Asiamet Resources Share Discussion Threads

[scarymonster] 08/3/2017 09:14

With all the good news lately and news due surprised to still see selling down here but I guess once it starts to fall fear kicks in and also stops start to get hit in spread bets etc.

[mr roper] 08/3/2017 07:43

By Sue-Lin Wong and Fang Cheng
BEIJING, March 8 - China unexpectedly posted a rare trade
deficit in February as imports surged far more than expected to
feed a months-long construction boom, driven by commodities from
iron ore and copper to crude oil and coal.
Imports in yuan-denominated terms surged 44.7 percent from a
year earlier, while exports rose 4.2 percent, official data
showed on Wednesday. That left the country with a trade deficit of 60.63 billion
yuan ($8.79 billion) for the month, the General Administration
of Customs said.

[cyberbub] 07/3/2017 21:21

Let's see if Horneblower is right and now we are at 4.4x , we might see a bounce... we need to see a bit of a volume spike IMO...Good luck all

[mr roper] 07/3/2017 20:13

Added now 2lb
hxxps://www.eventbrite.co.uk/e/miningmaven-investor-evening-with-greatland-gold-ecr-minerals-asiamet-resources-registration-32405590995?aff=es2

[mr roper] 07/3/2017 18:04

Glad to hear it Freddie

[freddie ferret] 07/3/2017 17:30

Mr Roper.

Freddie has been a keen holder for many years, as Kalimantan. He does not trade either buying or selling. He also stays diversified.

[2lb] 07/3/2017 14:43

Yes, Mr R, apparently Asiamet will be added to this event

[mr roper] 07/3/2017 14:00

investor evening planned at end of March in London I hear

[2lb] 07/3/2017 09:12

Not if you add up the numbers since last Wednesday.

Hence the 0.5p drop

[cyberbub] 07/3/2017 09:10

Selling yes but look at the volume - tiny.

[2lb] 07/3/2017 09:08

Pretty relentless selling at 4.45

With so much to come I guess patience just not there for a number of people these past few days.

[hawks11] 07/3/2017 08:14

Yes Mr R and with China with a huge demand for some time to come.

[mr roper] 07/3/2017 07:30

hawks, according to the PEA, ARS can produce for $1.28 v the current market price of $2.64.

I'm expecting the production costs to drop to get us closer to $1.10 on the updated PEA.

[hawks11] 07/3/2017 07:25

If ARS are able to produce copper for a reasonable price I see no problem and plenty of success with this investment so it is just a matter of time and continued excellent RNS reports with production getting closer and closer.

[mr roper] 07/3/2017 07:20

Squeaky bum time at Escondida....
---------------------------------------------------

Strike At The World’s Largest Copper Mine Approaches Critical Moment

Striking miners at the world’s largest copper mine face a critical juncture at the end of this week, when management is legally permitted to offer striking workers a deal to convince them to return to work.

Miners at the Minera Escondida copper mine in northern Chile have been on strike ever since Feb. 9, when the miners’ union announced the walkout. The ongoing dispute stems from conflict between workers demanding wage increases and profit-sharing and companies looking to cut costs by laying off workers and reducing benefits, due to the relatively low price of copper and other commodities.

Chilean law allows mining companies to make offers to striking workers 30 days into a labor stoppage. March 10 marks the 30th day, and union officials are concerned that a deal from BHP Billiton, the company with controlling interest of the mine, will tempt some of the workers into going back to work.

“Everything will change on day 30,” Carlos Allendes, a union spokesman, told Bloomberg Friday. “The company is probably betting that some workers will go back to the mine, but we feel confident that many won’t accept worse benefits than we have now,” he said.

hxxp://dailycaller.com/2017/03/06/strike-at-the-worlds-largest-copper-mine-approaches-critical-moment/

[mr roper] 07/3/2017 07:19

LME copper stocks fall below 200,000 mt for first time since August
in Commodity News 06/03/2017


Warehoused copper stocks on the London Metal Exchange totaled 196,425 mt Friday, down 3,575 mt overnight to its lowest level since August, exchange data showed Friday.

Stocks have fallen nearly 40% since the start of the year, from over 320,000 at the end of 2016.
Canceled warrants have also outweighed live warrants this week, at 107,675 mt Friday to 88,750 mt live warrants.

It was the first time canceled warrants have totaled more than live warrants since 2014 and indicates a build-up of physical demand.
Canceled warrants represent metal earmarked for delivery. Live warrants represent inventories in store in the LME’s warehouse.

Three-month copper was bid on the LME at $5,927.50/mt at 1030 GMT, to be up 7% since the start of the year.
As well as the so-called ‘Trumpflation trade’ that has lifted all base metal prices since the November election, copper has seen extra support from increasing supply constraints, notably disruptions from two major suppliers.

Friday marked the fourth week of strikes at the world’s largest copper mine at Escondida, Chile, with local media reporting clashes between protesters and police this week. Total copper production at Escondida was 979,000 mt in 2016, according to BHP Billiton.

According to calculations from Commerzbank this week, over 60,000 mt of copper production has been lost to global supply as a result of the closure.

At the same time, a disagreement between the Indonesian government and Freeport McMoRan, the world’s largest copper producer, over copper concentrate exports has continued to prohibit exports from its Grasberg mine.

Freeport said this week it may move for arbitration of its dispute with Indonesia over a new mining permit and the right to export concentrates, while announcing it would no longer be making its planned $1 billion investment in the mine.

In 2016, the Grasberg mine produced over 500,000 mt of copper.
With global copper production around 20 million mt in 2016, the mines combined represent up to 7.5% of world supply.

The disruptions have occurred in an already tight copper market. The International Copper Study Group reported a 64,000 mt deficit in the global refined copper market between January and November 2016.

[cyberbub] 06/3/2017 23:38

That 2.2M trade was dated last Thursday 2nd March. A sell I would think?

[charles clore] 06/3/2017 18:50

Mr R - maybe so, we shall see next week. Copper has been drifting sideways for almost 3 months now and should breakeither way soon imho. I hope for our sake it decides to go upwards.

[mr roper] 06/3/2017 18:46

Charles suspect it may be more to do with a potential rate rise, strong dollar and impact on unwinding any carry trades.

Heck of a trade through today.

[charles clore] 06/3/2017 17:48

Copper is down because the Chinese announced over the weekend that they would be limiting their economic growth to 6.5% which means less demand for copper and other base metals. What the experts are failing to take into account is that with at least one major producer temporarily out of the equation and new large mines on the decrease, copper production is in contraction.

[2lb] 06/3/2017 17:37

Lol, nope deffo not mine !Explains the three day dropRight , let's kick on....

[scarymonster] 06/3/2017 17:35

hmmm, Wow indeed, do we have an auction at the end of the day with ARS? I don't have access to Level 2 data so can't see what's going on. I just have the real time trade data but no view of the book, auctions etc.

[markeybee7] 06/3/2017 17:35

Been waiting for that to clear so we can start to push on again. Not yours are they 2lb ;-).