They obviously have plenty of buying power and with a long term forecast of $9000/ton copper I would say that they will just keep soaking them up while there is no great demand from retail.
No doubt they could line wipe this to 5c or more whenever they need. But I get the impression that they are in no hurry while impatient holders are willing to sell out cheap. A few more projects under the belt in a copper rich country would add a lot more underlying value to their 6% position over the coming years. Will be interesting to see just how big they intend on going.
AUQ Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
