UK Sunday Times 10.04.16

Coppers long winter of low prices could stretch to 2019, according to the new boss of Antofagasta.

Ivan Arriagada 52, was promoted last week to chief executive at the London listed miner, one of the biggest producers of copper in the world.

He told the Sunday Times this weekend that he would focus on cutting costs and improving efficiency as the company grapples with a global glut of the metal.

He said "The market will be in surplus for the next two or three years. We dont expect a rebound in prices in that time"

Knocked by the slowdown in China, the price of Copper has more than halved since its high of more than $10,000 a ton in 2010. The metal is used to conduct electricity in power lines and appliances.

Four times as much Copper is used in an electric car than in an equivalent petrol-fuelled model.

Arriagada said natural decline rates of mines and the metals importance for a variety of technologies means it is the commodity " best placed for a recovery"

Simon, York. UK

Who Am I

I am a 60 yr old long term share holder, massively (for me) underwater. I wont ever sell.

I took a risk, read too much Vette.

I smile about it now. He was good!

Good Luck to all

If we get anywhere near what this project would have been worth a few years ago then Elmer and I would not need another paying job.

Now lets see....My normal retirement date is 2020.

That seems about right

I hope the buyout price will be influenced by what is the likely price of Copper, Gold, Moly and Silver going forward 6 to 40 years, when the mine is in production, not what someone predicts for next year.

Building the mine at todays prices is a major financial commitment but 20 years down the road, inflation and higher commodity prices will have done their work, it wont seem so bad.

The longevity of Shaft Creek is good, longer your mine will last also, the lower the risk.

Ultimately, if its a total buyout, the value we get out of our share holdings relies on the negotiating skills of a handful of people, frightning thought!

swilson10

Off topic I know but may be of interest

Comment of the economic editor of a leading UK daily newspaper

When I first saw Mr Chaney (the new Canadian Govenor of the Bank of England) in action in Tokyo at the IMF meeting he rattled off a check list of reforms for the financial system from cleaning up the Libor market to making sure banks adopted the most rigerous capital standards to protect balance sheets.

He also went further, suggesting it was time that two other markets capable of being abused by ruthless speculators- those of Oil and Gold- were also reformed

( My comments) So the highly regarded new Govenor of the Bank of England acknowledged a possible manipulation of the Oil and Gold market ( and I assume he feels the same about the silver market)

swilson10

CUU SHAREHOLDER IN THE UK

And that $736000 is just the metal they have sold,they still have3k silver and 1.2k gold to sell. the metal prices I used were just an example, they could have sold for more

Q4 2007 results out on Hochchild Moris produced 11k oz silver and 5.18k gold at $13 silver and $600 gold Exmins cut of 30% is worth $736000. can do some mighty nice prospecting with that sum.This company is in my opinion a quality junior producer with a management and JV partner of quality to boot.I dont know a lot about mining but there are multiple pitfalls to get a mine producing and they seem to have negotiated them admirably.Well done Exmin. As a post script dont expect much in the way of a SP hike,but it will come in time IMHO