Search This Blog
April 30, 2018
$DGC #DetourGold crashes as costs increase #Gold
April 12, 2018
Dr. #Copper: Sell in May?
Sell in May?
Though often incorrect, so-called sell in May has a slight tinge of truth to it, at least with respect to copper prices. On average over the last 10 years the worst month of the year for prices is May, with prices averaging -3.15%. Though we remain firm believers in the metals long-term fundamentals, it's fair to say that there do appear some shorter-term risks. For example:
Net Longs have collapsed:
And inventory levels are reasonably high:
Bonded inventories have also been increasing, from ~435kt in November to ~475kt now. Whether these indicators actually lead to a price correction is debatable, but at the very least it does suggest some caution is warranted. Looking at the sector on our numbers:
Copper Sector Valuations:
Not overly cheap as a whole, with producing copper M&A having historically been done at 1.1x NPV
ShareThis
MasterMetals’ Tweets
- $FM.TO First Quantum Minerals Ltd. reports that, following discussions with legal representatives of the Government of Panama, it has agreed to withdraw from the ICC arbitration proceedings. It has also agreed to suspend arbitration under the FTA. The company reiterates its https://bit.ly/3YcXr1r - 3/31/2025
- “LBMA Gold Price PM has now hit 20 new record highs so far in 2025. That's already half as many as 2024 as a whole.” 😅 https://bit.ly/43Ey7oR - 3/31/2025
- @antonioresource @DavidFi_ @geigercounting @tom_woolrych @peter_krauth Liquidity. - 3/31/2025
- Timeless Steel. Huda thought? https://bit.ly/3E1YM4w - 3/31/2025
- Copper slightly off after last week’s record highs. Still, it’s 🆙 +25% YTD! https://bit.ly/43Azhle https://bit.ly/4433r0w - 3/31/2025
- Niche “Strategic” Minerals Surging in Price as Defense Spending Booms & Shortages Loom - 3/31/2025
- Gold rally finally attracts investors back to mining stocks after months of outflows - 3/25/2025
- $3000 Gold - 3/19/2025
- To those who say you can’t have too much of a good thing…meet Cobalt - 2/25/2025
- $NGEX.TO Drills 53.50m @ 7.79% CuEq, 75.45m @ 4.95% CuEq, & 15.25m @ 16.56% CuEq at Lunahuasi - 2/19/2025