Circle Property Share Discussion Threads

[bigbobjoylove] 18/4/2006 08:37

expect this to be up sharply today.

[wassapper] 17/4/2006 22:53

How can we fail unless management screw up?

Oil, gold, copper and zinc. The places to be!

[pinhead3] 17/4/2006 21:50

Copper Rises to Record in New York as Chinese Economy Quickens
April 17 (Bloomberg) -- Copper rose to a record high, doubling its price from a year ago, on signs of accelerating economic growth in China, the world's biggest user of the metal.

China's economy grew 10.2 percent in the first quarter, up from 9.9 percent in the fourth quarter, President Hu Jintao said yesterday. The rate exceeded the 9.6 percent median estimate of 25 economists surveyed by Bloomberg. Copper is up 42 percent this year on concern demand is outpacing production.

``Copper consumption growth has to be pretty favorable'' in China, said Charles Bradford, an analyst at Soleil Securities Corp. in New York. Prices also are getting a boost because the 25-day strike at La Caridad, Mexico's second-largest copper mine, is threatening to disrupt shipments, he said.

Copper for May delivery rose 8.35 cents, or 3 percent, to $2.899 a pound at 12:25 p.m. on the Comex division of the New York Mercantile Exchange. Prices earlier reached a record $2.935 a pound.

The two-year rally in metals has fueled shares of mining companies such as Phoenix-based Phelps Dodge Corp., the world's third-largest copper producer. Phelps Dodge rose $3.15 to $88.56 in New York Stock Exchange composite trading, doubling in the past year. The company on April 5 said it will pay a $2 special dividend, its third since December, as part of a plan to return $2 billion to shareholders after profit rose to a record.

Chinese Demand

Chinese copper demand may increase 8 percent to 3.9 million tons this year, exceeding production by 1.05 million tons, according to the government-affiliated China Nonferrous Metals Industry Association. Bradford said Chinese demand for the metal used in homes and appliances will rise 8 percent this year.

Goldman Sachs Group Inc. analysts led by James Gutman on April 12 raised their average copper forecast by 16 percent to $5,587 a ton ($2.53 a pound) from a forecast in February. Copper for delivery in three months on the London Metal Exchange has averaged $4,982 this year after reaching a record $6,150 last week.

World copper consumption will rise 5.4 percent this year to 17.9 million tons, up from 1.7 percent last year, Gutman said in his report last week. Copper production will fall short of consumption by 10,000 tons this year, he said.

In Shanghai, copper for delivery in July rose 1,820 yuan, or 3.2 percent, to 58,740 yuan ($7,326) on the Shanghai Futures Exchange. The contract earlier rose by the daily fluctuation limit of 4 percent to a record 59,190 yuan a ton.

Spot Prices

Copper for cash delivery in Changjiang, the biggest spot market in Shanghai, rose as much as 1,850 yuan, or 3.2 percent, to a record 58,850 yuan a ton. Chinese users have to pay a 17 percent value-added tax, 2 percent import tax, premiums and freight charges for imported copper.

``Hu's comments that China's economy accelerated is a surprise and very encouraging,'' said Shen Haihua, vice president with Maike Futures Co. ``Strong cash prices indicate tight supply. I don't see any slowdown in copper consumption.''

Demand for cables and wires in China will rise to 3.35 million tons by 2010 from an expected 2.45 million tons in 2006, He Shisi, an official at the China Electrical Equipment Industry Association, said on April 14. Installation of power grids in the rural areas and power construction will boost demand for copper, He said.

Power plants in China, the biggest electricity user after the U.S., are increasing capacity to supply the expanding economy. Chinese power generators may add 72,000 megawatts of new capacity this year, the National Development and Reform Commission, China's top planner, said in March.

Mining at La Caridad, owned by Grupo Mexico SA, has been halted since March 24 because of a strike. Grupo Mexico has said it may suspend deliveries to customers in May.

Canada's Ivanhoe Mines Ltd. said April 5 its Monywa copper venture in Myanmar was shut in March, and that production this year will drop by more than half.

[unionhall] 17/4/2006 13:32

Copper Futures Rise to Record in Shanghai as Faster Growth Boosts Demand
April 17 (Bloomberg) -- Copper futures in Shanghai rose to a record for a third session after China's President Hu Jintao said the nation's economic growth accelerated to 10.2 percent in the first quarter, boosting prospects for metals consumption.
The figure, given by Hu in Beijing yesterday, is higher than every forecast in a Bloomberg News survey of 25 economists and compares with 9.9 percent growth in the fourth quarter. The Bloomberg survey had a median estimate of 9.6 percent.

