Quadra Mining Forward p/e unter 4 - 500 Beiträge pro Seite

[Statistix]

~64 million shares, fully diluted, @ C$14/share = ~C900 million in market cap. fully diluted.
~$280 million cash ---> $620 million market cap., net of cash, fully diluted.
EBITDA before realized loss on derivative, in Q 1, of ~U.S.$67 million, or ~C$75 million. Annualized this is ~C$300 million in EBITDA. The company is now hedge free, and copper and gold prices are significantly higher than Q 1 levels. The company is therefore selling at ~ 2X EBITDA.

Quadra is debt free, meaning debt could finance mine development, and exploration, without additional dilution, as they wait for the conversion of $20 warrants, etc.
Developing multi-mine pipeline, and expanding reseve base, with potential for re-rating of the stock.

1) Robinson mine(Nevada):
- 2007 forecast of 125 million lbs. copper at costs of C$1.30/ lb.
- 60,000 ozs. of gold.
- \"Cornerstone for Growth\"(not properly explored historically),
- Nine years of reserves,
- Cost ~$1.30/lb.
- 1st Quarter production 36 million lbs. of copper, 30,000 ozs. gold suggesting potential to beat forecast.
2) Carlota mine(Arizona):
- Anticipated 75 million lbs./yr., yielding a potential 60% increase in copper production over the Robinson mine,
- All required permits received,
- Heap leach,
- 9 year life,
- Cost $1/lb.,
- Start up second half of next year,
- LME quality into U.S. receives premium price.

3) Sierra Gorda(Chile):
- Potential upside 5 billion lbs. copper(byproduct MO, Au),
- $15 million in exploration going in.
4) Malmbjerg(Iceland):
- Moly,
- 2010-2011.

[Statistix]

Quadra Mining Ltd. Announces Strong First Quarter 2007 Financial Results
Monday April 23, 9:00 am ET

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 23, 2007) - (All figures are in $ US thousands unless otherwise stated)

Quadra Mining Ltd. (the "Company" or "Quadra") (TSX:QUA - News) is pleased to announce net earnings of $43,111 or $1.13 per share for the first quarter ended March 31, 2007. For the three months ended March 31, 2007, Quadra recorded revenues of $136,455 which is a 62% increase compared to revenues generated for the same period in 2006.


March 31, March 31,
US $ 000s (except per share data) 2007 2006 (3)
------------------------------------------------------------------------

Revenues from Concentrate sales 136,455 83,936

EBITDA before realised loss on derivatives (1) 66,716 28,668
EBITDA after realised loss on derivatives (2) 44,490 18,683

Earnings (loss) for the period 43,111 (35,163)

Basic earnings (loss) per share $ 1.13 $ (1.15)

Diluted earnings (loss) per share $ 1.12 $ (1.15)

Cash from operating activities before working
capital 41,608 15,725
Net change in non-cash working capital (26,703) (21,050)
---------- ----------
Cash received from (used in) operating
activites 14,905 (5,325)
---------- ----------
---------- ----------

(1) Non GAAP measure which is based on operating income adjusted for
non cash items less general and administrative costs
(2) Non GAAP measure which is based on operating income adjusted for
non cash items and realised gain or loss on derivatives less general
and administrative costs
(3) Figures for period March 31, 2006 have been re-stated for the
application of EIC 160 for Striping cost incurred in the production
phase of a mining operation


Paul Blythe, President and CEO of Quadra, comments, "We are very pleased to report a strong financial performance for the Company this quarter even as we close out the last of our 2006 hedge position. With the 2007 production profile at Robinson now hedge free we will realize the full benefit of the current copper price environment. In the first quarter 2007, copper production of 36.6 million pounds was a quarterly record for Robinson as operated by Quadra while gold production of 31,040 ounces was a historical record for the mine. Production momentum has been maintained quarter by quarter and we are very proud of the accomplishments of the operations team. One of the more significant impacts of such high production numbers is in the way that it impacts unit costs. With increased copper production and significant by product revenue from the gold sales, unit cash costs for the quarter of $1.22 per pound of copper produced were significantly lower than previous quarters."

"While quarterly production fluctuates according to the variability of the head grade at Robinson, we have learned a lot about the deposit and have begun to see the mine operate with an ever increasing level of predictability. We are also striving to mitigate industry cost pressures in a number of areas including the management of our fuel costs, where we have locked in our 2007 fuel requirements at significantly lower prices than seen during 2006, and by entering into long term tire contracts. The reduction of smelting and price participation rates should also impact our cost profile positively as we go forward. We expect the current copper price environment to continue and feel the company is well positioned to generate significant operating cash flow going forward."

A summary of the financial statements together with the Management Discussion and Analysis ("MD&A") are provided below. The complete financial statements and the MD&A will be available at www.quadramining.com and www.sedar.com.

The following Management Discussion and Analysis ("MD&A") of Quadra Mining Ltd. and its wholly owned subsidiaries ("Quadra" or the "Company") has been prepared as at April 20, 2007 and is intended to supplement and complement the accompanying unaudited financial statements and notes for the three months ended March 31, 2007. This discussion includes certain statements that may contain 'forward looking' information and reference to the cautionary statement at the end of this MD&A is advised. Additional information relating to the Company, including its Annual Information Form ("AIF"), is available on the SEDAR website at: www.sedar.com. The Company is a reporting issuer in all provinces and territories of Canada and trades its common shares on the Toronto Stock Exchange under the symbol: QUA.

All financial information in this MD&A is prepared in accordance with the Canadian Generally Accepted Accounting Principles and all dollar amounts are expressed in thousands of United States dollars unless otherwise indicated.

DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS

Quadra is a base metal producing company that owns and operates the Robinson copper mine ("Robinson Mine") near Ely, Nevada. In addition, Quadra holds a 100% interest in the Carlota Copper Project ("Carlota"), a heap leach - SX/EW copper project under construction in Arizona. The Company also has an option to purchase the Sierra Gorda Project, a late stage exploration property near Antofagasta, Chile. The strategic plan of the Company includes growth by optimising operations, developing projects and pursuing merger and acquisition opportunities.

First Quarter Highlights

- The Robinson mine generated revenue of $136,455 from the sale of 40.5 million pounds of copper and 31,238 ounces of gold in concentrates compared to revenue of $83,936 from the sale of 31.0 million pounds of copper and 24,825 ounces of gold in the same quarter in 2006.

- Operating income for the quarter ended March 31, 2007 was $64,972 compared to $27,060 for the quarter ended March 31, 2006.

- During the quarter ended March 31, 2007 the Company incurred a realized loss on derivatives of $22,226 and an unrealized gain on derivatives of $19,714 compared to a realized loss of $9,985 and an unrealized loss of $59,063 in the quarter ended March 31, 2006.

- Earnings for the quarter ended March 31, 2007 were $43,111 or $1.13 per share-basic and $1.12 per share-diluted compared to a loss of $35,163 or $1.15 per share for the quarter ended March 31, 2006.

- Production for the quarter was 36.6 million pounds of copper and 31,040 ounces of gold compared to 25 million pounds of copper, 14,471 ounces of gold and 144,000 pounds of molybdenum for the first quarter of 2006.

- Onsite and offsite costs were $45,424 and $20,666 respectively for the quarter ended March 31, 2007 compared to $40,546 and $22,076 respectively for the same period in 2006.(i)

- There were no lost time accidents in the quarter as the Robinson Mine continues to focus on safety and training.

- The Company completed a $200,000 secured term loan financing for the construction of the Carlota project, re-payment of the Company's working capital facility and general corporate purposes.

- Quadra announced its intention to make an offer to acquire all of the issued share capital and traded warrants of International Molybdenum Plc ("Intermoly") in exchange for the issuance of 3.9 million Quadra shares valued at CAD$34,447 based on the price of Quadra shares at market close on March 28, 2007.

(i) Under Canadian Generally Accepted Accounting Principles, offsite and onsite cost terms are not defined terms. Onsite costs consist of mining costs, equipment operating lease costs, mill costs, mine site general and administration costs, royalties and environmental costs. For financial statement reporting purposes, royalties are reported separately from cost of goods sold. Offsite costs consist of the costs associated with the transportation, smelting and refining of concentrate.

OVERALL PERFORMANCE

Financial Results


--------------------------------------------------------------------------
As restated As restated
For the quarter ended March 31, 2007 2006 2005
--------------------------------------------------------------------------
Concentrate production (DMT) 65,147 50,229 48,862
Concentrate sales (DMT) 76,722 58,036 52,725

Statement of operations ($000)
Revenues from concentrate sales 136,455 83,936 43,474
Cost of sales 62,234 51,188 35,199
Amortization, depletion and
depreciation 3,565 2,857 1,653
Accretion of asset retirement
obligations 479 524 486
Royalties and mineral taxes 5,205 2,307 76
--------------------------------------------------------------------------
Operating income 64,972 27,060 6,060
--------------------------------------------------------------------------
General and administrative 2,300 1,773 1,546
Realized loss on derivatives 22,226 9,985 -
Stock-based compensation 383 227 625
Foreign exchange loss 19 276 29
Net interest and other (income)
expense (118) 812 (49)
--------------------------------------------------------------------------
Earnings before other items 40,162 13,987 3,909
--------------------------------------------------------------------------
Unrealized (gain) loss on
derivatives (19,714) 59,063 (599)
--------------------------------------------------------------------------
Earnings (loss) before income taxes 59,876 (45,076) 4,508
--------------------------------------------------------------------------
Income tax - current 3,150 1,870 -
Future income tax expense
(recovery) 13,615 (11,783) 720
--------------------------------------------------------------------------
Earnings (loss) 43,111 (35,163) 3,788
--------------------------------------------------------------------------
Basic earnings (loss) per share $ 1.13 $ (1.15) $ 0.14
Diluted earnings (loss) per share $ 1.12 $ (1.15) $ 0.14

Financial positions ($000)
Total assets 531,266 308,182 161,691
Total long-term financial
liabilities 221,642 50,230 29,123
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Revenues

Revenue is primarily affected by sales volumes and commodity prices. All of the Company's revenues are currently generated by the Robinson Mine.

Revenues from concentrate sales were $136,455 for the quarter ended March 31, 2007 compared with $83,936 in the same quarter in 2006. The increase in revenue in 2007 over 2006 was due to a combination of: the average copper price received upon shipment for 2007 being $2.66 compared to a price of $2.22 in 2006; a 31% increase in pounds of copper sold in the first quarter of 2007 compared to the same period in 2006; a 26% increase in the ounces of gold sold in the first quarter of 2007 compared to the first quarter of 2006. The average LME copper price was $2.69 in 2007 compared to $2.23 in 2006. Refining and treatment charges, which are deducted in arriving at revenue, were $10,408 for the quarter ended March 31, 2007 compared to $12,973 in 2006 (see Offsite Costs).

Cost of Sales and Expenses

Cost of sales for the quarter ended March 31, 2007 were $62,234 compared to $51,188 in 2006 reflecting the 32% increase in volume of concentrate sold in the first quarter of 2007 compared to the first quarter of 2006. Amortization, depletion and depreciation for the quarter ended March 31, 2007 was $3,565 compared to $2,857 in 2006 reflecting higher sales volumes and increases in depreciable assets.

Royalties and mineral taxes for the quarter ended March 31, 2007 were $5,205 compared to $2,307 in 2006. Higher copper and gold prices impacted royalty expense and Nevada net mining proceeds tax.

Operating income for the quarter ended March 31, 2007 was $64,972 compared with $27,060 in 2006. The increase in operating income in the first quarter of 2007 compared to the same period in 2006 was primarily driven by higher sales volumes and commodity prices.

General and administrative expenses were $2,300 in 2007 compared to $1,773 in 2006 due to increased activities at the corporate office associated with the Term Loan Financing and the InterMoly Offer.

The realized loss on derivatives was $22,226 in 2007 compared to $9,985 in 2006. The increase in realized losses in 2007 compared to 2006 reflects the impact of the copper hedging program entered into in the fourth quarter of 2005 and higher copper prices relative to the hedge price in 2007 compared to 2006 (see Financial Instruments and Other Instruments).

Net interest and other income were $118 in 2007 compared to an expense of $812 in 2006 due to higher cash balances and reduced usage of the short-term debt facility.

Earnings before income taxes were $59,876 in 2007 compared to a loss of $45,076 in 2006.

The Company recorded current and future income tax expenses of $3,150 and $13,615 respectively for the quarter ended March 31, 2007 compared with a current tax expense of $1,870 and a recovery of $11,783 in 2006. The tax provision was recorded based on an effective tax rate of 28% in the quarter ended March 31, 2007 compared to 22% in 2006. The increase in the effective tax rate is due to the movement in earnings before tax from a loss position in 2006 to an earnings position in 2007.

For the quarter ended March 31, 2007, the Company reported earnings of $43,111 or $1.13 per share - basic and $1.12 per share - diluted as compared to a loss of $35,163 or $1.15 per share for the quarter ended March 31, 2006.

Financial Position

Total assets as at March 31, 2007 were $531,266 compared with $335,966 at December 31, 2006. The increase in assets during the quarter ended March 31, 2007 was primarily due to the following;

- increases in cash arising from operations and the term loan financing (see "Term Loan Facility"), and

- increase in receivables and prepaid expenses due to the impact of the increase in copper price on the marked to market value of expected final settlements for shipments.

Total long-term financial liabilities as at March 31, 2007 were $221,642 compared with $37,061 as at December 31, 2006. The increase in long-term liabilities is due to the issuance of the term loan financing.

ROBINSON MINE

Operational Results for the Robinson Mine for the Quarter Ended March 31, 2007

The performance of the Robinson Mine, when considered quarter on quarter, or quarter to quarter, varies as a result of changes in head grade, metal recovery and waste stripping requirements. Comparative production statistics are as follows:


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2007 2006
--------------------------------------------------------------------------
Q1 Total Q4 Q3 Q2 Q1
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Copper production
(million lbs) 36.6 121.4 35.3 33.3 27.8 25
Gold production
(ozs) 31,040 75,074 27,646 20,425 12,532 14,471
Waste mined
(tonnes 000's) 16,249 59,212 13,964 14,425 16,605 14,218
Ore mined
(tonnes 000's) 3,068 15,281 4,121 4,175 3,274 3,711
Ore milled
(tonnes 000's) 3,302 13,860 3,919 3,426 3,422 3,093
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Onsite costs $45,424 $181,962 $46,250 $50,287 $44,879 $40,546
Offsite costs $20,666 $ 80,024 $17,916 $16,932 $23,100 $22,076
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Total costs $66,090 $261,986 $64,166 $67,219 $67,979 $62,622
Capital
expenditure $ 4,039 $ 11,555 $ 4,100 $ 3,573 $ 3,074 $ 808
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By-product credits
- Gold and silver $21,397 $ 44,100 $16,441 $ 7,421 $ 8,713 $11,525
- Molybdenum - $ 6,075 $ 334 $ 1,063 $ 1,527 $ 3,151
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Copper grade (%) 0.67 0.61 0.67 0.69 0.52 0.53
Gold grade (g/t) 0.46 0.31 0.41 0.32 0.24 0.27
Copper recovery 75.0% 65.4% 61.0% 63.4% 70.3% 69.5%
Gold recovery 63.1% 53.6% 53.7% 57.9% 47.5% 54.5%
Mill operating
time 88% 90% 95% 89% 89% 89%
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During the quarter ended March 31, 2007, mining activity took place in the Veteran area of the Tripp - Veteran pit whereas mining activity for the first two months of the quarter ended March 31, 2006 took place in the Tripp area. During the quarter a total of 19,317 tonnes of ore and waste were mined. This is an 8% increase over the 2006 quarter of 17,929 tonnes, and represents an average mining rate of approximately 215,000 tonnes per day. The increase in mining rate was a result of increased efficiencies due to improved operator skills and mining largely in the Veteran area of the pit which was not subject to the slope stability issues encountered in the Tripp area in 2006.

Copper production for the quarter ended March 31, 2007 was 36.6 million pounds, a record quarter for the mine as operated by Quadra, compared to 25 million pounds for the same quarter in 2006. The increase in copper production in the first quarter of 2007 compared to the first quarter of 2006 was due to the combination of an increase in copper head grade of 26% and an increase in copper recovery of 8%.

Gold production was 31,040 ounces, a record quarter for the mine, compared to 14,471 ounces in the same quarter in 2006. The increase in gold production in the first quarter of 2007 compared to the first quarter of 2006 was due to the combination of an increase gold head grade of 70% and an increase in gold recovery of 16%. Due to low molybdenum head grades there was no molybdenum production in the first quarter of 2007 compared to 144,000 pounds in the first quarter of 2006.

Operating Costs

Onsite Costs

The key drivers of onsite costs are;

- The volume of waste and ore moved,

- Salaries, wages and benefits,

- Equipment maintenance costs and consumables, and

- Royalty costs, which in turn are driven by mineral production and metal price.

Onsite costs for the quarter ended March 31, 2007 were $45,424 compared to $40,546 for the quarter ended March 31, 2006. Royalty costs accounted for $2,751 of the increase of $4,878 due to higher copper prices (which averaged $2.69 per pound in 2007 compared to $2.23 per pound in 2006) and the impact of the royalty costs now fully payable (See Cost of Sales and Expenses).

Offsite Costs

The key drivers of offsite costs are;

- Smelting and refining charges from customers, together with customer price participation,

- The volumes of concentrate transported and sold, and

- Freight rates, both rail to the port facility in Vancouver, Washington and ocean to smelter destinations in Asia.

Offsite costs were $20,666 for the quarter ended March 31, 2007 as compared to $22,076 for the quarter ended March 31, 2006. The decrease in offsite costs consisted primarily of a decrease of $2,565 in the charges from customers for conversion of concentrate to refined metal and an increase in transportation costs of $1,222. Conversion charges from customers decreased, despite an increase in concentrate sold of 32% and higher copper prices, due to downward pressure on treatment charges arising from surplus smelting capacity. Transportation costs increased due to an increase in the volume of concentrate sold, and an increase in ocean freight rates, reflecting a general tightening in the ocean freight market.

For the quarter ended March 31, 2007 the cash cost per pound of copper produced, including stripping costs, was $1.22 per pound compared to $1.92 per pound in 2006. Although total costs remained broadly in line between the first quarter of 2007 and 2006; the cash cost per pound of copper produced decreased due to the increase in copper production and the increase in by product revenue which was driven by increased gold production and gold price The cash cost per pound of copper produced is a non-GAAP term and consists of onsite and offsite costs, less by product revenue, divided by the pounds of copper produced in the period.

Outlook

Mining

Development of the Veteran Pit is currently planned in two phases. The first phase is expected to be completed by mid-year 2007 at which time the second phase will provide ore for the remainder of the year. The geology is such that the second stage will encounter a supergene zone of secondary enrichment in the upper portion of the deposit, where the ore grade will be higher and the metallurgical recovery lower. This is similar to the occurrence of supergene in the last two quarters of 2006, except that based on historical records, it is expected that minimal underground workings will be encountered in 2007. The expected supergene material represents approximately 15% of the ore planned to be mined in 2007 and this impact has been recognized in production guidance.

There continues to be a global shortage of large off-road tires. Special emphasis has been placed on tire life and performance, and the mine has made arrangements to procure an adequate supply for 2007. To control the input cost of tires and fuel the Company has entered into fixed price contracts for their supply. By the fourth quarter of 2006, elements of the primary haulage fleet had reached the hours of use at which major engine and drive train components required replacement in accordance with the manufacturers' normal maintenance programme schedules. This replacement programme is expected to continue in 2007.

Processing

Mill recoveries are expected to follow the trends seen in 2006 and the first quarter of 2007, with variable recoveries in the upper benches of the ore body, lower recoveries but higher grades in the supergene material and higher recoveries in the hypogene material below the supergene. A lime slaking system was built and is expected to be fully operational in the second quarter of 2007. It is expected that this system will increase the ability to control chemical conditions when processing the supergene material. This may result in improved metallurgical performance.

Molybdenum head grades are expected to be low and erratic during 2007. The current database and operating experience indicates that there may not be significant molybdenum production from the Veteran pit, which will be the primary production pit until 2009, when the operation will begin transitioning to the Ruth pit.

Offsite Costs

Smelting costs have fallen significantly in the latter part of 2006 and early 2007. This will impact operating costs on a go forward basis. There is expected to be upward pressure on freight rates, as a result of port congestion in Australia.

CARLOTA

During the quarter ended March 31, 2007 the Company completed a $200 million term loan financing, the use of which includes the construction of the Carlota project. In addition the Company incurred $798 of acquisition costs, representing the increase in the value of the deferred gold consideration during the quarter, and $3,028 of development costs on the Carlota project, of which $1,253 were capitalized interest and costs associated with the secured term loan, compared to acquisition costs of $3,201 and development costs of $1,357 during the same period in 2006. Acquisition costs were higher in 2006 due to the payment of 6,250 ounces of gold while higher development costs in 2007 reflect higher levels of activity.

Development activities in the quarter ended March 31, 2007 consisted of drilling additional monitoring wells, water supply system development, site access roads development, ordering of mining and processing equipment, the development of detailed engineering and preparation of construction schedules and detailed cost estimates for the project.

At March 31, 2007 an additional four quarterly gold payments of 6,250 ounces of gold remain to be completed in accordance with the Purchase and Sale agreement.

Permitting and related activities included completion of the Gibson Mine Clean-Up Project. During the quarter the Project received verification from the Environmental Protection Agency (EPA) that the clean-up met the Carlota NPDES permit conditions.

During the quarter ended March 31, 2007 the Company purchased the first 3 of 7 Komatsu 830E AC haul trucks. At March 31, 2007 the Company had commitments associated with the project totalling $34,000.

Outlook

Subsequent to March 31, 2007 the Company completed commitments totalling $11,445 in connection with the purchase of a loader, 4 crawler tractors and an additional 3 haul trucks.

Construction contracts and final pricing on all major supplies are expected to be complete during the second quarter of 2007. Land clearing for the leach pads is scheduled to start shortly and preproduction mining activities are expected to commence in the second half of 2007.

Management estimates that the project has an eleven year life and an estimated operating cost of $0.99 per pound of copper produced. The Company continues to progress the development of the project and anticipates some copper production in the second half of 2008.

SIERRA GORDA

During the first quarter of 2007, $711 was spent on the project compared to $387 in 2006. The work focused on arranging personnel and drill equipment.

Outlook

The results from the deep sulphide drilling have moved the focus from an oxide heap-leach project to a potentially larger project that would encompass both heap leaching and primary sulphide production.

Follow-up drill programs commencing in April 2007 are designed to extend the deep sulphide mineralization, evaluate the targets under the colluvium cover and provide enough data to establish an inferred resource. Also favourable alteration identified during the shallow hole grid program of last year will be followed up with a detailed evaluation programme to define an inferred soluble resource. Management has plans to spend $10,700 and has approval to spend up to $15,000 in 2007 if warranted. Two drills are currently at the site with another four drills expected to arrive in the next few months.

A study of all process water options is expected to be completed in 2007.

Market Trends and Fundamentals

Copper Uses

Management estimates that global copper consumption was approximately 17.5 million tonnes in 2006 and is expected to be 3% to 4% higher in 2007. Growth in the demand for copper has been accelerated by the rapid industrialization of emerging economies in Asia, particularly China, and is spurred by expansion of domestic and foreign demand for manufactured products, growth in the housing market and expansion of power infrastructures.

Copper Price

Since 2003, the growing demand for copper, particularly in China, coupled with an inability of the copper industry to increase supply due to a lack of immediate development projects, has resulted in decreased inventories of copper. These low inventories, together with a weakening U.S. dollar, have led to a substantial increase in the copper price. On May 11, 2006, the spot price of copper on the LME rose peaked at $3.99/lb.

To view graph showing the LME inventory level of copper and the spot price of copper from 1990 to March 30, 2007, please click on the following link: http://www.ccnmatthews.com/docs/QUAgraph.jpg

Inventories published on the LME declined to a 30 year low of only 25,525 tonnes on July 22, 2005 but they have since rebounded to 178,075 tonnes as of March 30, 2007.

The copper price increased by 28% during the past 12 months with prices increasing from $2.46 per pound on March 31, 2006 to $3.15 per pound on March 31, 2007 and had increased to $3.60 per pound on April 19, 2007.

The reference price of copper metal is determined by trading on the LME, where the price is set in U.S. dollars at the end of each business day. Changes in the price of copper may therefore differ when expressed in other currencies as the result of a relative weakening of the U.S. dollar.

Operating Results by Segment

The only operating segment of the Company is the Robinson Mine. The Company is also beginning the construction of the Carlota Project in Arizona and is developing the Sierra Gorda Project in Chile.

OFFER FOR INTERNATIONAL MOLYBDENUM

On March 30, 2007 Quadra announced its intention to make an offer (the "Offer") to acquire all of the issued share capital (the "InterMoly Shares") and traded warrants (the "InterMoly Warrants") of International Molybdenum Plc ("InterMoly"), a company listed on the Alternative Investment Market in London whose principal asset is a molybdenum exploration project in Greenland.

The Offer is based on InterMoly shareholders receiving one Quadra share for each 36.22 InterMoly shares and InterMoly warrant holders receiving one Quadra share for each 99.23 InterMoly warrants. Based on the market close for Quadra shares on March 28, 2007 of CAD$8.79 the Offer values the combined shares and warrants of InterMoly at CAD$34,447 (CAD$48,202 based on closing price of CAD$12.30 on March 19, 2007). This represents a premium of 77.9% over the share price on March 6, 2007, the last trading day prior to the increase in the InterMoly share price which led to the announcement by InterMoly on March 8, 2007 that it was in preliminary discussions concerning a possible offer.

An irrevocable undertaking to accept the Offer has been received from Galahad Gold plc ("Galahad") in respect of 106,666,700 InterMoly Shares and 3,333,350 InterMoly Warrants, representing approximately 78% of the InterMoly Shares and 25% of the InterMoly Warrants. This irrevocable undertaking will continue to be binding even in the event of a competing offer being made for InterMoly.

The InterMoly Directors consider the terms of the Offer to be fair and reasonable and have agreed to recommend the Offer to holders of InterMoly Shares and InterMoly Warrants.

InterMoly is the owner of the Malmbjerg molybdenum project in Greenland which, based on a December 2005 technical report prepared for InterMoly, has a NI 43-101 compliant Measured and Indicated resource of 217 million tonnes at 0.12% Mo and containing 560 million pounds of molybdenum. Management consider Malmjberg to be one of the more significant known high grade advanced stage primary molybdenum projects that is being considered for development.

InterMoly has stated that they believe it may be possible to develop an open pit mine that would operate 365 days per year at a scale of 25,000 tonnes per day mill feed. Processing of the ore would be by standard flotation procedures resulting in an expected annual production of approximately 10,000 tonnes of molybdenum.

Quadra will prepare and mail to all InterMoly shareholders and warrant holders an Offer Document describing the terms of the Offer. The Offer is subject to a number of conditions including;

- acceptance of the Offer by holders of not less than 90% of the holders of shares and warrants of InterMoly,

- approval by the TSX of the issuance of the shares issuable by Quadra in connection with the Offer,

- the Greenland Home Rule Government having approved the indirect transfer to Quadra of the principal license issued in connection with the project in form and substance satisfactory to Quadra, and

- other conditions typical for a transaction of this nature.

The conditions to the Offer will be further described in the Offer Document, copies of which, together with other related documents, will be filed on SEDAR and available on the Company's website.

SUMMARY OF QUARTERLY RESULTS

The following table summarizes the operating results of the most recent eight quarters:


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SUMMARY OF QUARTERLY RESULTS
--------------------------------------------------------------------------
2007 2006 (As restated) 2005 (As restated)
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$ US 000s Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2

Statement of
Operations

Revenues 136,455 99,173 67,923 142,225 83,936 65,331 63,432 55,998
Operating
income
(loss) 64,972 30,713 24,005 72,431 33,181 29,757 11,021 9,376
Earnings
(loss)
before
other
items 40,162 2,930 (22,138) 4,863 20,108 12,642 (1,429) 7,472
Unrealized
(gain)
loss on
deriva-
tives (19,714) (53,543) (34,626) 36,559 59,063 20,788 4,527 7,746
Earnings
(loss)
before
income
taxes 59,876 56,375 26,960 (31,696)(45,076) (8,982)(16,489) (274)
Earnings
(loss) 43,111 50,960 20,634 (21,998)(35,163) (5,609)(13,384) 1,782
Basic
earnings
(loss)
per
share $ 1.13 $ 1.34 $ 0.55 $ (0.59) $(1.15) $(0.20) $(0.49) $ 0.07
Diluted
earnings
(loss)
per
share $ 1.12 $ 1.32 $ 0.54 $ (0.59) $(1.15) $(0.20) $(0.49) $ 0.07

Financial
Position

Cash 224,252 47,774 37,864 50,211 24,421 9,128 9,413 18,427
Total
Assets 531,266 335,966 328,426 347,894 308,182 250,642 178,716 166,756
Total
Liabil-
ities 318,461 170,850 214,592 259,062 203,468 157,890 80,768 55,783
Share-
holders'
equity 212,805 165,116 113,834 88,832 104,714 92,752 97,948 110,973
--------------------------------------------------------------------------


Due to the complex nature of the ore body, volatility in metal prices, and industry cost pressures the results have varied from quarter to quarter, and are expected to vary from quarter to quarter in the future.

LIQUIDITY


Sources and Uses of Cash
----------------------------------------------------------------------
Quarter ended March 31 2007 2006
----------------------------------------------------------------------
Cash received from operations 14,905 (5,325)
----------------------------------------------------------------------
Cash used in investing (11,504) (11,228)
----------------------------------------------------------------------
Cash provided by financing 173,077 31,486
----------------------------------------------------------------------


Cash from operations was higher in the first quarter of 2007 compared to the first quarter of 2006 primarily due to higher earnings (see "Financial Results"), partially offset by adjustments for non cash unrealized changes in the marked to market value of derivatives.

Investing activity of $11,504 for the quarter ended March 31, 2007 reflects an increase in plant and equipment at Carlota associated with the purchase of 3 haul trucks, additional plant and equipment at Robinson and additions to mineral properties. These investments were partially offset by the return of a portion of the security deposits held in connection with leased equipment. This compares to investing activity of $11,228 for the quarter ended March 31, 2006 relating to the increase in mineral properties, arising primarily from the payment of deferred consideration and security deposits.

Financing activities in the first quarter of 2007 consisted of the $200,000 term loan financing (see "Term Loan Facility"), repayment of the short-term debt facility and repayment of notes associated with leased equipment. In 2006, financing activity consisted primarily of an equity offering which raised $45,544 and repayment of the $15,000 bridge facility.

At March 31, 2007 the Company had working capital of $208,480 and cash of $224,252 as compared to a working capital deficiency of $18,698 and cash of $47,774 at December 31, 2006. The increase in the working capital position is due to the $200,000 term loan financing and an increase in accounts receivable due to the impact of rising copper prices on the marked to market value.

Current assets

The total current assets were $305,299 at March 31, 2007 compared to $115,091 at December 31, 2006, mainly due to the increase in the cash position.

Current liabilities

Current liabilities were $96,819 at March 31, 2007 compared to $133,789 at December 31, 2006. The decrease in current liabilities is mainly due to repayment of $16,900 under the short-term debt facility combined with a decrease of $12,093 in accounts payable and accrued liabilities due to the impact of rising copper prices on the marked to market value of customer balances.

2006 Equity Financing

In February 2006 the Company completed an equity offering of 7.2 million common shares at a price of CAD$6.30 per common share. In connection with the equity offering the Company granted the underwriters an option to purchase an additional 1,080,000 common shares at the same price. This option was subsequently exercised and the aggregate net proceeds from the offering were $42,240.

Outlook

At March 31, 2007 the Company had a working capital position of $208,480. Management expects that at current copper prices funds generated from mining operations will be sufficient to meet its operating requirements for 2007.

CAPITAL RESOURCES

At March 31, 2007 the Company had cash on hand of $224,252. The Company has aggressive expansion plans, including but not limited to, construction of the Carlota project with a projected capital cost of $189,000, associated working capital requirements related to Carlota mine start up of $29,000, and exploration and development activities related to Sierra Gorda and InterMoly. Management expects that the proceeds from the term loan financing, as well as the 2007 equity financing (see "Subsequent Events"), together with funds generated from mining operations at current copper prices will be sufficient to meet its capital requirements.

