Any company with pure copper mining that is currently producing?
Cheers
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Any company with pure copper mining that is currently producing?
Cheers
Interesting question, doc.
I'm no expert but at first glance it seems that there's no really strong mainly Cu producer since MIM got bought by Xstrata and OZL's recent problems. The big internationals like BHP, Xstrata, Freeport (?) seem to have the best Aust copper these days.
Minnows like Compass, CopperCo and Matrix are all in trouble.
Don't overlook the likes of nickel miners like PAN and MCR who produce a respectable amount of Cu ( and cobalt ). MCR also have a very prospective copper resource in the Tottenham Project - not producing as yet.
Thanks.
I will do more research into it. Copper seems to be on the move. Dont know if it is sustainable. China stockpiling again.
Check out EQN, meant to be scaling up production to 150kt of Copper.
Plus some Uranium to boot, all in Zambia (sovereign risk?)
http://www.stocknessmonster.com/news...E=ASX&N=434589
AAX did alot of the work for them, if you want more reading ;)
PS, I'm with Biker, i like PNA for the Gold & Silver as well.
Nice to see the LME copper warehouse stocks level start dropping for the first time in about 6 months. May not mean much but at least a break in the exponential rate of storage!
Bought a few more PNA today at 16.5. Dribble buying with a long term view. May be a bit of weakness for a while as SPP buyers take a small profit, or J BE WARE flog off some of their refinancing rort.
And a bit of good news last night with world's biggest copper producer, Freeport-McMoRan up 12% in the US.
And a nice wee up-tick in the copper price.
I have exposure to Copper and Gold with my holding in IRN. :)
I want to invest more in resource stocks. PNA looks good, but on a brief read their gold production cost is too high and will not be profitable if price goes below $850. I will read more this weekend.
There must be more copper stocks out there we dont know about.
Well of course it is often mined as a co-product of gold ( and other metals) so a good place to start might be with your favourite gold stocks to see who has a strong Cu/Ag mix.
Doesn't look as if there's any obvious Aust pure copper producer left that hasn't been either bought out or has major problems?
Dr
Re PNA the gold & silver revenue are stated as credits against the Copper cash costs, which are extremely low at $US0.68/lb.
http://www.stocknessmonster.com/news...E=ASX&N=207780
There Gold production will increase when there Ban Houayxai project kicks off
Especially for the doc!
Interesting read.
http://www.aireview.com.au/index.php...=9767&setSub=1
Thanks macduffy - found the article good - if not a little "a bob each way" in terms of predictions - although that seems to be the flavour of comentatary at large at the moment and I can't say I blame the authors.
Have a good weekend.
All the copper stocks are going mental. WOW! :)
Any one research or have a thought on CDU ???
I looked at them some time ago but didn't buy, for reasons I've now forgotten.:confused:
They own 100% of the Rocklands Copper Project, 15km from Cloncurry, QLD.
From memory it is one of the richest copper/cobalt deposits in Aust but the project is still in the feasibility stages with first production planned for early 2011. Still a few hurdles to jump first.
CDU seem to have plenty of cash - $21.8m at 31 December 2008 and they have been steadily buying back shares on market.
Definitely worth a serious look if you reckon copper has a future. I do.
;)
Wayne McCrae seems to be both an asset and a liability to Cudeco. He's a bit of a maverick, so gets some people offside I guess.
Haven't looked for a while, but the impression was they do lots of drilling, but seem to do little in the way of getting out some sort of resource statement.
If people are looking for a "pure" Copper play, then EQN shouldn't be ignored, as the largest ASX listed pure copper play (+ some uranium)
http://www.directbroking.co.nz/cgi-b...&ind=MACD&ra=2
Yeah Im not a day trader and cant watch my plays every day. Usually look at time frames of a week to 6 months or more. Still getting my head around the ADX since you brought it up the other day. Hadnt looked at it previously. Understand how it is used but still figuring out how it works. Am playing with it :D.
