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Gold/Mining/Energy : Copper Fox
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To: dsikorsk who wrote (10354)10/7/2016 4:33:38 PM
From: mudguy1 Recommendation

Recommended By
dsikorsk

   of 10654
 
It has been a great performer for me too. I bought a ton when it was in the 60-70 cent range and basically at a discount to cash. I'm still holding, probably more than I should. I bought some more this week as I think the Kakula resource numbers will be very good based on the drill results and I had lightened up when it shot to 2.40 (too fast in my mind). The continuity and grade of the Kakula deposit will probably rival or exceed Kamoa and will almost certainly be the largest undeveloped copper ore body on the planet.

I don't know what the long term upside is. I think they will monetize Kapushi for $300M or so and the value of the Kamoa/Kapushi holdings is probably in the billions. They are basically building the mine and Zijin is committed to finance. The main risk is political, but I suspect that will be sorted out. The Pt property is probably worth that amount as well.

I could see it getting to $4 or a market cap approaching $3B in the next year. But if the market improves for copper or they make a big deal, they could go higher. I will probably lighten my holdings if we cross $3 and then more at regular increments. It is one of my two main holdings in the speculative part of my portfolio, the other is MIN. Some of my IVN holdings are likely to be very long term, maybe 25% or so. If there is another Cu cycle in the next few years, IVN could get very high.
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