Breakwater Resources (T.BWR) Message Board

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Gold/Mining/Energy : Breakwater Resources (T.BWR)

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To: Mark Lines who wrote (468)	7/16/1998 10:28:00 PM
From: jack marshall	Read Replies (2) of 962

Hey Mark. Tough to call this one these days. My thoughts are that the 20% drop in demand in Asia will eventually filter back to the LME, but this seems to be tempered by a decrease in exports from China. The GM strike is not helping matters. Last quarter 3 month LME averaged around $US0.47, which is bad news for all miners so there will be some bad results coming out. The scuttlebutt is that one big copper/zinc Canadian producer is looking to shutdown if copper dips below $US0.70/lb. So if copper price takes out a few byproduct zinc producers, this is bullish for zinc. There's not much downside with BWR these days but I'll look for clear signs of the big rally in price. Indicators will be funds reversing their short position and a good ole' shutdown or two. As for the Veneroso report, low copper/nickel prices are more of a response to plenty of supply coming on line not the current inventory situation.

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