``Hu's comments that China's economy accelerated is a surprise and very encouraging,'' said Shen Haihua, vice president with Maike Futures Co. ``Strong cash prices indicate tight supply. I don't see any slowdown in copper consumption.''

[pinhead3] 15/4/2006 14:03

I would be careful anyone buying copper miners purely on the speculation of continuing rising copper prices. The price of copper this year has risen further & faster than the underlying fundamentals dictate & there will be a correction at some point this year.When & how sharp is anyones guess.
Having said that the outlook for higher copper prices over the next few years is good assuming nothing hits the Chinese / Indian economies.

Regarding CRC
With the assets/projects CRC has even valued at long term copper prices of $1/lb - $1.25/lb is a strong buy. I personally would much prefer to see the share price rise on the news/development of their assets rather than just being dragged along on a hysterical wave of copper speculation.

Anyone purely wishing to speculate on a rising copper price IMO would be better off taking a long position in copper itself with appropriate stop losses.

[divina] 15/4/2006 00:59

Still a buy att these levels i think

[drewz] 14/4/2006 23:23

Compelling article on why we should all be buying up copper miners:

[pinhead3] 12/4/2006 18:53

I suspect that the converted shares from the exercised options (100K at 25c 10/04) have been sold over the last couple of days which has forced down the price.
An instant £80k profit would be very tempting to anyone.

The good news is that there are only 75K options left at 25c to convert, these options were issued as part of the acquisition of Hinoba-an & have an expiry date of 19/01/10.

[papillon] 12/4/2006 13:11

Valid point nikesh2. We have a little double top formed. A retracement to around 87p would not surprise me.

[nikesh2] 12/4/2006 12:48

nobody buy- seller is around- prob from placing.
not deramping but just dnt want ppl to lose money like i did when seller sunk price to 66p from 90p

[drewz] 12/4/2006 12:00

Inevitable that when the copper price comes off a tad there will be atick down in pure copper plays like CRC.

However, the trend in copper remainss firmly in place and will doubtless resume after a brief pause for breath. Demnad will continue to outpace supply for many months to come.

As Colin Bird (CEO of Jubilee Plats - also in copper in Madagascar) said in interview on Bloomberg yesterday, the world is having to pay now for 15 years of underinvestment in mining. And that will take years to turn around.

[nikesh2] 12/4/2006 11:53

can still by 20k online

[nikesh2] 12/4/2006 09:46

seller is back, can buy 20k online
how long are they back for?

[nikesh2] 12/4/2006 09:37

mad4it
can u tell us what you think
thanks

[pinhead3] 11/4/2006 18:02

Don't forget the new identified site in the DRC near Kinsenda, estimated to have 1.375 Bn/lbs copper. Plenty to increase the share price over the next 3 years.

[addas99] 11/4/2006 17:52

......and virtually one year later when CRC originally listed with just the operating rights to Hinoba and the failed Colorado claims.
With Kinsenda and Haib since added, highly newsworthy, and Misoshi and Lubembe
to eventually follow...plus whatever Forrest brings to the party...it's all adding up to a very exciting next couple of years.

[nikesh2] 11/4/2006 17:47

lol!
lets see what 2mrow brings- if it is an up day we will see 110-120p level by end of week

[bigbobjoylove] 11/4/2006 17:31

We close a full 0.5p above the flotation price.

[drewz] 11/4/2006 14:34

Yes, pretty much, eurofox. Except when 'Mr Ashley James' deigns to visit us with his presence to tell us how misguided we are holding CRC instead of ACU, despite the fact that most of us hold both!

[eurofox] 11/4/2006 14:32

quiet here, is it always like this

[simmens] 11/4/2006 13:25

Awsome stuff!

[nikesh2] 11/4/2006 13:24

chart breakout to where? 120p 140p?????
max buy 3k

[nikesh2] 11/4/2006 08:49

looks like north movement

[wassapper] 11/4/2006 07:36

If you set up a bet then it will be tradeable on the web I think. I have not done so as I am near my deposit and don't want to over expose on the sbet side.

Opaque? Possibly, but they have done a lot in a few weeks. They are in the middle of a deal so can't say too much at present. They plan to produce c65k tonnes per annum which is more than CRC in the DRC.

To hedge my bets I hold both!