I know that rni is nowhere near being a copper producer at present , and in fact may never be one, but the signs are there for it to be one, one day. The Monty find augurs well, especially with sfr stating that the find there has the hallmarks of a significant new centre of vms mineralisation in the greater doolgunna project. That's about copper of course, and it is not far from rni's Doolgunna, and hopefully in the same geo channel. Exciting stuff indeed, but what 'significant new centre" quite means is not certain to me, but my guess is that it is separate from deGrussa. Geos may comment on the meaning of these words.
Anyway, time will tell and I found this article today in the SMH re OzM, a former big holder in sfr. It likes the future of copper and is on the hunt for potential copper and/or gold explorers/producers.
"OZ Minerals chief executive Andrew Cole has said copper will remain immune from the violent price swings besetting iron ore for decades to come because of strong demand from a variety of industries linked to the digital age across a broad number of countries.
"I'm glad I'm in copper," Mr Cole told Fairfax Media after delivering a speech to a Committee for Economic Development of Australia business function in Adelaide.
Mr Cole said there will be fluctuations in the copper price over the next few years, but the commodity will be spared from the serious downturn in prices that have plunged toward the break-even cost of many second-tier iron ore miners.
Iron ore prices have recovered slightly since sinking to $US44.59 last week, which was the lowest point since May 2009, when the world was mired in the depths of the global financial crisis.
Production cuts by Brazil's Vale have temporarily halted the iron ore price plunge.
"It's not driven by one sector or one country," Mr Cole said of the long-term fundamentals of copper, which he expected will keep prices at more consistent levels, adding that the metal simply isn't dependent on the construction industry in China like iron ore has been.
Mr Cole also said that OZ is making solid progress as it edges further toward making an acquisition to diversify further. It is considering potential acquisitions in base metals or gold, and currently operates just one mine, the Prominent Hill copper and gold mine in northern South Australia.
"We're making good progress," Mr Cole said, adding there was nothing he could divulge publicly yet. OZ is undertaking due diligence on at least four potential acquisitions under a systematic process designed to find the best-value, long-term builder of shareholder wealth.'
Read more:
http://www.smh.com.au/business/oz-minerals-ceo-andrew-cole-digital-will-keep-copper-immune-from-violent-swings-20150714-gibk84.html#ixzz3fxm2oMaN.
Rni's Doolgunna is right in the new copper zone it would appear. Would Oz be interested? Dunno, but the gold to the west might be of interest. Could Oz come on to the scene! Gold plus potential copper? Good mix!
