UBS Turns Bullish on copper, page-3

From Argonaut's website 2 days ago:

"Finders Resources (FND) released September Q results with 4.0kt copper cathode production from its Wetar project (72% FND), slightly below Argonaut’s forecast of 4.2kt. The newly constructed 25ktpa cathode plant ran at nameplate capacity for the month of October and, along with the 3ktpa plant, should see the project operate at the designed 28ktpa rate in the December Q. Argonaut is impressed by the rapid ramp-up of Wetar following first cathode production in June 2016. At 30 September, FND had A$8m cash and ~US$101m debt in the Company’s Indonesian subsidiary PT Batutua Tembaga Raya (BTR: 76% FND, 24% Daewoo). During the Q, BTR restructured its hedge book releasing US$42.5m which was used to repay debt. BUY recommendation maintained."

http://www.argonaut.com/news/latest...ces-fnd-nameplate-after-just-four-months.html