COPPER IS HOT AT $3.50/LB AND WILL GET HOTTER,NEW MINES REQInteresting how copper is hitting new highs, but it is not surprising. The world is finally waking up and realizing they need copper and a lot of it to help fill the electric revolution. Copper producers realize their current mines are reaching the end of their useful life and new copper sources are required. My strategic view on Candente Copper is bullish as they have the copper and they have a massive strategic partner with Fortescue who has deep pockets and an extremely savvy management team who isn’t afraid to put their money where their mouth is. Fortescue is in step with China having just signed 12 MOUs with major Chinese steel mills valued in the range of US$3 to US$4 billion. Their strategic interest in Candente Copper not only aligns with their push into copper but also allows them to feed copper hungry consumers and nations…China being a big one.
Analysts at Goldman Sachs said tight supplies meant copper was in a structural bull market and could rise to $9,500 within a year and record highs above $10,000 in 2022. Goldman is also bullish on Candente Copper and recommends it as a buy now.
I will keep accumulating DNT as 2021 should prove to be very rosy.