Have just been reading an article on Phelps Dodge, the US copper miner and learnt some interesting facts.
Chile is "the Saudi Arabia of copper, and through September, Chilean copper output fell 2.5%. In part that's because copper production requires a tremendous amount of water, which is in increasingly short supply in Chile's mining regions"
Apparently there are some prominent fund managers in the US who are placing large bets on copper having another VERY good year in 2006 based on a pure supply & demand argument.
If they are right, and copper booms in 2006 then it augurs well for stocks like BLR who offer punters/speculators/investors the opportunity to get in on a project at the gorund floor.
This Grassmere project they have got a hold of looks good, but even mere SPECULATION that it could be good will be worth a few centsa to the share price once the market wakes up to it. BLR has the added bonus of a young management team that is already kicking goals with IBR and ELK so I'd be watching this one very carefully.
Only a few weeks back it ran from 3.2 to 3.7 and got a speeding ticket.
Clearly someone was taking a position.
I do not hold BLR at present but I am watching them closely.
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Have just been reading an article on Phelps Dodge, the US copper...
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