I don't think it's going to take much or very long for DNT to rise well past the $1/share mark, they have a world class copper/gold deposit and they now have Fortescue Metals Group Ltd, a global leader in the mining industry at their side. Mr Pichot is President of South America at Fortescue responsible for mining, energy and infrastructure and has been now been appointed as a director on the Candente board. The strategic plan for DNT is coming togther and copper is on the radar.
LONDON, Aug 24 (Reuters) - Copper’s increasingly bullish optics are attracting the attention of fund managers.
Speculative positioning on the CME’s HG copper contract is at a two-year high.
Copper has already staged a super-charged rally off its COVID-19 first-quarter lows and CME copper is currently challenging the $3.00 per lb ($6,614 per tonne) level.
That’s one of those “big numbers” that is guaranteed to pique the interest of the automated trading programmes that play in the CME market.
But investors are starting to rethink more fundamentally a market that shows every sign of physical tightness despite the undoubted hit to demand from global lockdowns.