RE: 2.9815 Jan 2019 09:37
Morning guys, and well done to TOM nice one, it was the rise in copper overnight that made it shoot strait up but coppers on the retreat again looking like it will return to a similar price as yesterday at around 4.00pm if this happens I recon we will have GLEN back at the 290 mark after closing its gap up this morning.
I have been doing bit more research on copper and the statistics based on current mine productions say that by 2024 there will be a massive increase in demand and that supply just wont be able to keep up with demand therefore GLENDA being the 3rd largest supplier of copper to the market will be in a fantastic position.
As we all know when supply cant cope with demand what happens to raw material prices they rise significantly and FREPORT MCmorans Grasberg mine will only be producing half of what it normally produces and they are 2nd largest copper producer.