ton.........."
Currently we are closer to $8500. It looks like the whole copper sector is about to get seriously hot and CDU will become a real handful for the Big N Churners to try and hold down at pure dirt levels.
CDU Price at posting:
$2.24 Sentiment: Buy Disclosure: Held
