Small Holding
15 Dec 2017
Re: Copper $3.08... QuackersThis is a pure copper play (as said by Alberto) so when the copper price falls Atalaya tracks that movement.However,when copper rises, contrary to expectations Atalaya either treads water or falls.Perhaps the Spanish translation of a "pure copper play" is different to our English interpretat
quackers1
15 Dec 2017
Re: Copper $3.08... Up over 311 now. Must mean SP down, let me check, erm yes
Accypete
15 Dec 2017
Re: Next Major Event - Annual Report Thanks,lets hope either of the reports can light the blue touch paper and send the SP into the sky (wishful thinking!!)
Small Holding
15 Dec 2017
Re: Next Major Event - Annual Report "I assume the next annual report is due for release by 31st December 2017."I'm afraid not, the year end is December 31st 2017 but the Annual Report won't come out till April (6th April this year)The next news should be the Technical Report for Touro which they said would be released Q4, so they have 16 days left.
Accypete
15 Dec 2017
Next Major Event - Annual Report Hi,we had the last annual report for 31 December 2016.I assume the next annual report is due for release by 31st December 2017.What can we expect as the high lights of 2017?Will it be the "low expectation - over delivery" that Alberto is well know for and what effect will it have on the SP?It was commented that the SP could be 270 by end of 2018, hope so.
Small Holding
15 Dec 2017
Copper $3.08... ...at the time of writing.Now where is that Touro Technical ReportWe won't get it today because it is "no news Friday"
Rhodium45
14 Dec 2017
Copper price creeping back up Back over 3 now.
Rhodium45
14 Dec 2017
China November figures analysed China's Nov commodity imports confirm trends; copper the outlier:[link] from the article:"The major commodity where it does appear that November was unambiguously strong is copper, with unwrought imports of 470,000 tonnes, the strongest since December last year, and up from both October’s 390,000 and September’s 430,000.The three-month average is 430,000 tonnes, which is well above the 385,500 average for the first 11 months of the year.Imports of copper ore and concentrates were also strong in November, coming in at 1.78 million tonnes, up from October’s 1.4 million and September’s 1.47 million.The three-month average of 1.55 million tonnes is some 8.4 percent higher than the 1.43 million average for the first 11 months of 2017, indicating that China’s copper demand is accelerating.While there is a seasonal pattern to copper demand in China, with manufacturing demand ramping up in the fourth quarter, it does appear that China is reversing the trend for most of the year toward slower copper imports."...
Small Holding
13 Dec 2017
EV world - metals required www.mining.com/much-copper-nickel-cobalt-electric-vehicle-world-needs/This is how much copper, nickel, cobalt an electric vehicle world needsGlencore's investor day on Tuesday painted a positive picture not just of the Swiss miner and commodities trader's business but also had good news for the mining industry as a whole.Glencore commissioned CRU to measure the impact the global shift away from internal combustion engines to an electric vehicle market would have on metal markets.The London-based research company modelled metal requirements across the supply chain – from generation and grid infrastructure through to storage, charging and vehicles – based on relatively modest penetration of EVs in the total global vehicle market out to 2030.According to the study as early as 2020, when EVs would still make up only 2% of new vehicle sales, related metal demand already becomes significant, requiring an additional 390,000 tonnes of copper, 85,000 tonnes of nickel and 24,000 tonnes of cobalt."As early as 2020, when electric vehicles would still make up only 2% of new vehicle sales, related metal demand already becomes significant"Based on an EV market share of less than 32% in 2030, forecast metal requirements are roughly 4.1m tonnes of additional copper (18% of 2016 supply). The move away from gasoline and diesel-powered vehicles would need 56% more nickel production or 1.1m tonnes compared to 2016 and 314,000 tonnes of cobalt, a fourfold increase from 2016 supply.Glencore said the company will double its cobalt output to 63,000 tonnes by 2020, mostly as a result of restarting its Katanga mine in the Congo. Katanga would also lift copper production to over 1.6m tonnes by then from 1.3m tonnes in 2017. Glencore is growing nickel production by more than 20% to 142,000 tonnes over the same time frame.The glaring omission from the graph is lithium, the basis for almost all vehicle batteries, but Glencore CEO Ivan Glasenberg told the media he had "zero interest" in lithium: Although the market is currently strong, predicting future price levels is difficult as lithium is abundant and many new projects are under way.
