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Imperial Metals Corp T.III

Alternate Symbol(s):  IPMLF

Imperial Metals Corporation is a Canada-based exploration, mine development and operating company. The Company’s holdings include the Mount Polley mine (100%), the Huckleberry mine (100%), the Red Chris mine (30%). The Company also holds a portfolio of about 23 greenfield exploration properties in British Columbia. The Mount Polley copper/gold mine in south-central British Columbia is owned 100% by Mount Polley Mining Corporation, a wholly owned subsidiary of the Company. The property encompasses about 24,096 hectares (ha) consisting of seven mining leases and 52 mineral claims. The Huckleberry copper mine in west-central British Columbia is 100% owned by Huckleberry Mines Ltd., a wholly owned subsidiary of the Company. The property encompasses about 25,767 ha, consisting of two mining leases and 49 mineral claims. Red Chris Development Company Ltd., a subsidiary of the Company, owns a 30% beneficial interest in the Red Chris copper/gold mine in northwest British Columbia.


TSX:III - Post by User

Bullboard Posts
Post by impeon Jan 31, 2015 1:37pm
163 Views
Post# 23385081

Scotiabank: Copper 'likely oversold' Frik Els | January 30,

Scotiabank: Copper 'likely oversold' Frik Els | January 30,

Not surprisingly the Commodity Price Index compiled by Scotiabank plunged in December to levels last seen during the global financial crisis.

The index was down over 10% compared to November and 15.4% year on year which the bank ascribes to "a fight for market share in international oil and iron ore markets as well as general unease over lacklustre global economic conditions and an almost ‘deflationary’ environment."

Apart from iron ore and oil where a market glut explains most of the downside, bellwether copper has been one of the hardest hit commodities.

In New York trade on Friday copper futures advanced nearly 2% on the back of a huge rally in oil and a comeback in the gold price, but at $2.50 a pound remains near mid-2009 lows.

Patricia Mohr, Scotiabank economist and commodity specialist, points out that even today's price "yields a slight 10% profit margin over average world breakeven costs including depreciation" and that the red metal has likely been oversold.

Copper has likely been ‘over-sold’, given the fifth-highest imports into China on record in December, new fiscal stimulus by Beijing to spur the economy (speeding up spending on 300 infrastructure projects) and a planned 24% increase in capital spending by the State Electricity Grid (likely geared towards copper cable).

Mining companies have recently cut projected output for 2015 by 300,000 tonnes (Rio Tinto at Kennecott, BHP Billiton at Escondida and Glencore at Alumbrera), helping to trim an expected surplus this year to a modest 250,000 tonnes.

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