Most here know Im just an apprentice and that the charts I post are for feed back as much as anything.
I really appreciate the feed back I get from Yourself and Phaedrus. You guys have helped me to no end.
Have had some trouble finding good literature on ADX
Excellent,
Thanks for that AA
Hard to avoid the impression that the CDU SP is being supported by the share buyback but to what extent?
About 20% of yesterday's turnover were bought back by the company ( 32,000 shares). About 1.6m shares since the bb began.
Seems a bit strange to be buying back shares when the real production expense has still to be faced and finance for greenfields mining is scarce and expensive. Does anyone recall what the company's rationale for this was?
:confused:
ABY seems to have broken out to form a double bottom.
Yep seems so AMR...broken up above that important 24 cent resistance point (candlesticks) yesterday ...fingers crossed it can be confirmed and not a bulltrap.. Spot copper is in an uptrend and the ABY indicators are looking good so I feel more bullish on this share this time.
Disc: have ABY
Hi guys, been trading on KZL. It's also a copper company and have been trending up. Resistance of 65c should be re-tested again in the next couple of days. At the moment, I am not a holder.
After much deliberation, I settled on Discovery Metals (DML) as my copper play (SRL is likely to be only be a trade). Discovery's Boseto copper project is located within the Kalahari Copper Belt in Botswana (a good African address), and already looks to be about a third the size of Prominent Hill in terms of copper content (at a similar grade), and it actually has more silver. Misses out on the gold though.
Looking to be in production around 2011, which looks to be good timing in terms of a recovery from the Geelong Football Club.
The beauty of this project is that in terms of exploration, they really just seem to be scratching the surface.
Market cap around $50m.
http://www.discoverymetals.com.au/re...0000000275.pdf
http://www.discoverymetals.com.au/re...0000000269.pdf
http://www.discoverymetals.com.au/ourprojects_maun.cfm
http://www.discoverymetals.com.au/re...0000000249.pdf
Interesting article for us copper buffs.
http://www.businessspectator.com.au/...cument&src=kgb
:cool:
Very interesting article. Thanks.
Goes to confim what I have been assuming for sometime. Those Chinese are long term planners and are paving their path for the future, while we sit here thinking about our past mistakes.
China will need huge amount of raw materials to upgrade their infrastructure.
Rumour has it that the Chinese are switching out of US debt and into hard commodities. The Chinese are using their huge cash surplus to stock up their depleting raw mineral reserves.
Also, China's huge infrastructure stimulus package have pushed up future demand for iron ore and copper. The Chinese are preparing to upgrade their infrastructure, which is huge.
http://business.smh.com.au/business/...0419-abf1.html
Copper company? Newmont Mining corp????
More on copper and copper companies.
http://www.eurekareport.com.au/iis/i...E?opendocument
Good reading, thanks McDuffy.
In particular, I like this comment which addresses the fundamentals of copper.
Looking longer term, an enormous amount of the world’s infrastructure expenditure over the next five to 10 years will revolve around copper. We are going to re-engineer much of the world’s power generation to lower carbon emissions, and that will require copper. The communications revolution might have a strong optic-fibre content, but a large amount of the facilities will require copper. We are going to re-engineer our cars either via the hybrid movement or via electric cars and that will also involve large amounts of copper.
On the other hand.......
http://www.theaustralian.news.com.au...-15023,00.html
But wait, there's more ...
http://www.theaustralian.news.com.au...005200,00.html
BEAUTIFUL graph!
http://www.infomine.com/investment/c...=lb&x=usd&r=5y
This one looks even better!
http://www.infomine.com/investment/m...art&x=usd&r=3m
;)
Copper can go to $2.50. :)
Australian share market rises with positive Goldman report on raw materials
MINERS held the share market in positive territory this afternoon after a bullish research report on the raw materials sector.