Commitments


---------------------------------------------------------------------------
Payment Due By Period
---------------------------------------------------------------------------
Less than 1-2 2-3 3-4 4-5 After
($ thousands) 1 year years years years years 5 years Total
---------------------------------------------------------------------------
Senior secured
credit facility - - - - 150,000 50,000 200,000
Deferred gold
consideration 16,131 - - - - - 16,131
Equipment purchase 34,000 - - - - - 34,000
Derivative instrument
liability 38,841 - - - - - 38,841
Minimum lease
payments (capital
and operating) 8,948 11,503 11,428 14,426 6,006 320 52,631
---------------------------------------------------------------------------


Term Loan Facility

On March 6, 2007, the Company completed a $200,000 syndicated private loan financing. The financing consists of a $150,000 First Lien Senior Secured Credit Facility (the "First Facility") and a $50,000 Second Lien Junior Secured Credit Facility (the "Second Facility") (together, the "Facilities"). The First Facility has a 5 year term and bears interest at LIBOR + 650 basis points. The Second Facility has a 7 year term and bears interest at LIBOR + 1,000 basis points. The Second Facility lenders received 2,027,776 warrants to purchase common shares of the Company at an exercise price of CAD$9.24 per share that expire March 1, 2012. These warrants were assigned a fair value of $4,166.

The Facilities are fully secured over the assets and shares of, and guaranteed by, all Quadra companies, other than those directly associated with the Sierra Gorda project in Chile and, if completed, International Molybdenum Plc. The security is effective immediately after all obligations under the Corporate Facility and hedging facilities are extinguished. The Facilities mature on March 5, 2012 and 2014 respectively, but Quadra will be obligated to make a semi-annual offer to purchase the Facilities in an amount equal to 50% of excess cash flow as computed under the terms of the Facilities.

The Company has the right under the Facilities to prepay the First Facility at a price of 103% of the face value anytime and the Second Facility at a price of 104% of the face value commencing March 5, 2008. Notwithstanding, at anytime Quadra has the right to prepay the Second Facility with proceeds of an equity financing at a price of 110% of the face value. A working capital and hedging facility are permitted on a parri passu basis with the First Facility, in the amount of $80,000, with the working capital component not to exceed $40,000. Payments outside of Quadra and the Quadra subsidiaries that form the security package are limited to a restricted payment build-up. Such payments can cover dividends, investment in Sierra Gorda, and other limited purposes. The Facilities require that Quadra enter into interest rate protection arrangements for at least 50% of the Facilities for at least three years (see "Subsequent Event").

The fair value of the Facilities and the related direct costs are as follows:


First Facility:

Senior Secured Credit Facilities 150,000
Direct costs (5,803)
Amortization of direct costs 97
-----------
Balance at March 31, 2007 144,294
-----------
-----------

Second Facility:

Junior Secured Credit Facility 50,000
Direct costs (1,945)
Warrant issued (4,166)
Amortization of direct costs and warrant issued 72
-----------
Balance at March 31, 2007 43,961
-----------
-----------


Subsequent to March 31, 2007, as a result of improving market conditions, the Company completed an equity financing of CAD$131,040. Management announced its intention to exercise its right to prepay the Second Facility from proceeds of the equity financing. As a result, the Company will charge the difference between the retirement and carrying value of the Second Facility of $55,000 and $43,961 respectively to the Statement of Operations during the second quarter of 2007.

Short-Term Debt and Derivative Instrument Liability

On March 10, 2005, Quadra arranged a revolving Working Capital Facility and a margin free uncommitted hedge line of credit facility with Macquarie Bank Ltd. ("Macquarie"). The Working Capital Facility and the hedge line of credit are secured by all of the assets of Quadra and a guarantee from Quadra. During the quarter ended March 31, 2007 the Company repaid $16,900 outstanding under the facility. The working capital facility expired on March 31, 2007 and all obligations under the hedge line of credit facility (see "Financial Instruments and Other Instruments") must be extinguished by June 30, 2007.

Deferred Gold Consideration

Deferred gold consideration represents the net present value of the remaining 25,000 oz of gold based on a price of $680 per ounce to be delivered to IamGold Corp. (formerly Cambior) in four quarterly equal amounts beginning on the earlier of the date on which Quadra is satisfied that certain outstanding litigation matters can no longer be reasonably expected to inhibit development of the Carlota Project, and June 30, 2010.

The deferred gold consideration is secured over the assets of the Carlota project.

Notes Payable

During the quarter ended March 31, 2007 the Company repaid the balance of $2,668 due to Caterpillar Financial Services Corporation.

Take or Pay Supply Contracts

On March 21, 2007 the Company signed a three year contract which fixed the price, subject to certain input cost inflation factors, of 120 tires per year required for the Company's mining equipment at Robinson and Carlota. Robinson has entered into a one year agreement, starting February 1, 2007, that fixed the price of 504,000 gallons of diesel per month.

CONTINGENCIES

The Company is aware of the following proceeding:

Certain litigation is in progress whereby the Friends of Pinto Creek et al as plaintiffs have challenged components of a water discharge permit, the NPDES permit, as issued by the Environmental Protection Agency. The plaintiff's position is that the EPA did not consider all issues as required by their own regulations prior to issuing the permit. The complaint has been heard, and is being considered by the Ninth Circuit Court of Appeal. If the court determines that the permit was issued improperly, the EPA would likely need to review the outstanding issues, making such studies as are required to provide resolution, prior to re-issuing the permit. In the event that the permit is held to be improperly issued, and no solutions to the issues can be found that are satisfactory to the EPA, the design of the mine site with respect to run-off would have to be changed so that the permit would not be required. Management is of the view that such a redesign solution is available and that the cost of this additional work is approximately $5,000. There can also be no assurance that, in the event of a favourable ruling, such ruling will not be appealed further to a higher court. There can be no assurance that additional permits required for the development and operation of Carlota will not be challenged in the future.

TRANSACTIONS WITH RELATED PARTIES

One of the Directors of the Company is a partner of an affiliate of Blake, Cassels & Graydon LLP and one is a partner of Chancellor Partners Management Consultants Inc. During the quarter ended March 31, 2007 the Company incurred legal fees of $189 and recruiting and human resources consulting fees of $123 (March 31, 2006: $161 and $92 respectively).

PROPOSED TRANSACTIONS

There are no proposed asset or business acquisitions or dispositions, other than in the ordinary course, before the Board of Directors for consideration.

CRITICAL ACCOUNTING ESTIMATES

In preparing financial statements management has to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Based on historical experience, current conditions and expert advice, management makes assumptions that are believed to be reasonable under the circumstances. These estimates and assumptions form the basis for judgments about the carrying value of assets and liabilities and reported amounts for revenues and expenses. Different assumptions would result in different estimates and actual results may differ materially from results based on these estimates. These estimates and assumptions are also affected by management's application of accounting policies. Critical accounting estimates are those that affect the consolidated financial statements materially and involve a significant level of judgment by management.

Mineral Properties and Deferred Start-up Costs

The Company capitalizes the development costs of mining projects commencing when economically recoverable reserves as shown by an economic study are believed to exist. Upon commencement of commercial production these costs are written off over the life of the mine based on proven and probable reserves. The determination of the extent of reserves is a complex task in which a number of estimates and assumptions are made. These involve the use of geological sampling and models as well as estimates of future costs. New knowledge derived from further exploration and development of the ore body may also affect reserve estimates. In addition the determination of economic reserves depends on assumptions on long-term commodity prices and in some cases exchange rates.

Revenue Recognition and Inventory Valuation

Revenue is recognized when title passes and payment is reasonably assured. Final metal prices for determining revenue can be a number of months after the point of recognition and price changes subsequent to the date of sale could have a material impact on final settlement.

Economic Life

Management's estimate of the remaining economic life of the Robinson Mine is approximately 9 years based on the updated resource statement provided in accordance with NI 43-101 while the economic life of the Carlota project is approximately 11 years. Based on management's view of future metal prices, the carrying value of these assets was not impaired at March 31, 2007.

Asset Retirement Obligations, Reclamation and Mine Closure

Due to uncertainties concerning environmental remediation, the ultimate cost to the Company of future site restoration could differ from the amounts provided. The estimate of the total liability for future site restoration costs is subject to change based on amendments to laws and regulations and as new information concerning the Company's operations becomes available. The Company is not able to determine the impact on its financial position, if any, of environmental laws and regulations that may be enacted in the future.

Future Income Taxes and Resource Tax Asset and Liabilities

The Company has recognized a current future income tax asset of $12,072 and a non-current future tax asset of $3,609 that relates to the temporary difference created between the tax and accounting basis of assets and liabilities of operations based in the United States. Management estimates that, using long term copper prices in line with its mine plan estimates, the future taxable income will be sufficient to utilize the tax asset which has been recognized.

CHANGE IN ACCOUNTING POLICIES

Deferred stripping

The Emerging Issues Committee of the CICA issued Abstract 160 "Stripping Costs Incurred in the Production Phase of a Mining Operation" (EIC 160), which indicates that generally, stripping costs should be accounted for as variable production costs unless the costs result in a betterment of the mineral property by providing access to additional sources of ore, in which case they can be capitalized and amortized over the additional reserves directly impacted by the stripping activities. The new standard applies to fiscal years beginning on or after July 1, 2006. Effective January 1, 2007, the Company changed its method of accounting for stripping costs to the method described in EIC 160. Previously, the Company deferred stripping costs incurred in excess of the life-of-pit average strip ratio. This change in accounting policy has been applied retroactively and the comparative financial statements have been restated as noted below:


Effect on consolidated balance sheet as at December 31, 2006:

Increase in concentrate inventory 2,618
Increase in future income tax assets 15,205
Decrease in other asset and deferred charges (47,014)
----------
Decrease in retained earnings 29,191
----------
----------

Effect on consolidated statements of operations:

Three months Year Year
ended ended ended
March 31, December 31, December 31,
2006 2006 2005
--------------------------------------

Increase in cost of sales 6,121 27,004 17,392
Increase in future income tax
recovery 2,088 9,213 5,992
--------------------------------------
Increase in loss/decrease in
earnings 4,033 17,791 11,400
--------------------------------------
--------------------------------------


Effect on consolidated statement of cash flows:

Three months Year Year
ended ended ended
March 31, December 31, December 31,
2006 2006 2005
--------------------------------------
Decrease in cash received
from/increase in cash used
in operating activities (6,120) (25,591) (20,294)
Decrease in cash used in
investing activities 6,120 25,591 20,294


Financial Instruments

Effective January 1, 2007, the Company adopted CICA Handbook Section 3855 Financial Instruments - Recognition and Measurement, Section 3865 Hedges and Section 1530 Comprehensive Income (the "Financial Instrument Standards"). The adoption of these new standards had no impact on the Company's financial statements on or before December 31, 2006 as the standards require adjustments to the carrying value of financial assets and liabilities to be recorded within retained earnings or, in the case of available-for-sale assets, accumulated other comprehensive income on transition.

All financial assets, except those classified as held to maturity, and derivative financial instruments, are measured at fair value.

Gains and losses associated with financial assets designated as held for trading are recorded in the income statement, separate from any interest or dividends earned on these investments. Gains and losses on derivative financial instruments are also recorded in the statement of operations in the period in which they arise. Gains and losses associated with financial assets classified as available for sale will be separately recorded as unrealized within other comprehensive income until such time the investment is disposed of or incurs a decline in fair value that is on an other-than-temporary basis, at which time any gains or losses will then be realized and reclassified to the income statement.

Financial liabilities are measured initially at fair value including any directly attributable transaction costs. After initial recognition, all financial liabilities are measured at amortized cost using the effective interest rate method, except for financial liabilities that are classified as held for trading.

The Company currently does not apply hedge accounting to its derivative instruments and accordingly is not impacted by CICA 3865 Hedges.

Upon adoption of the Financial Instrument Standards, all regular-way purchases of financial assets are accounted for at the settlement date. Transaction costs on financial assets and liabilities classified other than as held for trading are treated as part of the investment cost.

FINANCIAL INSTRUMENTS AND OTHER INSTRUMENTS

The Company's revenues and cash flows are subject to fluctuations in the price of copper and gold. In addition there is a time lag between initial payment on shipment and final pricing which impacts its working capital position. To reduce the volatility in the expected final pricing of shipments the Company has entered into forward sales contracts for copper and gold and may enter into additional hedging contracts from time to time in the future.

At March 31, 2007 the Company's derivative positions and the associated unrealized losses were as follows:


Derivative Liability Positions as at March 31, 2007
--------------------------------------------------------------------------
Marked to
Market
Forward Metal under Average Loss
Contracts contract (Note 2) Forward Price Spot Price (Note 1)
--------------------------------------------------------------------------
Copper 21,300 tonnes $2.26/pound $3.11 $35,958
(three month)/pound

--------------------------------------------------------------------------
Gold 18,000 ounces $431/ounce $662/ounce $ 4,150

--------------------------------------------------------------------------
Total $40,108
--------------------------------------------------------------------------


The copper hedges are expected to settle by the end of the second quarter of 2007 and are associated with 2006 production that has been shipped but whose final pricing has not yet occurred. No 2007 production is hedged. At the close of business on April 19, 2007 the marked to market value of the un-priced portion copper derivative liability had increased by $10,637 due to increasing copper prices and the marked to market value of unpriced receivables from customers had increased by $20,723.

The Company monitors the volume of copper and gold subject to final pricing. If the volume subject to final pricing in a given month varies from that previously estimated, the Company will amend the derivative contracts to match the month of final pricing.

Macquarie Bank Limited has provided the Company with a hedge line of credit, free from margin calls, on terms and conditions related to annual production which is agreed upon from time by time. The hedge line of credit is secured as part of the security arrangements in the amended credit agreement dated March 10, 2005. All amounts outstanding under the hedge line of credit must be extinguished by June 30, 2007.

The Company marks to market the outstanding derivative position at each reporting date in its financial statements. This may result in significant derivative assets or liabilities arising in the Company's balance sheet during the second quarter of 2007, as well as the associated significant earnings volatility.


Derivative Liability Positions as at December 31, 2006
--------------------------------------------------------------------------
Marked to
Market
Forward Metal under Average Loss
Contracts contract Forward Price Spot Price (Note 1)
--------------------------------------------------------------------------
Copper 30,400 tonnes $2.26/pound $2.87 $41,485
(three month)/pound

--------------------------------------------------------------------------
Gold 24,000 ounces $429/ounce $636 /ounce $4,983

--------------------------------------------------------------------------
Total $46,468
--------------------------------------------------------------------------
Note:
1) The marked to market gain or loss is computed by computing the
difference between the forward contract price and the fair value based
on the forward curve for the metal at March 31, 2007.
2) A portion of the derivative liability at March 31, 2007 was not subject
to future price fluctuations. This portion consisted of 11,000 tonnes
of copper and 2,000 ounces of gold.


The volume of copper contracts outstanding at March 31, 2007 decreased compared to December 31, 2006 due to the settlement of hedges associated with the quotational periods of shipments. The volume of gold sold forward decreased due to the settlement of contracts during the first quarter of 2007. The marked to market loss for copper and gold hedges decreased at March 31, 2007 compared to December 31, 2006 due to the reduction in the volume of copper of copper and gold, partially offset by increases in the price of copper and gold.


Income Statement Presentation - Quarter ended March 31
---------------------------------------------------------------------------
2007 2006 2007 2006
Realized Realized Unrealized Unrealized
Forward Contracts Loss Loss Loss (Gain) Loss
---------------------------------------------------------------------------

Copper $ 20,905 $ 8,896 $(17,573) $ 56,964
---------------------------------------------------------------------------

Gold $ 1,321 $ 1,089 $ (873) $ 2,099
---------------------------------------------------------------------------

Total $ 22,226 $ 9,985 $(18,446) $ 59,063
---------------------------------------------------------------------------


SUBSEQUENT EVENTS

Subsequent to March 31, 2007 the Company purchased a three year interest rate cap with a strike rate at 5.35%, on a notional amount of $100,000.

Subsequent to March 31, 2007 Quadra entered into a bought-deal agreement with underwriters under which the underwriters will purchase 10.4 million units of Quadra at a price of $12.60 per unit for gross proceeds of CAD$131,040. Each unit consists of one common share of Quadra and one-half of one common share purchase warrant of Quadra, with each whole warrant entitling the holder thereof to acquire a further common share at an exercise price of CAD$20.00 for a period of three years from the closing date. Quadra has granted the underwriters an overallotment option, to purchase up to an additional 1.56 million units (CAD$19,656,000), exercisable at the offering price up until 30 days prior to the closing date. The company expects to file a preliminary short form prospectus with the applicable securities regulatory authorities to qualify the units for distribution on April 25, 2007. The net proceeds are intended to be used for repayment of the company's outstanding secondary tranche of debt, exploration and development at Sierra Gorda, exploration and development at the Malmbjerg molybdenum project, and for general working capital and corporate purposes. The transaction is subject to the receipt of all necessary regulatory and stock exchange approvals. The offering is expected to close on or about May 9, 2007.

SHARE CAPITAL

The Company's issued and outstanding shares at March 31, 2007 totalled 38,135,690, which was unchanged as of April 20, 2007 (see "Subsequent Events").

For the quarter ended March 31, 2007, the Company granted 110,000 stock options to directors, employees and contractors. All stock options have a two-year vesting period and expire after five years. For accounting purposes the Company estimated a value of $2.08 per stock option for total value of $229.

Option pricing models require the input of highly subjective assumptions including the expected price volatility. Changes in these assumptions can materially affect the estimated fair value of options granted.

CONTROL OVER FINANCIAL REPORTING

Internal Control over Financial Reporting means a process designed under the supervision of the Company's Chief Executive Officer and Chief Financial Officer to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements. The design includes policies and procedures that;

1. pertain to the maintenance of records,

2. provide reasonable assurance that transactions are recorded appropriately and that receipts and expenditures are being made only in accordance with authorizations of management and directors, and

3. provide reasonable assurance regarding prevention or timely detection of material unauthorized acquisition, use or disposition, of the Company's assets.

During the process of management's review and evaluation of the design of the Company's internal control over financial reporting, it was determined that the design and evaluation of internal controls over information technology at the Robinson mine was not completed. The design, evaluation, implementation and testing of these controls is expected to be completed in 2007. Management is committed to improving the controls for information technology and will institute a remediation plan. Nothing has come to the attention of management that has indicated any potential weakness in the mine's internal controls over information technology has resulted in a material misstatement in the financial statements of the Company.

April 23rd, 2007

This press release, including the MD&A contains "forward-looking information" that is based on Quadra's expectations, estimates and projections as of the dates as of which those statements were made. This forward-looking information includes, among other things, statements with respect to Quadra's business strategy, plans, outlook, long-term growth in cash flow, earnings per share and shareholder value, projections, targets and expectations as to reserves, resources, results of exploration (including targets) and related expenses, property acquisitions, mine development, mine operations, mine production costs, drilling activity, sampling and other data, estimating grade levels, future recovery levels, future production levels, capital costs, costs savings, cash and total costs of production of copper, gold and other minerals, expenditures for environmental matters and technology, projected life of our mines, reclamation and other post closure obligations and estimated future expenditures for those matters, completion dates for the various development stages of mines, availability of water for milling and mining, future copper, gold, molybdenum and other mineral prices (including the long-term estimated prices used in calculating Quadra's mineral reserves), the percentage of production derived from mechanized mining, the percentage of production from milling, currency exchange rates, debt reductions, timing of expected sales and the percentage of anticipated production covered by forward sale and other option contracts or agreements, anticipated outcome of litigation and personnel issues. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should", "scheduled", "will", "plan" and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Quadra's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to:

- Uncertainties related to the accuracy of reserve and resource estimates and estimates of future production and future cash and total costs of production and the geotechnical or hydrogeological nature of ore deposits, diminishing quantities or grades of reserves and variable metallurgical performance of these reserves.

- Uncertainties related to expected production rates, timing of production and the cash and total costs of production and milling.

- Uncertainties relating to copper, gold, molybdenum and other mineral prices, which are beyond the Company's control.

- The Company sells concentrate material which is subject to provisional payments; uncertainty in the final metal prices used for the computation of final settlement exists such that final settlement could be less than the cost of production plus other liquidity requirements.

- Operating and technical difficulties in connection with mining development or production activities.

- Uncertainties with respect to the quantity or quality of molybdenum that may be produced at the Robinson Mine.

- Uncertainties and costs related to Quadra's exploration and development activities, such as those associated with determining whether copper, gold, molybdenum or other mineral reserves exist on a property.

- Uncertainties related to feasibility studies and other studies that provide estimates of expected or anticipated costs, expenditures and economic returns from a mining project.

- Uncertainties relating to the availability of adequate water resources for mining and milling operations.

- Uncertainties related to the ability to obtain and retain necessary licenses, permits, electricity, surface rights and title for development projects and project delays due to third party opposition.

- Uncertainties in obtaining additional financing that may result in delay, postponement or even a loss of the property interest.

- Uncertainties related to the future development or implementation of new technologies, research and development and, in each case, related initiatives and the effect of those on our operating performance.

- Uncertainties related to judicial or regulatory proceedings.

- Changes in, and the effects of, the laws, regulations and government policies affecting our mining operations, particularly laws, regulations and policies relating to:

- mine expansions, environmental protection and associated compliance costs arising from exploration, mine development, mine operations, reclamation and mine closures;

- expected effective future tax rates in jurisdictions in which our operations are located;

- the protection of the health and safety of mine workers; and

- mineral rights ownership in countries where our mineral deposits are located.

- Changes in general economic conditions, the financial markets and in the demand and market price for copper, gold, molybdenum and other minerals and commodities, such as diesel fuel, petroleum, steel, concrete, electricity and other forms of energy, mining equipment, operating supplies, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar, concentrate and transportation charges.

- The effects of forward selling instruments to protect against fluctuations in copper, gold, molybdenum and other metal prices and exchange rate movements and the risks of counterparty defaults, and mark to market risk.

- Unusual or unexpected formations, seismic activity, cave-ins, flooding, pressures, pit wall failures and other similar incidents (and the risk of inadequate insurance or inability to obtain insurance to cover these risks).

- Changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates.

- Environmental issues and liabilities associated with mining including processing and stock piling ore.

- Geopolitical uncertainty and political and economic instability in countries which we operate.

- Labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate mines, or extreme weather conditions, environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt the production of minerals in our mines.

- Quadra's reliance on a single producing property.

- Uncertainties relating to acquisitions, including whether the recently acquired Carlota Project can be brought into production.

- Breaching covenants and undertakings contained in debt facility agreements could result in a significant loss to Quadra.

A discussion of these and other factors that may affect Quadra's actual results, performance, achievements or financial position is contained in the filings by Quadra with the Canadian provincial securities regulatory authorities, including Quadra's AIF. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Quadra disclaims any intent or obligations to update or revise publicly any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise.

ABOUT QUADRA MINING LTD. (TSX:QUA - News)

Quadra is a British Columbia corporation based in Vancouver and is a mining company whose principal asset is the Robinson Mine in Nevada. The Company has a goal of becoming a mid-tier base metals development and operating company with interests in a number of advanced exploration, development and producing properties.

This press release may contain some forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ from those expressed or implied by such statements. Statements relating to revenues, growth, profits and operating expenses depend on future market conditions and risks, and are considered forward-looking thereby providing no guarantee that they will be realized.


Contact:

[danatbank]

Das Unternehmen hat gerade völlig sinnfrei die Aktienzahl FD um fast 50% erhöht. Habe dazu auf stockhouse auch geschrieben, daß ich von einem sweetheart deal ausgehe; die Aktie verdient somit einen Abschlag wegen schlechten Managements.

Das Minenleben wird sich meiner Einschätzung nach bei Robinson auf 20 Jahre, bei Carlota auf eine anliegende Lagerstätte (permits ausstehend) auf 15 Jahre verlängern lassen. Bei Sierra Gorda ist übrigens nicht das potential upside 5M lbs, sondern die derzeitigen Ressourcen. Potential upside beläuft sich eher auf 5-10 Mio.t Kupfer, die Lagerstätte liegt in elephant country in der chilenischen Region 2, BHP (Spence), Antofagasta (Tesoro/Esperanza) sowie Codelco sind gleich nebenan, weshalb QUA als logisches Übernahmeziel gehandelt wird.
Sehr gute Bohrergebnisse, die mitten in der Mineralisierung aufhören, dokumentiert:
http://www.quadramining.com/s/News.asp?ReportID=166642&_Type…
M.E. eine der 3 besten unentwickelten Lagerstätten in Chile.

Bezüglich des Verhältnisses Produktion/MK ist QUA sicherlich noch immer mit das günstigste Kupfernunternehmen an der TSX. Als wesentlich billiger fällt mir nur CRC an der AIM ein.

[stupidgame]

Antwort auf Beitrag Nr.: 29.039.228 von danatbank am 28.04.07 12:03:15

Ich bin vor kurzem schon mal auf das Papier aufmerksam gemacht worden. Viel Text hier. Muss mal sehen, ob ich das wichtige rausgepickt kriege.
Mit der Aktienanzahl, das ist natürlich ziemlich heftig. Da muss man komplett neu rechnen und als Konsequenz die Kursziele um 33% runternehmen.

s.

[RudiXXX]

Nach dem der erste Treath gelöscht wurde stellich die Info von damals noch mal ein.
Stand von Anfang April- und es hat sich nichts geändert.

QUADRA MINING - Kupferproduzent mit Moly-Ambitionen - DIE Chance 2007 mit Substanz







Quadra Snapshot
Stock Symbol QUA.TSX
Shares Outstanding 38,129,024
Shares Fully Diluted 42,624,166
Major Shareholders Institutional 83%
Retail 12%
Insiders 5%
52 Week hi/low CDN $13.35 / $5.20
Operating Asset Robinson Mine
10 Year LOM Production 174 million lbs Cu/yr
63,000 ounces Au/yr
Development Projects Carlota Project, Arizona
Sierra Gorda Project, Chile



Corporate Highlights:

2004:
- QUA geht an die Börse- eine der größen Minen IPO's 2004: CDN$145 million
- Robinson Copper Mine in Nevada wird von BHP Billiton's for $14.2 million erworben
- Restart der Robinson Mine nach nur 2 Monaten
- das Entwickelte Sierra Gorda Projekt in Chile wurde optioniert
- 10,000 Meter Drill program abgeschlossen
- 2 neue signifikante Kupferoxydzonen entddeckt

2005:
- Produciert 126 million lb Kupfer and 81,000 ounces Gold in der Robinson Mine
- Schließt NI 43-101 taugliche Resourcenschäätzung im Sierra Gorda Projet ab
- Molybdän- Floutationsanlage in Robinson fertiggestellt
- Das Carlota Copper Project in Arizona wurde erworben

2006:
- Produciert 121 million lb Kupfer and 75074 ounces Gold in der Robinson Mine
- ein großes Kupfer-Porhyr-System wurde im Sierra Gorda Projekt entdeckt

2007:
- Schließt 200 Mio $ Finanzierung für dei Entwicklung des Carlota Projekts ab
NEW
- unterbreitet ein Takeover-Angebot an Intermoly welche mit dem Malmjberg Molybdenum Projekt in Grönland,
mit NI 43-101 gemäßen Resourcen von 212 million Tonnen bei 0.12% Mo eines der aussichtreichsten, großen höhergradigen und bereits hoch entwickeltebn reinen Moly-Projekte besitzt.
Der Angebotspreis beträgt nur 35 Mio USD.


Mit der Produktion von über 120 Mio lb Kupfer jährlich generiert Quadra genügend Cashflow für eine schnelle Entwicklung der
anderen Projekte.



Quadra provides a strong investment vehicle to movements within the base metals sector

* Established ability to profitably operate large scale mining assets
* Demonstrated ability to successfully develop and finance major projects
* Experience in negotiating value creating acquisitions and joint ventures
* Exposure to the long term copper fundamentals driven by growth in the developing economies
* Stable cash flow with upside potential at the Robinson Mine, Nevada
o $US denominated cost exposure
* Value creation and growth with the company's pipeline of development projects in South and North America:
o Sierra Gorda - Chile
o Carlota Project - Arizona
* A strategic growth plan to consolidate the single asset based metal players and achieve critical mass
* Experience operating in the United States, Latin America and Australia - formerly responsible for Gibralter Mines and Lomas Bayas in Chile
* Production and development assets in politically sound regions


The Robinson Mine

Die Robinson Mine ist Quadra's Hauptprojekt. Sie ist eine Open-Pit Kupfer- und Gold-Mine, befindet sich im Osten Nevadas 11km westlich der Stadt Ely. 1994 begann Magma Copper, die später von BHP Copper Inc. übernommen wurden, eine moderne Mine und einen Sulphid Konzentrator für ca. 480 Mio US$ zu errichten. Quadra erwarb die Robinson Mine am 8th April 2004 für ca. US$14,875,000 in bar.

The Robinson Mine hat zur Zeit Mineralien Reserven von 122 million Tonnen mit 0.69% Cu and 0.26 g/t Gold. Die erwartete jährliche Produktion betröägt ca. 125 million Pfund Kupfer bei einer erwartetet Minenlebensdauer von 9 Jahren. Seit 2005 ist die Mine in betrieb und hat bis 31.12.2006 insgesamt 236 million Pfund Kupfer, 166,055 Unzen Gold und 260,000 Pfund of Molybdän erzeugt. für 2007 wird eine Produktzion von 125 million Pfund Kupfer und 60.000 Unzen Gold erwartet.


Resourcen (1/2007) - Cutoff 0,4%
Proven and Probable_____122,401 Mio t
Kupfer__________________0.69%
beinhaltet______________1859 Mio lb ( 845.000 To)
Gold g/To______________0,26
beinhaltet______________1.034.000 oz
Material unter Cutoff:__405,997 Mio t
Material gesamt_________528,398
Stripratio______________3.32


Das Carlota Projekt

Das Carlota Projekt ist ein genehmigtes weiter entwickeltes Kupfer-Projekt das sich im GLobe-Miami Mining District of Arizona befindet, einer der bedeutensten Kupfer-Bergbau Regionen der Welt. Die Mine befindet sich inmitten historischer Minen in der Nähe der BHP Pinto Valley Mine.

Das Carlota Projekt hat "probable mineral reserves" von ca. 78 Mio Tonnen Erz mit 0.45% Kupfer. Ein NI 43-101 gemäßer technical Report des Carlota Projects empfielöt eine Open-Pit Mine für die Produktion von Kathodenkupfer mit einer Minenlaufzeit von 9-11 Jahren Die Planungen gehen von 15 Monaten Bauzeit aus um eine Mine mit 75. Mio Pfund jährlich zu errichten.
Dafür wurde kürzlich eine 200 Mio$ Finanzierung durchgeführt.


Sierra Gorda Projekt

Das Sierra Gorda Projekt beinhaltet 6 Liegnschaften mit einer Fläche von ca. 23km2 in einer Region in Nordchile die eine Menge von bedeutenden Kupferminen und Lagerstätten besitzt:BHP Billiton's Spence Projekt 10 km Nordöstlich, Antofagasta Holdings PLC's El Tesoro Mine ca. 15 km Südöstlich und die Lomas Bayas and Mantos Blancos Minen südwestlich.

Ein NI 43-101 gemäßer Technical Report des Projektes erwartet indicated and inferred Resourcen von ca 5000 Mio Pfund Kupfer.
kürzliche Bohrungen ergaben signifikante Bereiche mit guten Kupfer, Gold und Molybdän Mineralisierungen.
Die Lage und Länge lassen auf eine völlig neue Porphyr-Kupfer-Formation schließen.


Financial Year End: December 31st
Financial Summary Q4, 2006:
Q4 Cash on Hand $47,774,000
Q4 Net Income $54,737,000
Capital Assets $69,192,000
Robinson Start Up Expenditures and Deferred Charges $61,836,000
Sierra Gorda expenditures $11,443,000
Carlota Project Mineral Properties $47,933,000
Mining Equipment Bond $22,320,000
Environmental Bond $28,015,000
Funds in trust for reclamation $15,376,000
Concentrate Inventory $24,462,000


Chance 2007

Warum ist die Chance für Quadra gerade jetzt so außerordentlich gut?

