⛏ Copper Bull Start?

PLUS: High-Grade Gold in The Abitibi

👷‍♀️ Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and go to the zoo. 🐒

📌 Commodity Prices

Source: Trading Economics, Numerco.

📝 Here are the highlights

🤔 Copper Bull Start?

😎 High-Grade Gold in The Abitibi

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🤔 Copper Bull Start?

China's leading copper smelters have decided to reduce their production by 5% to 10% and will not issue guidance prices for copper treatment charges (TCs) for Q2, citing a disconnection between the spot market and actual market fundamentals due to a shortage of raw materials and a significant fall in TCs.

This decision follows a meeting of the China Smelters Purchase Team (CSPT) in Shanghai, reflecting challenges like the global supply shortage highlighted by the closure of the Cobre Panama mine. Despite proposals for production cuts earlier, no specific actions were implemented.

Market analysts believe these measures could support copper prices amid a forecasted global copper deficit, potentially increasing the metal's price in the coming years.

However, the immediate market reaction saw a slight decrease in copper prices, because in mining investing up is down and down is up — deal with it.

😎 High-Grade Gold in The Abitibi

Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) announced that it has intersected the highest-grade gold composite to date on the Gratien Zone, on the Perron Project in the Abitibi region of Quebec.

Highlights:

  • 3.50 m of 76.69 g/t Au, including 0.60 m of 431.72 g/t Au.

  • 7.30 m of 8.16 g/t Au, including 0.50 m of 98.17 g/t Au.

The market actually gave this a thumbs up, as the stock is up a tidy 9% as we type, and we’re talking a company that’s already sitting on C$200m+ market cap — that’s not a small feat.

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