The S&P/ASX 200 was up 4.3 points, or 0.1 per cent, to 3742.2 and the All Ordinaries was higher by 4.6 points to 3739.9.
BHP Billiton gained 0.4 per cent to $33.99, Rio Tinto added 0.4 per cent to $64.34 and Newcrest Mining advanced 2.1 per cent to $32.04 after Goldman Sachs JBWere recommended investors increase their exposure to the raw materials sector, saying the worst was over.
“It seems to us that the worst is over in terms of demand for raw materials,” Goldman analysts said in a note to clients.
“Globally, de-stocking is well advanced, and the re-stocking cycle, which is already well under way in China, will follow in other key markets. Investment interest in commodities as an asset class is regaining some momentum.
“This suggests that we have also seen the bottom of the price-cycle for base metals, and particularly for copper, which remains the most supply-constrained, and therefore our preferred, commodity for investment exposure.”
http://www.theaustralian.news.com.au...-36418,00.html
More copper news, doc.
Here's a report by Macquarie Bank on the copper market.
http://www.theaustralian.news.com.au...005200,00.html
;)
Hoop has enjoyed this Copper party for the last 3 months.. ..hate it when I start seeing it in the Newspapers.
Yes Dr W it can..and from a simple chart point of view it seems it has a good chance to get close to that mark (solid black line).
http://i458.photobucket.com/albums/q...y-26052009.gif
Sorry, Hoop, but it's still making the papers!
http://www.theaustralian.news.com.au...005200,00.html
;)
Another one for the doc.
http://www.theaustralian.news.com.au...005200,00.html
;)
Thanks McDuffy.
By the time the Chinese have finished buying, the economy would have picked up and steaming ahead. The other countries will have to pay a huge premium for the stuff. The new economy which will largely rely on electricity will require alot of copper. Thats why I am hanging onto my copper stocks. For the long term baby.. for the long term, oh yeah!
Spot copper broke through 2.17 which confirmed the uptrend is still in place and dismantled the double top creation in the process. (see my post #51 chart). A very bullish signal. The price at this point (above 2.17) gave confidence to the market and the rise accelerated to be presently at 2.30.
Next point to watch is the major resistance at 2.40 ish to Dr 2.50.
Of Note: A floor has be established at 2.17 (old resistance now support)
IRN looks like a good play at present
I took profit on this too early, but got back in yesterday as it now looks to have busted the 50c res.
Good copper news keeps on coming!
http://www.theaustralian.news.com.au...017999,00.html
:cool:
Copper keeps on climbing!
http://www.infomine.com/investment/c...xusd.ulb#chart
And LME warehouse copper stocks are slowly dropping.
All looks good for OZL in its new life as an (almost) pure copper play. And for others as well, of course.
I'll be having a closer look at PNA.
;)
PNA may be showing a bit of weakness at the moment due to some selling to take up the non renouncable rights at 28c. The retail offer closes on the 22nd June so between now and then may be a good buying opportunity. Things do seem to be lining up nicely for this company, but they have had a great run from their lows already of course.
Yes, biker, that's the dilemma!
Plus the fact that that there will be almost 3 billion shares on issue after the placement and issue.
Just looking at this stage but the copper fundamentals look good and PNA is tempting!
Certainly is a lot of shares but 25% of those are held by 2 big and recent institutional investors - GRAM (20%) and AMP (5%). I am though suprised the SP hasn't come back further given the 2 for 9 rights issue. Sent my cheque off today via courier to take up my share.
Dis: Hold
I am keeping an eye on PEN. Anyone have a valuation on PEN?
ROFL... yeah i mean PNA.
Thanks JBmure.
Prw ????? .............
Chinese demand may be about to wane if this article is anywhere close to the mark.
http://www.theaustralian.news.com.au...005200,00.html
No doubt about that, doc.
I saw a bit of that in the 80's when China was a big, astute buyer of NZ crossbred wools.
