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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: marcos who wrote (62921)1/18/2009 4:05:44 PM
From: tyc:>  Read Replies (1) of 78426
 
>> "...sort of coming around to Claude's view on this"

Me too, Marcos (believe it or not ). But let's be clear on what Claude's view IS. I think he has made it clear that he expects copper to fall before it climbs to the astronomical heights forecast by Schulich (sp?). In other words extreme volatility.

Let's face it, in the present circumstances we should be grateful that neither New Afton nor La Fortuna nor Mt Milligan are currently in production. They are truly "warrants" on the future volatile price of copper. I see MtM and TRX as the better priced warrant, especially when you consider what TRX will represent after (if?) Goldcorp exercises its option for a 60% participating interest in MT M.

Even that Brook Hunt article that was so bearish on future copper prices foresaw higher prices coming first "as an opportunity to hedge against a future decline". TRX has no copper production to hedge, but Goldcorp does in its Alumbrera production. Such a hedge would serve to gurantee the profitability of its Mt.M participation. (If such a hedge should be considered necessary).

I note that NGD bought (back) some of its "junk-" bonds ! It's surprising that it has nothing better to do with its hard-to-replace cash.
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