Member Info for schlemiel

Electric cars set to drive the scramble for copper

6 Sept 2018

https://www.smh.com.au/business/markets/electric-cars-set-to-drive-the-scramble-for-copper-20180906-p50248.html

There was a neat illustration of the difference between short and long-term perspectives earlier this week. Against the backdrop of a copper price that has fallen more than 20 per cent in three months there was a flurry of strategic copper-related corporate deals.

The one of obvious local interest was Wednesday’s announcement that BHP had paid $49 million to acquire a 6.1 per cent stake in the London-listed SolGold, an explorer that controls a highly-prospective copper resource in Ecuador, joining Newcrest Mining (14.54 per cent) on the register.

While that shapes up as an intriguing situation – in 2016 BHP offered to buy a 10 per cent stake in SolGold and fund it to the tune of $US275 million in exchange for a 70 per cent interest in its resources but its target preferred to link up with Newcrest – it wasn’t the only copper-related transaction on Wednesday.

cont...

'If the gap between supply and demand does open up from the early to mid-2020s, there will have to be an absolute scramble to secure and develop new resources to replenish and add to their existing copper resources to meet that demand.

While it was a coincidence that there were three copper-related deals struck on the same day, it’s no coincidence that the interest in doing deals that provide access to copper is rising sharply.'

CB

You're indeed correct. You're reading too much into it !! LOL

The invitations to these conferences are sent out months before so it's not as though Mather's in anyway responsible for these events. It's a platform created for many companies to advertise their wares, as it were. Mather's simply taking the opportunity to shout out loud, again and again, about an asset that is both massive and valuable.

We have heard new information from these presentations. For example. The updated MRE is due in November and should be double the original MRE

I know one thing. BHP's taken 6.1% of SOLG and that'll do for me, for now. There's no doubt in my mind that there are corporate developments to come in the months ahead.

just sold its stake in Grasberg for $3.5bn. BHP and Rio are partners in Chile at Escondida (which Mather made reference to in this week's presentation - nudge nudge, wink, wink?)

I wonder if BHP and Rio are looking at Ecuador? Both are cashed up following BHP's sale of their US shale assets for $10.5bn though much of that will be paid back to shareholders

'the world's largest and best copper-gold discovery'

'double MRE in November'

'20% of the world's copper resources'!!!!! that's quite incredible

'BHP think it's cheap'

Newcrest 'at the moment' - 'and they can't make life difficult for us'!! What does he mean by that? If we get a massive offer Newcrest cannot block it.

This is not going to production no matter what Mather says. Mather's continually stating that Newcrest does not have a blocking stake.

BHP 'without even calling us'!! LOL...what is the inference here? Is he suggesting hostility?

'Water for Escondida cost $3bn'...water is absolutely essential for copper mining etc - lots of water at Cascabel - massively improves the project economic

'found another core at Hole 64 at Alpala' 'the mind boggles at what could be there'!!

other tenements - Blanca tenement - 'very interested'

Message to the majors = show us the money, doreen, I mean honey

That's what it is, nothing.

but what does it signify though? Interesting as I've never seen that before

It's administrative

https://www.afr.com/markets/commodities/metals/coppers-robust-dynamics-clash-with-futures-gloom-20180927-h15xr0

Sep 27 2018

Copper's robust dynamics clash with futures gloom

cont....

thanks to AFR.com

L41 - thanks - a bit of ramping then from t'other forum

A poster on t'other site says he can't get a quote online. I can't believe that's the case, surely?

https://angrygeologist.blogspot.com/2018/09/alpala-resource-update.html

-

Yes, I called him an old bore but he does have his uses!

Apologies to all old bores of which I am one tho' not that old, just ageing

TI - Yes, that's the one. Meyer's also of the opinion that Cascabel is a project so large it can only be handled by one of the majors - BHP, Vale, AA etal. I don't believe Newcrest comes under the category of a 'Major'.

Yes, the price is undecided as it waits for BHP or indeed one of the other majors to make their next move. After listening to John Meyers (SP Angel) interview dated 10-Sept I don't believe it will be long before we find out. Meyer described BHP's recent move as 'hostile' though he did also say SOLG's other tenements could contain real value as well

I love the fact that BHP's appearance on the register is price supportive as the market expects BHP to make another move

Anyway, I've got better things to do with my time than exchanging hairy arse banter...the wife's calling. She's dropped her teeth down the toilet again and wants me to fish them out. good fortune one and all...off for a dump

There's fart-too many anal references on here today for my liking. It's putting me off my lunch

12pm is auction time for fully listed stocks -

kk - he means a punter's bought stock at 37.5p not the market's paying 37.5p to take stock from you

RNS lodged in the system?

Is BHP buying direct from the open market?

news?