Finally with Cu AUD Graph

I said I would no longer comment on Metallum but I didn't mention the Cu price.

Sure the Cu price has fallen in USD terms in which it is quoted on international markets but so has the AUD fallen against the USD. The weakness in Cu and other metals is largely as a result of USD strength than with any issues with the metal itself. Never forget that Metallum reports in AUD and has a revenue stream in USD.

Also do not forget that Metallum mines in the middle of nowhere and power for the operation comes from big powerful generators, these use fuel ... what has happened to the fuel price?

I have attached a one year graph with this post showing the Cu price in AUD. Look at the movement since March last year.



I see the current situation with regard to oil, Cu and the FX rate rate as conspiring together to produce a completely neutral effect on Metallum's business operations.

EB