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First Quantum Minerals Ltd T.FM

Alternate Symbol(s):  FQVLF

First Quantum Minerals Ltd. is a Canada-based global copper company. The Company produces copper in the form of concentrate, cathode and anode and has inventories of nickel, gold and cobalt. It is engaged in the production of copper, nickel, gold and silver, and related activities including exploration and development. The Company's operating mines include Cobre Panama, Kansanshi, Sentinel, Cobre Las Cruces, Cayeli, Guelb Moghrein, Ravensthorpe and Pyhasalmi. Its development projects include Enterprise, Haquira, Taca Taca and La Granja. Its operating segments include Cobre Panama, Kansanshi, Trident and Ravensthorpe. The Cobre Panama project comprises a series of copper porphyry deposits with main deposits, such as Balboa, Botija, Colina and Valle Grande. The Trident segment includes the Sentinel copper mine and the Enterprise Nickel development project. Its Ravensthorpe Nickel Operation is an open pit mine and primary processing plant located in the southwest of Western Australia.


TSX:FM - Post by User

Bullboard Posts
Post by bond46on Mar 31, 2016 6:42am
92 Views
Post# 24714136

Copper direction

Copper direction
In the short term let us keep an eye on the LME inventory; if there is a draw-down of stack, it means the Chinese traders keep buying more copper either because they anticipate that at some point demand in China will pick up, or the Rambibi , their currency will depreciate against the $ and they will be able to sell their stack at a profit due to currency differential between the $ and the Rambibi. Last time I checked on the LME inventory, it went down by 2500 tons to 149000tons, a good sign that the draw-down continues. If the inventory in the LME reverses and starts going up, that means the buying from the Chinese or other traders has stopped and that is a cause for worry and most likely selling of the metal will accelerate. For the long term investors, probably there is not an issue, but for the late comers, will most likely be in a loss position till the fundamentals change. GLTA
Bullboard Posts