;)
There is only one way resources can go and that is up. Here is an interesting article that gives reasons why resources are going up in the future. Developed countries are fighting for the resources and China is accumulating it.
http://www.theaustralian.news.com.au...76-643,00.html
PoC is still strong.
http://www.theaustralian.news.com.au...005200,00.html
Bought some PNA today. Looks undervalued at these prices.
Anyone have a view on PNA?
The way the Chinese are acting on the Rio thingee has me thinking they cant get enough of resources and will continue to buyer for a long time.
When the rest of the world starts buying resources again, China will not want to miss out and BOOM the race starts again.
I think the recent resource price fall was a healthy consolidation for the next leg up.
Hi, doc.
CDU had another spectacular result from its Rocklands drilling earlier this week and the SP reacted accordingly.
If I could be a bit more confident of the way forward here I might be tempted to take a small bite.
;)
Took up my rights at 28c, bought max possible extras after scaling at 28c and bought more on market yesterday. I would imagine Golden Sacks J BEWARE will be syphoning off their ill gotten shares as time goes on, which may keep the price subdued for a while. Nice to see PNA dump Golden Sacks J BEWARE for the capital raising and use another broker. Can't see PNA ever going back to GSJBW after being ripped off in the loan refinancing deal.
Nice wee rise in the copper price overnight and the warehouse levels continue to fall.
Copper very bullish chart only wish IRN,CFE charts would go as bullish
My holding in PNA and KZL is going gangbusters.
JBmure, dont worry about IRN mate, this pup will get taken out soon and it will be worth the wait. :)
Copper very bullish chart only wish IRN,CFE charts would go as bullish...
Bullish?? Yes sort of JB
However all eyes on that 240ish resistance zone will PoC break it? or respect it? (again!!).
Respecting the 240ish resistance zone again will I suspect create a double top nervousness.
The ABY KZL and SRL prices in my portfolio have followed (bettered) the PoC up from the bottom..I guess there are copper companies and there are other copper companies and some perform better than others "perceived" through the investors eyes.
http://i458.photobucket.com/albums/q...y-17072009.gif
US housing stats fires up copper
US housing starts data shows sector has bottomed out
http://www.theaustralian.news.com.au...005200,00.html
Yeah for sure but IRN 34.23% Tampakan stands out as arguably the best and near-term
undeveloped copper deposit in the world. It is difficult to identify any other new long-life,
low-cost and large-scale copper deposit that will come into production before Tampakan.
“The feasibility study process is targeting an initial 20 years at an average annual
production of 340,000 tonnes of copper and 350,000 ounces of gold with a cash cost
estimate of less than US46 cents per pound of copper after gold credits
An CFE brought the lady anne copper mine for a song with a rising copper price CFE will more likely get a better price from the buyers sniffing round atm...
the higher the Cu the more likely these 2 will be greatly rewarded with Cu Asset sales
LST is looking to sell their balance holding in IRN, hence the sp have not moved up.
If IRN sp comes back more, I will add to my current holding. :)
They sold most of it with only a small holding left.
Under the agreement LST merger with Catapal to create a mid tier gold miner, LST have to sell non core assets, which is IRN.
I am keen to add more to my IRN holding if the sp do fall further. My guess is the Chinese and/or a large miner look to take out Tampakan.
Copper price near $250! :eek:
"China inventory build is essentially complete, while we are now seeing evidence that restocking has commenced in North America, Europe and Japan," BHP said.
http://www.theaustralian.news.com.au...005200,00.html
Spot copper ended trading just north of $2.50
JB.. yes.. much more bullish now. Resistance zone has be broken...next level at $2.80 ...eventual TA target $3.70?
Just keep an eye that it will respect its new support now...there's been a lot of false breaks lately.
The double top bearish fear should now disappear.
