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HUM CEO updates on the Yanfolila Gold Project now fully funded.


Member Info for JDwag


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Member Since: Mon, 16th Jan 2012

Number of Share Chat Posts (all time): 5,810
Number of Share Chat Posts (last 30 days): 74

Last Posted: Today 11:37


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Today 11:37

Final Results were realised on 14 October 2016.

http://weatherlyplc.com/wp-content/uploads/2016/11/26294_WTI_Annual-Report-2016.pdf

Next report will be the Interim Report on or before 31 March 2017 for the 6 months from July – December 2016. Nothing expected on that front till the new year.

Next big news (unless we get a surprise with Tranche D repayment this Friday 9 Dec) is the Q4 2016 updated in Mid Jan (probably 19 Jan 2017). Only 6 weeks away now. That will show exactly what we are making! I'm expecting it to be very good now!

JD
Today 10:40

If that is right or close to being right then 4.5% growth in 2016, 4.5% 2017 and 2.7% 2018 would completely alter the supply / demand dynamic that was being expected, it would move prices way beyond £6k+ as you would conceivably be looking at a 7 figure Cu Tonnage deficit as soon as 2017 / 2018, that would be explosive for Cu Prices! Keep a look out on the combined totals of the LME, SHFE and COMEX Cu Bonded Warehouse Stocks, that is where that would show up first I would think!

On Otjihase, I agree, by announcing via an RNS I suspect they are much further on than they may let on, also talking about ‘low cost’ production they have clearly done enough analysis to be confident in that statement, they have the equipment on the ground and it’s now obviously all about being methodical in getting the requisite training to the required on the ground personnel to be confident before starting it up. If Cu Prices play ball I think it will be up and running pretty quickly in 2018 / 2019 too, as you say, it’s an under promise and over deliver from the BoD I think. In a bull Cu Market, I don’t see raising $10m or so a big issue for a very profitable 10-12k tonnes per year.

I don’t think so on Tranche D, looks like it is all getting rolled over into a debt repayment schedule in Feb 2017, means we just have to wait a bit longer for certainty on that front. No issues in getting it of course, Orion (at current Cu Prices) are taking some $600+ per month out of the $5k per tonne option, it will 100% be rescheduled.

Interims are released in March I believe!

JD
Today 09:22

https://www.ft.com/content/609af472-bb13-11e6-8b45-b8b81dd5d080

Very bullish on Supply and Demand side Cu.

JD
Tue 22:42

Lol, yes, paltry indeed.

JD
Tue 16:56

Even at a poultry 2% annual world Cu growth (some are predicting more) at 22m tonnes per annum current use Wood McKenzie are predicting a world Cu annual shortage of circa 4m tonnes per annum very early in the next decade, I personally now think these are the first cracks in this supply side coming to the fore, to counter that you would need 4 brand new Escondida size Mines or 8 brand new Las Bambas size Mines to be in or at construction just now, the world doesn’t even have that number at exploration stages and would need current world production to be maintained (badly faltering under poor ore grades).

Codelco and the Chilean government are only coming up with enough cash to sustain current Cu levels at their Chilean Mines, and considering how Chile’s Cu Production has gone south this year, I doubt it’s even enough.

http://www.mining-journal.com/world/centralsouth-america/chile-feeds-golden-goose/

The Los Bronces Mine (400k tonnes last year) for example is still shut after it was invaded in November twice. The future should be very bright indeed for quality Cu Producers.

JD
Mon 07:05

Very robust Caixin PMI Data out of China this morning responsible for the rise, China looking much better for the demand side.

JD
Fri 13:01

Article shows the ‘dwindling availability’ (their words) and as such ‘Dwindling availability has fed into spreads which have tightened sharply – with the cash / Dec spread moving into a backwardation yesterday of $5. The cash / Feb was trading level, while cash / three-month was at a contango of just $3.’ Showing ‘on-warrant material at 137,675 tonnes is the lowest since July.’:

https://www.fastmarkets.com/base-metals-news/aluminium/lme-morning-copper-spreads-tighten-as-availability-falls-zinc-cancellations-at-feb-high-124905/

Also interesting to compare against the SHFE stocks, fell also this week:

http://www.shfe.com.cn/en/MarketData/dataview.html?paramid=weeklystock

Not often you observe weekly falls in LME and SHFE as usually stocks are being shifted between the two for arbitrage, etc.

JD
Thu 19:53

Interesting development that has been mentioned on here before:

http://oilprice.com/Metals/Copper/Copper-Prices-To-Rocket-In-2017.html

JD
Thu 13:05

http://www.smh.com.au/business/mining-and-resources/bhp-australia-copper-mine-hit-by-another-power-outage-20161201-gt250x.html

While in itself not a massive amount of production lost (Olympic Dam Mine lost maybe 4 hours of power and Prominent Hill Mine lost maybe 6 hours of power), it raising big issues coming into Australia’s blistering summer season (and fire season) where further blackouts are expected.

BHP (Olympic Dam Mine – 203k tonnes per annum Cu) and Oz Minerals (Prominent Hill Mine – 125k tonnes per annum Cu).

JD


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