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Gold/Mining/Energy : Princeton Mining Corporation

PMC 29.25

0.0%

Dec 8 4:00 PM EST

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To: Richard Saunders who wrote (16)	11/20/1996 3:45:00 AM
From: Donald McRobb	of 73

PMC needs better copper prices and this article is encouraging. Copper Prices - At the time of writing yesterday, December COMEX copper was up a further 4.20 cent per pound to 105.65 after a 5.6 cent rise Friday. The price rise Friday brought copper to a 5-month high and was in reaction to a report that London Metal Exchange warehouse copper stocks had declined by 8,000 tonnes to 101,175 tonnes, the lowest level since July 1990. Rumours earlier in the week of large stocks of non-exchange copper being held in Rotterdam, that had concerned the market, were dispelled. We are now looking at a tight near term copper market and expect to see further price gains in the short term notwithstanding the prospects of traders taking quickly earned profits.

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