Breakwater Resources (T.BWR) Message Board

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

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To: Giraffe who wrote (472)	7/18/1998 1:14:00 PM
From: Stephen O	Read Replies (1) of 962

LME inventories are just above 380,000 tonnes. The low last year was about 373,000 tonnes. The summer slowdown does not seem to be occurring. The invs are going down at about 1,100 tonnes per calendar day. The hedge funds are short according to an article I read recently put out by Veneroso and associates. The US$ appears to have topped. Remember the collapse in Zn prices in Oct last year, if the shorts cover and go long we could have the mother of all rises. Zn prices have been firming up for the past 2 weeks now and BWR itself looked firm on Friday with First Marathon doing the bulk of the buying. The 89 day moving average price is about $2.30, get it through there and BWR is off and running.

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