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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: The Good, the Bad and the Ugly

How is setting up a physically backed Cu ETF bad?

From what I understand, they'll need to fill a warehouse up with copper to back the ETF. That creates a pile of copper metal promised to someone (an ETF holder) but rarely ever physically sold to a manufacturer (unless the ETF cant sell shares). Filling up a warehouse full of copper creates a bit of demand for copper that will laregly never become more than an ingot.

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