Quadra hatte in 2006 große einbußen, weil sie ihre Kupferpreise mit zu tiefen Preisen gehedget hatten.
bei einem Verkaufspreis von 1,75$/lb blieb nicht viel Ertrag übrig.
Dieser Hedge-Vertrag läuft zum 1. Quartal2007 aus, dann kann Kupfer zu Weltmarktpreisen verkauft werden. Unter der Annahme von weiterhin hohem Kupferpreis von über 3,50 $/lb kann QUA dann mit einem Gewinn EPS ca. 4CAD/share rechnen
Damit liegt das KGV2007e bei ca. 3.

zusätzlich wird falls die Übernahme von Intermoly zustande kommt ein nachhaltiger Kursanstieg durch die Molymania bedingte Phantasie eintreten. Die Chance davon zu profitieren ist jetzt, das Boot ist noch im Hafen, aber bestimmt nicht mehr lange,


Quadra Mining (QUA.T)
A0CAB6

aktuelle Marktdaten
http://www.redinews.com/cgi-bin/ex_detail?symbol=QUA.TO

[RudiXXX]

QUADRA MINING - Kupferproduzent mit Moly-Ambitionen - DIE Chance 2007 mit Substanz
red]








Quadra Snapshot
Stock Symbol QUA.TSX
Shares Outstanding 38,129,024
Shares Fully Diluted 42,624,166
Major Shareholders Institutional 83%
Retail 12%
Insiders 5%
52 Week hi/low CDN $13.35 / $5.20
Operating Asset Robinson Mine
10 Year LOM Production 174 million lbs Cu/yr
63,000 ounces Au/yr
Development Projects Carlota Project, Arizona
Sierra Gorda Project, Chile



Corporate Highlights:

2004:
- QUA geht an die Börse- eine der größen Minen IPO's 2004: CDN$145 million
- Robinson Copper Mine in Nevada wird von BHP Billiton's for $14.2 million erworben
- Restart der Robinson Mine nach nur 2 Monaten
- das Entwickelte Sierra Gorda Projekt in Chile wurde optioniert
- 10,000 Meter Drill program abgeschlossen
- 2 neue signifikante Kupferoxydzonen entddeckt

2005:
- Produciert 126 million lb Kupfer and 81,000 ounces Gold in der Robinson Mine
- Schließt NI 43-101 taugliche Resourcenschäätzung im Sierra Gorda Projet ab
- Molybdän- Floutationsanlage in Robinson fertiggestellt
- Das Carlota Copper Project in Arizona wurde erworben

2006:
- Produciert 121 million lb Kupfer and 75074 ounces Gold in der Robinson Mine
- ein großes Kupfer-Porhyr-System wurde im Sierra Gorda Projekt entdeckt

2007:
- Schließt 200 Mio $ Finanzierung für dei Entwicklung des Carlota Projekts ab
NEW
- unterbreitet ein Takeover-Angebot an Intermoly welche mit dem Malmjberg Molybdenum Projekt in Grönland,
mit NI 43-101 gemäßen Resourcen von 212 million Tonnen bei 0.12% Mo eines der aussichtreichsten, großen höhergradigen und bereits hoch entwickeltebn reinen Moly-Projekte besitzt.
Der Angebotspreis beträgt nur 35 Mio USD.


Mit der Produktion von über 120 Mio lb Kupfer jährlich generiert Quadra genügend Cashflow für eine schnelle Entwicklung der
anderen Projekte.



Quadra provides a strong investment vehicle to movements within the base metals sector

* Established ability to profitably operate large scale mining assets
* Demonstrated ability to successfully develop and finance major projects
* Experience in negotiating value creating acquisitions and joint ventures
* Exposure to the long term copper fundamentals driven by growth in the developing economies
* Stable cash flow with upside potential at the Robinson Mine, Nevada
o $US denominated cost exposure
* Value creation and growth with the company's pipeline of development projects in South and North America:
o Sierra Gorda - Chile
o Carlota Project - Arizona
* A strategic growth plan to consolidate the single asset based metal players and achieve critical mass
* Experience operating in the United States, Latin America and Australia - formerly responsible for Gibralter Mines and Lomas Bayas in Chile
* Production and development assets in politically sound regions


The Robinson Mine

Die Robinson Mine ist Quadra's Hauptprojekt. Sie ist eine Open-Pit Kupfer- und Gold-Mine, befindet sich im Osten Nevadas 11km westlich der Stadt Ely. 1994 begann Magma Copper, die später von BHP Copper Inc. übernommen wurden, eine moderne Mine und einen Sulphid Konzentrator für ca. 480 Mio US$ zu errichten. Quadra erwarb die Robinson Mine am 8th April 2004 für ca. US$14,875,000 in bar.

The Robinson Mine hat zur Zeit Mineralien Reserven von 122 million Tonnen mit 0.69% Cu and 0.26 g/t Gold. Die erwartete jährliche Produktion betröägt ca. 125 million Pfund Kupfer bei einer erwartetet Minenlebensdauer von 9 Jahren. Seit 2005 ist die Mine in betrieb und hat bis 31.12.2006 insgesamt 236 million Pfund Kupfer, 166,055 Unzen Gold und 260,000 Pfund of Molybdän erzeugt. für 2007 wird eine Produktzion von 125 million Pfund Kupfer und 60.000 Unzen Gold erwartet.


Resourcen (1/2007) - Cutoff 0,4%
Proven and Probable_____122,401 Mio t
Kupfer__________________0.69%
beinhaltet______________1859 Mio lb ( 845.000 To)
Gold g/To______________0,26
beinhaltet______________1.034.000 oz
Material unter Cutoff:__405,997 Mio t
Material gesamt_________528,398
Stripratio______________3.32


Das Carlota Projekt

Das Carlota Projekt ist ein genehmigtes weiter entwickeltes Kupfer-Projekt das sich im GLobe-Miami Mining District of Arizona befindet, einer der bedeutensten Kupfer-Bergbau Regionen der Welt. Die Mine befindet sich inmitten historischer Minen in der Nähe der BHP Pinto Valley Mine.

Das Carlota Projekt hat "probable mineral reserves" von ca. 78 Mio Tonnen Erz mit 0.45% Kupfer. Ein NI 43-101 gemäßer technical Report des Carlota Projects empfielöt eine Open-Pit Mine für die Produktion von Kathodenkupfer mit einer Minenlaufzeit von 9-11 Jahren Die Planungen gehen von 15 Monaten Bauzeit aus um eine Mine mit 75. Mio Pfund jährlich zu errichten.
Dafür wurde kürzlich eine 200 Mio$ Finanzierung durchgeführt.


Sierra Gorda Projekt

Das Sierra Gorda Projekt beinhaltet 6 Liegnschaften mit einer Fläche von ca. 23km2 in einer Region in Nordchile die eine Menge von bedeutenden Kupferminen und Lagerstätten besitzt:BHP Billiton's Spence Projekt 10 km Nordöstlich, Antofagasta Holdings PLC's El Tesoro Mine ca. 15 km Südöstlich und die Lomas Bayas and Mantos Blancos Minen südwestlich.

Ein NI 43-101 gemäßer Technical Report des Projektes erwartet indicated and inferred Resourcen von ca 5000 Mio Pfund Kupfer.
kürzliche Bohrungen ergaben signifikante Bereiche mit guten Kupfer, Gold und Molybdän Mineralisierungen.
Die Lage und Länge lassen auf eine völlig neue Porphyr-Kupfer-Formation schließen.


Financial Year End: December 31st
Financial Summary Q4, 2006:
Q4 Cash on Hand $47,774,000
Q4 Net Income $54,737,000
Capital Assets $69,192,000
Robinson Start Up Expenditures and Deferred Charges $61,836,000
Sierra Gorda expenditures $11,443,000
Carlota Project Mineral Properties $47,933,000
Mining Equipment Bond $22,320,000
Environmental Bond $28,015,000
Funds in trust for reclamation $15,376,000
Concentrate Inventory $24,462,000


Chance 2007

Warum ist die Chance für Quadra gerade jetzt so außerordentlich gut?

Quadra hatte in 2006 große einbußen, weil sie ihre Kupferpreise mit zu tiefen Preisen gehedget hatten.
bei einem Verkaufspreis von 1,75$/lb blieb nicht viel Ertrag übrig.
Dieser Hedge-Vertrag läuft zum 1. Quartal2007 aus, dann kann Kupfer zu Weltmarktpreisen verkauft werden. Unter der Annahme von weiterhin hohem Kupferpreis von über 3,50 $/lb kann QUA dann mit einem Gewinn EPS ca. 4CAD/share rechnen
Damit liegt das KGV2007e bei ca. 3.

zusätzlich wird falls die Übernahme von Intermoly zustande kommt ein nachhaltiger Kursanstieg durch die Molymania bedingte Phantasie eintreten. Die Chance davon zu profitieren ist jetzt, das Boot ist noch im Hafen, aber bestimmt nicht mehr lange,


Quadra Mining (QUA.T)
A0CAB6

aktuelle Marktdaten
http://www.redinews.com/cgi-bin/ex_detail?symbol=QUA.TO

[RudiXXX]

Antwort auf Beitrag Nr.: 29.039.965 von stupidgame am 28.04.07 13:30:15

Falsch
Quadra hat mit dieser Kapitalerhöhung auf geniale Weise mehrere Ziele erreicht.

Der Preis für die KE mit 12,60 ist überaus Fair. Noch vor wenigen Monaten hätten sie keine 6 CAD für die Aktien bekommen.

Als wichtigsten Erfolg seh ich, dass mit Orion ein Partner geholt wurde, der ähnlich wie Sprott gewaltiges Ansehen in der Investorenwelt geniest. Und allein durch dieses Invest eine hohe Sicherheit schafft, das Quadra von der Liste der Übernahmekandidaten gestrichen werden kann.

Des weiteren hatte QUA 200 Mio Finanzierung am Laufen mit hohen Zinsbelastungen. Diese wurden abgelöst.

Zum dritten erlaubt dieser hohe Barbestand bis zur Fertigsstellung der Carlotta Mine hinreichend Mittel zu besitzen.

Man muß bei Schwächen kaufen, denn ein Kurs won 20CAD am Jahresende läßt sich schwerlich verhindern.

[stupidgame]

Antwort auf Beitrag Nr.: 29.041.232 von RudiXXX am 28.04.07 15:04:02

Ich will hier nicht rummäkeln. Habe nur auf das "völlig sinnfrei" in dem Posting von danatbank reagiert.
Habe mir jetzt erstmal einen Überblick über die shares verschafft.

Wenn auch der Greenshoe aus der Emission ausgegeben wird ergibt sich die Anzahl von 60.674.156 - fully diluted, inklusive aller Warrants und Options. Bei einem Kurs von 13,15 C$ macht das eine Cap. von 798 Mio.C$. Annualisiert man den gemeldeten Quartalsgewinn und errechnet einen Jahresgewinn/Aktie (fully diluted), dann kommt man auf einen Wert von 2,84, bzw. ein aktuelles KGV von 4,63. Nimmt man ein KGV von 6 für den Sektor, dann ergibt sich daraus ein vorläufiges Kursziel von 17,04 C$. Das natürlich ohne Berücksichtigung weiterer Entwicklungen der Projekte. Dafür muss man jetzt natürlich ermitteln, wann was zusätzlich in Produktion gehen könnte. Und mit welchen Jahresraten und Kosten.

s.

[danatbank]

Antwort auf Beitrag Nr.: 29.041.232 von RudiXXX am 28.04.07 15:04:02

RudiXXX

Die KE ist allenfalls für Raymond James, Orion & Co. genial.

Die Aussagen "Preis für die KE mit 12,60 ist überaus Fair" (wobei der Wert der umsonst ausgegebenen warrants unberücksichtigt bleibt) und "ein Kurs won 20CAD am Jahresende läßt sich schwerlich verhindern" sind in sich widersprüchlich, zumal aktuell kein Finanzierungsbedarf besteht.

Daß Orion beteiligt ist, ändert weder etwas am inneren Wert des Unternehmens noch wesentlich an der Gefahr einer Übernahme (CEO hat auf der letzten Pressekonferenz gesagt, man habe nichts dagegen herausgekauft zu werden.). Allenfalls ist QUA jetzt für eine Übernahme unattraktiver geworden.

Es werden Anleihen mit KGV 7-10 mit 10% Agio durch Ausgabe von Aktien mit KGV 2 mit entsprechend verwässernder Wirkung zurückgekauft. Zudem hätten die Kreditlinien später immer noch durch einen Jahresgewinn zurückbezahlt/billiger refinanziert werden können.

Carlota war bereits durch die Kreditlinien finanziert.

stupidgame

Ich rechne bei 3,2$ Kupfer mit 5C$ Gewinn pro Aktie (ohne die KE wären es 6C$) annualisiert, wenn Carlota nächstes Jahr anfängt zu produzieren, was bewertungsmäßig noch immer Spitze im Sektor.

[stupidgame]

Antwort auf Beitrag Nr.: 29.049.058 von danatbank am 28.04.07 19:09:40

ch rechne bei 3,2$ Kupfer mit 5C$ Gewinn pro Aktie (ohne die KE wären es 6C$) annualisiert, wenn Carlota nächstes Jahr anfängt zu produzieren, was bewertungsmäßig noch immer Spitze im Sektor.

Na, das ist doch mal `ne Ansage. Ich schau mir das auch noch mal genauer an. Danke fürs erste.

Gruss
s.

[stupidgame]

Übrigens, schön das wieder ein Thread zu dem Titel aufgemacht wurde. Ich habe zwar wenig Zeit, werde aber sicher hier locker dranbleiben. Ich denke, die Aktie hat Interesse verdient. Weiss auch nicht, warum der andere Thread gelöscht wurde.

Viel Erfolg für alle.
s.

[Statistix]

Wow schön so viele Experten hier zu sehen. Also ich selber stehe der KE ambivalent gegenüber. Das erste Quartal war (ich sage es nur nochmal für die Neuleser) von Hedgeeffekten geprägt. Diese sind nun passé. Ich rechne in den nächsten Quartalen mit ca. 1.3-1.4 earnings. Dazu mag ich einfach das großartige Growth Profile hier.

[Vinyard]

Wie ist eigentlich der Entwicklungsstand von Intermoly?
Explorer im Frühstadium und gibts da schon Handfestes?

[RudiXXX]

Da steht alles zu Mjalmberg drin
http://www.internationalmolybdenum.com/malmbjerg_report_dec_…
aktuelles auf der Homepage

Wichtiger für Quadra als Mjalmberg sind die eigenen Kupfer-Minen
Ich halte Quadra auch für einen 1A Übernahmekandidaten. Es gibt wohl keinen 2. Börsennotierten Produzenten, der zur Zeit so unterbewertet ist.

[stupidgame]

Hallo zusammen!

Interessantes Posting aus dem Stockhouse-Board einer meiner Lieblings-Aktien. Möchte ich Euch nicht vorenthalten, weil hier kurz und knapp die wichtigsten +Punkte zu Quadra nochmal zusammengefasst sind. (Capstone Mining habe ich natürlich auch und halte sie auch. Mein Geld reicht für beide)

Gruss
s.

I'm tempted to get back in despite the silver "giveaway". I see CS as the second best value in the mining industry. The problem is that the #1 value is so far ahead of everybody it's ridiculous and I can't sell any. For $12 U.S. you get $1.40 per share in second quarter earnings, $4 in 2007 earnings, $500M or $10 per share in cash by yearend, a new copper mine in 2008, a bigger new mine in 2009-2010, a major molybdenum acquisition, 100,000 ounces of gold a year, $400-$500M in cash flow by the end of 2008 and only 50M shares outstanding. This is ridiculous. I sold my CS a couple of month ago at $1.80 to buy Quadra Mining(QUA.TO or QADMF) at $7.50. For more information on Quadra see my post on the RNO Yahoo board. JMHO

[stupidgame]

Da haut jemand grosse Stückzahlen zu 13,30C$ rein. Manchmal ist Börse immer bissl rätselhaft. Aber man weiss ja nie, warum wer verkauft.

[stupidgame]

Ich stehe hier Gewehr bei Fuss. Habe noch nichts. Bei um die 10,50 C$ bin ich mit einer ersten Position dabei. Oder, wenn die Aktie ein neues Long-Signal bildet. Annualisiert ist das aktuelle KGV bei 3,97, und zwar fully diluted, mit 60,6 Mio. Aktien gerechnet.
Ich habe den letzten Quartalsbericht nochmal gelesen, um Gründe für die niedrige Bewertung zu suchen.
Die Struktur der Mine ist wohl relativ kompliziert. Sie haben zwar geschrieben, sie verstehen sie jetzt schon besser. Aber es ist auch davon die Rede, dass es zu "erratischen" Schwankungen innerhalb von Zeitperioden kommen kann, was das Förderergebnis anbelangt. Ausserdem, wenn ich das richtig gesehen habe, haben sie im letzten Quartal mehr verkauft als gefördert. Ich muss mal im Filing schauen, wie hoch das Inventar noch ist. Aber alles zusammen, auch mit der jetzt laufenden Korrektur beim Kupferpreis, halte ich das Papier trotzdem für billig. Ich denke, man macht hier nicht allzu viel falsch, wenn man vielleicht bei 7,50€ oder drunter was kaufen würde. Kuperpreis sollte natürlich seinen Up-Trend halten, was bedeutet, nicht unter - aktuell 2,60 $/lb. fallen. Ansonsten wird der Sektor um eine weitere Korrektur wohl nicht herumkommen.

[Asynchronmaschine]

auch wieder typisch
super wert
thread kaum besucht

[stupidgame]

Antwort auf Beitrag Nr.: 29.463.697 von Asynchronmaschine am 25.05.07 11:25:51

Hallo!

Das ist ja bei etlichen Aktien der Fall. Ist zwar bischen schade, tut dem Kurs aber letztlich nichts. Durchschnittlicher Tagesumsatz in Toronto sind ca. 600.000 Stück, oder 6,5 bis 7 Mio.C$. Ein paar mehr oder weniger dt. Kleinanleger machen da kaum was aus.

Gruss
s.

[RudiXXX]

Der Aktienkurs von Quadra und der Kupferpreis haben eine innige Beziehung, wohl mehr als bei anderen Firmen, denn es wird statuiert, das QUA High Cost-Production hat. Taseko liegt bei 1,30USD/lb
Teck teilweise bei 0,85USD/lb aber auch bei über 1,50USD manchmal.

Quadra muß man rücksichtslos dann kaufen wenn alle über schlechte Kupferpreise heulen.

Heute steigt Kupfer in China und der Kurs von QUA steigt +4%

[calkid]

Ist noch jemand da oder bin ich der Einzige der hier Gewinn macht

[stupidgame]

Antwort auf Beitrag Nr.: 30.074.397 von calkid am 20.06.07 15:00:11

Hi-Ho!!

Ja. Aber habe leider nur eine Mini-Position. Will die nicht unbedingt verteuern. Damit fühle ich mich allerdings sehr wohl.
Mir ist lieber - Ruhe im Thread und eine Aktie, die steigt, als umgekehrt. Ich denke, Dir geht`s genauso, oder?

Gruss
s,

[calkid]

Antwort auf Beitrag Nr.: 30.078.142 von stupidgame am 20.06.07 17:52:16

Dito, je ruhiger desto besser, sehr guter Tag heute fuer Quadra

[Statistix]

Der AUR Buyout zieht heute den ganzen Sektor hoch. Und das natürlich auch Quadra.

[calkid]

Antwort auf Beitrag Nr.: 30.474.834 von Statistix am 03.07.07 19:14:04

Krass der Anstieg heute und gestern...

[britpop2007]

Gleich packen wir wieder das ATH, bin mal gespannt wann hier in D noch ein paar aufwachen....

[calkid]

Anscheinend hat immer noch niemand in Deutschland entdeckt was fuer eine Perle diese Aktie ist....

[Statistix]

Momentan ist mit dem Credit Crunch halt massive Unsicherheit in den Rohstoffwerten. Man kann sich natürlich absichern. Short den Markt (mit dem starken Gewicht auf den Financials) und long die Rohstoffwerte. Das machen aber wohl wenige....
Wir brauchen wohl noch 1-2 Quartalsergebnisse bis die Leute das KGV für nachhaltig halten...

[britpop2007]

Hat jemand gestern den Trade mit fast 3 Mio. Shares mitbekommen? Würde mich schon interessieren wer Quadra's für 50 Mio. C$ kauft, bzw. verkauft....

[danatbank]

Soweit ich weiß, hat Galahad seinen Anteil abgestoßen.

[britpop2007]

Antwort auf Beitrag Nr.: 31.736.649 von danatbank am 25.09.07 14:35:55

Und wer hat den Anteil übernommen?

[britpop2007]

Damit wir irgendwann vielleicht auch noch die 5. Seite aufmachen können: NEUES ATH!!!

[Statistix]

Immerhin. Big Bens Geldblase geht nicht nur in die falschen Werte wie Banken etc.

[RudiXXX]

Glückwunsch.
ich bin Leider schon vor langer Zeit raus

[Statistix]

Heute sehr unerfreuliche Nachrichten bzgl. Carlota ...

Bin hier erstmal auf die Seitenlinie...

[Asynchronmaschine]

oh
gleich mal schauen
rss feed auch schon im postfach

[Statistix]

Antwort auf Beitrag Nr.: 29.022.354 von Statistix am 26.04.07 22:00:13

Tjsa die Ansicheten über das Wasserentsorgungsproblem sind geteilt. Ich habe mir das nochmal in Ruhe genau angesehen und denke, daß es sich wohl ausräumen lassen sollte.

[britpop2007]

Antwort auf Beitrag Nr.: 31.984.995 von Statistix am 14.10.07 18:13:33

Das denke ich auch: "while the result was not expected, we have considered such a contingency in our planning and are currently reviewing options."

[britpop2007]

Auch wenn's langsam langweilig wird: NEUES ATH in D!!!!

[Statistix]

Tsja weckt mich wieder auf, wenns ne Woche ohne ATH gibt. Hier und bei Petrobank wird mir das ja langasm fast unheimlich.

[britpop2007]

Antwort auf Beitrag Nr.: 32.196.185 von Statistix am 29.10.07 21:40:22

Juchu, ich bin nicht alleine im (an) Bo(a)rd!!! Aber 20 C$ sind doch ein Bierchen wert, oder?

Werde mich bei 30 € wieder melden....

[fisch29]

Nov 05, 2007 08:45 ET
Quadra Mining Ltd. Announces Strong Third Quarter 2007 Financial Results
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 5, 2007) - (All figures are in $ US thousands unless otherwise stated) - Quadra Mining Ltd. (the "Company" or "Quadra") (TSX:QUA) is pleased to announce net earnings of $48,755 or $0.90 per share for the third quarter ended September 30, 2007 compared to net earnings of $20,634 or $0.55 per share for the third quarter of 2006. Operating cash flow before working capital increased to $61,806 or $1.13 per share from an operating deficit of ($6,341) or ($0.17) per share for the same period in 2006. During the quarter, Quadra recorded revenues of $134,587 from the sale of 32.5 million pounds of copper and 26,067 ounces of gold.



-------------------------------------------------------------------------- Three months Three monthsOperating and Financial Summary ended endedUS $ 000s (except per share data and September 30, September 30, production data) 2007 2006-------------------------------------------------------------------------- (As restated)
Revenues from Concentrate sales 134,587 67,923
Copper produced (million lbs) 30.7 33.3Gold produced (ounces) 24,138 20,425
EBITDA before realised loss on dervatives(1) 66,334 24,534EBITDA after realised loss on dervatives(2) 66,334 (19,430)
Earnings for the period 48,755 20,634
Basic earnings per share $ 0.90 $ 0.55
Diluted earnings per share $ 0.86 $ 0.54
Cash flow from (used by) operations before working capital 61,806 (6,341)Cash flow from (used by) operations before working capital - per share $ 1.13 $ (0.17)Net changes in non-cash working capital (2,217) 6,258Cash flow from (used by) operations 59,589 (83)--------------------------------------------------------------------------(1) Non GAAP measure which is based on operating income adjusted for non cash items less general and administrative costs.(2) Non GAAP measure which is based on operating income adjusted for non cash items and realised gain or loss on derivatives less general and administrative costs.



Paul Blythe, President and CEO of Quadra, comments, "The current metal price environment, coupled with the continuing steady performance of Robinson, allowed us to deliver net earnings of $48.8 million for the quarter. Our EBITDA of $66.3 million is a significant increase over the same period in 2006 as a result of the copper and gold price as well as the volume of sales recorded."

"During the quarter, copper production from the Robinson Mine was 30.7 million pounds and in line with our expectations while gold production of 24,138 ounces was again above forecast. Our year to date results indicate that we are on course to exceed our 2007 guidance of 125 million pounds of copper and 90,000 ounces of gold. On a quarterly basis, production volumes at Robinson will always fluctuate as a result of the nature of the ore body, however, we believe that we are now doing a better job of managing the variability and metallurgical complexity within the deposit. For the Robinson Mine alone our guidance for copper and gold production in 2008 is 130 million pounds and 100,000 ounces respectively. As 2008 is a start-up year for the Carlota copper project, we do not intend to issue 2008 production guidance for this new mine."

Mr. Blythe continues, "We have made substantial progress at our development projects this quarter commencing feasibility level studies at Malmbjerg and advancing Sierra Gorda with a successful drill campaign and the procurement of water rights. At Carlota we continued with extensive construction and engineering activity and while the previously announced 9th Circuit adverse ruling on the issuance of our NPDES Permit was disappointing, assuming we are successful in our discussions with the regulators to either reinstate or replace the permit vacated by the court, or to develop a plan which does not require such a permit, we are moving ahead with the project."

"Quadra is a relatively new company having been founded just over three years ago so we are particularly pleased to have surpassed a $1 billion dollar market cap benchmark during the quarter as well as being added to the S&P / TSX Composite Index on September 24th.

With working capital of $320.8 million on hand at September 30th, the Company's balance sheet is robust and we are well positioned to pursue further M&A opportunities and continue with the execution of our growth strategy."

Effective November 2, 2007, Stuart McDonald, Vice President Finance assumed the role of Quadra's Chief Financial Officer. Derek White, the current Chief Financial Officer will assume a role related to the Company's corporate development and investor relations activities.

A summary of the financial statements together with the Management Discussion and Analysis ("MD&A") are provided below. The complete interim financial statements and the MD&A will be available at www.quadramining.com and www.sedar.com.

The following Management Discussion and Analysis of Quadra Mining Ltd. and its wholly owned subsidiaries (hereinafter, collectively "Quadra" or the "Company") has been prepared as at November 2, 2007 and is intended to supplement and complement the accompanying unaudited financial statements and notes for the three and nine month periods ended September 30, 2007. This MD&A contains 'forward looking information' and reference to the cautionary statement at the end of this MD&A is advised. Additional information relating to the Company, including its Annual Information Form ("AIF"), is available on the SEDAR website at: www.sedar.com. The Company is a reporting issuer in all provinces and territories of Canada and its common shares are traded on the Toronto Stock Exchange under the symbol: QUA.

All financial information in this MD&A is prepared in accordance with the Canadian Generally Accepted Accounting Principles and all dollar amounts are expressed in thousands of United States dollars unless otherwise indicated.

DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS

Quadra is a mining company that owns and operates the Robinson copper mine ("Robinson Mine") near Ely, Nevada. In addition, Quadra holds a 100% interest in the Carlota Copper Project ("Carlota"), a heap leach - SX/EW copper project under construction in Arizona. The Company has an option to purchase the Sierra Gorda project ("Sierra Gorda"), a late stage exploration property near Antofagasta, Chile. The Company has also recently acquired an 82% interest in International Molybdenum Plc. ("InterMoly") which holds the rights to the Malmbjerg molybdenum project ("Malmbjerg") in Greenland. The strategic plan of the Company includes growth by optimising operations, developing projects, and pursuing merger and acquisition opportunities.

THIRD QUARTER HIGHLIGHTS:

- Earnings for the quarter ended September 30, 2007 were $48,755 or $0.90 per share (basic) compared to $20,634 or $0.55 per share (basic) for the quarter ended September 30, 2006.

- The Robinson Mine generated revenue of $134,587 in the third quarter of 2007 from the sale of 32.5 million pounds of copper and 26,067 ounces of gold in concentrates compared to revenue of $67,923 from the sale of 19.6 million pounds of copper and 10,132 ounces of gold in the third quarter of 2006.

- Cashflow from operating activities (before working capital changes)(i) was $61,806 for the third quarter.

- There were no forward sale contracts in place during the third quarter of 2007.

- Production for the quarter was 30.7 million pounds of copper and 24,138 ounces of gold compared to 33.3 million pounds of copper and 20,425 ounces of gold for the third quarter of 2006.

- Onsite and offsite costs(i) were $52,656 and $16,284 respectively for the quarter ended September 30, 2007 compared to $50,287 and $16,932 respectively for the third quarter of 2006.

- On October 4, 2007 the U.S. Court of Appeals for the 9th Circuit released a decision to vacate the National Pollution Discharge Elimination (NPDES) permit for the Carlota Copper Project, and have it returned to the US Environmental Protection Agency for remediation.

- Construction at Carlota continued on schedule with commencement of copper production anticipated in the second half of 2008.

- The Company announced successful drill results at Sierra Gorda as well as the acquisition of water rights at various locations in Region II, northern Chile.

- The Company ended the third quarter with a cash balance of $285.2 million.

- The Company was recently added to the S&P/TSX Composite Index. During the quarter the market capitalization of the Company exceeded $1 billion for the first time.

(i) Under Canadian Generally Accepted Accounting Principles ("GAAP"), offsite and onsite cost terms are not defined terms. Onsite costs consist of mining costs, equipment operating lease costs, mill costs, mine site general and administration costs, royalties and environmental costs. For financial statement reporting purposes, royalties are reported separately from cost of goods sold. Offsite costs consist of the costs associated with the transportation, smelting and refining of concentrate. Cashflow from operating activities (before working capital changes) is also not a defined term under GAAP, and consists of cash provided from operating activities less net changes in non-cash working capital.

FINANCIAL PERFORMANCE

Earnings

Earnings for the quarter ended September 30, 2007 were $48,755 or $0.90 per share (basic) compared to earnings of $20,634 or $0.55 per share (basic) in the third quarter of 2006. The increase in third quarter earnings is primarily due to the higher revenues realized as a result of higher sales volumes and increasing metal prices.

For the first nine months of 2007, earnings were $128,422 or $2.76 per share (basic) compared to a loss of $36,526 or $1.01 per share (basic) for the same nine month period in 2006. The increased earnings in first nine months of 2007 are primarily due to the lower derivative losses in 2007 as the Company settled its remaining forward sale contracts in the first half of the year. Earnings for the nine month period in 2007 also benefited from higher revenues due to increased production and higher average metal prices in the current year.

Operating income for the quarter ended September 30, 2007 was $64,527 compared with $24,005 in 2006. Operating income for the first nine months of the year increased to $202,115 in 2007 from $123,495 in 2006. These increases were similarly due to higher revenues in 2007 as a result of increased production and higher metal prices.

Revenues

All of the Company's revenues are generated by the Robinson Mine. Revenues from sales of concentrate are generally recognized at the time of shipment; however, final pricing is not determined until a future period. As a result, quarterly revenues include estimated prices for sales in the quarter as well as pricing adjustments for sales that occurred in previous quarters.

At June 30, 2007, the end of the previous quarter, receivables included approximately 41.4 million pounds of copper provisionally valued at $3.47 per pound. During the third quarter, 31.5 million pounds of copper that was provisionally valued at June 30, 2007 was settled at an average final price of $3.53 per pound.

In the third quarter, the Company shipped approximately 31.6 million pounds of copper at an initial provisional price of $3.46 per pound; however final pricing of these shipments will not be determined until a future period. At September 30, 2007, receivables include a total of 42.5 million pounds of copper for which final pricing has not been determined and which has been provisionally valued at $3.66 per pound, based on its estimated fair value at quarter-end.

