I'm just catching up on the day. A bit of a rush to the bottom.
They've changed the background picture on the website and updated the blurb on the home page to incorporate Van Dyke and Sombrero Butte so I assume that means they are about to give us the analytical report soon and it should be good.
Oh, and the Teck JV meeting should be out right about now. Hmmm....this stock price does not bode well for that, but perhaps it is unrelated.
There was a good article about the "decoupling efffect" that is currently bringing down the price of copper and I assume we are caught up in this problem too.
This is the gist of it:
Copper is used as collateral in many Chinese financial transactions. As a debt goes bad, creditors take the collateral, and sell it for what they can get, which means that its price falls. So the credit boom in China that pushed copper up in the first place is now pushing it down.
In a repeat of the dilemma that hit US authorities in 2008, China is trying to manage a series of defaults. It wants to inflict enough pain on banks to show that they must behave more prudently in future – but not so much that they lead to a crash.
And copper’s steep fall might be a blunt instrument to help the Chinese authorities in their attempt to restore some balance to their economy.
