ERO Copper (NYSE: ERO) Update - Oct 19

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dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

ERO Copper (NYSE: ERO) Update - Oct 19

Post by dan_s »

I added Ero Copper to our Small-Cap Growth Portfolio because it is extremely profitable. Their all in cash expenses are about $0.80/pound for the copper that they produce. To become more familiar with ERO, go to the EPG website and listen to the replay of our August 26th webinar hosted by ERO.

Copper is critical to the growth of electric vehicles.

Trading Economics: "Copper futures rose above $4.70 per pound, getting closer to a record high of $4.90 hit in May, on the back of a weaker dollar and shrinking global inventory levels, as historically high energy prices hurt production. The copper market London Metal Exchange spot prices have been trading at an over $1,000 premium over 3-month futures, the widest spread since 1994, a sign that current supplies are failing to meet demand. Meanwhile, freely available stockpiles have shrunk by more than 90% over the last couple of months and sit near multi-decade lows in LME-monitored warehouses, a trend also seen in Chinese and American inventories. Adding to concerns, a Peruvian community will block a key road in a major copper mine in Peru, the world’s 2nd largest producer, after failed negotiations with the government."
Dan Steffens
Energy Prospectus Group
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