Revenues from concentrate sales were $134,587 for the quarter ended September 30, 2007 compared with $67,923 for the same quarter in 2006. The increase in revenues is primarily due to higher sales volumes as the Company shipped approximately 47% more copper in the third quarter of 2007 than in the third quarter of 2006, and gold sales volumes also increased 133% over the same period. Revenues in the third quarter of 2007 were also positively impacted by pricing adjustments as a result of increasing copper and gold prices, and by lower refining and treatment costs, which are deducted in determining revenue.

For the nine month period ended September 30, 2007 revenues were $412,181 compared to $294,084 for the same period in 2006. The increase is primarily due to increased production of copper and gold and higher average metal prices in the current year.

Cost of Sales and Expenses

Cost of sales for the quarter ended September 30, 2007 was $58,256 compared to $36,410 for the third quarter of 2006. For the nine months ended September 30, 2007, cost of sales increased to $177,593 from $148,237 in the same period of 2006. These increases in costs of sales are primarily due to the increased sales volumes in the current year. Amortization, depletion and depreciation for the quarter ended September 30, 2007 was $3,810 compared to $1,708 in 2006. For the nine months ended September 30, 2007, amortization, depletion and depreciation increased to $10,493 from $7,478 for the same period in 2006. The increases in amortization, depletion and depreciation are primarily due to the increase in sales volumes.

Royalties and mineral taxes for the quarter ended September 30, 2007 were $7,232 compared to $5,255 in 2006. For the nine months ended September 30, 2007, royalties and mineral taxes were $20,249 compared to $13,270 in 2006. The increase in royalties and mineral taxes is primarily due to higher metal prices and increased production in the current year. In addition, in the first half of 2006, royalty costs of $3,677 were paid into a trust for qualified rehabilitation expenditures, and therefore did not impact the statement of operations.

General and administrative expenses for the quarter ended September 30, 2007 were $2,765 in 2007 compared to $1,724 in the third quarter of 2006. General and administrative expenses for the first nine months of 2007 increased to $7,298 from $5,756 in 2006 due to increased activities at the corporate office.

There were no forward sale contracts in place during the third quarter of 2007. The loss on derivatives for the quarter was $1,743 and relates to a take or pay fuel contract, an interest rate cap, and copper put options (see Financial Instruments and Other Instruments). For the nine month period to September 30, 2007, the loss on derivatives was $14,522 and primarily related to the forward sale contracts which were all settled by June 2007. For the three and nine month periods ended September 30, 2006, the loss on derivatives was $9,338 and $179,745, respectively, and related to the forward sale contracts.

Net interest and other income totalled $1,937 in the third quarter of 2007 compared to $209 in 2006. Net interest and other income for the nine month period to September 30, 2007 was $3,758 compared to an expense of $618 in the first nine months of 2006. These increases are primarily due to increased interest income from the higher cash balances and a $950 gain on asset disposition that was recognized in 2007.

Foreign exchange gains increased to $3,283 for the third quarter of 2007 and $6,152 for the first nine months of 2007 from ($204) and $53, respectively, for the same periods in 2006. The proceeds of the May 2007 equity financing were denominated in Canadian dollars and the Company has benefited from a strengthening Canadian dollar since then.

The loss on settlement of debt of $11,039 relates to the second lien secured credit facility which was retired in June, 2007 (see Liquidity and Capital Resources).

In the third quarter of 2006, the Company earned a termination fee of $24,194 related to an option agreement with AMP Life Limited, the major shareholder of Equatorial Mining Limited, as a result of the Company's unsuccessful attempt to acquire all of the issued and outstanding common shares of Equatorial. The Company incurred total fees and costs of $9,722 related to this transaction, resulting in a net gain of $14,472 which was recognized in the third quarter of 2006.

The Company recorded an income tax expense of $45,965 for the nine month period ended September 30, 2007 compared with a recovery of $13,286 for the same period in 2006. The tax provision for the first nine months of 2007 has been recorded based on an estimated annual effective tax rate of 26.5% which is consistent with the rate used for the same period in 2006.

SUMMARY OF QUARTERLY RESULTS

The following table summarizes the operating results of the most recent eight quarters (unaudited):


--------------------------------------------------------------------------SUMMARY OF QUARTERLY RESULTS 2007--------------------------------------------------------------------------$ US 000s Q3 Q2 Q1Statement of Operations
Revenues 134,587 141,139 136,455Operating income (loss) 64,527 72,618 64,972Earnings (loss) before income taxes 63,739 50,772 59,876Earnings (loss) 48,755 36,556 43,111Basic earnings (loss) per share $ 0.90 $ 0.78 $ 1.13Diluted earnings (loss) per share $ 0.86 $ 0.76 $ 1.12
Financial PositionCash 285,210 278,462 224,252Total Assets 758,900 687,457 531,266Total Liablities and non-controlling interest 270,671 263,687 318,461Shareholders' equity 488,229 423,770 212,805
Production Statistics - Robinson mineCopper production (million lbs) 30.7 32.2 36.6Gold production (ozs) 24,138 25,893 31,040Copper grade (%) 0.66 0.59 0.67Gold grade (g/t) 0.39 0.36 0.46Copper recovery 58.1% 71.4% 75.0%Gold recovery 52.5% 64.0% 63.1%Total onsite and offsite costs 68,940 69,397 66,090--------------------------------------------------------------------------
-------------------------------------------------------------------------- 2005 (As 2006 (As restated) restated)--------------------------------------------------------------------------$ US 000s Q4 Q3 Q2 Q1 Q4Statement of Operations
Revenues 99,173 67,923 142,225 83,936 65,331Operating income (loss) 30,713 24,005 72,431 33,181 29,757Earnings (loss) before income taxes 56,375 26,960 (31,696) (45,076) (8,982)Earnings (loss) 50,960 20,634 (21,997) (35,163) (5,609)Basic earnings (loss) per share $ 1.34 $ 0.55 $ (0.59) $ (1.15) $ (0.20)Diluted earnings (loss) per share $ 1.32 $ 0.54 $ (0.59) $ (1.15) $ (0.20)
Financial PositionCash 47,774 37,864 50,211 24,421 9,128Total Assets 335,966 328,426 347,894 308,182 250,642Total Liablities and non-controlling interest 170,850 214,592 259,062 203,468 157,890Shareholders' equity 165,116 113,834 88,832 104,714 92,752
Production Statistics - Robinson mineCopper production (million lbs) 35.3 33.3 27.8 25.0 31.6Gold production (ozs) 27,646 20,425 12,532 14,471 22,262Copper grade (%) 0.67 0.69 0.52 0.53 0.57Gold grade (g/t) 0.41 0.32 0.24 0.27 0.34Copper recovery 61.0% 63.4% 70.3% 69.5% 73.5%Gold recovery 53.7% 57.9% 47.5% 54.5% 61.5%Total onsite and offsite costs 64,166 67,219 67,979 62,622 52,328--------------------------------------------------------------------------



The quarterly performance of the Robinson Mine varies as a result of changes in head grade, metal recovery and waste stripping requirements. Due to the complex nature of the Robinson ore body, volatility in metal prices, and industry cost pressures the results have varied from quarter to quarter, and are expected to vary from quarter to quarter in the future.

REVIEW OF OPERATIONS AND PROJECTS


ROBINSON MINE Three months ended Nine months ended Sept 30 Sept 30 ---------------------- ---------------------- 2007 2006 2007 2006
Copper production (Million lbs) 30.7 33.3 99.5 86.0Gold production (ozs) 24,138 20,425 81,071 47,428Waste mined (Tonnes 000's) 13,977 14,425 45,695 45,247Ore mined (Tonnes 000's) 4,405 4,175 10,928 11,160Ore milled (Tonnes 000's) 3,648 3,426 10,418 9,941 ---------------------- ----------------------Onsite costs $ 52,656 $ 50,287 $ 151,796 $ 135,712Offsite costs $ 16,284 $ 16,932 $ 52,631 $ 62,108 ---------------------- ----------------------Total costs $ 68,940 $ 67,219 $ 204,430 $ 197,820Capital expenditures $ 6,856 $ 3,573 $ 18,022 $ 7,544 ---------------------- ----------------------By product credits - Gold and silver $ 18,658 $ 7,421 $ 57,529 $ 27,657 - Molybdenum $ 681 $ 1,063 $ 1,737 $ 5,741 ---------------------- ----------------------Copper grade (%) 0.66 0.69 0.64 0.58Gold grade (g/t) 0.39 0.32 0.40 0.27Copper recovery 58.1% 63.4% 67.8% 67.3%Gold recovery 52.5% 57.9% 59.9% 53.7%Mill Operating Time 92% 89% 91% 89%



During the third quarter of 2007 a total of 18.38 million tonnes of ore and waste were mined from the Veteran area of the Tripp - Veteran pit. In the third quarter, ore was largely mined from the supergene zone. As anticipated, copper recoveries were impacted by the presence of copper oxides, both acid soluble and non-acid soluble, that are associated with this zone and which are not amenable to flotation and therefore not recoverable. Copper production for the quarter ended September 30, 2007 was 30.7 million pounds, compared to 33.3 million pounds for the same quarter in 2006. Copper production for the first three quarters of 2007 was 99.5 million pounds compared to 86.0 million pounds in the first three quarters of 2006. The increased copper production in 2007 is a result of increased copper head grade and increased mill throughput. The increased mill throughput is directly related to improved pH control in the milling circuit, a capital project put in place as a result of experience gained in 2006.

Gold production in the third quarter of 2007 was 24,138 ounces compared to 20,425 ounces in 2006. Gold production for the first nine months of 2007 now totals 81,071 ounces compared to 47,428 ounces in the first nine months of 2006. The increase in gold recovery and gold production in 2007 is due to increased gold head grade.

Robinson Operating Costs

Operating costs are comprised of onsite and offsite costs. Onsite costs are primarily driven by the volume of waste and ore moved, payroll costs, equipment maintenance costs, and royalties. Onsite costs for the quarter ended September 30, 2007 were $52,656 compared to $50,287 in the third quarter of 2006, with the increase primarily due to higher royalty costs. Onsite costs for the first nine months of 2007 were $151,796 compared to $135,712 in the first nine months of 2006. The increased costs in the first nine months of 2007 primarily relate to an additional $4.4 million of costs for tire replacements on haul trucks, an additional $3.3 million of costs for scheduled replacements of major components on the haul trucks, and an additional $6.5 million of royalty costs. Royalty costs are higher in 2007 as a result of increased production, higher copper and gold prices and the impact of royalty costs now being fully payable (see "Costs of Sales and Expenses").

Offsite costs are primarily driven by smelting and refining charges, the volume of concentrate transported, and rail and ocean freight rates. Offsite costs were $16,284 for the quarter ended September 30, 2007 as compared to $16,932 in the third quarter of 2006. This decrease in offsite costs is primarily due to lower rates for smelting and refining charges which have continued to fall as a result of surplus smelting capacity, substantially offset by the higher volumes of product shipped. Offsite costs for the first nine months of 2007 were $52,631 compared to $62,108 in the first nine months of 2006. The decrease in offsite costs for the nine month period is also primarily due to lower rates for smelting and refining charges, partially offset by higher volumes shipped and by increased ocean freight rates. There has been upward pressure on freight rates through 2007.

For the quarter ended September 30, 2007 the cash cost per pound of copper produced, including stripping costs, was $1.62 compared to $1.76 in the third quarter of 2006. For the first nine months of 2007, the cash cost per pound of copper produced was $1.46 compared to $1.91 for the same period in 2006. The reductions in the cash costs per pound have primarily been driven by increased gold by-product revenue and by changes in copper production, which has increased on a year to date basis but is lower on a quarter over quarter basis. The cash cost per pound of copper produced is a non-GAAP term and consists of onsite and offsite costs, less by-product revenue, divided by the pounds of copper produced in the period.

Robinson Production Outlook

In 2008, the Company expects annual production of 130 million pounds of copper and 100,000 ounces of gold. Due to the continued complex nature of the Robinson ore body, metal production is expected to vary from quarter to quarter in 2008. The guidance includes the impact of the supergene zone, which will again be encountered later in the year.

For 2007, the Company expects to exceed its previous forecast of 125 million pounds of copper production, and this forecast reflects the expected impact of the supergene material encountered in third quarter. Gold production has exceeded expectations in 2007 and remained at levels higher than predicted by the block model. Based on the gold production trend and the year to date results, the Company is expecting to exceed the current gold guidance of 90,000 ounces for the current year. Technical studies, including re-assays of existing samples, are underway to evaluate methods of improving the gold grade estimated in the Veteran pit. By-product molybdenum production is expected to be low and erratic in the remainder of the Veteran pit. As a result, the molybdenum recovery plant is only being operated intermittently when the head grade is appropriate.

The global shortage of large off-road tires is being addressed by improvements in operating practices which are extending the useful life of all tires. The Company also entered into a tire supply agreement to help meet tire requirements for 2007-2009. While the shortage of tires continues, the situation seems to be moderating as additional production capacity and new producers come on line.

Mill recoveries are expected to follow the trends observed in the first phase of the Veteran pit, with variable recoveries in the upper benches of the ore body, lower recoveries but higher grades in the supergene material and higher recoveries in the hypogene material below the supergene blanket. The automated lime slaking system is providing improved chemical control in the flotation circuit, which has allowed for higher throughput when treating refractory ores.

Exploration drilling in the first three quarters of 2007 focused on the potential for additional reserves in the Veteran pit, with the accumulated data expected to be converted into a resource estimate by early next year. Current drilling activity is focused on metallurgical samples and development drilling from the Ruth pit, which is expected to be the primary source of ore from 2010 onwards.

Robinson Cost Outlook

The planned replacement of haul truck drive train components (engines, transmissions, rear ends) is substantially completed, with only one of the twelve trucks planned for in 2007 remaining to be overhauled. These repairs have been less costly than anticipated due to the Reliability Centered Maintenance (RCM) program that allowed the components to be replaced on a just in time basis.

CARLOTA COPPER PROJECT

During the quarter ended September 30, 2007 the Company continued construction activities at the Carlota Copper Project. Activities included the construction of primary access and haul roads, vegetation removal and grading of mine facilities sites, initiation of SX-EW platform concrete work and development of the leach pad grading and drainage.

In the first nine months of 2007, the Company has incurred capital expenditures of $59.4 million on the project for the purchase of mining equipment and other project development costs. The Company has also capitalized interest and financing costs of $9.1 million.

Carlota Outlook

Construction service and supply contracts will continue to be negotiated and awarded during the fourth quarter of 2007. Leach pad grading and development activities, SX-EW plant construction and ancillary facilities development and pre-production mining activities will continue in the remainder of 2007.

On October 4, 2007 the United States Court of Appeals for the 9th Circuit released its decision in an action relating to one of the water discharge permits issued for the Carlota Copper Project. In the decision, the Court ordered the National Pollution Discharge Elimination (NPDES) permit be "vacated" and returned to the United States Environmental Protection Agency (EPA) for further processing consistent with the Court's decision (see Contingencies). Quadra is reviewing the decision and developing a course of action going forward.

The Company reports the development of the project to be on schedule and on budget and anticipates commencement of copper production in the second half of 2008.

SIERRA GORDA

During the first nine months of 2007, the Company has incurred costs of $6.7 million for exploration of the Sierra Gorda project and spent $927 on claim option payments.

The results from last years deep sulphide drilling moved the focus from an oxide heap-leach project to a potentially larger project that would encompass both heap leaching and primary sulphide production. The priority through the third quarter of 2007 has been to evaluate and extend sulphide and oxide mineralization in the "281 Zone" - the area around the discovery hole from 2006 - in an effort to gather sufficient information to support an inferred category mineral resource in this zone. Drill results announced during the quarter continue to confirm the presence of deep high grade sulphide mineralization. In addition, the program is evaluating covered oxide and sulphide targets generated by last year's shallow grid drilling, and other sulphide targets within the claim block. The exploration program has built up progressively since commencement in April and there were six drill rigs on site at the end of the quarter. Total exploration expenditures for the year are expected to be approximately $11 million.

During 2007, the Company has been acquiring water pumping rights from various sellers in Region II in northern Chile and has also entered into option agreements to acquire additional water rights in 2008. As of September 30, 2007 the Company had incurred total costs of $10.6 million on the water rights acquisition program, which includes acquisition costs, legal and other advisory services, payments under option agreements, and the fair value of common shares issued to acquire a private Chilean company.

MALMBJERG MOLYBDENUM PROJECT

During the second quarter of 2007, the Company acquired 82% of the outstanding shares of International Molybdenum Plc ("InterMoly") which holds the rights to the Malmbjerg molybdenum project (see InterMoly Acquisition). The studies carried out by InterMoly before the acquisition proposed a conventional open pit operation with a production rate of approximately 23 million pounds per year of molybdenum commencing in 2011. In July 2007, the Company announced that InterMoly had commenced the feasibility level studies required to make a development decision for the project. All field work planned for 2007 has been completed and the site has been demobilized. Pilot plant testing of the bulk sample taken this summer is underway. Engineering and cost studies are proceeding on schedule.

The budget through to the end of the study period is $15 million with a completion target for the first half of 2008. As of September 30, 2007 the Company had incurred costs of approximately $9.2 million on the project.

InterMoly Acquisition

On March 30, 2007 Quadra announced its intention to make an offer (the "Offer") to acquire all of InterMoly's issued share capital (the "InterMoly Shares") and traded warrants (the "InterMoly Warrants").

The Offer was based on InterMoly shareholders receiving one Quadra share for each 36.22 InterMoly shares and InterMoly warrant holders receiving one Quadra share for each 99.23 InterMoly warrants. An irrevocable undertaking to accept the Offer was received from Galahad Gold plc in respect of approximately 78% of the InterMoly Shares and 25% of the InterMoly Warrants. The InterMoly directors considered the terms of the Offer to be fair and reasonable and agreed to recommend the Offer to holders of InterMoly Shares and InterMoly Warrants. The Offer, which was subject to a number of conditions, was mailed to InterMoly Shareholders and Warrant holders on April 27, 2007 along with a prospectus equivalent document.

On May 11, 2007 the Company announced all of the conditions of the Offer had either been satisfied or waived and extended the Offer to June 12, 2007. The Offer was further extended to June 22, 2007 and closed on that date with Quadra having received 82.5% of InterMoly Shares and 90.8% of InterMoly Warrants. In September 2007, the Company completed the compulsory acquisition of the remaining outstanding InterMoly Warrants.

A total of 3,293,111 common shares of the Company were issued in exchange for the interest in InterMoly. The fair value of the acquisition was $39.8 million, which includes transaction costs of $2.6 million.

LIQUIDITY AND CAPITAL RESOURCES

The Company's source of cash flow from operations is the Robinson Mine. The Company generated cash flow from operations (excluding working capital changes) of $61.8 million in the third quarter of 2007 compared to a use of $6.3 million in the third quarter of 2006. This increase primarily relates to the higher revenues and sales volumes in 2007 and the lower realized loss on derivatives in the current year, as the remaining forward sale contracts were settled in the second quarter of 2007 and not replaced. These same factors also contributed to an increase in cash flow from operations (excluding working capital changes) for the first nine months of 2007 to $146.8 million from $18.7 million in the first nine months of 2006.

The Company incurred capital expenditures of $59.4 million at the Carlota project in the first nine months of 2007, for the purchase of mining equipment and other project development costs. The Company spent $18.2 million on exploration and development of Sierra Gorda and Malmbjerg. Year to date capital expenditures at the Robinson Mine were $18.0 million. These are related to normal replacement and upgrades, tailings dam work and the development and exploration drilling program in progress.

In March 2007 the Company completed a $200 million syndicated private loan financing, consisting of a $150 million First Lien Secured Credit Facility ("First Facility") and a $50 million Second Lien Junior Secured Credit Facility ("Second Facility"). The First Facility has a 5 year term and bears interest at LIBOR + 6.5%. The Second Facility had a 7 year term and bore interest at LIBOR + 10%. The Second Facility was repaid in full in June 2007. With respect to the First Facility, the Company has certain prepayment options and the lenders have the ability to call a portion of the debt on a semi-annual basis (see Commitments and Contractual Obligations). The First Facility is secured by all Company assets except Sierra Gorda and payments and distributions outside of the secured group of assets are subject to certain restrictions. The Company paid fees and other transactions costs of $7.7 million in connection with arranging the Facilities, and also issued 2,027,776 warrants to the Second Facility Lenders. Each warrant entitles the holder to purchase a common share of the Company at an exercise price of $Cdn9.24 per share before March 1, 2012.

In the first quarter of 2007, the Company repaid the $16.9 million balance that was outstanding under its working capital facility with Macquarie Bank Ltd. ("Macquarie"), and this facility expired on March 31, 2007. The Company's hedge line of credit facility with Macquarie also expired on June 30, 2007 following settlement of the remaining forward sale contracts in the second quarter (see section below "Financial Instruments and Other Instruments").

In May 2007, the Company completed an equity financing with a syndicate of underwriters through which the Company issued 11.96 million units at a price of $Cdn12.60 per unit for gross proceeds of $Cdn150.7 million. Each unit consisted of one common share of the Company and one-half of a warrant, with each whole warrant entitling the holder to purchase an additional common share at an exercise price of $Cdn20.00 for a period of three years. The Company incurred share issue costs of $5.8 million in connection with this offering.

A portion of the proceeds of the equity financing was used to repay the $50 million Second Facility which was retired in June 2007. Under the terms of the Second Facility, the Company was required to pay a prepayment premium of $5 million to retire this debt.

At September 30, 2007 the Company had working capital of $320.8 million as compared to a working capital deficiency of $18.7 million at December 31, 2006. The increase in the working capital position is primarily due to the equity financing completed in May 2007, the long-term debt financing completed in March 2007, the settlement of the forward sale position, and the impact of improving metal prices. At September 30, 2007, accounts receivable and revenues includes approximately 42.5 million pounds of copper provisionally valued at $3.66 per pound. The final pricing for these provisionally priced sales is expected to occur between October 2007 and January 2008. Changes in the price of copper from the amounts used to calculate the provisional values will impact the Company's revenues and working capital position in future periods.

At September 30, 2007 the Company had cash and cash equivalents of approximately $285.2 million. These amounts are comprised of cash deposits and highly liquid investments that are readily convertible to cash. The counter-parties include banks, governments, government agencies and a major finance company.

The Company has expansion plans, including but not limited to, construction of the Carlota project which continues to be on budget, and exploration and development activities related to Sierra Gorda and Malmbjerg where the Company expects to spend an additional $9 million in the fourth quarter of 2007. Management expects that, at current copper prices, the cash on hand and funds generated from mining operations will be sufficient for the Company to complete construction of the Carlota project and the current planned programs at Sierra Gorda and Malmbjerg.

Commitments and contractual obligations


-------------------------------------------------------------------------- Payment Due By Period-------------------------------------------------------------------------- Less than 1-2 2-3 3-4 4-5 After 5($ thousands) 1 year years years years years years Total--------------------------------------------------------------------------Senior secured credit facility and interest payments(a) 17,250 17,250 17,250 17,250 157,188 - 226,188Deferred consideration(b) - - 19,588 - - - 19,588Equipment purchase(c) 9,768 - - - - - 9,768Reclamation liabilities(d) - - - - - 87,912 87,912Take or pay contract(e) 10,632 6,600 4,950 - - - 22,182Minimum lease payments (capital and operating) 11,062 11,408 11,302 10,719 2,076 - 46,567--------------------------------------------------------------------------Total 48,712 35,258 53,090 27,969 159,263 87,912 412,204--------------------------------------------------------------------------



(a) Senior secured credit facility

Interest on the Company's $150 million First Facility is payable quarterly based on an annual interest rate of LIBOR + 6.5%. The Company is obligated to make a semi-annual offer to the lenders to repay an amount equal to 50% of excess cash flow, as computed under the terms of the First Facility. The Company also has the right to prepay the First Facility at a premium of 103% for the first three years, 102% in the fourth year and 101% in the fifth year.

(b) Deferred Consideration

As at September 30, 2007, 25,000 ounces of gold and cash of $3,782 remained to be paid to the vendor as deferred purchase consideration in connection with the acquisition of the Carlota project in 2005. Based on the terms of the purchase contract, the payment of these amounts is required to be made on the earlier of June 30, 2010 and the date when the permitting related litigation is resolved (see Contingencies). The deferred gold payments had an estimated fair value of $15,806 at September 30, 2007.

(c) Equipment purchases

As of September 30, 2007 the Company had committed to capital expenditures of $9.7 million related to equipment for the Carlota project and the Robinson mine.

(d) Reclamation liabilities

The Company has estimated total future reclamation costs of $87.9 million (undiscounted), primarily related to the closure of the Robinson Mine. The Company has estimated the fair value of this liability to be $36.3 million at September 30, 2007 based on the estimated discounted future payments.

(e) Take or Pay Contracts

In 2007 the Company entered into an agreement to purchase, on a take or pay basis, 504,000 gallons of fuel per month until February 2008. The Company has also signed a three year tire supply contract for a total commitment of approximately $6,600 per year.

MANAGEMENT APPOINTMENTS

Effective November 2, 2007, Stuart McDonald, Vice President Finance assumed the role of Quadra's Chief Financial Officer. Derek White, the current Chief Financial Officer, will assume a role related to the Company's corporate development and investor relations activities.

MARKET TRENDS AND FUNDAMENTALS

Since 2003, the growing demand for copper, particularly in China, coupled with an inability of the copper industry to increase supply due to a lack of immediate development projects, has resulted in decreased inventories of copper. These low inventories, together with a weakening U.S. dollar, have led to a substantial increase in the copper price.

The following graph shows the inventory level, as published by the London Metal Exchange ("LME"), of copper and the spot price of copper from 1990 to September 30, 2007.

To view graph please click on the following link: http://www.ccnmatthews.com/docs/LME_Copper_QUA.jpg

Inventories published on the LME declined to a 30 year low of only 25,525 tonnes on July 22, 2005 but they have since rebounded to 130,775 tonnes as of September 30, 2007.

The copper price has remained volatile over the past 12 months with the spot price ranging from a low of $2.37 per pound to a high of $3.73 per pound during this period. During the third quarter of 2007, the spot price ranged from a low of $3.16 to a high of $3.72 per pound. At September 30, 2007 the closing spot price was $3.70 per pound. At November 2, 2007, the closing spot price was $3.42 per pound.

The reference price of copper metal is determined by trading on the LME, where the price is set in U.S. dollars at the end of each business day.

FINANCIAL INSTRUMENTS AND OTHER INSTRUMENTS

The Company's revenues and cash flows are subject to fluctuations in the market price of copper and gold. In addition, there is a time lag between the time of initial payment on shipment and final pricing, and changes in the price of copper and gold during this period impact the Company's revenues and working capital position.

As of September 30, 2007 the Company has no outstanding forward sales contracts for copper or gold. As at December 31, 2006 the Company had forward contracts outstanding to sell 67 million pounds of copper at an average price of $2.26 per pound and 24,000 ounces of gold at an average price of $429/oz. The outstanding copper contracts related to metal produced in 2006 but the final pricing of the sales and settlement of the contracts did not occur until the first half of 2007. At December 31, 2006 the Company recorded a liability of $46.5 million based on the fair value of the outstanding forward contracts at that time. In the first and second quarters of 2007, the Company recorded realized derivative losses of $54.4 million on the income statement, based on the difference between the actual sales prices and the forward contracted prices.

None of the production in 2007 has been sold forward. However, in recognition of the volatility of the commodities market and the corporate debt taken on to construct Carlota, the Company has instituted a floor price protection program. Under this program, the Company has purchased copper put options during the second and third quarters of 2007 at a cost of approximately $2.9 million. At September 30, 2007 the Company had outstanding put options for approximately 83 million pounds of copper with an average strike price of $2.18 per pound and with maturity dates spread between October 2007 and August 2008. The fair value of these put options at September 30, 2007 was $0.1 million. The $2.8 million reduction in the fair value of the put options has been recognized as a derivative loss on the statement of operations in the first nine months of 2007.

During the first quarter of 2007 the Company entered into an agreement to purchase, on a take or pay basis, 504,000 gallons per month of diesel fuel for the 12 month period beginning February 1, 2007. As at September 30, 2007, the fair value of the contract was $1.0 million, resulting in unrealized derivative gains of $1.0 million for the nine month period ended September 30, 2007.

The Company's $150 million senior secured credit facility bears interest at a variable rate of LIBOR + 6.5%. As a condition of the $150 million credit facility, the Company purchased a contract which provides an interest rate cap. The contract effectively caps LIBOR at 5.35% for $100 million of debt until June 6, 2010. The cost of the interest rate cap was $0.5 million. The fair value of the interest rate cap was $0.4 million at quarter-end resulting in an unrealized loss of $0.1 million for the nine month period ended September 30, 2007.

CONTINGENCIES

On October 4, 2007 the United States Court of Appeals for the 9th Circuit released its decision in an action relating to one of the water discharge permits issued for the Carlota Copper Project, currently under construction in Arizona. In the decision, the Court ordered the National Pollution Discharge Elimination (NPDES) permit be "vacated" and returned to the United States Environmental Protection Agency (EPA), who have been defending the permit before the courts, for further processing consistent with the Court's decision. While the lawsuit was not filed against the Carlota Copper Company ("CCC") (a 100% owned subsidiary of Quadra Mining Ltd.), CCC intervened in the case and is a party in the litigation with the right to appeal the decision. Quadra is currently reviewing the decision and considering its options. If the decision is appealed, the permit may remain effective. If it is not appealed, the decision goes into effect 52 days after the ruling. The decision has no immediate impact, as the primary purpose of the permit is to deal with the situation where, after operations commence, there is a major storm event that gives rise to excess water that requires discharge and does not meet Clean Water Act specifications. The Company's intent is to continue construction of the project and to find a solution to the discharge issue. The Company has already complied with a specific commitment under the permit as drafted by participating in the clean-up of old mine workings unrelated to Carlota and upstream of the project, with the intent of significantly improving water quality in Pinto Creek.

In the event that the NPDES permit is not reissued, and no solutions to the issues can be found that are satisfactory to the EPA, the design of the mine site with respect to run-off would have to be changed so that the permit would not be required. Management is studying the implications of this option. There can be no assurance that additional permits required for the development and operation of Carlota will not be challenged in the future.

In July 2007 the Company received a notice that a claim had been filed in Chilean courts against the Company's wholly-owned Chilean subsidiary, Minera Quadra Chile Limitada. The claimant is a 5.33% shareholder in a corporation (the "Optionor") with which the Company signed an option agreement in 2004. The claimant is seeking to nullify the option agreement on the basis that the Optionor did not obtain proper shareholder approval of the agreement. This agreement is one of the six option agreements that the Company holds with respect to its Sierra Gorda mineral property. Based on advice received from Chilean counsel the Company believes that the option agreement is valid and that the claim is without merit.

TRANSACTIONS WITH RELATED PARTIES

One of the directors of the Company is a partner of an affiliate of Blake, Cassels & Graydon LLP. During the three months ended September 30, 2007, the Company incurred legal fees of $83 with that entity (three months ended September 30, 2006: $140). During the nine months ended September 30, 2007, the Company incurred legal fees of $844 with that entity (nine months ended September 30, 2006: $339).

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

In preparing financial statements management has to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Based on historical experience, current conditions and expert advice, management makes assumptions that are believed to be reasonable under the circumstances. These estimates and assumptions form the basis for judgments about the carrying value of assets and liabilities and reported amounts for revenues and expenses. Different assumptions would result in different estimates and actual results may differ materially from results based on these estimates. These estimates and assumptions are also affected by management's application of accounting policies. Critical accounting policies and estimates are those that affect the consolidated financial statements materially and involve a significant level of judgment by management.

Mineral Properties

Exploration and development costs relating to specific properties are capitalised and deferred until the project to which they relate is sold, abandoned, impaired or placed into production. Upon commencement of commercial production these costs are written off over the life of the mine based on proven and probable reserves. The determination of the extent of reserves is a complex task in which a number of estimates and assumptions are made. These involve the use of geological sampling and models as well as estimates of future costs. New knowledge derived from further exploration and development of the ore body may also affect reserve estimates. In addition the determination of economic reserves depends on assumptions on long-term commodity prices and in some cases exchange rates.

