Member Info for Retour_du_Renard

ifonly - Nope but I do think PFC will fester around the 600 point for a few months until the contract situation resolves.

Hopefully another positive legal RNS later.

Looks pretty solid. Thoughts?

Ben - Does it mention if that target will be hit in the morning or afternoon sessions?

It was just the warm-up RNS for the one at 15.00-15.30 today.

Even without an RNS!

ifonly - PFC desperately needs some big contracts announcements otherwise I think it could fade into the mid-500s again shortly as shorters start to pile back in on the lack of news. It's had an amazing run but not a lot of contract news to support it.

JMP - Personally I think the reason to drop has somewhat diminished. Copper was really bruised earlier and seems to have come to the end of it's negative run (especially with China back online tonight) and I can see a run on copper on the expectant uplift tomorrow. That and' expectation pressure' I think will see it hold this range and slowly 'chip up' towards the mid-350s.

Qz - Traders have had 5 days of heady excitement. Time for a RNS inspired bounce. 30-40p would be nice.

JMO - Pretty sure the next RNS will have a picture of Ivan and Dan nussling meat balls and spaghetti between each other and sharing a furtive glance of a glass of chianti. 1) Agree some sort of payment mechanism to Gertler. Either straight cash or licensing rights etc 2) Gertler to ask buddies in DRC courts to drop suspensions. Everyone happy. This is clearly being used by DRC to go after Glencore who are the most powerful detractors in the tax rights situation, the other thing creating problems for miners in the country. Last thing anyone wants is a sizeable portion of the world's copper output to fall into the hands of what are essentially jumped up warlords.

Qz - It's had plenty of excuses to be pushed further down today but has held here. Copper is clearly being messed around with due to 'Daddy' being on holiday and will no doubt be back up tomorrow on his return. As I've said before I think we are now looking at people just waiting for the next RNS to drop.

Hi SD - I don't think that will happen now. The RNS should only be positive and resolutive. Copper is down 1% and it's been hit accordingly but has settled at this point. People are waiting for an RNS and don't want to be out as it could add at least 8% to the current SP regardless of copper. Remember China is closed today.

JMO - Problem is lawyers are now involved and they are on the clock !!!!

Decent peppy RNS and this thing is back in the 370s today. Surely these guys know the pressure is now on.

No doubt someone will get shares in some operation and a nice new shiny car and the the threat of the operational freeze will be lifted. If the threat the a significant copper producer and world supply was valid then copper would have gone crazy today. It didn't which makes me think we could an RNS shortly stating that the threat has been lifted and they are working on negotiating Gertners amount.

JMO - I think that list should be renamed 'Who is best at concealing corruption' with Denmark at the top and purveyors of Nazi gold , Switzerland being just behind.

Fair points. Syria and Eritrea look like good options too.

LS - I think you can say that about most mining operations to be honest.

They can't pay him without getting in trouble in the US. This is the impasse. What Glencore could do in the background is get the US Foreign Office to exert the sort of pressure only they can.

Needs an RNS to send this spinning back up quickly. I would have expected GLEN's legal team to have pulled most of what they need to together and have the wheels in motion by now. Fact of the matter is, GLEN have stated that would pay this guy commissions but under the US embargo they can't. So it's a bit off a Catch 22. That said I can see a peppy RNS coming out in the next few hours to stem this fall and keep the market in check.