Circle Property Share Discussion Threads

[pinhead3] 27/4/2006 17:24

L-R managers know how to make money they are holders of VOG from last year, 40p to 260p in 8 months.
650% rise on CRC in 8 months would be nice but I settle for that be the end of 2008!

[nikesh2] 27/4/2006 17:22

i havnt seen that big buys like that before
have a strong feeling news is close

[wassapper] 27/4/2006 17:13

Well L-R managers seem pretty committed! And why not? We still have at least 400% to go.

[chestnuts] 27/4/2006 16:38

Mad4it are you sure this is not a cup and handle breking out as all charecter of a breakout, as above rim volume as increased.

[pinhead3] 27/4/2006 16:30

700K of buys gone through this afternoon, I'm begining to think the METS news has leaked out. Looking good for all holders.

[pinhead3] 27/4/2006 14:25

'Holding(s) in Company

27th April 2006

L-R MANAGERS LLC ACQUIRE 10.91% OF CRC SHARES

COPPER RESOURCES CORPORATION "CRC"


L-R Managers LLC now hold 6,000,000 shares of CRC, representing 10.91% of the
outstanding share capital, having acquired 2,400,000 shares at the initial IPO
on 21/4/2005 and 3,600,000 shares in CRC's private placement on 30/3/2006. The
6,000,000 shares are held by its entities: L-R Global Partners L.P - 3,200,000
and L-R Global Fund Ltd - 2,800,000.'

That's 3.6m of the 8.0m identified from the private placement, excellent show of faith in the management.

[pinhead3] 26/4/2006 21:50

China, construction help copper shine
Posted 4/25/2006 11:08 PM ET E-mail | Save | Print | Reprints | Subscribe to stories like this



By John Waggoner, USA TODAY
Your copper plumbing has probably beaten your stock portfolio this year.
Copper hit a record $3.408 a pound on the New York Mercantile Exchange Tuesday, fueled by huge demand from China, labor unrest in Mexico and fears of production slowdowns in Chile.

For the day, April copper futures gained nearly 21 cents a pound, a 6.7% gain. This year, copper has soared 62%, according to the New York Mercantile Exchange, vs. a 4.3% gain for the Standard & Poor's 500-stock index.

The world economy has been growing strongly, and economic growth typically boosts demand for copper, which is used in plumbing, electronics and automobiles.

China is one of the most potent economic engines. "They're snapping up all the copper supply they can get," says Richard Asplund, chief economist for the Commodities Research Bureau. China's gross domestic product grew at a sizzling 10.1% annual pace in the first quarter.

But it's not just China, says S&P analyst Leo Larson. "Japan's economy is coming back, and the U.S. economy is growing stronger," he says.

The U.S. housing boom has lifted copper demand, too. Building accounts for 46% of all U.S. copper use - the average single-family home uses 440 pounds.

Many homes now use plastic pipes, but autos may be using more copper soon. "Open the hood of a hybrid car, and you'll see the copper wire in its electric motor," says Ken Heebner, manager of CGM Capital Development fund.

Yet supply remains tight. A strike at a mine owned by Grupo Mexico, the world's seventh-largest copper producer, could further restrict supply. Miners in Chile, the largest copper-producing country, are threatening to strike, too.

Water shortages in Chilean mines could slow production more. Copper processing requires huge amounts of water, and many Chilean mines are near the Altacama desert. Chile's government recently limited how much water the Dona Ines de Collahuasi copper mine can use.

The bull market in copper has pushed up the prices of other metals, too. Silver closed at $12.56 an ounce Tuesday, a 23-year high. Zinc closed at an all-time high of $3,411 a metric ton.

Big price rises mean that it likely costs more than a penny to make a penny now. The U.S. mint says it cost 0.97 cents to make a penny last year including labor; sharp increases in zinc and copper may have pushed that above 1 cent. A penny is 97.5% zinc, 2.5% copper.

[pinhead3] 26/4/2006 21:48

26/04/2006 12:00:00
Copper reaches for the sky

BaseMetals.com Report

For the moment there is no stopping copper and looking ahead there seems to be nothing to derail it. As such it is probably best to let it runs its course until it runs out of fuel. Having fuelled itself on hot money from the funds we now feel it is burning up the shorts. Once they are depleted it may start to lose momentum, then brace yourself for the counter move.

The other metals are being carried higher in copper's jet-stream, but even these are not managing to keep up. Copper rallied 6% yesterday, whereas nickel was up 3.5%, zinc 3.2% and aluminium 2.2%. How much further will the other metals be dragged up by copper is another unknown, but it may not be long before some of the metals start to break ranks. However, while the bull market dominates there little you can do except wait for the market to start showing confirmation that it has topped. Hopefully longs have their exit strategy in place and if you are looking to short it then there are likely to be a few opportunities to do so even after the first signs of weakness. That said when this leg of the up trend does peter-out we expect the retreat to be vicious.

For the moment though the threat of supply disruptions and the upward momentum is managing to push copper up an ever steeper gradient which is keeping the longs in place and the nearby sellers on the sidelines, although judging by the widening forward backwardations there does seem to be a pick-up in forward selling. At some stage you would expect the forward selling to counter the buying, but it doesn't look as though we are there yet. The 3-month to 15-month spread has now moved from $445/mt backwardation at the start of April to $637/mt basis Tuesday's officials. This suggests a pick-up in forward selling.

In other markets gold and silver seem to be consolidating with silver forming a potential flag pattern that could test lower again and oil has headed back from $75 highs, last around $72.50. So these need to be watched carefully as if these do head lower again, they may encourage profit-taking on the base metals.

