Post by
pulcan on Jul 05, 2022 5:44am
Copper below $3.50 a lbs, NWST target .35cents
hi all, Copper is crashing as noted on my posts and we are below $3.50 now to start the morning. This biggest issue is the US. Joe Biden threating to cut ties with China on trade. This has to be a move of bad things to come like Russia maybe? They know something we do not know? Or is there another Taiwan situation coming soon? All i can say is Copper is being dumped and seems to me there is too much speculation on the recession coming and nobody wants to spend money? As for Northwest Copper we are going lower and the real target of .35cents is too high. We could see .30cents as a base for support and it is real folks! With news coming on Posco last investment of $3 million due and over 6million shares more of dilution our market cap will be close to $50million. This is the best case of what is to come this month. No Drill results, No resource update, Not project update for Lorraine, No PFS update and the worst 6 months in history for a junior with $25million in cash. As for myself nothing i can say or do can change the downtrend on our stock. The worst case is we hang in there and watch the ride down. I will be looking at another entry point to take advantage of more shares. We still are the best Junior Eploration play and once we close our ties with Posco and own everything 100% of all our projects. The drill results and news will flow and thats when we get in together. For now we need to look at these markets and the facts. Nothing positive just a condition we are all facing with our portfolio. I have done over $100k in other assets and dividen payouts and some are Banks, OIL mix. Today with the dollar getting stroner Banks will do well and are cashed up. So for now Copper is in a scary time and follow investing.com see the link https://www.investing.com/commodities/copper, good luck today on your trades. Also the arctile on CHINA trade...https://www.marketwatch.com/articles/biden-rolling-back-china-trade-levies-51657012056?mod=mw_latestnews