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lme tin stocks - update

  1. 236 Posts.
    An update for those not following the tin price.
    http://www.lme.com/en-gb/metals/non-ferrous/tin/

    When last I wrote I 12/11/13 I commented upon the stock levels of tin at the LME ( London Metal Exchange ), a commodity where we have have started to derive some income. Stock levels had been falling in the prior 6-8 weeks from 14,000 tonnes down to 12,000 whilst the price had remained firm at just under $23k a tonne.

    At at 22/11, stocks are now down again to 11,380 tonnes, with the price still holding relatively stagnant just under $23k. If the October Abu Dabbab shipment results are similar for November we may all have reason to smile going into Xmas. The continued downward trend on available volumes must eventually put upward pressure on the price which was $25k only 9 months ago ( sorry do not have date of tonnes at that time, feel free to comment )

    If our Executive Team has maintained the control over production the was exhibited in October, our stock (sp) is well overdue for a Santa Clause rally. Us long term holders of course did not miss the computerized nonsense that went on earlier in the week, all of which told me, there are larger buyers looking to take positions, but happy to play games getting set in the process. Really, one (1) share sold on opening taking price down 20%, then A host of low level volume computerized trades keeping it at that level.

    Ian, I would once again reiterate congratulations on the interview;
    http://www.finnewsnetwork.com.au/archives/finance_news_network24872.html
    we would like to see and hear more of you out there telling the market where Abu Dabbab tin production, tantalum, feldspar off-take agreements & finance negotiations are up to.

    I am heading to the opposite direction soon (NZ). If anyone is attending the AGM could you please ask and let us all know back here;
    1) what tin shipment number are we up to ?
    2) has a decision been made on a crushing plant ? Yes / No, if yes, what is cost, availability & time frame to commence ?
 
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