Revenue Recognition

Revenue is recognized when title passes, the rights and obligations of ownership pass to the customer, and payment is reasonably assured. The majority of the Company's concentrate is sold under pricing arrangements where final pricing is not determined until a number of months after the point of recognition. The Company estimates provisional pricing for its concentrate based on forward prices for the expected date of the final settlement. Adjustments are recorded in future periods for metal price changes subsequent to the date of the sale. As a result, quarterly revenues include estimated prices for sales in the quarter as well as pricing adjustments for sales that occurred in previous quarters. These types of adjustments can have a material impact on the revenues within a quarter.

Economic Life

Management's estimate of the remaining economic life of the Robinson Mine is approximately 9 years based on the updated resource statement provided in accordance with National Instrument 43-101 while the economic life of the Carlota project is approximately 11 years. Based on management's view of future metal prices, the carrying value of these assets was not impaired at September 30, 2007.

Asset Retirement Obligations, Reclamation and Mine Closure

Due to uncertainties concerning environmental remediation, the ultimate cost to the Company of future site restoration could differ from the amounts provided. In 2007 the Company has revised its estimate of the timing and amount of closure costs at the Robinson Mine and, as a result, recorded an additional liability of $8.7 million in the second quarter of 2007. The estimate of the total liability for future site restoration costs is subject to change based on amendments to laws and regulations and as new information concerning the Company's operations becomes available. The Company is not able to determine the impact on its financial position, if any, of environmental laws and regulations that may be enacted in the future.

Future Income Tax Assets

The Company has recognized a net current future income tax liabilities of $5.3 million and a net non-current future income tax assets of $5.1 million that relates to the temporary difference created between the tax and accounting basis of assets and liabilities of operations based in the United States. Management estimates that, using long term copper prices in line with its mine plan estimates, the future taxable income will be sufficient to utilize the net tax assets which have been recognized.

CHANGE IN ACCOUNTING POLICIES

Deferred stripping

The Emerging Issues Committee of the CICA issued Abstract 160 "Stripping Costs Incurred in the Production Phase of a Mining Operation" (EIC 160), which indicates that generally, stripping costs should be accounted for as variable production costs unless the costs result in a betterment of the mineral property by providing access to additional sources of ore, in which case they can be capitalized and amortized over the additional reserves directly impacted by the stripping activities. The new standard applies to fiscal years beginning on or after July 1, 2006. Effective January 1, 2007, the Company changed its method of accounting for stripping costs to the method described in EIC 160. Previously, the Company deferred stripping costs incurred in excess of the life-of-pit average strip ratio. This change in accounting policy has been applied retroactively and the comparative financial statements have been restated as described in Note 3(a) of the interim financial statements.

Financial Instruments

Effective January 1, 2007, the Company adopted CICA Handbook Section 3855 "Financial Instruments - Recognition and Measurement", Section 3865 "Hedges" and Section 1530 "Comprehensive Income". These new standards were adopted on a prospective basis in 2007 with no restatement of prior period financial statements.

In accordance with these standards the Company classified all financial instruments as either held-to-maturity, available-for-sale, held for trading, or loans and receivables. Financial assets held to maturity, loans and receivables and financial liabilities other than those held for trading, are measured at amortized cost. Available-for-sale instruments are measured at fair value with unrealized gains and losses recognized in other comprehensive income. Instruments classified as held for trading are measured at fair value with unrealized gains and losses recognized on the statement of operations. Transaction costs on financial assets and liabilities classified other than as held for trading are treated as part of the investment cost. The Company currently does not apply hedge accounting to its derivative instruments.

OUTSTANDING SHARE DATA

The Company had 54,884,229 common shares issued and outstanding common shares at September 30, 2007. As of November 2, 2007 the Company had 54,954,661 common shares issued and outstanding.

CONTROL OVER FINANCIAL REPORTING

Internal Control over Financial Reporting means a process designed under the supervision of the Company's Chief Executive Officer and Chief Financial Officer to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements. The design includes policies and procedures that;

1. pertain to the maintenance of records,

2. provide reasonable assurance that transactions are recorded appropriately and that receipts and expenditures are being made only in accordance with authorizations of management and directors, and

3. provide reasonable assurance regarding prevention or timely detection of material unauthorized acquisition, use or disposition, of the Company's assets.

During the process of management's review and evaluation of the design of the Company's internal control over financial reporting, it was determined that the design and evaluation of internal controls over information technology at the Robinson Mine was not completed. The design and implementation of these controls is expected to be completed in 2007. Management is committed to improving the controls for information technology and will institute a remediation plan. Nothing has come to the attention of management that would indicate that any potential weakness in the mine's internal controls over information technology has resulted in a material misstatement of the financial statements of the Company.

November 2nd, 2007

This press release, including the MD&A contains "forward-looking information" that is based on Quadra's expectations, estimates and projections as of the dates as of which those statements were made. This forward-looking information includes, among other things, statements with respect to Quadra's business strategy, plans, outlook, long-term growth in cash flow, earnings per share and shareholder value, projections, targets and expectations as to reserves, resources, results of exploration (including targets) and related expenses, property acquisitions, mine development, mine operations, mine production costs, drilling activity, sampling and other data, estimating grade levels, future recovery levels, future production levels, capital costs, costs savings, cash and total costs of production of copper, gold and other minerals, expenditures for environmental matters and technology, projected life of our mines, reclamation and other post closure obligations and estimated future expenditures for those matters, completion dates for the various development stages of mines, availability of water for milling and mining, future copper, gold, molybdenum and other mineral prices (including the long-term estimated prices used in calculating Quadra's mineral reserves), the percentage of production derived from mechanized mining, the percentage of production from milling, currency exchange rates, debt reductions, timing of expected sales and the percentage of anticipated production covered by forward sale and other option contracts or agreements, anticipated outcome of litigation and personnel issues. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should", "scheduled", "will", "plan" and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Quadra's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to:

- Uncertainties related to the accuracy of reserve and resource estimates and estimates of future production and future cash and total costs of production and the geotechnical or hydrogeological nature of ore deposits, diminishing quantities or grades of reserves and variable metallurgical performance of these reserves.

- Uncertainties related to expected production rates, timing of production and the cash and total costs of production and milling.

- Uncertainties relating to copper, gold, molybdenum and other mineral prices, which are beyond the Company's control.

-The Company sells concentrate material which is subject to provisional payments; uncertainty in the final metal prices used for the computation of final settlement exists such that final settlement could be less than the cost of production plus other liquidity requirements.

- Operating and technical difficulties in connection with mining development or production activities.

- Uncertainties with respect to the quantity or quality of molybdenum that may be produced at the Robinson Mine.

- Uncertainties and costs related to Quadra's exploration and development activities, such as those associated with determining whether copper, gold, molybdenum or other mineral reserves exist on a property.

- Uncertainties related to feasibility studies and other studies that provide estimates of expected or anticipated costs, expenditures and economic returns from a mining project.

- Uncertainties relating to the availability of adequate water resources for mining and milling operations.

- Uncertainties related to the ability to obtain and retain necessary licenses, permits, electricity, surface rights, water rights and title for mining projects and project delays due to third party opposition such as:

- uncertainty surrounding our ability to successfully appeal the decision of the 9th Circuit Court to vacate a discharge permit granted for the Carlota Copper Project, or alternatively to replace this permit or revise the design for the project in order to eliminate the requirement for the permit.

- Uncertainties in obtaining additional financing that may result in delay or postponement of development projects or even a loss of the mineral property interest.

- Uncertainties related to the future development or implementation of new technologies, research and development and, in each case, related initiatives and the effect of those on our operating performance.

- Uncertainties related to judicial or regulatory proceedings.

- Changes in, and the effects of, the laws, regulations and government policies affecting our mining operations, particularly laws, regulations and policies relating to:

- mine expansions, environmental protection and associated compliance costs arising from exploration, mine development, mine operations, reclamation and mine closures;

- expected effective future tax rates in jurisdictions in which our operations are located;

- the protection of the health and safety of mine workers; and

- mineral rights ownership in countries where our mineral deposits are located.

- Changes in general economic conditions, the financial markets and in the demand and market price for copper, gold, molybdenum and other minerals and commodities, such as diesel fuel, petroleum, steel, concrete, electricity and other forms of energy, mining equipment, operating supplies including truck tires, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar, concentrate and transportation charges.

- The effects of derivative instruments to protect against fluctuations in copper, gold, molybdenum and other metal prices and exchange rate movements and the risks of counterparty defaults, and mark to market risk.

- Unusual or unexpected formations, seismic activity, cave-ins, flooding, pressures, pit wall failures and other similar incidents (and the risk of inadequate insurance or inability to obtain insurance to cover these risks).

- Changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates.

- Environmental issues and liabilities associated with mining including processing and stock piling ore.

- Geopolitical uncertainty and political and economic instability in countries which we operate.

- Labour strikes, work stoppages, or other interruptions to, or difficulties in, employing and retaining labour in markets in which we operate mines, or extreme weather conditions, environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt the production of minerals in our mines or interrupt the delivery of our product to customers.

- Quadra's reliance on a single producing property.

- Uncertainties relating to acquisitions, including whether the recently acquired Malmbjerg molybdenum project can be brought into production.

- Breaching covenants and undertakings contained in debt facility agreements could result in a significant loss to Quadra.

A discussion of these and other factors that may affect Quadra's actual results, performance, achievements or financial position is contained in the filings by Quadra with the Canadian provincial securities regulatory authorities, including Quadra's Annual Information Form. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Quadra disclaims any intent or obligations to update or revise publicly any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise.

ABOUT QUADRA MINING LTD. (TSX:QUA)

Quadra is a British Columbia corporation based in Vancouver and is a mining company whose principal assets are the Robinson Mine in Nevada, producing copper and gold, the Carlota copper leach project under construction in Arizona, the Sierra Gorda advanced exploration copper-molybdenum project in Chile and the Malmbjerg molybdenum development project in Greenland. The Company has the goal of becoming a mid-tier base metals development and operating company with interests in a number of advanced exploration, development and producing properties.



For more information, please contact

Quadra Mining Ltd.
Derek White
[phone], Ext. 307
Email: [e-mail]

or

Quadra Mining Ltd.
Paul Blythe
President & CEO
[phone]
Email: [e-mail]
Website: www.quadramining.com
Click here to see all recent news from this company
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1-800-774-9473 (US) | 1-888-299-0338 (Canada) | [phone] (UK)

[Videomart]

Quadra Mining on a run - Just don't tell anybody

Quadra Mining- Mid Term Target $35

Why should one be able to buy a $35 stock for less?? Several people looked at me like I was guy who just escaped from Central Park Zoo when I talked about $5 copper last year. I am used to it and always enjoy the happy end. If I wanted to advance the industrialization process of a nation with 1.4 billion people I would have finalized the aquisition of Quadra already. Much cheaper than paying spot price. Hey that would be another 350 million pounds of molybdenum.. We are getting there. How much molybdenum is controlled by China and how many molybdenum exploration companies are out there in North America????


http://www.stockhouse.com/blogs.asp?page=viewpost&blogID=919…

[Statistix]

Wird spannend ob man das Tempo halten kann. Hängt wohl viel von Robinson ab.

[Statistix]

Antwort auf Beitrag Nr.: 34.038.127 von Statistix am 06.05.08 16:02:46

Hab heute meine Quadra mit Abschiedsschmerz verkauft. Viel Spaß noch allen hier.

[Videomart]

Wire: BLOOMBERG News (BN) Date: 2008-06-20 21:04:09
Mercator Is Worth Double Current Price, Chief Says (Update1)

By Stewart Bailey

June 20 (Bloomberg) -- Mercator Minerals Ltd. said potential acquirers including Thompson Creek Metals Co.
and Quadra Mining Ltd. would have to pay as much as $2 billion,more than double the current market value, to successfully takeover the company.
Thompson Creek, based in Toronto, and Vancouver-based Quadra are the ``obvious'' candidates to try to acquire Mercator, Chief Executive Officer Michael Surratt said yesterday in a telephone interview from Kingman, Arizona, where the company is based. The company would cost ``$1.5 billion to $2 billion,'' he said.

Mercator, like larger competitors Thompson Creek and Freeport McMoRan Copper & Gold Inc., is racing to tap molybdenum deposits to exploit a fivefold surge in prices since 2003. The metal, used to toughen steel for drill bits and pipelines, is in increasing demand as crude oil trades at record levels.
``If someone wants to walk in and give us $20 or $25 a share, we'll have to ask our shareholders,'' said Surratt, who added the company is not in any sale negotiations. ``I think it'll take that kind of money to do it.''

Mercator rose 12 cents, or 1 percent, to C$11.78 at 4:10 p.m. in Toronto Stock Exchange trading, giving the company a market value of about C$879 million ($865 million). The shares have gained 43 percent in the past year.
Mercator's Mineral Park mine in Arizona is scheduled to begin production in October and produce 10.3 million pounds of molybdenum and 56 million pounds of copper a year.

`Long-Life Asset'

``Anytime you have a long-life asset that's fully permitted, a mining company has to look at it,'' said Ron Coll, an analyst at Jennings Capital Inc. in Toronto. ``It's awfully attractive to a lot of major mining companies and we're likely to see a transaction before the end of 2008.''

While Quadra and Thompson Creek are ``logical'' acquirers, there are others that may be interested in buying Mercator for
exposure to molybdenum, Coll said in a telephone interview.
Linda Martineau, a spokeswoman for Thompson Creek, said today that ``executives are reviewing possible acquisitions but don't comment on specific companies.'' Sophie Taylor, a spokeswoman for Quadra, would not comment.

Mercator's share price should increase to about $20 as Mineral Park starts production, Surratt said. That target is higher than the $14.35-a-share average forecast of four analysts surveyed by Bloomberg. All four rate the shares ``buy.''

Molybdenum trades at $32.88 a pound, according to data provided by Metal Bulletin. The metal from the mine will be produced at a cost of $5.50 a pound and will be sold by U.K.-
based Derek Raphael & Co. Ltd.
A contract for the sale of the mine's copper will be concluded early next month, Surratt said, without naming the buyer.
Mineral Park will have earnings before interest, tax, depreciation and amortization of $450 million a year, Surratt
said.

--Editors: Steven Frank, Steve Stroth.

To contact the reporter on this story:
Stewart Bailey in New York at [phone] or
[e-mail].

To contact the editor responsible for this story:
Kevin Orland at [phone] or [e-mail].

[Videomart]

[Videomart]

Tue Jun 10, 2008
Quadra Repays First Lien Debt Facility

--------------------------------------------------------------------------------

Vancouver, Canada -- June 10, 2008. Quadra Mining Ltd. ("Quadra" or "the Company") (QUA.TSX) announces that the Company's wholly owned subsidiary, Robinson Holdings (USA) Ltd has paid US$154.6 million dollars to retire its first lien debt. The repayment amount includes a premium and accrued interest above the principal amount of US $150 million.

About Quadra Mining Ltd. (TSX: QUA)
Quadra is a British Columbia corporation based in Vancouver and is a mining company whose principal assets are the Robinson Mine in Nevada, producing copper and gold, the Carlota copper leach project under construction in Arizona, the Sierra Gorda advanced exploration copper-molybdenum project in Chile and the Malmbjerg molybdenum development project in Greenland. The Company has the goal of becoming a mid-tier base metals development and operating company with interests in a number of advanced exploration, development and producing properties.

[RayNar]

Noch jemand dabei hier?

Will bis Ende des Jahres einsteigen: KGV von 4, mit über 200 Mio Cash noch weniger, neue Mine startet bald. Hört sich fast zu gut an, um wahr zu sein. Hängt wohl nur an Kupfer und weltweite Nachfrage, firmenintern ist ja alles klar.

[Popeye82]

[RayNar]

Kupferbestände steigen an der LME um 10 Prozent
05.09.2008 - London (www.rohstoffe-go.de) Wie die London Metal Exchange heute mitteilte, sind die Lagerbestände von Kupfer an der LME in dieser Woche um 10 Prozent auf 200.875 Tonnen gestiegen. Dies ist der stärkste prozentuale Anstieg seit August 2005. Der Lagerbestand liegt damit so hoch wie seit dem 8. Januar 2008 nicht mehr.

Der Kupferpreis korrigiert aktuell in London um 2,6 Prozent auf 7.048 USD/Tonne.



Aufgepasst:

Laut letztem Quartalsbericht sind die Kosten pro produzierter Tonne Kupfer durch das Nebenprodukt Gold noch weiter auf unter 1 Dollar/Pfund gefallen, bei Preisen von momentan 3,19 $/Pfund (Umrechnung dank Google). Die Kosten pro verkaufter Einheit sind leider nicht angegeben, die werde ich jetzt nicht berechnen.

[RayNar]

Die Umrechnung hätte ich mir sparen können



Kosten:
Robinson ca 1$/lb
Carlota 1,5 $/lb

Robinson wird also nahezu 100% immer im Gewinn bleiben, das Nebenprodukt Gold senkt die Kosten stark.
Bei Carlota werden keine Nebenprodukte angegeben, Kosten sind geschätzte 1,5

[RayNar]

Gab zwei Insiderkäufe:

Sep 18/08 Sep 11/08 Selby, Mark Thomas Henry Direct Ownership Common Shares 10 - Acquisition in the public market 1,000 $12.376

Sep 12/08 Sep 05/08 Blythe, Paul Marcus Direct Ownership Warrants broker 10 - Acquisition in the public market 20,000 $2.340

[RayNar]

Produktionszahlen vom 3.Quartal:

http://www.marketwire.com/press-release/Quadra-Mining-Ltd-TS…

Produktionsschätzungen wurden getroffen, bei leider geringeren Preisen für Kupfer und Gold. Zahlen kommen am 4. November, dann wissen wir mehr, also wie niedrig das KGV tatsächlich ist.

Die 2. Mine Carlotta geht auch langsam in Produktion.

[RayNar]

Zahlen vom 3.Quartal:

http://www.marketwire.com/press-release/Quadra-Mining-Ltd-TS…

Interessant zu lesen. Exploring-Aktivitäten werden 2009 zurück gefahren, um das Cash-Polster von 266 Mio zu bewahren. Keine Schulden vorhanden, Cash beträgt 76% der Marktkapitalisierung!

Gewinn pro Aktie 0,31 CAD

Förderkosten konnten weiter gesenkt werden

usw. usw.

[RayNar]

Annualisiertes KGV dieses Quartals: 4,5

Cashbereinigt könnt ihr euch selber ausmalen, 24% * 4,5 = ...

[Videomart]

Quadra cutting back on projects as earnings dive with commodity prices

The fall in commodity prices and tight credit has led Quadra Mining to halt work at its Sierra Gorda copper project in Chile and its Malmbjerg molybdenum project in Greenland as it reports lower 3Q earnings

Posted: Wednesday , 05 Nov 2008

TORONTO (Reuters) -
Quadra Mining (QUA.TO) said on Tuesday its third-quarter profit fell 59 percent as weaker copper prices eroded revenue and prompted the Canadian producer to halt its two development projects and suspend production forecasts beyond 2008.

Net income was $20.1 million, or 30 cents a share, down from $48.8 million, or 86 cents a share, in the year-before period.

Quarterly revenue fell to $116 million from $134.6 million as the impact of lower copper prices more than offset output that rose 26 percent to 38.6 million pounds, and gold production that climbed 27 percent to 30,629 ounces.

The revenue figure included negative pricing adjustments of $64.4 million for the second and third quarters due to the practice of pricing copper sales about four months after shipment.

Copper has fallen nearly 50 percent since the beginning of July, while gold prices were up year-over-year in the third quarter, but have retreated 14 percent since the end of the quarter.

The recent price declines, combined with tight credit markets, have prompted several miners to halt projects or suspend mines, and Quadra said on Tuesday it would stop work at its Sierra Gorda copper project in Chile and its Malmbjerg molybdenum project in Greenland.

"Clearly, the current metal price environment will have an impact on Quadra going forward," Quadra Chief Executive Paul Blythe said in a statement.

"This sharp decline in the copper price is an unexpected outcome, and one that has led to a full review of our plans for 2009 and beyond."

He said the review would likely be completed by the end of November, and until then, the company will not provide production forecasts beyond this year.

For the remainder of 2008, however, Quadra expects to meet or exceed its production expectations of 150 million pounds of copper and 115,000 ounces of gold.

Quadra mines primarily from its Robinson mine in Nevada, and recently announced the opening of its Carlota mine in Arizona.

The company's shares initially weakened on Tuesday, but then pushed higher and were up 58 Canadian cents, or 10.4 percent, at C$6.14, moving in line with Toronto-listed base metals producers.


http://www.mineweb.net/mineweb/view/mineweb/en/page34?oid=72…

[RayNar]

UPDATE 1-RESEARCH ALERT-UBS cuts Quadra mining to sell


Nov 5 (Reuters) - UBS downgraded Quadra Mining (QUA.TO: Quote, Profile, Research, Stock Buzz) to "sell" from "neutral" on Wednesday, a day after it posted a lower third-quarter profit as weaker copper prices eroded revenue and prompted it to halt two development projects and suspend production forecasts beyond 2008.

UBS, which also cut its price target on the company's stock by 50 Canadian cents to C$5.00, expects a fourth-quarter loss of 42 cents a share at the company, if spot copper prices remain weak.

Quadra said on Tuesday the sharp decline in copper prices -- which have fallen nearly 50 percent since the beginning of July -- was an unexpected outcome, and had led to a full review of the company's plans for 2009 and beyond.

The company said it would not provide production outlook beyond this year until the review was complete.

UBS said visibility on the future of the company's core Robinson mine beyond 2010 was uncertain, clouded by technical challenges.

Quadra Mining shares were trading down 42 Canadian cents at C$5.34 Wednesday morning on the Toronto Stock Exchange. (Reporting by Adveith Nair in Bangalore; Editing by Pratish Narayanan)

[RayNar]

Quadra Mining Ltd. (QUA CN): The copper mining company's biggest shareholder, Sprott Asset Management Inc., sold more than 4.2 million Quadra shares. The sale helped reduce the money manager's stake in the company by 6.6 percentage points to about 9.8 percent, Toronto-based Sprott said in a regulatory filing.

Quadra fell 9.2 percent to C$3.83. Sprott Inc. (SII CN), the parent of Sprott Asset, slid 5.4 percent to C$3.

[RayNar]

Ziele für 2009:
http://www.marketwire.com/press-release/Quadra-Mining-Ltd-TS…

Produktion wird leicht runtergefahren, Ausgaben reduziert.

[hadesitem]

in welche bereiche kann quadra mining wieder kommen???

[Martin12345]

Antwort auf Beitrag Nr.: 36.181.261 von hadesitem am 10.12.08 16:52:47

10 Cad bei Kupfer 2$/lb

Grüße
Martin

[hadesitem]

Antwort auf Beitrag Nr.: 36.181.440 von Martin12345 am 10.12.08 17:13:43

10 cad sin ca 6,... € das ist nicht schlecht

[mao_1]

Antwort auf Beitrag Nr.: 36.181.440 von Martin12345 am 10.12.08 17:13:43

Martin,

Du hättest dazu schreiben sollen, wann Du mit 2$/lb rechnest und ob Quadra dann noch existiert...

2$/lb braucht Quadra mindestens zwischen dem 2. Hj 09 bis in 2010, um dass die Cashreserven nicht angegriffen werden. Der Preistrend bei Kupfer ist nach wie vor fallend, genau wie die LME und COMEX-Lagerbestände weiter am steigen sind. Eine Chance liegt vielleicht in höheren Goldpreisen bzw. niedrigeren Dieselkosten.

[Martin12345]

Antwort auf Beitrag Nr.: 36.200.007 von mao_1 am 13.12.08 12:59:35

Hallo Mao,

Ich habe Quadra nur ein bißchen überflogen. Quadra gehört für mich zu den besseren Kupferproduzenten. Nebenbei haben Sie noch genug Kapital und was derzeit sehr wichtig ist, keine Schulden.

Ich weiß nicht wann die Trendwende bei Kupfer kommt und jeder schreibt etas anderes. Quadra würde aber enorm davon profitieren.

Ich schätze deine Kommentare und dein Wissen sehr. Was denkst Du, wie weit wird Kupfer noch fallen und wann kann es zu einer Trendumkehr kommen?

Grüße
Martin

[Martin12345]

Antwort auf Beitrag Nr.: 36.200.007 von mao_1 am 13.12.08 12:59:35

Dieser Artikel hat mich auch beeinflusst.



Endingen (aktiencheck.de AG) - Nach Meinung der Experten von "Hot Stocks Investor" sehen in der Aktie von Quadra Mining (ISIN CA7473191012/ WKN A0CAB6) ein sehr aussichtsreiches Investment.

Die Analysten von Raymond James würden in den kommenden 6 bis 12 Monaten von einer Kursversechsfachung ausgehen. So hätten sie vergangenen Dienstag bei Kursen von 3,30 USD ein Kursziel von 21 USD ausgeflaggt. Die Details der Story würden sich mehr als spektakulär lesen. Das Unternehmen produziere bereits Gold und Kupfer in der Robinson Mine in Kanada. Die Kupferproduktion in Globe, Arizona laufe gerade an. Die beiden noch in den Kinderschuhen steckenden Kupfer- bzw. Molybdän-Projekte in Chile und Grönland würden weiter vorangetrieben.

Das Unternehmen habe keinerlei Schulden und werde per Jahresende nach Ansicht der Experten sogar auf einem Cash-Berg von 125 Millionen USD sitzen. Dieser decke alleine 70% der aktuellen Marktkapitalisierung von 180 Millionen USD ab.

Für 2008 werde der Konzern voraussichtlich einen leichten Umsatzanstieg auf 515 Millionen USD und einen Gewinnrückgang auf 1,76 USD je Aktie melden. Damit werde das Unternehmen mit einem KGV von weniger als 2 bewertet. Im kommenden Jahr würden die Analysten von Raymond James wegen der Produktionsaufnahme in Arizona mit einem Umsatzanstieg auf 626 Millionen USD und einem Gewinn je Aktie von 4,04 USD rechnen. Damit würde das KGV auf 0,7 zurückfallen. Wenn man von der Marktkapitalisierung noch den Cash-Bestand abziehe, stehe einer Bewertung von 55 Millionen USD ein erwarteter Gewinn von 260 Millionen USD gegenüber. Daher sei es nicht verwunderlich, dass Raymond James der Aktie bis Ende 2009 ein Erholungspotenzial von über 500% zubillige. Die Jahreshochs der Aktie hätten bei 26 USD gelegen.

Die Experten von "Hot Stocks Investor" sehen in der Aktie von Quadra Mining ein sehr aussichtsreiches Investment. (Ausgabe 23 vom 08.12.2008) (08.12.2008/ac/a/a) Analyse-Datum: 08.12.2008

[mao_1]

Antwort auf Beitrag Nr.: 36.200.299 von Martin12345 am 13.12.08 14:57:55

Martin,

Kann ich dir leider nicht sagen, wann der Markt wieder drehen wird. Historisch betrachtet waren die LME-Lagerbestände vor 5 Jahren immerhin noch doppelt so hoch wie heute und der Kupferpreis die Hälfte billiger, für einen Zeitraum von 2 Jahren wohlgemerkt. Wenn das eintritt, werden viele Unternehmen richtige Probleme bekommen.

Gruss
Mao

[Videomart]

Chile Codelco sees copper market normalizing in 2011
(Reuters)
Updated: 2008-12-16 10:38

The supply and demand dynamic of copper should normalize around 2011, the chief executive of Chile's state copper giant Codelco, the leading world producer, said Monday.

"We are going to face a complex period," Jose Pablo Arellano told hundreds of subcontract miners at a conference in the Chilean capital of Santiago.

He said prices for copper, Chile's main export, would only stabilize once the global financial crisis eases.

"In 2011, we will see prices normalize at levels above long-term trends, not at $4 a lb, but at levels above long-term prices," Arellano said. He did not say what he meant by long-term trends and prices.

Strong prices, driven by limited supplies and booming Asian demand, helped push Chile's trade surplus to record levels in recent years.

But the price of the metal has plunged on world markets in recent months, prompting the central bank to scale back its economic growth forecasts. Copper prices have more than halved since record levels of over $4 per lb in July as a global slowdown hit demand.

The central bank last month cut its economic growth forecast for 2009 to between 2.0 and 3.0 percent from 3.5 to 4.5 percent, citing the spiraling global financial crisis and plunging prices for copper, its chief export.

It then also cut its estimated average copper price for 2009 by nearly half, to $1.65 per lb from the $3.10 a lb it had estimated in September.


http://www.chinamining.org/News/2008-12-16/1229395167d20208.…

[Videomart]

WORLD COPPER MARKET REVIEW
(Week of 8-12 December 2008)
http://www.kitco.com/reports/cochilco_dec122008.pdf

[Videomart]

Copper Tumbles to Lowest Since January 2005 as Demand Dwindles

By Millie Munshi

Dec. 17 (Bloomberg) -- Copper prices fell to the lowest in almost four years on concern that the deepening global recession will reduce metal demand through next year.

Confidence in the world economy fell in December as the economic contraction spread, a survey of Bloomberg users on six continents showed. Copper supplies outpaced demand by 30,600 metric tons in the 10 months ended Oct. 31, the World Bureau of Metal Statistics said today. The metal is down almost 55 percent this year, heading for a record annual decline.

“There is no doubt that the outlook for metals demand over the next few quarters is grim,” analysts at Barclays Capital said in a report today. “Copper is the metal we would identify as having the furthest downside potential from current levels.”

Copper futures for March delivery dropped 0.6 cent, or 0.4 percent, to $1.3725 a pound at 12:19 p.m. on the Comex division of the New York Mercantile Exchange. Earlier, the price touched $1.3285, the lowest since Jan. 4, 2005.

“Base metals are going to suffer for at least another year with the economy,” Gijsbert Groenewegen, a fund manager at Gold Arrow Capital Management in New York, said yesterday. “It’s not going to be a pretty next couple of months.”

Climbing copper inventories have pointed to sagging demand. Stockpiles monitored by the London Metal Exchange added 1 percent to 321,900 metric tons today. Supplies tallied by the LME are up 63 percent this year.

Copper demand will lag behind production next year and the market will have a surplus of 144,000 tons of metal, Barclays forecast. That compares with an estimated shortfall of 60,000 tons in 2008, the bank said.

Currency Supports Copper

Still, copper pared declines today as the dollar plunged against the euro, spurring demand from investors seeking alternative assets, said Ron Goodis, a retail-trading director at Equidex Brokerage Group Inc. in Closter, New Jersey.

“If the weakness in the dollar continues, it may spark a rally for all these commodities,” Goodis said. “Copper might be a follower.”

The euro gained as much as 3.1 percent against the dollar today, to $1.4437.

Copper may get a boost in the long-term as mining companies, faced with declining profits, curb production and limit supplies, Goodis said.

Anglo American Plc today cut planned investment by more than half as a rout in metals prices thwarted its $45 billion expansion program. The company joins Rio Tinto Group and Freeport-McMoRan Copper & Gold Inc., the world’s biggest publicly traded copper producer, in taking steps to reduce output and trim expansion.

On the London Metal Exchange, copper for delivery in three months dropped $40, or 1.3 percent, to $3,030 a metric ton ($1.37 a pound). The price reached a record $8,940 on July 2.


http://www.bloomberg.com/apps/news?pid=20601012&sid=ayGb_kD7…

[Videomart]

Thu Dec 18, 2008
Quadra Mining Harvests First Copper Cathodes At The Carlota Project

Vancouver, Canada - December 18th, 2008. Quadra Mining Ltd. (QUA:TSX) ("Quadra" or "Company") is pleased to announce the first production of cathode copper at its second copper mine in the south west US, the Carlota project in Globe/Miami, Arizona. The commencement of operations at the SX-EW facility marks the completion of the construction/development phase of the project and the operations team will now focus on ramping up production.

All copper produced at Carlota will be sold under off-take agreements, with pricing based on COMEX.

