At this price for copper its starting to get quite interesting.
Everybody is forcasting a copper supply deficit impending over the next couple of years. However, as the price of copper falls we are going to see a very rapid wind down in many very large mines with deminishing grades and increased costs. OZL with AVB has some very low cost copper on the horison. If we get an accelerated drop in copper supply the bouncein PoC should be spectacular and companies like OZL should stand to benefit.
The question IMHO is just when to buy the bottom and this is hard to judge when a single suspension notice lifting with Centro will cause a complete re-rate - not to mention all the withheld drilling and DHEM results for all the AVB assets which must be due from about tomorrow on wards. Also IMHO
Dipped a toe via a fund today
OZL Price at posting:
$9.04 Sentiment: Buy Disclosure: Held
