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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (35182)	6/10/2005 9:24:49 AM
From: loantech	Read Replies (1) \| Respond to of 39344

It does bother me a bit that Metallica got the run around. I feel for Rich somewhat because the times I talked to him he was straight shooter and a good guy. I hope it takes off. Parts of Mexico okay and other parts....... speaking of how this worked out, in the case of MNG and CLG do you think the indigent people need a bigger cut and that may or may not delay Environmental approvals?

To: russwinter who wrote (35182)	6/10/2005 3:14:36 PM
From: TrueScouse	Read Replies (1) \| Respond to of 39344

Russ: There was a large 2,000 MT copper draw down in LME last night, we are at 38,625 MT there, and only 17,344 at Comex. Supplies are getting critically tight. In this respect, I wonder if you can explain something to me? The Open Interest in the Comex June contract is close to 3,500 contracts, or about 40,000 tons. I presume almost all these contracts -- long and short -- are held by commercials. So, when June settles, 40,000 tons get delivered by producers/suppliers (the Shorts), and at the same time, consumers/manufacturers (the Longs) take delivery of 40,000 tons. But what if a lot of the shorts are not suppliers and don't have the stuff to deliver? Is this possible -- i.e. Can speculators still be short the market so close to June settlement date? With only 17,000 tons in Comex stocks, this would lead to a massive short squeeze. Am I understanding this correctly -- and do you know if it's possible to see a COT-type breakdown for just the June contract? TIA. Best regards, Howy