Guess this upcoming quarterly profit, page-84

Half of the first 2yrs planned production is hedged.
BHP is bullish and so are lots of larger companies searching for acquisitions with mine life.
Can't make AMMO without Copper to make Brass cases and Copper compression rings for artillery shells.
The large number of Copper projects you say starting this year and next will be years before they reach any Capacity once going and barely able to make-up for declining production from existing mines let alone any increase in demand.
They need over $4.50 a lb to be break even and worth developing.
If it hits $4 then none will begin operation or most will cease.

There is a big difference between Chinese prices and Commex which expect DELIVERY of actual product.
Ignore claimed warehouse stocks in China many have been exposed as not existing.
Google Copper warehouse fraud.It seems to happy every year in China.
Like many things in China if the price they are paying is too high they say they have big stocks to drive it down after cranking it up to bring you into production.
Now how much of their stocks is Russian and too risky to use in anything you export for fear of Sanctions if found out.
Look at IO that they are going to get from Africa,For the same tons as present they will need an extra approx 220 Cape-size boats which they don't have spare just to make up for the extra travel time for the ore they currently receive from Australia.
Then again the fuel costs which I worked out at US$18/ton extra at the time.

DYOR + DYODD bought more today after standing on the sidelines.Had the flu so more research into HGO's OTHER COPPER tenements over the last few days.Also found an Copy of the ramp - up schedule including monthly expected gold production in a chart,in a research study and they are doing quite nicely to the original plan IMHO at higher than budgeted prices.