Spectacular copper price rally only gaining momentum...

Spectacular copper price rally only gaining momentum

https://www.mining.com/spectacular-copper-price-rally-only-gaining-momentum/

As for the long-term copper demand outlook, few analysts have graphs that don't start in the bottom left corner and end near the upper right.

For those interested, this is Goldman Sachs long-term commodity price forecasts in US$ (real and nominal) as at 5 April 2024.


During US trading overnight, copper for delivery in May'24 hit an intra-day high of US$4.51/lb or US$9,942 a tonne, up more than 16% so far during 2024 (most of that coming during April) and the highest since the beginning of June 2022.

Both spot gold price (US$2,322/oz) and gold futures May'24 (US$2,405/oz) are currently significantly above Goldman Sachs' long-term gold price in US$ (both real and nominal).

Havilah should be ideally leveraged to benefit from a second secular copper bull market with its two advanced copper projects (Kalkaroo and Mutooroo), along with its large and highly prospective 100% owned exploration acreage (Eurinilla Dome prospect, Birksgate prospect, Homestead prospect, Deep Well prospect, Johnson Dam prospect).


"A great time to be exploring for copper and gold and to be dealing on copper–gold assets due to the near record AUD nominal copper and gold prices." [Dr Chris Giles, Havilah's Technical Director, quote from slide 15 of his 2023 AGM Technical Review Presentation]




Cheers

These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.