Re: My thoughts/opinions on why CUU is down
in response to
by
posted on
Aug 21, 2014 12:50PM
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%)
I find it quite laughable when people complain China's economy is only growing at 7.5%/yr.
Back in 1990 it was growing at 10%/yr. which means it doubled in 7.2 yrs. - In 1997 it was still growing at about 10% so it doubled again by 2005. - Still around 10%/yr. so it once again, doubled by 2012. that means the economy in 2012 was 8 times larger than in 1990.
Now it's only growing at 7.5% and someone's complaining. It's 7.5% of an economy that's 8 times larger and every finance minister's dream.
Their last 5 year plan called for more new power lines to be built than are currently in exinstence in all of Canada. According to Don Lindsay, when China sets goals, they tend to achieve them.
There's also a burgeoning middle class that want cars, refrigerators, washers etc.
The shortage in copper will begin around 2018, and be full blown by 2020 and if you want a mine producing by then to take advantage of the good prices, and it takes 5 years to build, you better get started in 2015.
The wait has been mind numbing, but to give in to fear mongering now would mean the agony was for nothing. when things start to happed here I expect it will move fairly quickly.
I don't intend to miss out..all the foregoing is IMO.....chunky