Celtic Exploration Ltd CEXJF

RE: Sprott sums it up best

[longbond]

Hi jack Too abd you sold CLT...there was a tour of the red dog mine this past week and I think analysts liked what they saw. I gess I am holding this one for the long termand dont mind getting teck shares. I think one day teck will convert into one share structure and up and away. I posted this copper forecast on GNM and look at INMET - fully leveraged to copper and trades at cash: COPPER IS going to one dollar according to SCOITAMCLEOD „ Copper Forecast: The copper market continues to strengthen during Q3/00, a trend first established in early 2000. London Metal Exchange (LME) inventory levels have declined from 845,000 tonnes in early March to current levels of 453,000 tonnes. Increased consumption of copper has been driven by strong world economic growth, led by the U.S. There are no new copper mine projects expected to be in commercial production before 2002. Combined with a limited 1.6% growth in supply to 12,400,000 tonnes (12,400 KMT), the copper market is poised to experience a net supply shortage (i.e., demand exceeding supply) of 200,000 tonnes this year and, most importantly, a further shortage of 500,000 tonnes during 2001 (see forecast table below). On the back of a strengthening physical market, history dictates that copper prices should begin to experience upward pressure. Three-month copper prices have moved up from US$0.81/lb in early July/00 to current levels of US$0.85/lb. Not withstanding the weaker summer demand period through to mid-September, copper prices should continue to increase through Q4/00. We expect copper prices will move toward the US$0.95/lb level by year-end 2000 and continue upward to US$1.05/lb in 2001. We note the ten-year average price of copper is US$1.01/lb. Total inventories should remain low and the physical market should remain tight. Consequently, the metal price should move up to just above the ten-year average price level of US$1.01/lb. We forecast prices will average US$0.90/lb in 2000 and US$1.05/lb in 2001.