Investors chart, page-9

I don't claim any specific or special knowledge in any of those areas. The understanding I've come to is that we will have no trouble at all selling our product, and I'm not sure that's the inference being made. The point of having other large suppliers around is that it may decrease the price we can sell our product for. The copper price is effectively set on a global scale. We will likely get better terms for our clean concentrate, but whether copper is at $2.50/$2.75/$3.00 US per lb is where we get affected, not in our ability to sell the product.

Just as an aside, my thoughts on the various articles around is that we have a number of very knowledgeable outfits with expertise that are taking different opinions on the demand/supply of copper over the next few years. Some are very bullish, some are very bearish. I personally disregard the likes of Goldman Sachs as they've been renowned shorters of copper for some time. They have plenty of skin in the game so their opinion I take with my seasoning. I found it interesting to note from a report in that article that copper supply has outstripped demand for the last 18 months continuously, if that's the case then demand must be coming off a lot faster than supply because the LME warehouse levels look like they've fallen off a cliff. The only fact I have to hang my hat on there is that the price of copper is what people are actually paying, not opining, and that is going up. Whether that's largely due to a weaker US dollar rather than demand I don't know, but as long as it continues I don't care. With regard the possibility that China is stockpiling, well as long as they're buying that's fine and if they're stockpiling it's because they believe the time will come when they need it.