I am bullish on Copper - Sept 2

[dan_s]

Trading Economics: "At the time of this post copper futures are up $0.026 to $4.289, down from a 2-week high of near $4.4 hit earlier in the week on renewed concerns over demand from top consumer China and easing supply constraint. China’s factory activity contracted in August for the first time in nearly 1-1/2 years as COVID-19 mostly due to containment measures to curb rising cases of the Delta strain, supply bottlenecks, and high raw materials cost. Also, Chile's state-owned Codelco, the world's largest copper producer, said on Tuesday it has reached an early collective bargaining agreement with the five unions representing workers at its key El Teniente mine. Copper prices are up $1.34/pound from a year ago (45.4%) due to shrinking inventories, supply disruptions in Chile and strong global demand. Also, given how crucial copper is in the transition to a carbon-free world, demand is due to outstrip supply due to lack of investment by large miners." < In "Post-Pandemic World" I think copper will move quickly over $5.00/pound, which would be an all-time high.
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Nolan Peterson, CEO of World Copper will be joining me on the next EPG Webinar on September 8 at 11AM CT. You must register to attend the live event.

World Copper Reports 426 Million Tonne Oxide Copper Resource at Redefined Escalones Project

https://www.newsfilecorp.com/release/94039

CEO Nolan Peterson commented, “This updated resource estimate confirms Escalones’ potential for development as a sizeable copper oxide deposit and provides our company with new strategic options for advancement. We view this updated resource as a new starting point for the project, and it gives us confidence that our strategy of targeting the oxide portions of Escalones was the correct first step in unlocking the potential of the deposit. Furthermore, recently announced results from our surface sampling programs indicate that there is good evidence for additional oxide copper at Escalones within the Mancha Amarilla and East Skarn targets (see news release dated August 12, 2021). As an oxide project, Escalones now has a streamlined path to production, and we look forward to updating the market on additional developments as we pursue our new strategy.”

Key Highlights

> World Copper reports an updated inferred resource estimate of 426 million tonnes at 0.367% total copper in the oxidized zone at the Escalones project, Chile.
> The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%.
> Redefining the project as a copper oxide deposit significantly enhances its value by lowering costs of capital and operating development options compared to the previously contemplated sulphide flotation project.
> The updated resource estimate advances the Escalones project toward development and there is significant potential to expand the oxide resource as we continue to progress the project.

Investor Presentation here: https://worldcopperltd.com/

[dan_s]

Copper's image has changed from an "Old Industrial Metal" like Iron to a "Sexy Green Metal". There is 10X more copper in an electric vehicle than lithium. There is going to me more pressure from governments on companies to "Go Electric" and that is going to require a lot more copper.

Listen to this short video: https://soundcloud.com/user-759550640/n ... ht-in-gold