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Base Metals


trader10
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In reply to: vind on Tuesday 19/02/08 08:20am

Thanks for the article Vind,

It actually mirrors what i've been thinking(for what it's worth).

Even though specs are having a bad run atm, i continue to buy small stakes in companies with the potential to host high grade deposits on their tenements.

Probably come back and bite me on the bum, but worth the risk IMO.

Seeya

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Always thought along them lines Reginald, If you look at the 60 day charts you will clearly see the change of trend for pb ni zn al and cu , so my guess is we are entering the next leg of this bonanza .....Lawrence sees no end to this comodities boom .. ... Lawrence mentions why he makes these preditions quote...............................In a single decade, China has gone from obscurity to become the fourth largest economy in the world. India and most of Southeast Asia are also booming. Three billion people are modernizing at the same time. It will not stop any time soon.

 

There has never been anything like this in history. There is no precedent for the economic forecasters. No pattern to plug into a computer model. ...........Cheers

 

 

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Steep price gains for nickel, copper and lithium producers are attracting fund managers to the industrial metals sector as leading producers are starting to opportunistically raise capital and arrest a period of underinvestment.

 

Copper miners Oz Minerals and Sandfire Resources are up 214 per cent to $18.83 and 107 per cent to $5.80 respectively from the lows of March. Iron ore and lithium play Mineral Resources has rallied 177 per cent to $34.97. Nickel and gold miner IGO, which announced a lithium deal on Wednesday, is up 50 per cent to $5.04, and nickel producer Mincor is higher by 167 per cent to $1.08.

 

Prices for industrial metals are reflecting the prospect of synchronised global economic growth in 2021, said an analyst. In addition, the market had broadly underestimated Chinese demand, he said.

 

The base metals sector has shrunk, with only three dedicated copper miners left in Australia. There has been a steady consolidation and aggregation of the base metal players, so we are not left with a wide field [to choose from], said Romano Sala Tenna, portfolio manager at Katana Asset Management.

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