Paul Blythe, President & CEO comments, "With the successful start-up of the SX-EW facility and the first harvest of copper cathode, Quadra has completed the development phase of the Carlota copper project and is now officially in production. We are now focused on maximizing the operating efficiencies of the plant. As previously announced, cathode copper production is expected to be approximately 50 million pounds in 2009 due to the lower head grades as per the mine plan and to rise to the nameplate annual production rate of 70 - 75 million pounds in 2010."

Paul Blythe concludes, "We are very pleased with the way this project has been developed. Despite the many challenges that faced the industry during the past couple of years with higher cost inputs and lower available equipment and people, an outstanding management team have brought this mine -- our second operation in the south west US -- into production on schedule and on budget."

http://www.quadramining.com/s/News.asp?ReportID=332255&_Type…

[Videomart]

[Videomart]

[Videomart]

China launches metal stock build with first indium buy
Fri Dec 19, 2008 5:58am EST
(Recast with more metals)

By Polly Yam

HONG KONG, Dec 19 (Reuters) - China launched its drive to dramatically expand government metal stockpiles this week, buying indium for the first time ever and starting negotiations to add to zinc and aluminium inventories, sources said on Friday.

The campaign may gather pace in the coming days as the State Reserves Bureau, which is responsible for buying and managing the country's metals reserves, aims to soak up domestic surpluses and keep Chinese smelters operating as a sharp economic slowdown quashes demand.

The SRB bought 30 tonnes of indium -- a minor metal used in making LCD screens -- from a large Chinese smelter on Wednesday, a trade source familiar with the deal said on Friday. China is the world's top producer of indium, a by-product of zinc output.

Smelter officials said the SRB is expected to start buying zinc and aluminium soon from Chinese smelters and the domestic spot market, given prices were touching the bottom. That spurred growing speculation that copper could be next.

"The SRB has informed smelters of the (zinc) buying plan," an official at a large zinc smelter said. "We understand that the SRB plans to buy 300,000 tonnes."

The indium deal, a first for the SRB, represents the equivalent of about 6 percent of the 510 tonnes of global indium output last year, figures from the U.S. Geological Survey showed. Spot indium in Shanghai traded at about 2,000 yuan a kg, or about 2 million yuan per tonne on Friday.

The SRB is expected to buy more indium from smelters or the domestic spot market in coming weeks, the source said.

Top zinc smelters Zhuzhou Smelter (600961.SS) and Huludao Zinc 000751.SZ are also the two biggest indium producers in the country.

Zinc is up next, potentially bringing relief to smelters who have failed to shore up prices since they began cutting production since October. But demand has fallen even quicker, causing a commercial inventories to rise as high as 300,000 tonnes, nearly one month's production in the world's top producer.

"The plan has been kicked off," the source said. "Smelters are entering into a stage of signing contracts (with the SRB)."

The National Development and Reform Commission, which controls the SRB, is believed to have agreed to buy primary aluminium from smelters in principle, industry sources said.

The state planner has requested large aluminium smelters to enlarge their production cuts to help trim the surplus, in return the SRB could buy between 1 and 2 million tonnes of metal in coming months, a smelter official said.

About 1.4 million tonnes of primary aluminium are estimated to be sitting at private and public warehouses and smelters' yards, smelter officials and traders have said.

The stocks may rise to 2 million tonnes in February, given the weaker demand in January as many end-users close or slow production during the Chinese New Year, which falls on Jan 26.

Copper may be the next metal the SRB would buy, given the surplus is smaller than zinc and aluminium, while a copper smelter source said such purchase, if proceeded, could reach at least 700,000 tonnes. He added 400,000 tonnes of the total might come from Jiangxi Copper (0358.HK)(600362.SS).

Pan Qifang, Jiangxi Copper's spokesman, said the largest copper producer in China had not received a written request for the state buying, but encouraged the central government to buy copper as the country was short of the resource.

"We believe now is the good time to buy copper," Pan told Reuters on Friday. "The buying should come from imports."

A director at the trade department of Yunnan Tin 000960.SZ, the country's top tin producer, said the firm was working on submitting information to the central government's plan to buy metals reserves from smelters. (Editing by Jonathan Leff)

http://www.reuters.com/article/marketsNews/idAFHKG3646542008…

[Videomart]

[Videomart]

MORE ROBUST SHORT TERM THAN EXPECTED
Chinese copper imports may be rising defying market belief

Detailed analysis of Chinese import statistics suggest that all is not what they have been believed and imports of copper are stronger than the market has suggested.

Author: Andy Home
Posted: Thursday , 18 Dec 2008

LONDON (Reuters) -

The strength of Chinese copper imports in November seems to have defied market expectations, for the second month running.

However, the arbitrage between Shanghai and London remained positive for imports last month and that is still the case this month.

Moreover, China's continued appetite for refined copper suggests a more complex dynamic than the simplistic "doom and gloom" view of events in the local market.

IMPORTS ACCELERATE

The first snapshot of China's trade figures in November suggested that refined copper imports actually fell month-on-month.

The preliminary report aggregates imports of refined metal, alloy, anode and products. November's 217,214 tonnes were 6.0 percent off the pace of October.

However, the second, more detailed breakdown of November trade showed that the decline overly reflected a sharp fall in imports of copper products, which fell to 58,618 tonnes in November from 74,900 tonnes in October.

Imports of refined metal, alloy and anode were 158,600 tonnes and, assuming that monthly trade in alloy and anode didn't deviate too far from the average rate of the previous 10 months, imports of refined metal alone were probably around 138,000 tonnes.

If this figure proves to be correct it will be the highest monthly total so far in 2008.

How do we square such strong copper imports with accumulating evidence of a sharp slowdown in Chinese manufacturing output?

WINDOW STILL OPEN

The mechanics of continued robust inflows of refined copper to China are relatively straightforward.

Shanghai spot copper traded at a premium to London during much of November, keeping the arbitrage window open.

That will have encouraged opportunistic flows of metal into China. Many local players view an import-friendly arbitrage as nothing much more than a fast way of raising cash in dollars.

Such players will continue to capitalise on the London-Shanghai differential as long as it exists, which it still does. Unlike the London Metal Exchange (LME contract, which is in contango, the Shanghai Futures Exchange (SHFE) nearby copper curve remains heavily backwardated, keeping spot prices higher than LME prices.

The backwardation, in turn, is a result of depleted SHFE stocks. At 16,297 tonnes they are still very low by historical standards. The SHFE's recent volatility, resulting in short positions being prematurely closed out on a couple of occasions, has disrupted the functioning of the market and probably acted to hinder a sustained stock rebuild.

As such, SHFE stocks may not be as good a barometer of the overall stocks picture in China as desired.

That said though, there is little anecdotal evidence of the sort of off-market stocks build that is plaguing the Chinese zinc and aluminium sectors right now.

FALLING PRODUCTION

Mitigating against a sizeable build in Chinese stocks of copper has been the recent trend in domestic production of the red metal. Official figures for November showed national production of refined copper rising to a five-month high of 330,200 tonnes.

However, behind the headline figure was a continuation of the recent weak trend in national production. November output was below the year-earlier level for the second consecutive month and for the third time in the last four reported months -- August through November.

Cumulative production growth slowed to just 9.6 percent, after running at closer to 20 percent in the second quarter.

That's a sharp slowdown. Growth is now at multi-year lows and it shows every sign of decelerating further, particularly with smelters caught in the vice of low prices for their product and the high cost of imported raw materials.

China, remember, is highly dependent on imports of copper concentrate to produce refined metal. Although spot concentrate terms have moved in the smelters' favour over the last couple of months, preliminary talks with international miners on 2009 terms have got nowhere, the smelters balking at what they view as an aggressive stance by the other side.

COMPLEX CONSUMPTION

Moreover, although there is no doubt that Chinese economic growth is slowing rapidly enough to cause serious concern to Beijing, it is by no means a uniform picture.

Firstly, there are big differences between specific copper-industry sectors. Any sector dependent on exports is suffering, but those, such as power cable manufacturers, which are more dependent on the domestic market, are said by locals to be buying copper against future orders.

Beijing's accelerated stimulus package, boosting infrastructure spending, will likely accentuate this divergence in the coming months.

Secondly, the Chinese industrial sector has not yet fallen off the cliff in quite the same way as has happened in most of the developed world.

Headline industrial production growth fell to 5.4 percent year-on-year in November from 8.2 percent. But UK analysts CHR Metals make the useful point that seasonally adjusting the figures shows that output actually grew by 1.1 percent in November after plunging by 4.6 percent in October.

"There may well be some sleight of hand in the presentation of the headline IP data but we take some heart from the fact that October's panic, which prompted severe cuts across a range of industries, did not herald even more drastic cutbacks in November," CHR said in its most recent "Global IP Watch".

That's not to understate the problems facing either the Chinese economy as a whole or the local copper sector specifically, but it is to emphasise that there is still an element of resilience on the consumption side, which will be a net positive until the impact of the government's stimulus package kicks in next year.

In short, China's refined copper imports look set to remain more robust in the very short term than widely expected and there are solid reasons for believing that we are not seeing a one-dimensional relocation of surplus metal from the international to the Chinese market place.

(Editing by Karen Foster)


http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=75…

[Videomart]

Copper Drops to Lowest Since October 2004 as Inventories Climb
By Millie Munshi

Dec. 18 (Bloomberg) -- Copper tumbled to the lowest price in more than four years as metal inventories climbed, signaling waning demand during the global recession.

Stockpiles monitored by the London Metal Exchange rose 0.7 percent today to 324,175 metric tons, the highest level since Feb. 12, 2004. Supplies have surged 64 percent this year. Global copper production exceeded demand by 30,600 tons in the 10 months ended Oct. 31, the World Bureau of Metal Statistics said yesterday. The price has dropped 57 percent in 2008.

“Demand concerns are overriding,” Edward Meir, an analyst at MF Global Ltd. in Darien, Connecticut, said in a report. The drop today is “attributable to rising LME stock levels,” he said.

Copper futures for March delivery dropped 7.15 cents, or 5.2 percent, to $1.3015 a pound on the Comex division of the New York Mercantile Exchange. Earlier, the price touched $1.296, the lowest for a most-active contract since Oct. 29, 2004.

The metal extended losses after a report showed the index of leading U.S. economic indicators fell in November, underscoring economists’ projections that the current U.S. recession will be the longest in the postwar era.

“There’s just no demand out there now,” said Michael Gross, an analyst at OptionSellers.com in Tampa, Florida. “With every economic report that comes out, it just feels like there’s no light at the end of the tunnel. Things are just getting bleaker and bleaker.”

Automakers, Builders

Copper is poised for the biggest annual decline ever after demand by manufacturers, automakers and builders plunged. General Motors Corp., Ford Motor Co. and Chrysler LLC will shutter about 59 factories over the next month amid the lowest sales in 26 years.

Copper may fall below $1 in 2009, Gross said. The last time copper traded at that level was in December 2003.

“Demand will be down substantially,” Gross said. “It’s very realistic that we could go back 50 cents and be near those levels. We’ve already come down so far so fast. At this rate, it won’t take long to approach those lows.”

On the LME, copper for delivery in three months dropped $140, or 4.6 percent, to $2,880 a metric ton ($1.31 a pound). The price reached a record $8,940 on July 2.


http://www.bloomberg.com/apps/news?pid=20602013&sid=a4apopwX…

[Videomart]

Neues Jahr, neues Glück...


Copper prices jump to three-week high
Chris Kelly | January 03, 2009
Article from: Reuters

US copper futures closed at a 3-week high on the first trading day of the year.

The rally was fuelled by broad-based gains in the London base metals complex and a firmer tone in the price of crude oil.

Copper for March delivery rose US5.10 cents, or 3.6 percent, to end at $US1.4610 a pound on the New York Mercantile Exchange's COMEX division, its highest closing level since December 11.

The session ranged from $US1.3715 to $US1.4850.

The benchmark March contract is up more than 16 per cent from last week's plunge to $US1.2550 - a low dating back to October 2004 on a continuation basis.

Copper extended a two-day rally amid some end-of-quarter index rebalancing that helped drive a 16 per cent rally in London nickel futures and an almost 9 per cent surge in the price of tin.

London Metal Exchange copper for three months delivery ended up $US171 at $US3231 a tonne, after dealing in a session range between $US3025 and $US3265.

Once a year commodity index compilers recalculate the weightings for the individual commodities in their indexes. The re-jigging early this month will fuel volatility and allow traders to make easy profits in the energy, metals, grains and livestock sectors.

Additional upside momentum in the red metal was seen from stronger tone in energy markets, analysts said.

Oil gained more than 3 per cent in response to rising tensions in the Middle East and a dispute between Russia and Ukraine over natural gas supplies.

Copper’s strength bucked grim economic data showing US factory activity drop to a 28-year low in December.

The Institute for Supply Management said its index of national factory activity fell to 32.4 - the lowest since 1980 - from 36.2 in November.

Edward Meir, metals analyst with MF Global, said the gains in copper will likely recede over the course of next week when participants return from holidays and conclude that the macro landscape looks depressingly unchanged from where they left it.

London Metal Exchange-monitored copper warehouse stock levels rose by 775 tonnes, bringing total inventory levels to a near-5-year high at 340,550 tonnes.


http://www.theaustralian.news.com.au/business/story/0,28124,…

[Videomart]

[Videomart]

RE-EXPORT REQUIREMENT
China drops taxes on copper, cobalt and nickel concentrate imports

China will allow tax-free imports of copper, nickel and cobalt concentrate from Feb. 1, as long as the finished products are re-exported, and will also allow duty-free exports of refined copper, unwrought nickel and semi-finished aluminium products.
Posted: Monday , 05 Jan 2009

HONG KONG (Reuters) -

China will allow tax-free imports of copper, nickel and cobalt concentrate from Feb. 1, as long as the finished products are re-exported, a statement on the Ministry of Commerce's website (www.mofcom.gov.cn) said, reversing a two-year old policy of taxing these flows.

China will allow duty-free exports of refined copper, unwrought nickel, semi-finished aluminium products such as profiles, rods, bars and billets, and cobalt powder.

The move could increase China's exports of copper and nickel and imports of primary aluminium, traders said.

The policy will allow smelters such as Jiangxi Copper (0358.HK)(600362.SS) to import concentrates duty-free as long as they export the finished product.

Copper concentrate imports are currently subject to a 17 percent value-added tax, and exports of refined copper are taxed at 10 percent.

Pan Qifang, Jiangxi Copper's spokesman, said the policy would allow the firm to hedge imports of concentrate on the London Metal Exchange and to export refined copper if LME prices were higher than domestic market.

"The gap between LME and domestic prices would be narrowing," Pan told Reuters.

The duty-free policy would also reduce the cost of financing imports, which may boost small smelters' operations, he added.

The policy on exports of semi-finished aluminium products could increase imports of primary aluminium ingots for the manufacturing of such duty-free exports, traders and smelter officials said.

Exports of such products are also expected to rise.

"Fabricating plants will have another channel to sell their products," a trading manager at one large smelter said.

China is the world's top copper and aluminium consumer. (Reporting by Polly Yam; Editing by Michael Urquhart)


http://www.mineweb.co.za/mineweb/view/mineweb/en/page36?oid=…

[Videomart]

Copper leaps over 7% ahead of index re-jig
By: Reuters
Published on 6th January 2009

LONDON - Copper jumped more than 7% on Tuesday on buying ahead of an annual re-rating by major commodity indices, but the rally is expected to be short-lived as demand concerns remain.

The Dow Jones AIG annually recalculates the weightings for the individual commodities in its index and is set to raise the weighting for copper traded on the New York Mercantile Exchange's COMEX division. The rebalancing takes place from January 9 to 15.

"The arbitrage effect means that COMEX rallying significantly will also drag up (LME) copper," Leon Westgate, an analyst at Standard Bank, said. He added the reweighting impact will likely be temporary and he expects prices to come under pressure by the middle of January.

Three-month copper on the London Metal Exchange rose as much as 7,2% to $3 420/t, the highest level since December 4. It traded at $3 385/t at 11:01 GMT.

Copper for March delivery on COMEX is up over 16% from its December 26 session trough.

However, the weak outlook for global demand means metal prices are unlikely to hold on to any gains.

Mitsubishi Materials Corp said it won a roughly 70% hike in copper processing fees from Freeport-McMoran Copper & Gold, in what is believed to be the first fee rise won by a Japanese copper smelter for 2009.

"The smelters are cutting back and we are seeing capacity relative to availability of concentrates has fallen so TC/RCs are popping up a bit," Westgate said. "This reflects the underlying demand concerns of the wider market."

Copper prices fell more than 50% in 2008 due to weakening global demand and rising inventories. Stocks in LME warehouses rose 1 450 t to 343 500, the highest level since February 2004.

"I don't think we'll see the start of a sustained recovery in prices until we see signs that the global economy is really on the path to recovery," Yingxi Yu, analyst at Barclays Capital in Singapore, said.

All the industrial metals were up, with aluminium rising as high as $1 605/t from $1 548 even as inventories continued to climb.

Aluminium stocks rose 11 875 t to 2,35-million tons, the highest in over 14 years.

INDEX RE-WEIGHTING

Nickel and zinc were lifted by the re-weighting of the major commodity indices.

The Dow Jones rebalancing will take place from January 9 to 15 and will be based on January 8 closing prices. The reweighting of the S&P GSCI will occur from January 8 to 14 and will be based on closing prices on January 7.

Nickel rose as high as $13 449/t from $12 850 and last traded at $13 315.

Zinc was at $1 310,25 from $1 300. It earlier hit $1 335/t, the highest price since October 15.

Lead was boosted by short covering, rising to $1 153 from $1 120.

Tin rose to $11 725 from 11 500/t.

Editor: Reuters


http://www.miningweekly.com/article.php?a_id=150220

[Videomart]

BASE METALS:
Short Covering Rally Ends For NY Copper Futures
Wed, Jan 7 2009, 19:00 GMT

By Matt Whittaker
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Copper futures gave back a sizeable chunk of recent gains Wednesday as participants returned their focus to bearish fundamentals, booked profits and ended the metal's short covering rally.

March copper fell 7.15 cents, or more than 4.5%, to settle at $1.5115 a pound on the Comex division of the New York Mercantile Exchange.

"The recent rally is just a bounce within an ongoing bear market," said Bill O'Neill, a principal with LOGIC Advisors.

After a "big run-up" on speculative short covering recently, "the (copper) market has run into some new selling," O'Neill said.

Thin trading conditions may have magnified the red metal's move, a trader said.

Economic data continue to look dismal, with private sector jobs falling 693,000 in the U.S, according to an employment report published by payroll giant ADP and consultancy Macroeconomic Advisers.

That is far more the 515,000 loss forecast in a Dow Jones Newswires survey and suggests big losses in Friday's nonfarm payrolls report from the Bureau of Labor Statistics.

Further, warehouse inventories continue to rise.

"Now we've returned to reality, and the fact is that the economy is in trouble," says Frank Lesh, broker and futures analyst with FuturePath Trading. "Stocks are built up incredibly. There's a lot of product out there, and demand is still weak."

Inventories of copper stored in London Metal Exchange warehouses rose 7,825 metric tons Wednesday, leaving them at 351,325. The most recent Comex inventory data, released late Tuesday, were up 21 short tons at 34,600 short tons.

"Overall, it's still pretty bleak out there," another trader said.

Copper settlements (ranges include electronic and pit trading):
March $1.5115; down 7.15 cents; Range $1.5020-$1.6225
May $1.5245; down 7.15 cents; Range $1.5165-$1.6350

-By Matt Whittaker, Dow Jones Newswires; 201-938-5959; [e-mail]

http://www.fxstreet.com/news/forex-news/article.aspx?StoryId…

[Videomart]

Codelco Expects $1 Billion From Chile in Copper Slump (Update2)

By Heather Walsh

Jan. 6 (Bloomberg) -- Codelco, the world’s largest copper producer by annual output, expects to receive $1 billion from the Chilean government and may sell debt to pay for expansion amid declining demand for the metal.

The cash from the government, and borrowing from banks or bondholders, would help the state-owned producer invest almost $2 billion in 2009, Chief Executive Officer Jose Pablo Arellano said today at a press conference. Codelco is preparing for a recovery in metal prices with the investment, he said.

“These are fundamental plans for future development,” he said in Santiago.

Codelco needs cash to finance spending after copper dropped 54 percent in 2008, slashing revenue. A slowdown in global demand for commodities and a credit freeze has led competitors such as Freeport-McMoRan Copper & Gold Inc. and BHP Billiton Ltd. to delay projects and pare investments.

“Companies that have taken advantage of this period to boost capacity will be the first to benefit when the cycle changes,” Pablo Correa, an analyst at Banco Santander Chile SA, said in a telephone interview today from Santiago.

Maintaining spending at Codelco is part of Chilean President Michelle Bachelet’s $4 billion plan to spur economic growth, tapping funds from copper proceeds built up when prices for the metal reached record highs last year.

Chilean Spending

Chile is among the nations that can afford to increase spending as the global economy flags, Chilean Finance Minister Andres Velasco said today. The country put aside $28 billion from surging copper revenue as the metal’s price more than quadrupled in the six years through 2007.

Prices have dropped as global economic growth slows to 0.9 percent this year from 2.5 percent in 2008, according to the World Bank.

Demand for commodities will stay weak at least through the first half of the year, said David Duarte, an analyst in New York at 4Cast Inc.

Even spending part of its copper windfall may not enable the Chilean economy to meet the government’s estimate for growth of as much as 3 percent this year, Duarte said. Chile’s economy expanded 0.1 percent in November.

“The fiscal stimulus will help,” he said in a telephone interview. “We don’t know how much.”

Unlike some exporters such as oil-producers Venezuela and Ecuador, Chile’s government ties its budget spending to the long-term outlook for commodities to guard against price swings.

Price Swings

Chile last year fixed spending as if copper traded at $1.37 a pound, even as the metal reached a record of $4.2605 a pound in May. Prices have since slumped 63 percent.

Copper futures for March delivery rose 12.4 cents, or 8.5 percent, to $1.583 a pound on the Comex division of the New York Mercantile Exchange today.

The market for the metal will remain “volatile,” Arellano said today. Codelco is developing projects to reduce costs as lower prices cut both profit and the company’s contributions to government revenue, he said. Codelco handed over $4.86 billion to the government in the first nine months of 2008.

Since 2007, the government has allowed Codelco to hold onto $1.2 billion of profit to help fund spending in addition to the new funding, according to a company statement distributed today.

Velasco said he expects Congress to approve the $1 billion for Codelco, which will be included in a bill that would add more directors with management experience at the company. The bill would eliminate a board seat now held by the Chilean military, which receives 10 percent of the company’s revenue.

Phoenix-based Freeport’s output surpassed Codelco’s production in the third quarter of last year, according to data on the companies’ Web sites. Codelco is the world’s largest copper miner by 2007 production.


http://www.bloomberg.com/apps/news?pid=20601110&sid=aqB7oNkD…

[Videomart]

Sprott Molybdenum Participation Corporation Announces Intention to Distribute Substantially All Assets

TORONTO, Jan. 9 /CNW/ - (TSX: MLY, MLY.WT) - Further to its press release
of December 10, 2008, Sprott Molybdenum Participation Corporation (the
"Corporation") announces that, in view of the unfavourable outlook for the
price of molybdenum and for issuers involved in the production and sale of
molybdenum, its board of directors has determined that a distribution to
shareholders of all or substantially all of the assets of the Corporation
would be in the best interests of the Corporation and its shareholders at this
time. The details on timing and specific execution steps are currently under
consideration and will be announced at a future date.
Net asset value of the Corporation on January 7, 2009 was $1.75 per share
of which $1.51 per share was held in cash and short term securities, net of
liabilities. At this point, the Corporation does not expect to make any
additional portfolio investments or purchases of molybdenum and plans to
liquidate its existing portfolio investments in an orderly manner, subject to
market conditions.


About Sprott Molybdenum Participation Corporation
-------------------------------------------------

The Corporation is an investment holding company created with the goal of
achieving capital appreciation by investing in securities of private and
public companies that explore for, mine and/or process molybdenum and by
investing in, holding, selling and otherwise transacting in all commercial
forms of molybdenum.

For further information: please contact Investor Services at
1-888-362-7172.

http://www.newswire.ca/en/releases/archive/January2009/09/c6…

[Videomart]

Mercator Announces Bought Deal Upsized to $20.0 Million
Fri Jan 9, 10:23 AM

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 9, 2009) - (figures in Canadian dollars)

Mercator Minerals Ltd. ("Mercator" or the "Company") (TSX: ML.TO) today announced that, in response to strong investor demand, it has upsized its previously announced bought deal of $15,000,020 (21,428,600 units) to $20,000,050 (28,571,500 units). Each unit ("Unit") is comprised of one common share (the "Common Shares") and one-half of one common share purchase warrant (the "Warrants"). Each whole warrant will entitle the holder to purchase one (1) Common Share of the Company at an exercise price of $1.00 for a period of 4 years following Closing. In addition, the Company has granted the underwriters an option to purchase up to an additional 15% of the Units at the issue price ($0.70 per Unit) exercisable within 30 days after closing of the Offering for additional gross proceeds of up to $3,000,000. The offering is led by Blackmont Capital Inc.

Net proceeds of the issue will be used for capital expenditures at the Company's Mineral Park Mine and for general corporate and working capital purposes.

This public Offering in Canada will be made by way of short-form prospectus. The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The Offering is scheduled to close on or about January 29, 2009 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.

http://ca.news.finance.yahoo.com/s/09012009/28/link-f-ccnmat…

[Popeye82]

China Mining buys Quadra shares, mulls bigger stake
www.miningweekly.com/article.php?a_id=150516

[Videomart]

CHILE: End of the Copper Boom
By Daniela Estrada
SANTIAGO, Jan 9
http://www.ipsnews.net/news.asp?idnews=45356

[Videomart]

Kupfer überrascht positiv
19.01.2009 10:11:00

Von Jörg Bernhard
Die Rede von Barack Obama zum 825-Milliarden-Dollar-Konjunkturpaket ließ den am aktivsten gehandelten Kontrakt auf Kupfer mit Fälligkeit im März um über 5 Prozent emporschnellen. Der geplante Ausbau der Infrastruktur dürfte u.a. auch der Kupfernachfrage helfen. Ein große positive Überraschung stellte zudem der Rückgang der Kupfer-Lagervorräte an der Shanghai Futures Exchange dar, die um 6.865 auf 15.871 Tonnen absanken. In der Vergangenheit fiel das rote Industriemetall vor allem dadurch auf, dass die Lagerbestände aufgrund der rezessionsbedingt rückläufigen Nachfrage massiv aufgebaut worden sind. So haben sich zum Beispiel die Vorräte an der London Metal Exchange, der wichtigsten Börse für Industriemetalle, innerhalb eines Jahres auf über 387.000 Tonnen glatt verdoppelt. Am Montagvormittag zog der an der Nymex gehandelte März-Future auf High Grade Copper weiter an. Bis gegen 9.30 Uhr (MEZ) verteuerte er sich um 2,20 auf 154,95 US-Cents pro Pfund an.
...

http://www.finanzen.net/eurams/nachricht/Kupfer_ueberrascht_…

[Videomart]

Jan 19, 2009 09:00 ET
Quadra Announces 2008 4th Quarter and Record Annual Production
Results From the Robinson Mine
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2009)
http://www.marketwire.com/press-release/Quadra-Mining-Ltd-TS…

[Videomart]

Chilean think tank forecasts copper prices will drop even lower
Most industry analysts predict copper inventories, until recently in deficit and underpinning booming prices, will come in near 300,000 to 400,000 tonnes this year.

Author: Pav Jordan
Posted: Monday , 19 Jan 2009

SANTIAGO (Reuters) -

Copper output in Chile, the world's largest producer, may fall in 2009 as the industry is hammered by low prices for the red metal, the director of the CESCO copper industry think tank said on Friday.

CESCO Executive Director Juan Carlos Guajardo told Reuters in an interview that he saw copper output coming in at about 5.3 million tonnes this year, either unchanged from a year earlier or down as much as 1 percent.

The CESCO outlook is far more pessimistic than a Chilean government report last week for a 3.7 percent rise in production this year.

Chile copper miner Antofagasta Plc said this week it was closing a small Lince open pit mine in northern Chile because of lower prices, the latest in a series of global copper industry project casualties.

"If you look at the 19 largest mines in Chile, 10 saw falling production last year (2008), so we are talking about more than half of Chile's mines with falling copper (output)," said Guajardo.

CESCO is a not-for-profit industry think tank whose members include companies producing much of the world's copper and which hosts one of the world's biggest copper meetings annually in Chile.

Guajardo said a study conducted CESCO showed planned investments for the sector have fallen 25 percent in dollar terms in Chile since September, to close to $27 billion as of early January from some $37 billion when the industry was still in an extended price boom and costs were soaring.

Global copper prices have plummeted since then to close to $1.50 a pound, from record highs of over $4 last July.

Guajardo said he estimated average copper prices would range between $1.50 and $1.80 in 2009.

For Chile's mining industry over all, Guajardo said planned investments fell 38 percent from September, led by projects in iron and steel and, to a lesser extent, molybdenum mining.

Of roughly $10 billion in investment plans put on hold in the copper industry, nearly $7 billion are attributable to No. 1 diversified miner BHP Billiton, majority owner of Chile's Escondida, the world's largest copper mine.

The CESCO report showed Escondida could postpone its Phase Five expansion, originally planned for 2013, and the building of a new complex to desalinate sea water for ore processing, planned for 2012.

Guajardo said some delays came as miners wait for equipment and material costs to fall back in line with copper prices.

REBOUND?

Guajardo said the copper market could see a slight rebound in the second half of the year, if copper inventories prove less robust than currently thought.

Most industry analysts predict copper inventories, until recently in deficit and underpinning booming prices, will come in near 300,000 to 400,000 tonnes this year.

"Now I'm seeing stats between 100,000 and 200,000," Guajardo said.

Copper prices are already up from close to $1.20 per pound just weeks ago, in part because they crossed the threshold below the minimum costs of even the most efficient producers.

And financial market turmoil has not punished the copper price as much as some had predicted.

"This is something that draws attention and gives pause for thought," Guajardo said. "One starts to look at the factors behind this."

China, he said, is giving signs for optimism, importing more copper than expected in December at a time when China bank loans rose.

"So there are some positive signs, although of course there will continue to be bad news in the first half, which will lower average copper prices." (Editing by Marguerita Choy)


http://mineweb.com/mineweb/view/mineweb/en/page36?oid=76934&…

[Videomart]

MINE SUSPENDED
African Copper suspends Mowana mine
Posted: Wednesday , 21 Jan 2009
African Copper said it will suspend production at its Mowana mine in Botswana for at least three weeks while the company holds talks to raise up to $15 million for its working capital needs.
http://www.mineweb.net/mineweb/view/mineweb/en/page504?oid=7…

[sharp2008]

Antwort auf Beitrag Nr.: 36.417.197 von Videomart am 21.01.09 11:01:24

wie beurteilst du quadra scheinst ja hier allein investierst zu sein?

[Videomart]

Antwort auf Beitrag Nr.: 36.422.011 von sharp2008 am 21.01.09 20:05:28

@ sharp2008!

Nein, ich bin nicht hier investiert.

Die Aussichten bezüglich Kupfer sind nicht sonderlich berauschend, der Preis ist erneut im Abwärtstrend, und weltweit werden Kupferminen geschlossen oder vorübergehend stillgelegt (z.b. bei Codelco in Chile oder bei African Copper).
Produzenten, die noch größere Schulden haben, kommen in ernsthafte Existenznöte.
Quadra dagegen hat ein gutes Cashpolster und kann eine längere Krise wahrscheinlich überstehen.
Momentan liegt der Cu-Preis bei etwa 1,40 US$. Bis 1,30$ läßt sich noch ohne Verlust produzieren. Wenn der Kupferpreis wieder anzieht, wird Quadra sofort davon profitieren.
Bis dahin kann es aber noch lange dauern, ein Ende dieser Krise ist bisher noch unberechenbar; daher kann der Preis auch noch bis unter einen Dollar fallen,
aber das ist schwer vorauszusagen.
Momentan sind die Kupferlager der Welt so voll wie lange nicht mehr:





Quellen:
http://www.ipsnews.net/news.asp?idnews=45356
http://www.mineweb.net/mineweb/view/mineweb/en/page504?oid=7…
http://mineweb.com/mineweb/view/mineweb/en/page36?oid=76934&…

[Videomart]

Copper market in surplus, but prices hold well

Consumption declines in leading industrialised nations.
What started as slowdown in western countries soon turned into recession, impacting prices of a wide range of commodities including base metals.

