Copper on the move againOnce again copper broke new year highs. There is no doubt in my mind that copper will break 3 bucks but the question is can it hold 3 bucks. Those Chinese pig farmers must be jumping around in the mud. If the economy is in fact actually turning around then my bet is that it will hold 3 bucks.
Did anybody catch NOT.v CEO on BNN this week. The interviewer has no concept about junior mining. She keeps asking a question on when the mine will be up and running. I could be wrong but I don't think they put out a 43-101. Also in the interview the CEO says nickle is going to hold it price. It's real funny since the last hole they reported had major nickle and I'm no expert but it sounded like they didn't really step out from the current deposit. He figures copper is going down. I guess he figures those Chinese pig farmers are going to sell out to drive the price down. He didn't say anything about chromite. I guess if they hit it on the next hole then they'll be pumping that up. Anyhow the reason I brought this up was just for fun lets make a comparison between COP.to and NOT.v.
COP has a 43-101 and is waiting for a permit. If they do get a permit then expect more drilling for more resources. NOT has drill results and the last one was very good but they still need more drilling to see what they really have. COP had a big hit at Llancahue but that was only one hole. NOT is way out in the boonies and there is no infrastructure. COP is on the verge of a permit and a mine. Last but not least. NOT share price $2.07 for a market cap of 320Mil. COP share price .285 for a market cap of 22.6 mil. Either NOT is way over priced or else COP is way under priced. I say both NOT is over and COP is under.
On Friday there wasn't much action in COP so I would say there's no news leakage.
If the perfect storm hits then copper is over 3 bucks say 3.50, COP gets the permit and the shares take off. BTC picks up another 27 mil shares @ 18 cents. They will own 54 mil shares. I have no idea what the share value will go to but one bucks seems doable if copper is over 3 bucks at the time. So 54mil @ 1 buck gives them 54 mil on paper. Not a bad investment considering they have to pay 7.86 mil for the shares. So were pulling for a perfect storm.
MM