RE: RE: Agree with blue There's a number of reasons why Lumina is attractive:
1. It has already proved that it has worthwhile copper under the ground.
2. It is still expanding its proven resource.
3. The current value of Lumina means that its underground copper is currently valued at a little over 1.5 cents per lb. The same copper located in Chile instead of Argentina would be worth several times more underground and in some cases twelve times more.
4. Lumina has the potential to JV with neighbours (very likely, and it is not just an opinion).
5. Lumina thinks that someone might take it over (not very likely, as it is currently setup, in my opinion).
6. It is anticipated that copper demand will exceed supply in 2013 which will make this resource more interesting.
7. Lumina has no plans to build a mine. It never has. It's an exploration company pure and simple. You should have known that when you jumped on Lumina. They might inform you how much a mine will cost to build but you need to know that they are never planning to build it.
If you bought Lumina at 15 dollars per share. You jumped on the bandwagon at the wrong time. But don't be disheartened because when Lumina JVs you are going to double your money. If Lumina gets taken over, by some miracle, before it JVs then you might get most of your money back. If Lumina fails to JV then the shareprice of Lumina will probably mostly hover between 6 and 8 dollars per share. The upside is much more interesting than the downside. It's worth being patient at least to the end of 2012 (and I suspect that we'll know for sure within 3 months).