Supply worries drive copper to new 9-month high
http://www.theaustralian.news.com.au...018023,00.html
For those looking for a speculative play on copper, Sandfire Resources looks interesting.
http://www.theaustralian.news.com.au...018034,00.html
All blue sky at this stage so DYO careful R.
:D
Holy smoke, the sp have gone up like 1000% :eek:
I like this statement, which is fantastic for IRN...
Incidentally, ABN Amro Morgans last week put out its latest metals report with chief economist Michael Knox saying copper is still cheap. One reason: once real demand starts growing again, the stockpiles will shrink and there are very few new, big copper mines due to start up in the next five years.
Have a look how AVM has moved in the last month or so
from mergermarket....
Tongling Nonferrous Metals Group [Tong Ling You Se Jing Shu], a listed Chinese copper maker, is seeking opportunities to acquire copper mines in Australia, Canada and Chile, a company source said.
Tongling is eyeing copper mines with no less than one million tons in reserves. A green field mine as well as grades of less than 0.5% would not be considered. It should also be near infrastructure such as a harbor or convenient transportation facilities, according to the source.
Tongling has approximately CNY 1.8bn (USD 263m) cash on hand. The budget used for acquisitions will be around USD 1bn. It will raise funds from the China Development Bank or team up with other Chinese state-backed miners to carry out the acquisition if the target value is beyond the budget.
A mining strategist said that Tongling may have a tough time acquiring copper mines in Canada and Australia. He explained that in the wake of the Rio Tinto and Chinalco deal, Australia will not be interested in letting a Chinese company make a bid for a sizable copper mine in the country.
An unnamed Australian analyst said that the larger targets such as ASX listed miner PanAust, which has copper operations, would not be viable for Tongling as its operations are located in Thailand and Laos. Smaller miners such as the ASX listed Exco Resources are more likely, he said. Exco has a market cap of AUD 69.76m (USD 57.34m).
Queensland was given as an area of interest as there would be none of the issues facing Chinese investors such as those experienced by Chinalco with Oz Mineral's Prominent Hill project due to the fact the projects are not near important Government sites, the analyst stated. Anything Tongling looked at however, would not be that developed, he added.
One possible target is North Queensland Metals which has been previously been reported on this news service to be looking to divest its copper assets.
The ASX listed energy player Lodestone Energy, which has copper prospects in Queensland was also contacted, with MD Jeff Jamieson saying Lodestone would consider approaches from Tongling for joint ventures on its copper prospects. Lodestone has a market cap of AUD 25.71m (USD 21.13m).
The Tongling source was unfamiliar with these potential target companies and declined to give any comment on them before seriously checking them out.
Tongling is one of the three largest copper makers in China. China has a lack of copper mines. In 2008 around 90% of copper ores Tongling refined were imported from overseas. Tongling generated revenues of about CNY 37.3bn (USD 5.4bn) and has a market cap of around CNY 33bn (USD 4.8bn).
By Yumin Wang in Shanghai, Page Robinson in New York and Cole Latimer in Sydney
Who is this mickey mouse strategist that is full of shiat?
Make a bid for IRN at $1.50 and it will go to the Chinese. Well, not entirely, Xstrata may come in and trump them with a higher bid. :)
Rumours flying about possible copper manipulation. I tend to disagree. But here is the article from the NBR.
http://www.nbr.co.nz/article/copper-...rumours-106569
Copper prices doubled..yeah but so has Zinc Nickel and Lead see for yourselves at Kitco historical charts.
I don't think people fully understand how much copper is used in the world and the demand for more to be dug out of the ground as recycling can't keep up.
One example
China's population may not be averaging middle class yet, but I bet a large proportion of the population has a cellphone now.
This is modern day accessory that our young kids can't survive without and has to be renewed every couple of years to stay in fashion..... did you know 7% of a cellphone weight is pure copper so imagine multiplying this weight by a billion times .....
If you think copper prices are high now, wait till electric cars comes onto the market for sale next year. ;):)