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     perler59
Member
Username: perler59
Post Number: 525
Registered: 09-2003Rating: N/A
Votes: 0
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| | Saturday, February 05, 2005 - 12:30 pm: | 
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As I suspected, oil reversed and light crude is now testing minor support at $46. What next?
I can NOT control the markets, so I MUST control myself.
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fox_terrier
Member
Username: fox_terrier
Post Number: 326
Registered: 10-2003Rating: N/A
Votes: 0
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| | Monday, February 07, 2005 - 11:39 am: |
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Hi guys,
Attended a great wedding on Saturday night and got talking to a BHP geologist.
He is a base metals man (not gold savvy)and he made the same comment i have seen mentioned on this forum before : "we are running out of metals".
The purpose of this post is to ask you guys if any of you have any knowledge of Robert Champion de Crespigny's activities at present.
My geologist friend heard he is sniffing around some copper interest in the Mount Isa area.
Any info appreciated.
Cheers
FT
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vermante
Member
Username: vermante
Post Number: 243
Registered: 11-2002Rating: N/A
Votes: 0
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| | Monday, February 07, 2005 - 11:55 am: |
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fox_terrier
Source - Comsec
Company Details
Buka Minerals Limited
Trading Status: Trading
Former Names:
ACN:000 741 373
Chairman:Robert Champion de Crespigny
MD:John Richards
Level 45, 2 Park St
Sydney,NSW 2000
Tel 02) 9264 5515
Fax:--
http://www.buka.com.au
Cheers
Vermante
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fox_terrier
Member
Username: fox_terrier
Post Number: 327
Registered: 10-2003Rating: N/A
Votes: 0
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| | Monday, February 07, 2005 - 12:19 pm: |
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Hi Vermante,
Thank you for the prompt response.
How did you find out this info?
Cheers
FT
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vermante
Member
Username: vermante
Post Number: 244
Registered: 11-2002Rating: N/A
Votes: 0
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| | Monday, February 07, 2005 - 12:44 pm: |
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Hi Fox-terrier
Through reading company announcements , reports etc. The name just happened to stick in my memory.
Cheers
Vermante
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rederob
Member
Username: rederob
Post Number: 602
Registered: 10-2002Rating: N/A
Votes: 0
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| | Thursday, February 10, 2005 - 08:14 pm: |
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perler
On oil you asked, "what next"?
Is seems OPEC is not unhappy with oil over US$40/bbl and are reluctant to change quotas up or down.
So I think a rangebound figure of $43-46 could prevail for a while.
On base metals:
Chinese new year has thinned the markets but not subdued them.
A weaker greenback is pushing metals higher tonight and I expect this will continue for a few weeks to come - I believe the pendulum has swung back in favour of the euro and the trend to kick in.
Nickel inventories will take a big hit in the next few days as cancelled warrants presently account for 30% of warehouse stock - don't be surprised if nickel prices react as sharply.
Copper backwardation continues to attract metal on warrant into LME warehouses, so tightness will ease somewhat.
On the other hand, in near months, a number of producers in Japan , Korea and China are going into maintenance mode for a month or more: So don't expect the demand imbalance to change for a good while yet.
Note also that COMEX warehouses continue drawdowns.
We won't have any news from Shanghai till Friday week.
Meanwhile Zinifex is nearing my preferred buy-in price - another 40cents off would help, thanks.
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rederob
Member
Username: rederob
Post Number: 613
Registered: 10-2002Rating: N/A
Votes: 0
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| | Tuesday, February 15, 2005 - 09:19 pm: |
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BHP post their half year result and it's tipped to break all records.
This comes as base metals and oil continue to climb into 2005 - with the greenback losing some ground in parallel.
I did buy BHP - at $16.94 - so will hope the planets are aligned.
By the way, nickel's cancelled LME warrants are still running at 30% of deliverables, so offtake will rule the price and a foray to $17000 is not beyond the imagination.
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hilarius
Member
Username: hilarius
Post Number: 493
Registered: 04-2004Rating: N/A
Votes: 0
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| | Tuesday, February 15, 2005 - 09:25 pm: |
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Rederob
I watch BLT in London and it has been climbing strongly since Thursday ... but so did RIO before the announcement and then it dropped like a stone
Apparently the know alls fully price the stock to include the announcement and then sell like there's no tomorrow
As a fellow holder of BHP I hope I am wrong
And as Nightstalker says of the less nimble ... Buy, Hold and Pray!
