By Otto Rock of IKN
1) Bloomie: “Copper Rally Overhyped for Skeptics Seeing Big Discount on Metal“. Though reasonably bullish myself, there’s a lot to agree with here. I too think this move that pinged U$3/lb is too far too fast and the correction could burn hot money. I too think there’s little in the way of fundies demand data to justify this pop. I too watch inventory data.
2) Scotia Scoop reports on the Tahoe Resources (TAHO) (THO.to) blockade like this:
Tahoe Resources à Reports of La Arena Facing Protestor Blockade: Reports trickling out of Peru yesterday that protestors have blocked access to Tahoe Resources’ (THO-CN/TAHO-US, Not Covered) La Arena Gold oxide heap leach mine in Peru. Protest leaders are at odds with the company’s recent dismissal of Mr. Mariano Yupanqui Rada, described as both mine manager and whom is also described as having very close ties with the local community. While just a blockade for now, a union leader at the mine are on record to have said that the will union will go on an indefinite strike starting August 31 if this specific issues is not resolved. La Arena currently represents 10% of Scotia Mining Sales’ THO NAV.
Trickling out? Trickling out??? And a hastily searched-for link to a local reporter? Seriously guys, you’re THAT petty? If paste out in full your proprietary analysis, don’t send a cease & desist. Dumbasses.
3) Sandstorm (SAND) gets its chunk of Mason Resources (MNR.to) for 13c in the spin-out in May 2017, books it M2M for 16c in its 2q17 filings dated June 30th, sells it to HudBay (HBM) for 26c in August. Makes C$1.4m profit, puts C$2.8m into treasury. Good deal, that’ll help pay for Nolan’s buyback program.Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.