Keeping cool amid the resources hype Date: 5/5/2008 Author: Jo...

Keeping cool amid the resources hype


Date: 5/5/2008
Author: Jo Clarke
Source: The Australian Financial Review --- Page: 16

CopperCo MD and founder of Straits Resources, Brian Rear, is planning a mergerwith Mineral Securities. He is persisting with his proven diversificationstrategy. Rear is focusing on the platinum-based company as a target in order toprotect his group from the event of a low point in the copper cycle, similar tothat he experienced in the 1990s. Over half of the Lady Annie copperproject's prices were locked in through hedge contracts at $A7,050 pertonne, considerably lower that the current price of $A9,000, but Rear isconvinced that this is unsustainable.