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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Louis V. Lambrecht who wrote (15338)8/1/2003 12:25:45 PM
From: TrueScouse  Read Replies (2) of 39344
 
Louis:

You're right about the Chinese demand for base metals -- and it's significant that copper broke out to new contract highs yesterday. On a technical basis it looks to me that there's no resistance for Cu until about 92 cents. The London stocks have reduced sharply too in recent weeks, so this move seems to be reflecting the fundamentals, despite the weakness in the US economy.

IMHO this also may account for the recent strength in stocks like Metallica -- i.e. PM miners that also have significant undeveloped base metal properties. The rise in base metals makes other projects such as Western Silver's Penasquito deposit that much more economic.

Regards,
Howy
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