RE:RE:PatienceI'm going to remain patient with this one. As a reminder, the recent drop in short term copper commodity pricing has no impact on copper market dynamics when this mine will actually be producing copper.
I think we are going to see significant cost inflation in mining due to the recent rise in copper pricing. A continued cooling in the short term copper price may help keep input costs and capex from spiraling out of controll which has occured in prior cycles. Lower copper commodity prices may also give the Chilean government some pause on whether to seriously consider increasing tax rates and royalties, since that could make some marginal projects uneconomic. It seems to me that a sub $4 copper price now will help accentuate how the highest quality and lowest cost projects such as Marimaca stand out. All projects including the highest cost projects out there look attractive at $5 per pound copper.
I wish it was a straight line up too but hope doesn't produce investment returns. For what it's worth in my opinion the share price is bottoming out now relative to fundamentals. It seems the independent analysts agree,