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eli
is pineda coming back? or katput?
hey cat
i just made 4k on a big board trade
do you still like ftr
for the dividend?
hawk
hey Eli
i would not be surprised if hughes is pitching his way toward a trade by cashman
he his just terrible these days
you're kidding.....lol he really bought this at .15
wow
thanks
maybe my headache will go away now
it's the day trader penny players that i find offensive
ugh you're giving me a headache
cry baby time already today?
Copper Miners Shrug off Q1 Disappointments on Bullish Outlook
Email Print Reproduction
Wed, Apr 25, 2012 Copper Articles, Feature Articles
Post by Shihoko Goto, Copper Reporter By Shihoko Goto — Exclusive to Copper Investing News
inShare.0
A fall in copper prices, coupled with labor unrest and lower-quality metal output, has put a dent in some of the world’s top red metal producers during the first three months of this year. However, looking ahead, mining groups are mostly upbeat about demand outstripping supply, and many expect prices to be on the rise as China’s appetite for copper remains steady and the global economy gains a steady foothold.
These circumstances mean that while Freeport-McMoRan’s (NYSE:FCX) performance in the latest quarter fell well short of past results, analysts were not fazed. Indeed, investors such as BB&T Capital Markets are maintaining a buy recommendation for the Arizona-based group. Last week, Freeport-McMoran reported that first quarter net earnings fell to $764 million, or 80 cents a share, versus $1.5 billion, or $1.57 a share a year ago. Revenue dropped to $4.61 billion from $5.71 billion during the same period in 2011. The disappointing results were, however, in line with the majority of analysts’ expectations, especially as the biggest publicly-traded copper producer struggled with a workers’ strike at its Grasberg mine in Indonesia in February. Copper output at Grasberg tumbled to 123 million pounds in the latest quarter, down from the 284 million pounds mined a year ago. Freeport-McMoRan expects its copper and gold mining operations at Grasberg to reach their full capacity of 240,000 tons a day by 2016.
As a direct result of the February unrest at the Grasberg mine, Freeport’s copper sales reached 827 million pounds, which was lower than the 875 million pounds it had expected. Looking ahead, the company expects 2012 copper sales to reach 3.7 billion pounds, about 100 million pounds lower than its earlier projection. Nevertheless, CEO Richard Adkerson is upbeat about the company’s outlook and anticipates that global appetite for the red metal will outstrip supply. During an earnings conference call with analysts, Adkerson said that “2012 appears to be another year of deficit in the copper market.” Demand from China, which accounts for 40 percent of the world’s copper market, is expected to be particularly strong as “investments in urbanization and infrastructure support that marketplace. All of those investments require significant amounts of copper,” Adkerson said.
As for BHP Billiton (ASX:BHP), its copper output rose three percent from a year ago to 281,400 tonnes, which included 87,700 tonnes of mined copper and 47,400 tonnes of copper cathode from its Escondida mine in Chile, the largest copper mine in the world. In February, BHP approved plans for a $2.6 billion expansion of Escondida with Rio Tinto (LSE:RIO); the two companies own stakes in the mine of 57.5 percent and 30 percent respectively. BHP also announced its decision to restart mining at its Pinto Valley site in Arizona, highlighting the company’s bullishness about future copper demand.
Copper output by Rio Tinto dropped 18 percent from a year ago to 119,500 tons due in large part to lower-grade metal production at its Kennecott operation in Utah. For the full year, Rio Tinto expects mined copper output to reach 600,000 tons and refined copper output to total 320,000 tons, which are below the projections of many analysts. The company’s much-ballyhooed Oyu Tolgoi mine in Mongolia will not add to its sales until 2013, even though the mine is forecast to produce up to 450,000 metric tonnes of copper per annum when it reaches full capacity. Still, CEO Andrew Harding anticipates robust global demand moving forward, with China continuing to lead the way, stating, “I am confident that growth in China will stay at the levels we’re currently seeing.”
or 10 cents
agree
lol
good game last night i caught the last 3 innings you have a winner in darvish
its a long season
lol
i like and respect his thoughts on liberty and what is happening in arizona
he is quite knowledgeable
hawk
and he is not a cry baby who every day complains
YANKEES !!! yea
lol
sorry i had to visit you
hawk flying
penny stock day trader?
did anyone see the picture of the albino killer whale
just unreal
how exciting
Red sox don't have the pitching. It could be a long and rocky season for the sox. What a shame. I'm predicting rays and yanks. Tigers. Rangers and angels get into post season
Well they won and the rangers beat the sox
yankeees vs twins tonight
CC goes for his first win of the season
and i am going to watch it happen
go yankees
and NY rangers too(hockey)
good luck
wow sorry
did you have 50000 shares?
excuse me i only enjoy reading opinions when they are back by facts
all others are a waste of my time
TIA
you're being generious on that 2% number
yes conections that vollmer and Liang have??
whats happening in arizona this week
we wait
but not forever
Bela777. I have a pretty good picture of the deal here. And IMO will know in a short time where this will be going. So we will see and you have a great weekend
what happened to KY?
actually it proves alot to me thanks for posting
excellent
thank you
understood
sorry to be so naive
but how does this work
they anounce drilling then how long does it take
to find minerals
then how long to start extracting the minerals and get them somewhere
to be sold
cloudy morning for me
TIA
hawk flying
x-cept most of that 1.5 million as you suggest are options
oops
YES AND YES
it's great
just a matter of time
great release today
patience may just reward us all
good luck
and this too;
A precisely targeted exploratory drilling plan will be the outcome of the combined geoscientific exploration procedures described above. This drill plan will be accomplished after permitting and obtaining a drill contract.
so just a few more steps to overcome and its going to be easy for the brisco team to get them done too.
does anyone here have news or am i going to be forced to waste my time every day reading nonsense
gee imagine if 200 million shares were dumped on the market
what would happen--Duh?
we wait
maybe someone who ran Lehman brothers will step in and help put toghether a JV for LBSR--
lehman brothers
ok
we wait
what you talking about willis?
the last trade was green
good morning MG
in the three years i have seen your posts on ihub i think your last comment may have been the most prolific
If we know what the stock will do we would all be rich and there would not be any discussion
have a nice day
hawk flying
good day bh
thanks for posting this article IMO
it gives a good perspective as to where the
aklaska deal is headed in the future
keep on digging
hi mg
good day
go back and reread the past few press releases
and again read and tell me what brisco said
you should then be confident
my patience is tested every day longer that this takes for at least some kind of positive news
lab samples from canada??
Ztem testing?
thunder storms?
have a nice day
see you in a few weeks
hawk flying
Mg. hay is a sure thing. See you in a few weeks
Mg. hay is a sure thing. See you in a few weeks
nah
he works at LBSR full time and thats why he gets paid
but he is going to be filthy rich soon
as he uncovers the riches at hay
really what what brisco's salary in the past 2 years
its public
i Know and its not alot
LOL
that's the way it works
market makers trade it down
flipping amongst themselves
and droping the PPS. you and I are not selling believe me!!
all the time knowing or correctly guessing what is about to happen
then kaboom they make even more on the news and big runup as retail gets in
it's almost a big computer game they play every day with every stock
that's how they drive the ferrari's
good luck and be very patient
very!!!!