Found an interesting article on Bloomberg as to why JP Morgan...

Found an interesting article on Bloomberg as to why JP Morgan have put their money with Les & Co.

Titled - Looming Copper Surplus Contracting as Mining Fails

Analysts are slashing predictions for the first copper glut in four years as producers from Chile to Indonesia contend with aging mines and strikes at a time of record demand.

The global surplus will total 18,500 metric tons, according to the median of 22 analyst estimates compiled by Bloomberg, 85 percent less than a January forecast of 124,000 tons. Barclays Plc expects shortages in the first half of next year and Morgan Stanley and JPMorgan Chase & Co. anticipate an annual deficit. Prices will rally as much as 14 percent to $8,700 a ton by Dec. 31, the median in a survey of 15 analysts shows.

Deutsche Bank AG cut its 2013 surplus forecast to 260,000 tons from 300,000 tons on July 3 and JPMorgan is now predicting a 295,000-ton shortfall, compared with a January projection for a 259,000-ton glut. Bank of America Merrill Lynch said July 9 it expects a 7,000-ton surplus from 120,000 tons forecast in April. Barclays puts the last surplus in 2009

See for the full story http://www.bloomberg.com/news/2012-07-17/looming-copper-surplus-contracting-as-mining-fails-commodities.html

Things are finally start to fall into place with new in country manager (ex PNG Chief Geo) with the right skills and connections