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Gold/Mining/Energy : Copper - analysis
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To: Stephen O who wrote (1191)5/5/2005 8:26:52 PM
From: seventh_son  Read Replies (1) of 2131
 
Yes, so it is hard for me to understand why the Corriente feasibility study fully takes into account skyrocketing costs for mine expenditures but assumes a base case of only $1 copper. It seems that $1.15 or $1.20 at minimum would be more reasonable conservative values looking forward, and a much higher value than that would be expected. If $1 a pound copper is realistic, how many mines are going to come online, and how is Asian demand going to be satisfied? I think that skyrocketing capex costs are a reflection of a weak US dollar that does not have a bright future, whereas $1 copper is a distant reflection in the rear view mirror of the price at a time when the US dollar was much stronger.
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