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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: Ed Ajootian	5/18/2006 8:23:13 AM
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Has anyone read any good articles about the prospects for copper prices over the intermediate to long term? This has been an unbelievable move over the last 6 months or so. I would like to understand what caused it and whether the experts think this kind of price level can be sustained, and why. Yamana Gold is going to put a mine onstream next year (Chapada) which, in addition to producing 164K ozs. gold, is expected to produce a whopping 124M lbs. of copper, per year. According to an analyst report on Yamana put out by National Bank Financial, accounting for the copper as a by-product (i.e. as a reduction to the gold production costs) would result in Yamana's overall cash costs for gold production being a mere $57/oz. in '07. They do not state in the report what copper price assumption they are using.

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