mikeThe ROE won't be above 20% for long if copper continues its...

mike

The ROE won't be above 20% for long if copper continues its rapid retreat. The cream is fast being removed off the top.

What we have however is a capably managed co that has excellent growth propects in the medium term and a chance to buy it away from the heady days of $4lb + copper.

I have always felt these types of businesses are only safely purchased on their relevant commodity low cycle - or at least well away from highs.