G. Chandrashekhar,
Washington DC, Jan 24

The world copper market showed a surplus of 50,000 tonnes for October 2008, according to the latest assessment of International Copper Study Group (ICSG), the intergovernmental organisation to promote the base metal.

The apparent refined copper balance for the first 10 months of 2008, including revisions to data previously presented, indicates a production surplus of 1.59 lakh tonnes compared with a production surplus of 1.19 lakh tonnes during same period in 2007, according to a preliminary ICSG data.

Again, in the first 10 months of 2008, world usage expanded by 2.8 per cent (4.08 lakh tonnes) compared with usage during same period in 2007, with China as the main driver of consumption (12.7 per cent growth) adding close to half a million tonnes of copper use. Leading industrialised countries — the US, EU-15 and Japan — all showed decline in consumption.


Sharp slowdown

Chinese usage data are of course estimates, not taking into account unreported stocks which may be sizeable during times of destocking.

The OECD composite leading indicators have for the past several months been strongly signalling a sharp slowdown not only in industrialised countries, but also downturn/slowdown in emerging economies such as China, India and Russia. What started as slowdown in western countries soon turned into recession, impacting prices of a wide range of commodities including base metals.


Copper prices declined steadily from August/September onwards.

The average LME cash price for December 2008 was $3,071.98 a tonne, sharply down from the November average of $3,717/t. On July 3, the cash price had spiked to its highest level of 2008 at $8,985/t. However, concerns over global economic growth and demand side factors led to a price collapse in the last quarter, with copper plunging to its year’s lowest level of $2,770/t on December 24 and averaged $6,951.52/t for the full year ($7,126.35 in 2007).


Stocks

As of end-December 2008, copper stocks held at the major metal exchanges (LME, COMEX, SHFE) totalled 3,89,683 tonnes, an increase of 1,51,345 tonnes from stock held at the end of 2007. In December alone, stocks increased by 66,925 tonnes from the previous month.

Clearly, gloabl economic slowdown and recessionary conditions in major industrialised economies have caused compression of demand for copper. Inventory levels are also becoming burdensome. Production cuts resorted to by producers have been of no avail so far as the market is concerned about poor demand conditions. How the stimulus packages of large economies will play out and how soon industrial production will pick up remain matters of conjecture.

Some experts are, however, of the view that although copper surplus is rising, it need not be a cause for serious concern. Even the current inventory level is seen as not too burdensome. Production cuts are seen limiting the surplus.

There is a strong positive correlation between industrial production growth and base metals usage including copper. When the process of economic recovery starts - anticipated to be towards the end of 2009 - copper may face a big price spike as the fundamentals would begin to tighten and production may not be able to quickly respond to demand.


http://www.thehindubusinessline.com/2009/01/25/stories/20090…

[Videomart]

Analysts bullish on copper
Thu, Jan 22, 2009

By Leia Michele Toovey- Exclusive to Copper Investing News

Copper prices will be low in the near term as weak demand and piling inventories exert downward pressure, however, for the long term analysts are bullish.

When the economic environment improves, investors will select profitable markets to invest in. The copper market considered by many to host the most profit potential of the base metals. Despite growing stockpiles, China requires more copper than its domestic market can produce, therefore imports are a necessity. Other markets - aluminum is a key example - are seeing demand quenched by domestic supply. The Chinese government announced early in the year its intent on stockpiling some key base metals. For all but copper, domestic supply will do, and the government is purchasing these metals at a premium price.

China’s State Reserves Bureau (SRB) has been dipping into the market to stock up on aluminum, zinc and indium, as well as soft commodities such as rubber. Jiangxi Copper refused to sell the SRB copper stating that it “could not afford to” because it only had enough for its own customers. That might force the SRB to buy on the open market. The Bureau has a lot of ways to purchase copper and probably it will buy on the international market because domestic copper smelters have limited stockpiles for the government to buy. China’s refined copper imports jumped 49 per cent in December from the previous month.

Copper’s depressed prices are reflective of the global economic climate. Over in London, copper dropped for a third consecutive day, as growing inventories signaled worsening demand. Inventories of copper in warehouses monitored by the London Metal Exchange rose 1.2 per cent to 422,450 metric tonnes, the highest since January 2004. Copper for delivery in three months on the LME dropped as much as $50, or 1.6 per cent, to $3,170 a tonne, the lowest intraday price since January 13. Copper has trimmed this year’s gain to 4.5 per cent, after slumping 54 per cent in 2008. Copper lost close to 5 per cent of its value in New York futures trade on Wednesday. India’s copper futures were flat on Thursday, after losing 6.4 per cent in the previous two sessions, tracking overseas markets. Analysts said copper would be pressured by weak demand outlook due to deepening global recession and huge inventory pile-up in the near-term.

Cumulative copper demand in 2008 rose 7 per cent down from 36 per cent in 2007. The world copper market was in surplus by 286,000 metric tonnes in the first 11 months of 2008. This compares with a deficit of 201,000 tonnes for the same period of 2007. Mine production for the first 11 months of 2008 was 14.1 million tonnes, some 1.3 per cent lower than in the first 11 months of 2007. Refined copper production rose 2.6 per cent to 16.89 million tonnes. Consumption in the first 11 months of 2008 was 16.6 million tonnes, fractionally lower than the same period the previous year.


http://www.copperinvestingnews.com/684/analysts-bullish-on-c…

[Videomart]

Copper Surges to Seven-Week High on Signs of Recovering Growth

By Millie Munshi

Jan. 26 (Bloomberg) -- Copper surged to a seven-week high on signs of improved economic activity, raising speculation demand will increase for the metal used in pipes and wires.

Home resales unexpectedly rose 6.5 percent in the U.S. last month, the National Association of Realtors said today. The index of leading U.S. economic indicators also advanced in December, a separate report showed. Copper has gained 13 percent this year on speculation that government spending on building roads, bridges and power lines will boost demand.

“There’s some bullishness coming back to commodities and copper is following that trend,” said Donald Selkin, the chief market strategist at National Securities Corp. in New York. “People felt that the economy is going to start to turn around and that’s going to help out copper prices.”

Copper futures for March delivery soared 11.45 cents, or 7.8 percent, to $1.5865 a pound on the New York Mercantile Exchange’s Comex division. Earlier, the metal touched $1.631, the highest since Dec. 2.

Sales of previously owned homes rose to an annual rate of 4.74 million from 4.45 million in November, the Realtors’ group said. The home resales were forecast to fall to a 4.4 million rate, according to the median estimate of 70 economists in a Bloomberg News survey. Builders are the biggest copper consumers.

“We saw an immediate, dramatic reaction to the upside” in metal and equity markets after home-sales figures were released, said Brian Hicks, who helps manage about $1.5 billion at San Antonio-based U.S. Global Investors. “That’s encouraging.”

Citing reports of job cuts today, U.S. President Barack Obama called for quick action on an $825 billion stimulus package in a bid to revive the recession-racked economy. Lawmakers in Congress are debating the stimulus plan.

Stimulating Effect

“The government is going to work hard to stimulate the economy and that’s going to help the overall sentiment in the market,” said Michael K. Smith, president of T&K Futures & Options in Port St. Lucie, Florida. “Copper is starting to find a bottom.”

Caterpillar Inc., the world’s largest maker of construction and mining equipment, cut 20,000 jobs today, citing declines in U.S. construction work. Home Depot Inc., the biggest home-improvement retailer, eliminated 7,000 jobs because of falling consumer spending. U.S. builders started work last month on the fewest new houses since record-keeping began 50 years ago.

“Most commodity prices dropped below investment-threshold levels in late 2008,” Caterpillar said today in a statement. “We expect this unfavorable environment to persist throughout the year.”

Copper has plunged 63 percent from a record $4.2605 in May as the U.S., Europe and Japan fell into recessions. Weak global growth will continue to limit copper’s gains, said Selkin of National Securities.

Profit Cut

Lower metal prices have hurt profits for mining companies including Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded copper producer. Freeport today posted a $13.9 billion fourth-quarter loss as copper plunged and the company wrote down the value of some mines and other assets. The company said sales of copper will be 9 percent less this year than previously forecast.

“Business is weak because of the global economic situation,” Freeport Chief Executive Officer Richard Adkerson said today on a call with investors. Still, continued infrastructure development in the U.S. and China will buoy copper prices in the longer term, Adkerson said.

On the London Metal Exchange, copper for delivery in three months jumped $304, or 9.4 percent, to $3,555 a metric ton ($1.61 a pound). The price reached a record $8,940 on July 2.


http://www.bloomberg.com/apps/news?pid=20601012&sid=adRfQ6nw…

[MFC500]

29.01.09

Quadra Mining is pleased to announce a revised mine plan and increased 2009 copper production guidance for its 100% owned Robinson Mine ("Robinson") in Ely, Nevada. The Company's guidance for its Carlota mine remains unchanged.

The Company has continued to evaluate alternate mine plans for Robinson that will allow for continuity of operations through the current global economic downturn and beyond. As a result, management has developed, and is proceeding with a new mine plan that is expected to result in significant cost savings and increased copper production in 2009 and 2010. The new plan requires a copper price in the range of $1.50/lb to cover operating and capital costs, maintain an appropriate minimum cash balance and facilitate continuous production at Robinson going forward.

The new plan alters the sequencing with mining now transitioning from the existing Veteran pit to a small satellite pit ("Kimbley Wedge") in 2010 and then to Ruth at the end of 2010. The Ruth pit will be mined in two stages, in a way that defers dewatering as well as delivering the blending balance required for optimum metallurgical results. This plan was developed based on additional information acquired from recent hydrological drilling and piezometer testing which now suggests lower dewatering requirements at Ruth. The completion of the drilling and metallurgical program that commenced in 2007 supports the new plan, providing the appropriate ore sequencing for a blending strategy.

The previously announced Veteran extension (see Press Release: December 1st, 2008), which adds two years of additional reserves, will now be deferred until after the ultimate Ruth pit has been completed. This deferral significantly reduces stripping requirements in each of 2009 through 2011 together with the associated operating costs. Capital expenditures are also expected to be lower in 2009 due to lower dewatering requirements and reduced equipment purchase commitments. The following table shows the revised guidance for Robinson, and compares this to the previous guidance. Cost assumptions are based on the current environment for input costs. The previously stated production guidance for Carlota remains unchanged at 50 million lbs of cathode for 2009.

The Company cautions that there is currently very broad volatility in all aspects of its business and, accordingly, actual results may vary substantially from all guidance and forward-looking information in this press release. See the discussion of assumptions and risks underlying this forward looking information at the end of this release.


2009
2009 Prior Forecast
Robinson Mine: New Forecast (December 1st 2008)
--------------------------------------------------------------------------
Copper production 140 million lbs. 130 million lbs.
--------------------------------------------------------------------------
Gold production 100,000 ounces 125,000 ounces
--------------------------------------------------------------------------
Onsite Costs ($ millions) (2), (3) $ 195 $ 220
--------------------------------------------------------------------------
Offsite Costs ($ millions) (3) $ 65 $ 60
--------------------------------------------------------------------------
Total onsite and offsite
costs ($ millions) $ 260 $ 280
--------------------------------------------------------------------------
Cash cost per pound of copper
produced (C1) (1), (3) $1.30 $1.40
--------------------------------------------------------------------------
Capital expenditures and
bonding ($ millions) $ 30 $ 40
--------------------------------------------------------------------------
(1) Cash cost per pound of copper produced in 2009 assumes gold by-product
revenue at $800/oz.
(2) Onsite costs in 2009 assume a diesel price of $2.32/gallon.
(3) Non-GAAP financial measures (see section below).


The new plan is also expected to increase production of copper in 2010 to 140 - 150 million pounds and gold production to 100-110 thousand ounces. Capital expenditures in 2010 are forecasted to decrease to approximately $30 million.

An updated Technical Report on Robinson containing the details on the revised reserves will be filed on SEDAR shortly.

Quadra's President & CEO, Paul Blythe says, "As indicated in early December, we believe that the mid to long term fundamental drivers of the copper market remain in place but short term volatility demands that every viable option be evaluated. We have continued to search for a plan that will allow Robinson to continue operating through this economic downturn and participate in future copper markets. This new schedule is not only expected to keep us operating at current copper prices, but will also increase our annual copper production for this and the next two years."

"Planning at any time is based on the information at hand, and recent information has allowed us to pursue an option we had previously considered but were unable to support until we were confident that it could be executed. We are pleased that the Robinson team has come up with a solution that is expected to achieve our core objective of optimizing continuous production in the present metal price environment."

Paul Blythe concludes, "We will of course continue to review market conditions for copper and gold, as well as any positive impact of input costs which are under downward pressure. For now, we are confident that we will be able to continue to operate at both Robinson and Carlota in the current market conditions while maintaining our cash balance objectives and pursuing our corporate growth strategy."

Conference Call

Paul Blythe, Quadra's President and CEO will host a conference call to discuss this revised mine plan. The details are as follows:


Date: Thursday, January 29th, 2009
Time: 11.00 am (Eastern Time)
Webcast: www.quadramining.com
Dial in: 416-695-9757 or 866-542-4270
Replay: 416-695-5800 or 800-408-3053
Replay Passcode: 3281895


The conference call replay will be available until midnight (Eastern Time) on February 5th, 2009. An archived audio webcast of the call also will be available on Quadra's website.

Non-GAAP Financial Measures

The cash cost per pound of copper produced, and onsite costs and offsite costs are non-GAAP financial measures that do not have a standardized meaning under Canadian Generally Accepted Accounting Principles ("GAAP"), and as a result may not be comparable to similar measures presented by other companies. Management uses these statistics to monitor operating costs and profitability. Onsite costs include mining costs, equipment operating lease costs, mill costs, mine site general and administration costs, environmental costs and royalties. Offsite costs include the costs of transportation, smelting and refining of concentrate. The cash cost per pound of copper produced is the total of onsite and offsite costs less by-product revenues, divided by pounds of copper produced.

http://biz.yahoo.com/ccn/090129/200901290508887001.html?.v=1

[Videomart]

Copper Drops on Signs Slumping Global Growth Is Eroding Demand

By Millie Munshi

Jan. 29 (Bloomberg) -- Copper fell to the lowest price in almost a week on signs the global recession is slashing demand for the metal used in homes, cars and appliances.

Inventories monitored by the London Metal Exchange soared 5 percent, the biggest gain since Sept. 5, to 477,675 metric tons today, the highest total since November 2003. World economic growth will be 0.5 percent this year, the weakest postwar pace, the International Monetary Fund said yesterday. Before today, copper had plunged 61 percent since June 30 as the cooling global economy reduced demand and supplies increased.

“Copper doesn’t have the fundamentals to move higher through the balance of this year,” said Pete Sorrentino, who co- manages $16 billion at Huntington Asset Advisors Inc. in Cincinnati. “There’s slowing growth and inventories are piling up. The industrial metals are in for a period of time when production will have to remain at fairly low levels as demand falls.”

Copper futures for March delivery fell 2.6 cents, or 1.7 percent, to $1.47 a pound at 11:24 a.m. on the Comex division of the New York Mercantile Exchange. Earlier, the price touched $1.421, the lowest for a most-active contract since Jan. 23.

Federal Reserve officials warned of a prolonged global economic slowdown that may push the U.S. to the brink of deflation. The central bank, in a policy statement yesterday, indicated concern about the worldwide economy weakening “significantly.” The Fed left the main interest rate unchanged at close to zero.

‘Bearish Sentiment’

“The market is currently engulfed in bearish sentiment, manifested on a daily basis in economic data that underscore the severity of the current economic malaise,” Gayle Berry, an analyst at Barclays Capital in London, said in a report today. “With consumption in many key markets now in decline, the build in LME stocks has been relentless.”

Before today, copper had gained 6.1 percent in January, heading for its first monthly gain since June, on speculation government spending will help boost demand.

“There were some unrealistic expectations about what the stimulus plan was going to mean for” copper, Sorrentino of Huntington said.

On the London Metal Exchange, copper for delivery in three months dropped $82, or 2.5 percent, to $3,248 a metric ton ($1.47 a pound). The price reached a record $8,940 on July 2.

Sales of new homes in the U.S. fell last month to the lowest level since record-keeping began in 1963, the Commerce Department said today.

“On the housing front, the overall situation remains dreadful,” Edward Meir, an analyst at MF Global Ltd. in Darien, Connecticut, said in a report yesterday. Copper may drop to as low as $2,650 a ton this year as demand wanes, MF Global forecasts.

To contact the reporter on this story: Millie Munshi in New York at [e-mail]

Last Updated: January 29, 2009 11:26 EST


http://www.bloomberg.com/apps/news?pid=20601012&sid=aMN9csvZ…

[Videomart]

Quadra Mining raises Robinson copper production forecast by seven per cent

THE CANADIAN PRESS

VANCOUVER, B.C. - Quadra Mining Ltd. (TSX:QUA) said Thursday it has changed its operating plan at the Robinson mine in Ely, Nev., and raised planned copper production this year by seven per cent.

"The company has continued to evaluate alternate mine plans for Robinson that will allow for continuity of operations through the current global economic downturn and beyond," Quadra said in a statement.

The company said it will change mine operations at Robinson, moving from the existing Veteran pit to the smaller satellite Kimbley Wedge pit in 2010 and then to the Ruth pit after that.

The Veteran extension will now be deferred until the Ruth pit has been completed.

"This deferral significantly reduces stripping requirements in each of 2009 through 2011 together with the associated operating costs," the company said.

"Capital expenditures are also expected to be lower in 2009 due to lower dewatering requirements and reduced equipment purchase commitments."

Quadra added that the new plan requires a copper price in the range of US$1.50 per pound to cover operating and capital costs and maintain an appropriate minimum cash balance.

The company raised its planned output at Robinson to 140 million pounds from 130 million pounds at a cash cost of $1.40 per pound. It lowered its gold production forecast to 100,000 ounces from 125,000 ounces.

The new plan is expected to increase 2010 copper production at the mine to between 140 million and 150 million pounds and gold production to between 100,000 and 110,000 ounces.

Capital spending in 2010 is forecast to fall to about $30 million.

"This new schedule is not only expected to keep us operating at current copper prices, but will also increase our annual copper production for this and the next two years," stated Quadra president and chief executive Paul Blythe.

Blythe added that he is confident Quadra will be able to continue to operate at both Robinson and the Carlota copper mine in Arizona "in the current market conditions."

Quadra owns and operates the Robinson mine, owns the Carlota mine and has a 100 per cent interest in the Sierra Gorda project in Chile and a 99 per cent interest in the Malmbjerg molybdenum project in Greenland.

Quadra shares fell four cents to $3 in Thursday trading on the Toronto Stock Exchange.


http://www.ngnews.ca/index.cfm?pid=575&cpcat=business&stry=2…

[Videomart]

Global crisis hits Chile Dec indust output, copper
2009-01-30 13:17 (UTC)

By Antonio de la Jara

SANTIAGO, Jan 30 (Reuters) - The adverse impact of the global economic crisis on Chile's economy was reflected in a series of reports on Friday showing industrial output falling further than expected in December, copper output tumbling for another month and joblessness rising.

Data published by Chile's National Statistics Institute (INE) showed industrial production down a bigger-than-expected 3.7 percent in December from a year earlier, after a 5.7 percent fall in November.

The figure was also worse than the median forecast of six economists and analysts polled by Reuters who predicted a median fall of 2.2 percent on the back of mining sector weakness amid crashing demand for industrial metal copper.

'This low result was due to a lower pace of economic activity and of both domestic and external demand,' INE said in a statement. It said that had hit output of base metals, wood products and non-metallic minerals.

'The economic data shows a downward trend which affects sectors from mining to business. This is because the dependence on the external sector makes them vulnerable to variations seen on international markets,' INE added.

Copper output fell 8.9 percent in December and 4.2 percent for the January-December period as the world's biggest copper producer saw ore grades fall at its biggest mines and amid some supply disruptions. That compounded sector weakness and the crisis pounded demand and prices.

At the same time, exports of molybdenum, a metal used to harden steel and another of Chile's top exports, also tumbled.

For the October-to-December period, the INE said the jobless rate was 7.5 percent, higher than the 7.2 percent rate reported for the same period in 2007.

The result was above the 7.3 percent median forecast of six economists polled by Reuters, and was unchanged from the 7.5 percent rate reported for the September-November period.

(Additional reporting by Rodrigo Martinez) Keywords: CHILE ECONOMY/

(Writing by Pav Jordan; Editing by Simon Gardner & Theodore d'[e-mail]; [phone]; Reuters Messaging: [e-mail])

http://www.xe.com/news/Fri%20Jan%2030%2008:17:00%20EST%20200…

[Videomart]

[Videomart]

Etwas älter, dennoch hochinteressant:


RPT-China Mining unit to boost Quadra stake to 19.9 pct
By: AFX | 12 Jan 2009 | 10:56 PM ET

HONG KONG, Jan 13 (Reuters) - China Mining Resources Ltd said it plans to increase its stake in Canada's Quadra Mining Ltd to a maximum of 19.9 percent from the current 4.02 percent. China Mining has set a maximum investment target of HK$200 million ($25.79 million) in Quadra, exclusive of transaction costs, the mainland company said in a statement late Monday. It will seek shareholder approval for the share purchase plan at market prices, through its unit Best Tone. "The consideration for the further Quadra investment shall not exceed C$5.28 ($4.34) per Quadra share," it said. (For full company statement, click: (http://www.hkexnews.hk/listedco/listconews/sehk/20090112/LTN… Quadra's shares closed at C$3.07 on Monday, down 13 percent. At 0307 GMT in Hong Kong, China Mining was down 3.2 percent at HK$0.214. China Mining shares resumed trade Tuesday morning after being suspended since Dec 22. ($1=HK$7.753) (Reporting by Nerilyn Tenorio, Editing by Jonathan Hopfner) ($1=7.755 Hong Kong Dollar) ($1=1.218 Canadian Dollar) Keywords: CHINAMINING QUADRA ([e-mail]; [phone])

http://www.cnbc.com/id/28630134

[Videomart]

UBS: Quadra Mining sell
02.02. - 09:49
http://analysen.finanztreff.de/analysen_ticker,id,28192201,l…

[Videomart]

[
b]Quadra Mining kein Stück aus der Hand geben[/b]
02.02.2009 16:04:08

Endingen (aktiencheck.de AG) - Nach Ansicht der Experten von "Hot Stocks Investor" sollten Anleger bei der Aktie von Quadra Mining (ISIN CA7473191012/ WKN A0CAB6) kein Stück aus der Hand geben.
Der Konzern habe für das vierte Quartal eine neue Rekordproduktion in der Robinson-Mine gemeldet. So habe man 34,5 Millionen Pfund Kupfer und knapp 27.000 Unzen Gold produziert. Für 2009 plane der Konzern alleine in der Robinson-Mine eine Förderung von 130 Millionen Pfund Kupfer und 125.000 Unzen Gold. Zusätzlich würden vom Carlota-Projekt weitere rund 50 Millionen Pfund Kupfer erwartet.

Nach Ansicht der Experten von "Hot Stocks Investor" sollten Anleger bei der Aktie von Quadra Mining kein Stück aus der Hand geben. (Ausgabe 02 vom 02.02.2009) (02.02.2009/ac/a/a)
Analyse-Datum: 02.02.2009

Quelle: Finanzen.net / Aktiencheck.de AG

http://www.aktienresearch.de/analysen/analysen_detail.asp?An…

[chillikiller]

so hab mich jetzt mal ein wenig eingedeckt mal schauen was so drin ist schaute schon nee lange zeit na positiven kurzen rum mal schauen

[Videomart]

Copper Rises on Speculation U.S., China Spending to Spur Demand

By Millie Munshi

Feb. 3 (Bloomberg) -- Copper prices jumped the most in a week on speculation that government spending plans in the U.S. and China will spur economic growth and boost demand for the metal used in pipes and wires.

China, the world’s biggest copper user, started investing a second part of a 4 trillion yuan ($580 billion) stimulus plan and may enact another to boost petroleum industries. In the U.S. Senate, debate began yesterday on an estimated $885 billion spending plan supported by President Barack Obama. Copper rose 4.1 percent in January on speculation that demand will revive.

Traders “await the outcome of whatever impact the combined economic stimulus packages” will have, Alex Heath, the head of industrial metals at RBC Capital Markets in London, said in a report. “The momentum does look to be favoring further gains.”

Copper futures for March delivery surged 9.1 cents, or 6.4 percent, to $1.522 a pound on the Comex division of the New York Mercantile Exchange. That marks the biggest advance for a most-active contract since Jan. 26. The January gain was the first monthly advance since June.

China is considering additional measures beyond the 4 trillion yuan stimulus to support its economy, the Financial Times reported yesterday. Obama’s plan for the U.S. will include money for projects including roads and bridges.

‘Direct Impact’

“The infrastructure-related portions of the fiscal stimulus packages will have a direct impact on metals demand,” Michael Widmer, an analyst at BNP Paribas SA in London, said today in a report.

China’s stimulus plan will boost copper demand 6.2 percent this year, and spending in the U.S. will increase use of the metal by 4.1 percent, Widmer said.

Copper’s gains accelerated after a report showed that the number of Americans who signed contracts in December to buy previously owned homes increased from the prior month for the first time since August.

“The home number today really helped kick the price higher,” said Donald Selkin, the chief market strategist at National Securities Corp. in New York.

The index of pending home resales climbed 6.3 percent to 87.7, according to the National Association of Realtors, an industry group. Builders are the biggest users of copper.

“We still need to see some more signs of economic recovery before copper can move out of its trading range,” Selkin said.

The metal will trade from $1.30 to $1.60 until more evidence of demand emerges, Selkin said. Copper tumbled 54 percent last year as the global economy tilted into a recession.

On the London Metal Exchange, copper for delivery in three months jumped $198, or 6.2 percent, to $3,373 a metric ton ($1.53 a pound). The price reached a record $8,940 on July 2.

To contact the reporter on this story: Millie Munshi in New York at [e-mail]

Last Updated: February 3, 2009 14:31 EST


http://www.bloomberg.com/apps/news?pid=20601012&refer=commod…

[chillikiller]

Hallo Leute
also die bläne für QUADRA MINING 2009 sind für mein geschmack sehr rosig man muss bloß ein wenig Geduld haben was bei mir schwär ist mal schauen wie lange ich warten kann aber eins kann ich sagen steigen Wirt sie und so wie es aus sieht hat sie keine finanzielle Krisse was man nicht von anderen unternehmen sagen kann

[chillikiller]

noch mal ich wenn jetzt mehr laute Interesse seigen würden würde sie auch ein wenig schneller steigen

[Videomart]

Folgen der Rezession:
Kupfertitan sieht lange Rohstoffbaisse

von James Mackintosh und Javier Blas (London)
Mittwoch 4. Februar 2009, 10:57 Uhr

Dem Rohstoffmarkt könnten einem der wichtigsten Marktteilnehmer zufolge "sieben dünne Jahre" bevorstehen. Laut Michael Farmer, Gründer des Hegde-Fonds Red Kite, werden die Preise über eine lange Zeit auf tiefen Niveaus verharren. "Wenn wir davon ausgehen, dass die Rezession eine Weile andauern wird, werden die Rohstoffpreise fünf, sechs, vielleicht sogar sieben Jahre niedrig bleiben", sagte Farmer der Financial Times.

Die Aussagen Farmers finden in der Rohstoffwelt große Beachtung. Red Kite ist einer der größten Spieler auf dem Kupfermarkt. Farmer und Mitgründer David Lilley haben jeweils rund 30 Jahre Erfahrung im Handel von Industriemetallen. ANZEIGE

Die beiden stenggläubigen Christen werden wegen ihres großen Einflusses auch "God Squad" ("Gottesschwadron") genannt. Farmer arbeitete jahrelang für die deutsche Metallgesellschaft, einst der größe Kupferhändler der Welt.


Rohstoffbestände auf hohen Niveaus

Der gesamte Rohstoffmarkt geriet im Zuge der Kreditkrise unter Druck: Rohöl verbilligte sich von einem Rekordhoch von mehr als 147 $ im Juli auf inzwischen rund 40 $. Auch Industriemetalle wie Kupfer und Aluminium notierten auf niedrigen Niveaus - nicht zuletzt, weil die Lagerbestände anschwollen. In den Lagerhäusern der Londoner Metallbörse LME stapeln sich inzwischen rund eine halbe Million Tonnen Kupfer, das ist soviel wie seit Ende 2003 nicht mehr. Bei Aluminium sind es sogar 2,84 Millionen Tonnen - ein Rekord. Der Reuters/Jefferies-CRB-Rohstoffindex verlor seit Juli 54,2 Prozent seines Werts.

Farmers Markteinschätzung hat sich grundlegend gewandelt. Noch vor einem Jahr sagte er, dass die Welt wegen der neuen industriellen Revolution Rohstoffe höher wertschätzen müsste. Seine aktuellen Kommentare sind dagegen pessimistisch: "Wir sind vom Boom in die Baisse gerutscht. Das wird eine Zeit lang so bleiben", sagte Farmer, der aber auch mit einer geringen Volatilität bei Metallpreisen rechnet.

2008 erzielte Red Kite eine Rendite von 20 Prozent. Für Farmer und Lilley ist das ein einträgliches Geschäft. Im Geschäftsjahr, das im März 2007 endete, verdienten die Red-Kite-Partner bis zu knapp 35 Mio. Pfund. Das geht aus Meldung an das britische Register Companies House hervor.

http://de.biz.yahoo.com/04022009/345/folgen-rezession-kupfer…

[chillikiller]

London 03.02.09 (www.rohstoffe-go.de) Der Kupferpreis kann heute in London zulegen, nachdem gemeldet wurde, dass die Lagerbestände der London Metal Exchange zum ersten Mail seit sieben Wochen wieder gesunken sind. Darüber hinaus ging die Produktion in den USA weniger zurück, als erwartet.

[chillikiller]

Canaccord behält die Kaufempfehlung und das Kursziel von 5,00 Can $ pro Aktie bei. Quadra Mining veröffentlicht am 20. Februar 2009 die ausstehenden Finanzergebnisse für das vierte Quartal 2008.

[Videomart]

China buys overseas copper for reserves
By Eadie Chen and Alfred Cang
Reuters
Wednesday, February 4, 2009

BEIJING/SHANGHAI - China has started buying copper from domestic bonded warehouses and overseas markets as a move to gradually triple its state reserves to about 1 million tonnes, trade sources familiar with the situation said on Wednesday.

The country's State Reserves Bureau (SRB) holds about 300,000 tonnes in copper stockpiles, the sources said. It has taken advantage of the slump in commodity prices to add to reserves of resources such as crops, metals and oil, but had not been seen in the copper market during the recent downturn.

One of the sources said the SRB could target 1 million tonnes in total, reinforcing remarks by a copper smelter source who told Reuters in December that the SRB could buy at least 700,000 tonnes of the metal, more than two months' of China's output.

"The buying is being done very quietly and not in one big go. It is from multi-channel suppliers such as domestic bonded warehouses and imports," the source, who asked not to be identified due to the sensitive topic, told Reuters. "They are doing it drop by drop to avoid sharp price fluctuations," the source said.

The sources did not provide a timeframe on the copper reserve plan. Details of China's commodities reserve stockpiles are confidential.

International copper prices jumped 1 percent to $3,384 a tonne following the Reuters news, having gained 10 percent so far this year after more than halving in 2008.

Copper inventories in a major SRB warehouse in Shanghai increased by about 10,000 tonnes last week, when the whole country was celebrating the Lunar New Year and financial markets were closed, two sources said.

The move was partly due to limited inventories available from Chinese domestic copper smelters, the sources said, in line with a comment by an executive at the country's top smelter in January.