Rhodium45
12 Dec 2017
Something to keep an eye on next year Copper giant Chile gears up for busiest year ever of wage talks:[link] — Copper forecasters are reassessing their projections as the top-producing country prepares for its busiest year ever for wage talks just as a new labour code comes into effect and higher prices inflate pay expectations.Chilean mines will negotiate contracts with 32 unions next year, representing about three-quarters of the country’s copper output, or about one-fifth of world production. Globally, labour negotiations could trigger disruptions at mines producing about 40 percent of supply, according to Barclays Plc, which this week raised its price estimate.While prospects of slower Chinese demand growth have sent copper back below $7,000 a metric ton in the past few weeks, supply is also constrained after years of cutbacks spurred by low prices.That means any disruptions resulting from strikes could quickly tighten up the market — as happened this year with stoppages at Escondida in Chile and Grasberg in Indonesia. If that happens, prices could go back above $7,000 in the first half of the year, Bank of America Corp. analysts said last week.... (click on the link above for rest of the article)
Small Holding
11 Dec 2017
China - Copper demand [link] Nov commodity imports confirm trends; copper the outlier: RussellLAUNCESTON, Australia, Dec 11 (Reuters) - The sharp rebound in China’s imports of major commodities in November was more of a return to normal service than any sign of a resurgence in demand in the world’s largest buyer of natural resources.Certainly, it’s appealing to look at the November numbers and conclude that China’s appetite for commodities is storming ahead, but that ignores the reality that the data was affected by the week-long holidays in early October.In the past three months, China’s commodity imports were extremely strong in September, with record iron ore purchases, unbelievably weak in October and now roaring back to strength in November.A better tactic in understanding the dynamics of China’s commodity imports is to average out the past three months and then try to discern the trends.NATURAL GAS, COPPER STAND OUTCertainly, natural gas imports have surged, with customs data showing pipeline and liquefied natural gas (LNG) supplies reaching 6.55 million tonnes in November, surpassing the previous record of 6.1 million from December last year.The split between volumes from pipelines from central Asia and LNG imports will be known in about two weeks, but shipping data suggests that November LNG imports will breach 4 million tonnes for the first time.The major commodity where it does appear that November was unambiguously strong is copper, with unwrought imports of 470,000 tonnes, the strongest since December last year, and up from both October’s 390,000 and September’s 430,000.The three-month average is 430,000 tonnes, which is well above the 385,500 average for the first 11 months of the year.Imports of copper ore and concentrates were also strong in November, coming in at 1.78 million tonnes, up from October’s 1.4 million and September’s 1.47 million.The three-month average of 1.55 million tonnes is some 8.4 percent higher than the 1.43 million average for the first 11 months of 2017, indicating that China’s copper demand is accelerating.While there is a seasonal pattern to copper demand in China, with manufacturing demand ramping up in the fourth quarter, it does appear that China is reversing the trend for most of the year toward slower copper imports.Unwrought copper imports were 5 percent lower in the first 11 months of 2017 compared to the same period last year, a slower rate of decline than the 9.4 percent drop for the first nine months of the year.Overall, the November commodity import numbers largely confirm the trends already in place, namely good growth in crude oil and iron ore, strong growth in LNG and perhaps a slight easing in demand for coal.The outlier is copper, which appears to be reversing its weaker trend for the first three quarters of 2017.
Rhodium45
09 Dec 2017
Prices recover after record Chinese imports Iron ore, copper prices recover after record Chinese imports:[link] and iron ore prices bounced back on Friday after customs data showing a sharp increase in imports by China as the country's winter anti-pollution program cuts down domestic refinery and blast furnace production.In brisk trading New York Comex copper for delivery in December added nearly 1% from Thursday's settlement price touching a high of $2.9915 a pound ($6,595 per tonne). Copper is still down sharply for the week after suffering its worst one-day decline in almost three years on Tuesday.November customs data from China showed import volumes of unwrought copper rose sharply totalling 470,000 tonnes during the month, up more than 42% from October and the highest since December 2016. While imports were up 23.7% from November last year, cargoes are down some 5% over the first 11 months of 2017 to 4.24m tonnes compared to the same period in 2016. Full year imports in 2016 hit a record 4.94m tonnes.Shipments of copper concentrate in October increased slightly from last year to total 1.78m tonnes in November, a new monthly record and up nearly 30% from October's disappointing figure. Year to date Chinese concentrate imports are up moderately from last year. China consumes nearly 50% global copper output."Chinese traders appear to have bought more copper abroad because some copper smelters in the country have reduced their production for environmental reasons or because the traders expect production to be cut," Commerzbank analysts said in a note."The fact that copper concentrate imports climbed to a record high in November does not tally with this argument, however. It points rather to an ongoing high level of refined copper production in China."
Small Holding
08 Dec 2017
Re: They wanted £39m they got &po... "£8m required - did they ever get that EU grant?"RhodiumNot yet is the short answer, they don't need it as we know the ramp up will be ahead of schedule and under budget!
Small Holding
08 Dec 2017
ChinaÂ’s imported unwrought copper [link] Administration of Customs: China’s imported unwrought copper reaches 470,000 tons in November, setting new high since December 2016SHANGHAI, Dec.8 (SMM)－China’s imported unwrought copper reaches 470,000 tons in November, up 24% on yearly basis, setting new high since December 2016, according to data from General Administration of Customs.China’s imported unwrought copper reaches 4.24 million tons in from January to November, down 5% on yearly basis. The data shows China’s imported copper ore and its concentrate reaches 1.78 million tons in November. From January to November this figure is 15.7 million tons.
Rhodium45
07 Dec 2017
Re: They wanted £39m they got &po... A price of £1.60 MIGHT have generated more interest ---------- ---------- ---------- --Maybe. But, knowing our luck, it might just have dropped the SP to match the offer price.£8m required - did they ever get that EU grant?