Hilarius
I come in peace to share my thoughts and to shine my candle light on possible long term opportunities
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rederob
Member
Username: rederob
Post Number: 614
Registered: 10-2002Rating: N/A
Votes: 0
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| | Tuesday, February 15, 2005 - 09:35 pm: |
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Thanks Bro Hilarius
The difference may be that BHP is iconic, so funds cannot hold back the hoi polloi
Then again, maybe the great unwashed want to offload on a high
Now I am confused
Thanks for the tip Nightstalker
Looks like the pews will be chockers
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rederob
Member
Username: rederob
Post Number: 615
Registered: 10-2002Rating: N/A
Votes: 0
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| | Wednesday, February 16, 2005 - 08:37 am: |
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....from Dow Jones newswire last night:
While producer selling was noted at the highs, brokers said the strong close bodes well for further gains to the October high of $3,177/ton in the days ahead.
But this area has provided formidable resistance since then and only a relatively swift break will negate a sharp corrective fall.
Following copper's positive lead was aluminum which also managed to attract the support of the funds and climb to a six-week high at $1,875/ton.
Aluminum's biggest challenge in the short term is to break through this resistance area, a move which would bring the December high at $1,973.50/ton into focus.
Nickel got off to a slow start but found support at $15,100/ton, the previous session's low, during the pre- arket.
Thus, BHP gets a kick start to its 6monthly report due to near-term record highs, and with oil still over $47/bbl.
Can BHP surprise with a takeover counterbid on WMC to boot?
.....all will be revealed......
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rederob
Member
Username: rederob
Post Number: 617
Registered: 10-2002Rating: N/A
Votes: 0
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| | Friday, February 18, 2005 - 11:34 pm: |
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Somehow copper's 16year high escaped market attention in Oz today, and nickel's resilience has also passed without notice.
Should there be further USD weakness tonight, the base metals will climb further - with nickel my short term favourite.
At the equity level, SMY is one stock that could move quite sharply higher next week as its production of both metals is above forecasts, and its baseline metals prices were significantly lower than they are now receiving(downside of sorts due to Tramways cost blowout - tho that project is still cash positive).
I think those that keep wanting to put a lid on China's influence fail to understand the nature of what is happening to the country (I have never been there, but read as many reports from various web sites as I can).
First, infrastructure projects are not 12months long (try 4-5 years as a guide), and they cannot possibly all start at once. So suggesting all would be over by end 2004 was fanciful.
Secondly, it's not just infrastructure driving metals demand. China is facing a drift of about 20 million (probably the conservative guesstimate) people a year into its city precincts, plus, commercial building and factory construction is fast paced.
Thirdly, individual wealth is increasing, thereby spurring internal demand for household goods that we take for granted, plus car ownership. (It's a bit analagous to everyone on the Eastern seaboard of Australia moving to live in Western Australia and wanting to be housed, serviced etc, year after year after year - mind boggling stuff).
Key to China's ongoing prosperity will be energy - not just oil, gas, coal or uranium but the means to channel it to meet demand - copper and/or aluminium wiring!!!
It is estimated that over 50% of China's copper demand is fed into the electricity grid. Later on it will be taken up in house wiring (for example, an American home consumes about 400lbs of copper - tho we might reasonably anticipate a lot less would be in the average Chinese home).
There will be a point where supply is cranked up (due to such high prices) to satisfy demand, and quell the bull market.
I don't think hat will be any time soon.
post script: Shanghai inventories climbed about 30% respectively for copper and aluminium during Chinese New year, but prices are unmove by the restocking
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rederob
Member
Username: rederob
Post Number: 619
Registered: 10-2002Rating: N/A
Votes: 0
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| | Saturday, February 19, 2005 - 09:33 am: |
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vermante
Member
Username: vermante
Post Number: 245
Registered: 11-2002Rating: N/A
Votes: 0
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| | Saturday, February 19, 2005 - 11:46 am: |
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Worth considering in the current Copper Market.
Source- TYC web site
Tethyan Copper Company Limited is a dynamic new investment opportunity, offering a remarkable asset base, a proven management team, an Alliance with one of the world's largest mining companies, and exposure to the phenomenal growth of the Asian economies.
TCC controls the Reko Diq Project in Pakistan, a giant porphyry copper and gold complex with over 4.8 million tonnes of contained copper metal and 9 million ounces of contained gold already delineated in JORC standard Inferred and Indicated Resources. A further 14 mineralised porphyry bodies are known to exist, with the potential to place the Reko Diq Project among the largest undeveloped copper resources on the globe.
TCC's goal is the staged development of a world-class copper-gold mine at Reko Diq & a springboard to its larger ambition & to be a major copper producer, supplying the growing economies of Asia with the one irreplaceable metal of the technological age, as Asia drives world economic growth through the twenty first century.
Note- I hold TYC
Cheers
VERMANTE
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rederob
Member
Username: rederob
Post Number: 620
Registered: 10-2002Rating: N/A
Votes: 0
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| | Saturday, February 19, 2005 - 01:40 pm: |
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