I just bot more a .0525, about 200,000. And as others note, copper timing is great.
Wonderful report out last week by 2022.Q4 GR Market Commentary.pdf (hubspotusercontent-na1.net) Goehring & Rozencwajg Natural Resource Market Commentary One snip Since peaking at 9 mm tonnes of inventory in Q1 2013, base metals inventories have drawn steadily and are down 90% today. Today, exchange inventories have fallen below 1 mm tonnes and are dangerously low. Adjusted for days of consumption, inventories have never been lower. In Q4 2022, exchange metal inventory covered daily consumption by only 2.7 days, surpassing 45% of the lows seen in 2005-2006 of approximately five days and reaching the lows seen 35 years ago back in 1988-1989. The late 1980s saw robust base metals demand as the global economy boomed and Japan seemed destined for world economic domination. In response to inventory tightness, from 1988 to 1990, zinc prices surged 230%, copper rose 175%, and nickel prices skyrocketed 700%.
175% X $4usd = $11 copper, if copper does the same thing as the last time supply was this low.
HGO Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
