Copper never saw this coming 📝

Posted on by Synergy Resource Capital

Read time:

2–3 minutes

Hey hey – another week is upon us, so let’s dig in. Metals, stocks, and above all, opportunities.

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Today, we’ve got commodity moves coming up, plus deals and companies in what SHOULD be a quiet week.

Let’s dig in:

  • Copper is having a moment, and it seems it can last for a minute or two. Last week, it surged past $5/lb, where it remains as long positions hold strong and LME stocks fall. Supportive voices mount, such as TD, which said about copper ‘our proprietary real-time estimates point to no evidence of a slowdown in commodity demand growth’. I wrote more about this here.
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  • Gold has lost some steam as investors seemed to settle down fears and the promise of ceasefires to extend and cool down a bit (the boiling frog metaphor comes to mind here).
  • Economic indicators: PMI in China, Chile copper output for May, plus a bunch of holidays which should make this a quiet week, namely Canada and the US (the Trump’s administration is rushing to get some trade deals before the 4th of July weekend!) plus Colombia.
  • Mexico remains a killjoy for explorers and developers. The country is decidedly not welcoming new investment, and honestly, things don’t look great for those hoping to develop a new deposit or getting new licences. My 2 cents here.

But that’s not all…

Companies

Deals, capital raising and IPOs

  • Central Asia Metals ups offer for New World Resources, valuing company at A$230 million to fend off Kinterra
  • Zijin to acquire Kazakh gold mine in $1.2 billion deal

*If you’re viewing this via email, click on the date to view the full tweet and any available sources.

  • Upcoming/recent IPOs:
    • Ballard Mining Limited $BM1 is set for a listing on ASX via A$30M raise; their focus is gold in Australia. Argonaut, Bell Potter are joint lead managers and price on listing to be A$0.30/share.
    • FinEx Metals $FINX is listed on TSX-V. They are actively exploring for high-grade gold in Northern Finland
    • More IPOs

Normally, we expect to see a lift in targets and weakness in acquiring parties. For IPOs, we like to keep an eye on listing day, as any big swings may point to opportunities.

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And here’s the thing:

Whether you are a copper bull or not, this feels obvious:

Copper seems to be adjusting to this new normal, and frankly, enjoying it all.

Who knew this could happen!

Still, we should say it’s important to ‘monitor the situation’, right?

*If you’re viewing this via email, click on the date to view the full tweet and any available sources.

And that’s it for today.

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Disclaimer: Opinions and materials presented are not investment or financial advice and are intended for informational and educational purposes only; please consult a financial advisor before investing. Companies mentioned publicly may be held and/or clients, except within the member section. Content might contain affiliate links. By reading or sharing, you agree to our full disclaimer.

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Sources: Canaccord research, Bloomberg, Reuters, Mining.com, TradingView, ASX, TMX, plus our own research. Figures always shown in US dollars unless clarified.

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