Post by
pulcan on Jul 11, 2022 6:53am
Copper move towards $3 a lbs, NWST must hold .30cents
hi all, Copper price now is trending lower and we are in a new range below $3.50 a lbs. This could get worse as we go into the summer and this week Jerome Powell will announce another rate hike. As for copper we could see a move again dropping to $3.40 and to $3.30 range. This is my take on it and if we do $3 is not that far off. As for Northwest Copper good news reporting this morning but not what we wanted. Not sure why they have no drill results on 29 holes for 3months plus while other juniors can get assays from the labs in BC province? Look at Kodiak Copper.....example. Now moving forward the share price is right where it belongs $50million market cap and target .30cents. Nobody cares about the metals as recession fears continue. The biggest probelm we have is the 20vwap and POSCO last tranche of shares will be over 6million more to end the relationship and full ownership of Kwanika is ours. You would think if we had good drill results or any now is the time to announce it and push the price higher? As for us we must hold over .30cents a share or else we could see a touch of .25 cents and just be over $40 million market cap. This is going to be a long summer with no drill results still and no resource calculations, PFS or Lorraine value to the entire package. All the presentations and last year November open house meeting has been forgotten and not supported with this year. So for that keep an eye on the share price and we must hold above .30cents. cheers for now.
Comment by
littledave55555 on Jul 11, 2022 9:21am
Copper price will not go to much farther I believe...before the pandemic is was already 3 dollars American pound.. I think people are worry an pulling out of everything waiting for markets to level out ...an it will, because it always has ...GO NWST GO !!! Electric is the future.. an u will need lots of copper for that