Member Info for Xhita

I have largely bought back today so not me.

People see weakness in metals on the back of the great trump slump that will result from the stupidity in the middle east.

Personally I don't see it. There will be a slump and manufacturing will be hit globally. However copper production will also be hit especially through sulphuric acid availability

The oil price is escalating rapidly WTI now at $105.

Trump is powerless to influence the market now as his repetitive lies carry no weight. Who would have thought the world would value the word of Iran over the White House but Iran appear in control of the war, negotiations and outcome.

Copper showing some relative weakness but in the scheme of things the price is still very high and this business is making substantial profit at this level.

All is well in at Minos de Rio Tinto. I was there yesterday.

Next week I am driving to Santa Cruz and will stop by Touro to see if there's activity.

Listen this is a discussion board what's wrong with you.

If you don't want to discuss then don't tune in. If I didn't post nobody would and what have you gained.

So please don't complain when someone posts on an unused board as it's ridiculous

Copper price is again very strong. At $13440 a ton this operation is massively profitable.

Daily profit around £540000 on 13000 tons a quarter

So in the joyous event of trump being shot dead would the price of copper increase, would the stock market rally, would the world be a safer place.

I think it may. I have a bottle on ice for such an event.

On other news . Atalaya share price is disconnected from reality. It should be risk weighted around £9.50

Yes Europe is a good place to be, especially Spain where they have 8 refineries churning out diesel and jet fuel. The cheapest electric in Europe and great transport links at the gateway to the Atlantic.

I am here because I saw this as a safe place in times of trouble but here we are progressing worse than airlines that face a summer of cancellations.

I think the main issue is a total lack of visibility. The massive impairment on Q4 could have been presented differently. That would have shown the true €38.6m instead of €14m. At this copper price the works produce around £530k a day profit on 13000 ton a quarter.

I suspect that's much more than many people assume.

Touro in due course will be granted permits. Works are onsite now.

Copper up 0.5% Atalaya down 2.5%

It should be near £10 right now

In the last month copper has added around 52c to the spot price. This increases daily profit by around 24%.

In the same period the share price has increased by just 10%. I am including around 10% for additional costs which increases the leverage of the average copper price. At $6 lb the numbers are extremely robust assuming the mine operates as expected at around 13000 production a quarter. Clearly running lower grade reduces income against very similar costs which was the he scenario during some of Q1 as there was insufficient high grade stockpiled. Hopefully they have learnt from that now.

Current spot is $5.96 lb.

Copper is extremely resilient again.

Back at $5.99 lb.

Outside of their control but could be a factor for at least the next 12 months as global supply capacity is definitely squeezed that's even if someone ended trumps stupidity

26th May the Q1 financial results.

Copper spot by the ton $13,529.34 +231.49

At 144 tons a day for 13000 a quarter.

That's $33000 more than yesterday.

The numbers are very strong at this price. Around £540000 a day profit.

Mine is from the hotel industry here in Spain through the government portal. We are expecting 10% cancellations from May 1st until 14th 20-30% there after.

Yesterday we were told that the EU will be managing supply to distribute jet fuel across Europe because there's some massive vulnerability especially in the east.

The 10% May 1 and 2 has been in place for 3 weeks now.

I suspect there will be flights for those prepared to switch times and airports.

For sure easyJet will be dropping the late flight into Málaga as it's the cheapest and least popular. This will be repeated across the UK departures.

Running out of jet fuel isn't the issue but for sure there's not enough for all the flights this year.

It's hard to imagine looking at the chart that in a few weeks they'll announce an extremely profitable Q1. In the region of €38m

Obviously the current quarter we I'll be more like €50m but it's crazy to see the chart.

I think many are looking at Q4 and missing the €24m one off impairment

The last time copper was a $6 the share price was £10.10.

$6.0041 +0.068 (+1.14%)

We have to assume tha Cobas are prepared to sell at any price.

They must have some serious losses to cover.

Copper remains strong

$5.9945

+0.058

(+0.98%)

At this price Atalaya on an average day produces £1.42m worth of copper. Profit on that is around £528000 a day 7 days a week.

This is boom time for copper producers.

The price on LSE says COM XCU greyed next to Copper so it's the live price of Copper Derivatives (XCU/USD).

The share price ahould in an orderly respond to trend moves in the actual spot price as consistently the average realised copper price has has extremely close to the average spot.

Https://www.kitco.com/price/base-metals/copper

This is the live copper price

Yes I saw that but it was nearly 2 weeks ago. Volume is extremely low with the majority tiny trades. They clearly aren't selling on the market.

There are several issues in my opinion.

People see the Q4 €14.45m profit and don't appreciate that it was actually €38.5m.

The Q1 we had the poor production figures from the near normal plant throughput. This can be seen as negligence not to have at least a few weeks of regular pit stock pile to carry over events like this. Yes it was extreme weather but it was also extreme last year.

The visibility over the current performance. At $5.90 lb the business produces profit of £500k a day 7 days a week. However from the apparent €14m Q4 and 9953 ton Q1 production the visible rewards look much smaller.

Q1 will produce around €38m profit from less than 10000 ton. Q2 around €55m profit.

Again I find myself wondering WTF

Copper up 0.8% share price down 1.6%.

Ultimately this can't continue with the price representing copper at $5 lb when it's nearly $6