- ends -

[pinhead3] 26/4/2006 18:55

Addas
Perhaps that's why the CRC mngt ignored the latter report to obtain their own (METS) report to verify the potential resources. Not long now until we find out.

ARP2
From memory I believe the DRC elections are on the 17th June this year.

[mad4it] 26/4/2006 18:46

drewz - Nope. Regardless of whether we see a small retracement from here followed by a bounce; thus forming a small, psuedo, handle, I do not see this formation as the beginnings of what could be described as a 'genuine' cup n handle, the time frame is far to short and the pattern is far to shallow to be considered a genuine cup n handle formation. It's merely a typical consolidation pattern, imho. But I guess it all depends on what you consider to be a genuine cup n handle formation.

Like I said, each to his own.

...and I see no evidence in the chart to suggest a sharp move up to 160p either. The only way you could extrapolate such a precise target is by applying a P&F analysis...and nobody has done a P&F analysis on CRC, on either thread.

However, I do believe CRC is likely to hit 160p at some point, but that's a different matter and is based on fundamentals, not technicals (and is assuming a stable election process and aftermath in the DRC).

[addas99] 26/4/2006 18:26

Pinhead3, re. your post 229, I would never expect two independently conducted resource estimates to match, even come close, but there's something I find odd between the Haib historic report published by Afri-Can 18 months ago and the Behre Dolbear 1996 estimate quoted by CRC.
The BD report estimates 244mt, grading 0.37%, using a cut off grade of 0.3%
The later report estimates 292mt, grading 0.46% with no cut off grade mentioned.
Without a cut off grade you could expect a higher total estimate as everything found counts but surely a lower average resource grading must result if you include the poorer finds.
It's been a long day (but a good day for CRC), maybe I'm missing something?

[drewz] 26/4/2006 17:13

mad4it, if you come back in 4 weeks time, I am certain you will see a very nice cup 'n handle chart formation well developed.

All the fundamentals re. CRC are in support of what chestnuts and pinhead have been suggesting - a sharp move up to around the 160p area.

[mad4it] 26/4/2006 17:01

Sorry chesnuts, I don't see it. It's far to shallow, indistinct and the pattern has been formed over to short a time period to be described as the beginning of a genuine cup n handle, imho. It just looks like a typical consolidation pattern to me.

But each to his own and thanks for your input.

Good luck.

[chestnuts] 26/4/2006 16:30

Hi Mad you might be right or i might be right time will tell but the handle i drawn a circle.

[mad4it] 26/4/2006 16:15

The only (arguable) cup n handle formation I can see is the one already formed and completed from the initial IPO, subsequent retracement, then the move from 40p culminating with the spike up to 86p forming the cup, then the retracement to 64p forms the handle. The subsequent rise means the cup n handle has played out in typical fashion with the second rise from 64p to the current price. I don't see another one forming atm, imho.

But I'm happy to be corrected, if you may see something I don't.

[chestnuts] 26/4/2006 16:07

Afternoon all
Long time since i posted chart looks like its forming a cup and handle and if breaks will head towards 180pish
I will post a chart later if i get the time

[arp2] 26/4/2006 15:48

when are the DRC elections?

[wassapper] 26/4/2006 14:55

I would not be surprised if compnaies like Aur were looking to get into DRC.

[mad4it] 26/4/2006 14:08

Good. We don't want a predator stealing the company for peanuts. Though, regardless of rumours, I still think predatory companies are probably watching developments at CRC with intereset. A stable DRC = A massively undervalued company.

[kamitora] 26/4/2006 13:49

CRC Group is a different company - epic CCG. This is Copper Resources Corporation.

[mad4it] 26/4/2006 13:40

I look upon takeover rumours with a pinch of salt, but there's no doubt that CRC is extremely cheap at these levels (mostly due to the risks associated with The DRP). Therefore it's reasonable to think that predators are running the rule over CRC.
If everything goes smoothly in the DRP elections, CRC will look ridiculously cheap compared to it's peers and the share price should rise, possibly forcing a predators hand before we double in price.

[suochen] 26/4/2006 12:45

Today's rise appears to be related to press speculation on take over bid:

Vague takeover rumours underpin CRC Group - Daily Mirror

[pinhead3] 26/4/2006 12:22

Addas99
Check out the Haib historic link in the header, it's the press release for the last survey carried out which increased the potential reserves above the amount that CRC carry on their website. I expect the METS survey in May to come up with similar numbers & thus an upgrade in potential reserves.

It was carried out by the previous owners & not a cast iron certainty but is an indication of what we can expect.

[wassapper] 26/4/2006 11:41

Please take a look at today's announcement from WTI (shares now suspended until 4 May I think). The deal is outlined, but you have time to make up your minds as to whether this should be another copper play for you.

This is the vison ...

"Weatherly will herewith contribute substantially to the establishment of a
regionally significant copper corridor that links the copper producing areas of
the Democratic Republic of Congo and the Copper-belt of Zambia with the copper
producing regions of Namibia, including the smelter at Tsumeb and the important
Namibian port of Walvis Bay on the Atlantic Coast. This would fulfill a vision
promoted for many years by governments and industry in those regions. The
acquisition is also part of a regional strategy whereby Ongopolo's smelter could
be expanded to process concentrates from both Weatherly's own Luanshya project
and others in Zambia and the Congo."

[wassapper] 26/4/2006 10:25

Bit of a whhhoooooooooooooooooooossssshhhhhhhh there if I can take something from the EME board. Where's Leeson?