quarterly out, page-51

jjcl,

Thanks for the Bloomberg news on copper. The copper stock on the London Metals Exchange has been dropping on a daily basis [ except for one or two days ] since I drew the forums attention to that when it was over 500,000 tonnes. It is now 229,800 tonnes.'

The copper price last quoted on the CuDeco is $7319.48 Australian dollars a tonne.

I have asked a few people why, with dwindling stock piles of copper, the price has not risen accordingly but one explanation someone came up with was that China was taking more concentrates. Another was that it was using its stockpile.

China will need more copper as it endeavours to house its rural population and America is on the improve so really we should have seen a higher copper price than is currently the case.

I cannot work out what is going on but higher copper prices will certainly assist CuDeco and may spark some interest in the junior explorer sector which has had great difficulty in attracting interest.