Well, ABY saw 54 cents today and the next target tomorrow is 60...

Well, ABY saw 54 cents today and the next target tomorrow is 60 cents if there aren't too many profit takers.
Copper is continuing to move higher as stocks are continuing to decline.
Stocks down another 3775 tons. Cu price moves up to US$2.18/lb.
We will see further rises in the copper price shortly due to

1) Mopani Copper Mine (MCM), owned by Glencore, has announced another 926 jobs have been cut as part of its cost cutting measures after the decision was taken to keep Nkana and Mufulira mines in Zambia open. With the 700 already cut, the number represents 4% of the mining workforce in Zambia . Glencore owns 73% of MCM with the balance being held by First Quantum.

2) Unionised mine workers at Xstrata’s Lomas Bayas mine went on strike yesterday, to press for higher wages and bonuses. Production cuts are expected in about one week time. The mine has the capacity to produce 75,000tpa, about 1.4% of the country’s output. Workers are blocking access to the mine to hamper entry to other workers and fuel shipments.

Sell target $1 ++