Bill Wexler's Trading Cabana Message Board

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Non-Tech : Bill Wexler's Trading Cabana

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To: 8bits who wrote (2032)	5/27/2007 12:46:13 AM
From: 8bits	of 6370

Copper again: From another board: investorvillage.com Coolreit, a poster who I have followed for a number of years, went to an investor's meeting for a specific copper company but I have extracted his comments that have relevance for all copper miners: "Worldwide Cu grades are dropping. It takes 10 years to bring on a new mine. There are 3 regions in the world to find high grade Cu: Congo (no political risk there!), a belt that stretches from Iran to Pakistan (talk about risk!) and Iran precludes the ownership of the mineral and thirdly a mountainous and expensive region where Freeport has assets: Papua New Guinea and an area around there. Not many new mines coming on stream eg. Spence in 2008 and Spence is but a small piece of the demand growth. There is a 2 year wait to get mining equipment! Imagine that. How can you start a new mine without mining equipment! The situation is so dire that QUA ordered their mining equipment even before they got the financing just to ensure they had the needed equipment. Doesn't this make the startups like TAM, FNI, Crowflight much more risky if they can't even get mining equipment?"

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