China's imports of refined copper could return to record levels in January after hitting an all-time monthly high in December, seen as a result of possible buying by the state reserve body and higher Chinese prices, analysts said.

"The market talk is that we will see relatively large import figures for January copper imports as there is a possibility that the government was planning to purchase and will do so soon," said analyst Li Xun at Dalu Futures in Shanghai.


http://www.midasletter.com/news/09020402_China-buys-overseas…

[Videomart]

Antwort auf Beitrag Nr.: 36.512.589 von chillikiller am 04.02.09 17:57:22

5,00 CAD ist dann wohl doch etwas tiefgestapelt, bei Macquarie lag das Kursziel Anfang November noch bei 27,25 CAD:



Analyst Research Report Snapshot

title: Quadra Mining Ltd. - Ore Blending Remains Key for Success

price: $25.00
provider: Macquarie Capital Markets Canada
file info: Available for Immediate Download date: 05 Nov 2008 pages: 9 type: AcrobatPDF
companies referenced: QUA.TO

summary: George Albino [phone] [e-mail] John Graham [phone] [e-mail] Matthew Sheppard [phone] [e-mail]

Quadra Mining Ltd. QUA CN
CANADA 5 November 2008

Outperform Volatility index: High
Stock price as of 04 Nov 08: C$ 5.76
12-month target: C$ 27.25
12-month TSR: % 373
Valuation: C$ 19.15 - DCF (NAV8%) GICS sector Materials
Market cap: C$m 380.2
30-day avg turnover: C$m 9.4
Number shares on issue: m 66

Ore blending remains key for success (All figures in USD unless otherwise noted)
Event * Quadra announced 3Q08 results, reflecting previously announced production of 38.6m lbs of copper and 30,629 oz of gold (see our Flashnote dated 16 October) at cash costs of $1.21/lb. * We estimate 'clean' earnings and cashflows of $0.26/sh and $0.41/sh, respectively (see our Flashnote dated 4 November) compared with our EPS and CFPS of $0.51 and $0.57, and consensus of $0.56 and $0.57, respectively. * Financial results were impacted by a negative $64m provisional pricing adjustment, which resulted in a lower realized copper price, in the $2.15/lb range, compared with our estimate of $2.91/lb. * Quadra provided an update at Robinson - the company indicated it expects to extend the life of the Veteran Pit. * Mining of additional reserves will provide time for permitting decisions, allowing for discharge of more water at the Ruth Pit. It will also provide for concurrent mining of the two deposits allowing blending of primary and supergene ores to optimize recoveries and concentrate grade. * Quadra maintained guidance for initial cathode at Carlota by YE08 - thus far metallurgical response and grades have been in line with expectations. Impact * Mixed. The negative $64m provisional price adjustment was much larger than anticipated, however, may be partially offset in 4Q08 by the value of the company's hedging program (well in the money at current copper prices). * High recoveries during 3Q08 illustrate the success Quadra has enjoyed in blending primary and supergene ores. * We view the pushback of the Veteran Pit as mixed as well. While the pushback does reflect a larger reserve, and will allow for increased flexibility in developing Ruth - it will involve a significant stripping expense. Earnings revision * Quadra announced it will provide a detailed reserve and cost update on the Veteran expansion in mid-4Q08 - we will await the results of the study prior to potentially revisiting our earnings and cashflow forecasts. Price catalyst * Our C$27.25 target reflects an approximate 5.5x P/CF multiple of 2009 CFPS. Action and recommendation * We maintain our Outperform rating and C$27.25 target for Quadra. For a more detailed report please contact Macquarie Capital Markets Canada Ltd.
---------------------------------------
Important disclosures: Macquarie Capital Markets Canada Ltd has acted as financial agent (underwriter) and financial advisor to Quadra Mining Ltd. within the past two years. The primary analyst for Quadra Mining Ltd. has visited its material operations and development assets within the past year.
...

https://commerce.us.reuters.com/purchase/showReportDetail.do…

[Videomart]

Copper Resumes Advance in London on Outlook for Growth in China

By Claudia Carpenter

Feb. 6 (Bloomberg) -- Copper and aluminum rose in London, resuming this week’s climb, on speculation government spending in China will speed growth and revive demand. Both metals pared gains after a report showed the U.S. lost more jobs.

Gross domestic product in China probably will expand at an annual rate of 12 percent in the current quarter after shrinking by 2.3 percent in the fourth quarter, Deutsche Bank AG forecast today in a report. A second monthly gain by an index of Chinese manufacturing in January has helped copper to climb 11 percent this week and aluminum to add 8.2 percent.

There is “increased optimism over the condition of Chinese industrial demand,” Joel Crane, an analyst at Deutsche Bank in New York, wrote in the report. “Monetary and fiscal stimulus, coupled with inventory restocking, is prompting a temporary growth recovery in China this quarter.”

Copper for delivery in three months climbed $170, or 5.1 percent, to $3,500 a metric ton at 1:55 p.m. on the London Metal Exchange after adding as much as 6.5 percent earlier. Aluminum gained $27, or 1.9 percent, to $1,460 a ton, paring an advance of as much as 3.1 percent. Both metals fell yesterday after rising in the prior three sessions.

Prices for copper are likely to rebound on demand from Asia, said Zambian Vice President George Kunda at a mining conference in Livingston, Zambia.

U.S. companies cut 598,000 jobs in January, the Labor Department in Washington said. Economists forecast a drop of 540,000 jobs, the median estimate in a Bloomberg News survey.

The three-month nickel contract rose $224, or 2 percent, to $11,674 a ton. Nickel, used in stainless steel, has dropped 57 percent in the past year. Posco, Asia’s biggest stainless-steel maker, cut prices as much as 14 percent this month to reflect lower raw-material costs and spur demand.

Lead increased $26, or 2.3 percent, to $1,171 a ton, and zinc gained $16, or 1.4 percent, to $1,159 a ton. Tin rose $365, or 3.4 percent, to $11,170 a ton.


http://www.bloomberg.com/apps/news?pid=20601012&refer=commod…

[Videomart]

UBS: Quadra Mining sell

[Videomart]

Copper Soars Most in 3 Months on Speculation Demand May Rebound

By Millie Munshi

Feb. 6 (Bloomberg) -- Copper prices jumped the most in three months on speculation that government spending plans worldwide will revive growth and boost demand for the metal.

Urged on by President Barack Obama, the U.S. Senate may vote as soon as today on an economic stimulus package valued at more than $900 billion. China, the world’s biggest copper user, started investing the second allocation of funds from its 4 trillion yuan ($585 billion) stimulus plan, Xinhua News Agency said on Feb. 3.

“Metals may be discounting an imminent passage of the stimulus bill by the Senate,” Edward Meir, a Darien, Connecticut-based MF Global Ltd. analyst, said today in a report. “Perceptions are jelling that copper imports will remain strong” this month in China as government spending rises, he said.

Copper futures for March delivery soared 12.85 cents, or 8.6 percent, to $1.6285 a pound on the New York Mercantile Exchange’s Comex division. That marked the biggest gain for a most-active contract since Dec. 8. The price earlier touched $1.6345, the highest since Dec. 1.

The metal jumped 11 percent this week. That’s the biggest weekly advance since Jan. 2. Copper is up 15 percent this year.

“People are excited about the stimulus plan” and that’s helping copper prices, said Patrick Chidley, an analyst at Barnard Jacobs Mellet in Stamford, Connecticut.

China’s economic plan will boost copper demand 6.2 percent this year, and spending in the U.S. will increase use of the metal by 4.1 percent, BNP Paribas SA forecast.

Manufacturing Stabilizing

Copper also climbed this week on speculation that manufacturing may be stabilizing. China’s Purchasing Manager’s Index rose in January from the previous month, a report showed this week. A gauge of U.S. manufacturing also advanced last month from December, the Institute for Supply Management said on Feb. 4.

“This week’s sharp rally in copper prices is in part explained by increased optimism over the condition of Chinese industrial demand,” analysts at Deutsche Bank AG including Joel Crane in New York said today in a report.

Still, the gains may not be sustainable as traders are buying the metal on “overly ambitious demand expectations,” Deutsche Bank said.

The U.S. unemployment rate climbed to 7.6 percent last month, the highest since September 1992, the Labor Department said today. Non-farm payrolls shrank by 598,000 jobs, the most eliminated in a month since December 1974. Copper plunged 54 percent last year as the global recession slashed consumption.

Deteriorating Demand

“All indicators suggest global demand growth for copper had rapidly deteriorated,” Deutsche Bank said.

The metal will average $1.275 a pound this year as supplies top demand by 920,000 metric tons, the bank estimates. That compares with an average of about $3.12 in 2008.

On the London Metal Exchange, copper for delivery in three months rose $210, or 6.3 percent, to $3,540 a metric ton ($1.61 a pound). The price reached a record $8,940 in July.


http://www.bloomberg.com/apps/news?pid=20601012&refer=commod…

[chillikiller]

läuft hier alles super

[Videomart]

Normal Business Cycles

By Victor Goncalves
Feb 4 2009 9:06AM

www.enereport.com

It becomes hard to remember the days when copper prices were below 2 dollars, let alone below 1 dollar, but those days are back. There were many saying that copper, zinc and other base metals would simply keep moving up in the euphoric rally of 2005-07. With that in the recent memory bank, it is now time to start thinking about what will happen with base metals. Are they an investment of the past? Will we see 25 cent zinc and 60 cent copper? Or will we charge ahead on another bull run? The answers to those questions are fairly simple, especially if you believe in a normal business cycle of free markets.



What this normal cycle would suggest is that there is a fundamental long term equilibrium that everything has, be it the metals market or your body temperature. What happens when there is a fever in your body? Well, lots, the internal defense systems kick into high gear to produce more antibodies as the body did not have enough in stock to fight the invasion of the infection. So the body will produce a massive amount of antibodies, far more than needed. After that, the body is in very good shape for some time after until the antibody count gets too low again.

This can be applied to any market, including the metals market. When there is “normal” demand, there is a rate of supply to the market, and prices settle at a fair level. This level is said to be where businesses make no economic profit, that is, enough to pay the bills and have a small amount left over, no real reason for anyone else to enter the business. If demand starts to increase, then the price goes up, because meeting supply is a long term goal. There are inventories to draw down on, but that doesn’t typically last long. To bring in more supply to the system is a multi-year commitment of finding new ore bodies, or re-commissioning old ones, as well as building new processing facilities for the extra capacity, which could take years. Due to the increase in demand and tight supply, prices start to run up. In the mean time, opportunistic people see the better than economic gains in the sector and start up their own businesses. As it is a slow process to bring on new supply, the price stays up for quite some time. Even as many new entrants to the market come in, few of those add to the supply. After several years, some deposits start to produce and this increases the supply. Also, the particular economic event that used more base metals than usual may have ended. So now what we have is several supply sources coming on stream and a lower demand. At that point stock piles go up and the price of the metals come down. As these metals prices come down, so does the amount of participants in this market because economic profits are reduced to or near zero.

This is the point of the business cycle we are in. It is nothing that is out of the norm, it is just not pleasant. Going forward, what is going to happen is the price of these metals will keep coming down as more supply hits the market and more buyers leave the market. At that point prices will return to their long term average price or go below that if there is a prolonged economic downturn.

As we have had a build up in inventories, in the case of copper as much as 8 fold from the bottom, there are a lot of inventories to use up before prices start to move again. Even with an 8 fold increase of inventories, that number is still only half of the one million tons of inventories that were stock piled in the late 90’s and turn of the millennium. That would explain why the price of base metals where at half of where they are now.

With the new economic stimulus package introduced by the US government we could see some of the current inventories be consumed and prices stabilize at or above long term prices. For copper, that could be anywhere between $1.60 and the 2 dollar range. There is over 3 trillion dollars of infrastructure spending needed if the infrastructure is to be restored to proper shape. It is not likely that the full amount will be entertained at the present time, but even 25% of that budget will have a positive impact on base metals prices for several years.

If infrastructure spending in the US does not pick up, then we could see copper at closer to 1 dollar a pound. That being said, even at 1 dollar a pound there are several very robust projects on the market that are trading at a significant discount.

Once the world economy sorts itself out and the BRIC nations start growing again, we should see base metals enter into another rally, which like all rallies, will be reasonably short.

Victor Goncalves


http://www.kitco.com/ind/Goncalves/images/feb042009_1.jpg

[[KERN]Codex]

[MFC500]

09.02.09

Quadra Mining has agreed to buy Centenario Copper (CCT.TO) in a stock deal, valued at about C$57 million, to boost its copper production.

http://www.reuters.com/article/marketsNews/idAFN093991292009…

[chillikiller]

Bitte mal auf Deutsch

[MFC500]

die vollständige Meldung zur Übernahme:

http://www.marketwire.com/press-release/Quadra-Mining-Ltd-TS…

[chillikiller]

ist das jetzt positiv oder negativ sorry das ich das frage

[MFC500]

Antwort auf Beitrag Nr.: 36.542.821 von chillikiller am 09.02.09 17:16:59

Um das einschätzen zu können, musst du dir Centenario genauer ansehen. Nur aufgrund der Meldung allein lässt sich die Angemessenheit des Kaufpreises nicht beurteilen. Desweiteren spielt natürlich die Kuperpreisentwicklung eine maßgebliche Rolle.

[chillikiller]

danke für die Antwort wir hoffen mal das Beste

[Videomart]

[Videomart]

China's Stimulus Plan Ignites Economy
February 15, 2009

By Don Miller

China’s giant $585 billion (4 trillion yuan) economic stimulus package is showing signs of taking effect. Economists now project that China will be the likely leader of an elusive worldwide economic recovery.

Chinese banks heeded the government’s call to extend more credit to support the economy as they issued $237 billion (1.62 trillion yuan) in new loans in January, up a whopping 101% year-over-year, the People’s Bank of China said. The surge provides evidence that state-owned banks are heeding the government’s call to extend more credit to support the economy.

"The banks are fighting for the best projects in the government’s stimulus package,” Ha Jiming, chief economist of China International Capital Corp, told China Daily. "It’s not surprising to see that an array of the deals were sealed in the past month."

The massive jump in lending is equal to about one-third of the loans issued in all of 2008, prompting some economists to say the government might discontinue cutting interest rates.

"The bank lending figures are just a stunningly good piece of news for China," Glenn Maguire, chief Asian economist for Societe Generale in Hong Kong, told Reuters.

Now, it looks like the lending is spurring China’s turnaround. According to the median estimates of 14 economists in a survey released Friday by Bloomberg News, the world’s third-biggest economy will expand 6.6% in the second quarter after slowing to 6.3% in the first quarter.

That growth will accelerate to 7.2% for the full year, according to Wang Qian, an economist with JPMorgan Chase & Co. in Hong Kong. Stimulus spending will account for 3% of the total, she estimates.

"China looks set to be the first major economy to recover from the current global meltdown,” said Lu Ting, an economist with Merrill Lynch & Co. in Hong Kong, told Bloomberg Asia. "China is the only economy in the world to see significant growth in credit to corporate and household sectors after September 2008, when the financial crisis worsened to a near collapse.”

As Money Morning reported in its Outlook 2009 series, there is ample evidence that the stimulus will be large enough to assure China’s economy and markets will weather the storm and ultimately thrive in the year ahead.

The government announced the huge stimulus package on Nov. 9 to boost domestic demand and shore up investment. Though the central government will bear one-third of the cost, state-owned banks will play a critical role in financing the construction of bridges, railways and highways.

China is trying to recover from an economic slide that forced it to shed 20 million jobs, as exports dropped and the real estate market slumped. Spending on roads, railways and housing has increased prices for iron ore and other commodities, and helped drive the record number of new loans in January.

The lending multiplies the effect of the government’s spending in ways that wouldn’t be possible in the United States and Europe, where banks are burdened by toxic assets, Dwyfor Evans, a strategist with State Street Global Markets in Hong Kong, told Bloomberg.

Stimulus projects are evident throughout the country. The building of public houses in Shaanxi province and Shanghai began in December, while Shandong province started work on three new railway lines the same month.

"The economy is bottoming,” Tao Dong, chief Asia economist at Credit Suisse Group AG in Hong Kong, told Bloomberg.

Prices for China’s imported iron ore has climbed 28% since October. Hot-rolled steel has surged 41% and the Baltic Dry Index, or shipping costs for commodities, has more than doubled since Jan. 28.

"You are starting to see the underlying demand of the Chinese economy,” BHP Billiton Ltd. (BHP) Chief Executive Officer Marius Kloppers said Feb. 4. "We have seen in the steel business in China that the de-stocking cycle is almost complete and that means people are coming back into the market and buying.”

Even if the global recession lasts years, China has the ammunition to maintain growth, said Merrill Lynch’s Lu. It has public debt of only 18.5% of gross domestic product, foreign currency reserves of $1.95 trillion, and a balanced budget.

"China has perhaps the deepest pockets in the world,” Lu said. "It can relentlessly ramp up spending to create jobs and meet its growth target.”

Investors are also showing a renewed interest. Stock volumes on Feb. 11 were the highest in at least three years. The Shanghai Composite Index of stocks has climbed about 36% from November’s lows on optimism that government spending will bolster corporate earnings.



http://seekingalpha.com/article/120686-china-s-stimulus-plan…

[Videomart]

Wendepunkt???

[[KERN]Codex]

Antwort auf Beitrag Nr.: 36.543.205 von MFC500 am 09.02.09 17:56:25

durch deren hedges können wir nochmehr kupfer in 2009 zu hohen preisen verkaufen und auf steigende notierungen warten.

[SKGold]

Guten Morgen!

Bin gestern hier eingestiegen, halte sie für eine aussichtsreiche Aktie! Mal sehen ob meine Hoffnung erfühlt wird.

Gestern gab es auch News:

http://www.marketwire.com/press-release/Quadra-Mining-Ltd-TS…

[Videomart]

MARKET DEFICITS IN 2010 AND 2011
Will copper recover sooner than people think?
A review of what is happening in copper supply suggests that losses in output through closures and project abandonments may be sufficient to turn the market round quicker than many analysts would seem to contemplate.
Author: Chris Welch
Posted: Tuesday , 17 Feb 2009
http://www.mineweb.co.za/mineweb/view/mineweb/en/page36?oid=…

[Videomart]

Gemessen am Gesamtmarkt hält sich Quadra bullenstark:
Die Aktie liegt noch immer satte 75% über dem Tiefstkurs...

[Videomart]

Zu früh gefreut:
nachbörslich mit 5,9k auf 3,18C$ herutergezogen, insgesamt -7,83%...

[Videomart]

Copper rises, echoing global equities rally
Wed Feb 25, 2009 11:35am GMT

By Rebekah Curtis

LONDON (Reuters) - Copper rose more than 2 percent on Wednesday, in line with equities which rose on cautiously positive comments from Federal Reserve Chairman Ben Bernanke and U.S. President Barack Obama.

Copper for 3 months delivery on the London Metal Exchange rose to $3,395 a tonne at 1059 GMT from Tuesday's close of $3,285 a tonne.

Soothing sentiment and sparking a stock market rally, Bernanke said the U.S. government did not have plans to nationalise major banks.

Meanwhile, Obama struck a balance between grim economic reality and a more hopeful outlook in his State of the Union address.

"With equities up we're seeing some buying on the metals side...(But) there's still a lot of negative news out there yet to be released," said Michael Khosrowpour, an analyst at Triland Metals.

He said copper, used in power and construction, could head lower because of the deteriorating economic outlook. "I'm bearish and expect prices at some point within the next several months to come back to the 3,000 level, and possibly below."

Analysts warned the demand outlook remained grim, with base metals inventories rising and the slew of grim economic data set to continue amid the worst economic crisis in 80 years.

Data showing the German economy shrank by 2.1 percent in the final three months of last year, its worst quarter since reunification in 1990, dampened sentiment.

Later on Wednesday U.S. new home sales for January due at 1500 GMT could yield clues to growth prospects in the United States, the world's largest economy.

INVENTORIES RISE... AGAIN

Signalling crumpling demand, stocks of copper at LME warehouses in London rose by 1,800 tonnes and stocks of aluminium in LME warehouses in London jumped 9,775 tonnes to a record high above 3.1 million tonnes.

Aluminium used in transport and packaging fell to a 7-year low of $1,279 a tonne on Tuesday. Prices have been hit by the crisis in the auto sector.

It was last at $1,342 a tonne from $1,329 on Tuesday.

China's State Reserves Bureau last Friday finalized purchases of 300,000 tonnes of primary aluminium ingots with eight local smelters, smelter sources said.

"Chinese government's move in policy towards propping up output -- through stockpiling and changes to trade and tax regimes -- as opposed to encouraging more production cutbacks is bad news for the health of the aluminium industry," Barclays Capital said in a note.

The SRB bought 100,000 tonnes of refined zinc from 8 local smelters at 11,450-11,500 yuan per tonne on Wednesday, smelter sources said. Zinc edged up to $1,140 from $1,111 a tonne. Key stainless steel ingredient nickel was unchanged at $9,800 a tonne.

Battery material lead rose to $1,035 from $995, and tin rose to $10,825 from a closing bid of $10,525 a tonne.

http://af.reuters.com/article/investingNews/idAFJOE51O0GT200…

[Videomart]

aus
"Casey's Daily Resource"
February 26, 2009


Base Metals

All the base metals were higher on Wednesday. Copper jumped nearly 4 cents from yesterday’s close to $1.5257/lb. Nickel gained 19 cents to finish at $4.5420/lb. Zinc rose slightly more than 2 pennies, ending at $0.5076/lb. Aluminum tacked on almost a cent, closing at $0.5935/lb., while lead moved up exactly one penny to $0.4630/lb.

The reason for the big day in base metals, China, the world’s biggest copper consumer, may boost imports of refined copper by 37% this year, bolstering world prices as a recession slashes demand in the U.S. and Europe, said Trafigura Beheer BV.

Inbound shipments could jump to about 2 million metric tons as scrap metal supplies plunge and Chinese government spending sustains consumption, said Simon Collins, of Trafigura Trading Shanghai Co., in an interview yesterday.

“China’s buying will stabilize prices,” said Collins. “We believe demand is better than elsewhere. The cable industry is reporting good orders, from the people we talk to.” The slump in prices has cut global supplies of scrap metal and Chinese purchases have tumbled as much as 60% percent in recent months, driving the surge in refined imports, he said. China’s inbound shipments of refined copper jumped 41% to 180,490 metric tons in January from a year ago, while scrap purchases more than halved to 180,000 metric tons, customs data show.

Global “demand destruction has been extremely rapid” and this is reflected in soaring stockpiles on the London Metal Exchange, Collins continued. Copper inventories advanced to 548,400 metric tons on Feb. 25, the highest since October 2003. “China will continue to buy refined metals as long as prices are low,” Collins said, adding he expected aluminum, zinc and lead imports to recover. “We’ve visited some very large consumers and whilst it’s not what they expected in the middle of 2008, they still see very good demand,” he said, referring to the lead industry.

Copper is widely used in homes, cars and appliances, making its price a barometer of economic activity. The U.S., Japan and Europe were all saddled with recessions last year, the first simultaneous contractions since 1945.


http://caseyresearch.com/displayDrp.php

[Videomart]

Copper Climbs in N.Y. as Stockpiles Monitored in London Decline

By Halia Pavliva

March 2 (Bloomberg) -- Copper gained in New York as stockpiles of the metal monitored by the London Metal Exchange fell the most in more than four months.

Copper stockpiles monitored by the LME dropped for a third straight session, declining 5,625 metric tons, or 1 percent, the most since Oct. 21, the exchange said today in a report.

“Inventories have declined and canceled warrants have risen,” Michael Widmer, an analyst at BNP Paribas SA in London, said in an e-mailed note. “This was in part driven by restocking in China.”

Copper futures for May delivery rose 0.55 cent, or 0.4 percent, to $1.544 a pound at 9:59 a.m. on the New York Mercantile Exchange’s Comex division. The most-active contract climbed 7.4 percent last week, the first gain in three.

Still, demand for the metal used in pipes and wires may fall as the U.S. economy, the world’s biggest, contracted at the steepest rate in more than 25 years in the 2008 fourth quarter. In China, the biggest user of the metal, manufacturing shrank for a seventh month in February and Hong Kong’s exports tumbled 21.8 percent in January, the most in 50 years.

“The country’s overall macro picture remains subdued, with manufacturing activity still contracting in February,” BNP Paribas’s Widmer said.

Citing “extreme demand weakness,” Widmer said copper is likely to trade in a range of $3,000 a metric ton and $3,500 a ton this week on LME. The metal averaged about $6,886 last year in LME trading.

Dollar Strengthens

The dollar rose as investors sought refuge in the world’s preferred reserve currency. Some investors buy metals, such as copper, as an alternative to holding stocks, bonds and currency.

The U.S. Dollar Index, a six-currency gauge that includes the euro and yen, reached the highest since April 2006 earlier.

“The dollar hit a three-year high against a basket of currencies, adding to the negative pressure,” Edward Meir, a Darien, Connecticut-based MF Global Ltd. analyst, said today in a report.

Copper has plunged 60 percent in the past 12 months before today as slumping housing markets, mounting job losses and declining manufacturing strangled global economic growth.

Copper for delivery in three months slid $34, or 1 percent, to $3,415 a ton ($1.55 a pound) in LME trading. The price reached a record $8,940 on July 2.


http://www.bloomberg.com/apps/news?pid=20601012&sid=aKTJ7gOo…

[Videomart]

[Videomart]

US copper hits 3-mth high on China demand optimism
Wed Mar 4, 2009 2:17pm EST

NEW YORK, March 4 (Reuters) - Copper closed at a three-month high in New York futures trade on Wednesday as falling inventories and short-term demand optimism from China, the world's largest consumer of the red metal, fueled the short-covering advance.

* Copper for May delivery HGK9 climbed 8.95 cents, or 5.6 percent, to settle at $1.6940 a lb on the New York Mercantile Exchange's COMEX division.

* Highest settlement for the benchmark May contract since Nov. 26.

* Session range from $1.5925 to $1.7185.

* May copper breaking out above its resistance line at around $1.66 - John Gross, publisher of the Copper Journal.

* Technical correction could carry the market higher. Next level of resistance in May at $1.80-$1.90 - Gross.

* Front-month March copper HGH9 rose 8.95 cents to finish at $1.6855.

* COMEX estimated futures volume at 23,627 lots by 1 p.m. EST (1500 GMT). Final volume on Tuesday reached 16,639 lots.

* Open interest rose by 1,675 lots to 80,939 contracts open as of March 3.

* Chinese economic recovery hopes behind COMEX copper short-covering rally - George Gero, vice president with RBC Capital Markets Global Futures in New York.

* China will increase spending in areas such as infrastructure and manufacturing on top of the 4 trillion yuan ($584.7 billion) stimulus package unveiled in November. [ID:nBJC000263]

* Falling London Metal Exchange (LME) inventory levels seen adding more thrust to COMEX copper's lift-off this week, contributing to some short-term market optimism - Gross.

* LME copper stocks fell by another 4,850 tonnes to just over 526,000 tonnes on Wednesday. Inventories are down more than 22,000 tonnes since Feb. 25. <LME/STX1>

* Further support seen from the 64,400 tonnes of copper earmarked for delivery largely from warehouses in Asia, and also in Europe.

* COMEX copper stocks CMWSU held unchanged at 45,329 short tons as of Tuesday.

* Copper rally bucks data showing further contraction in the U.S. service sector in February.

* The Institute of Supply Management said its nonmanufacturing index came in at 41.6 in February versus 42.9 in January. [ID:nWEN5463]

* Pan Pacific Copper Co Ltd, Japan's top copper smelter, will continue to cut copper output by 10 percent for the full business year starting in April due to declining domestic demand. [ID:nT23148]

* London Metal Exchange copper for three months delivery MCU3 closed up $206 at $3,745 a tonne. (Reporting by Chris Kelly; editing by Jim Marshall))


http://www.reuters.com/article/rbssIndustryMaterialsUtilitie…

[teresas]

Lohnt sich noch ein Einstieg?
Prognosen?

[[KERN]Codex]

Antwort auf Beitrag Nr.: 36.703.639 von teresas am 05.03.09 09:18:49

quadra ist ein tenbagger in 5 jahren!

[Videomart]

Copper prices to fall from current levels, rebound in 2010: GFMS

London (Platts)--5Mar2009

Copper prices are set to fall, but not collapse, from current levels this
year, and then rebound in 2010, UK-based GFMS Metals Consulting said Thursday,
forecasting an average price for 2009 of $3,000/mt.

"We expect that bottom of the market (taking into consideration the
potential for a short-lived overshoot) will be $2,600/mt," GFMS said. "Upside
moves should be capped at around $3,600-3,700/mt, i.e. close to the levels in
early March."

In 2010, although GFMS is projecting a small surplus, the company is
forecasting an increase in the average price to $3,700/mt.

"In the second half of the year, the combination of an acceleration in
demand growth and the return of some 'long side' interest from funds should
see prices exceed $4,000/mt," it added.

For 2011, the relatively tight supply position for copper (low grades,
high mine utilization rates and lack of large-scale projects) "will once again
become relevant and will limit the supply response despite strong demand,"
GFMS said, adding: "This should support a further increase in prices."

GFMS is forecasting that global copper demand will decline by 0.2% in
2009 and increase by 4.5% in 2010.

"We would view our projection of a small decline as fairly conservative
i.e. positive given the direction in which nearly all of the demand indicators
are pointing," the consultancy said. "Once again, the copper industry will be
heavily reliant on China to support demand growth, as we have demand in the
mature economies falling by 3.7% this year."

MARKET TO SEE 500,000 MT SURPLUS IN 2009

GFMS forecasts that copper consumption in China will grow by 5% in 2009,
but the company's projection of a 3.7% decline in demand in 2009 (excluding
China) will leave the market in a surplus of around 500,000 mt, it noted.

Copper demand growth has been relatively weak for some time, peaking in
Q1 2007 and running at just 0.5% in Q4 2008, the company said, adding: "The
copper bull market was essentially a supply-side story."

One positive factor on the demand side is that pipeline stocks in the
consumption/distribution chain are low.

"Therefore, if economic activity does improve, even relatively modestly,
this would trigger a restocking process that should support 4.5% growth in
demand in 2010," GFMS said. "In 2011, we expect a period of above-trend growth
of 6.3% as economic growth accelerates."

FURTHER MAJOR SUPPLY CUTS UNLIKELY

On the supply side, GFMS' analysis has taken into consideration cutbacks
that have taken place so far, the company said.

"The duration of the cuts is by no means clear. We have assumed that most
cutbacks remain in place in 2009 and are gradually phased back in during
2010," the company said, adding that it had assumed no further major cutbacks
on price grounds.

"One reason for this is that copper prices still reside in the steep tail
of the cost curve, where a decline in prices does not automatically lead to an
immediate or large cut back in output," GFMS said.

GFMS estimates the marginal cost of production (based on the ninth
decile) to be around $3,300/mt, similar to the level prevailing in early
March.

"The price of most of the other base metals currently resides in between
the fifth and the seventh decile," the company said. "If the copper market
follows the other metals down the cost curve (and we do not see any particular
reason for this not to be the case), then there is further downside potential
in the copper market."


http://www.platts.com/Metals/News/8398168.xml?src=Metalsrssh…

[Videomart]

Bergbau: Erholung schon in der zweiten Jahreshälfte05.03.2009 | 15:15 Uhr | Rainer Hahn (EMFIS)

RTE Stuttgart - (www.rohstoffe-go.de) - Könnte der schwer unter Druck geratene Minensektor schon in zweiten Jahreshälfte 2009 wieder in Schwung kommen? Zumindest erste Anzeichen dafür sieht Francis McGuire, CEO des zweitgrößten Anbieters von Bergbaudienstleistungen Major Drill Group (CA5609091031), der auf Grund seiner Dienstleistungsfunktion als eine Art Seismograph für die Entwicklung der Branche angesehen werden kann.

Denn trotz der jüngsten Annullierung der Explorationsaktivitäten vieler Kunden hätten im einige Klienten bereits signalisiert, dass sie darüber nachdenken, ihre Projekte bereits in einigen Monaten wieder zu aktivieren.

Dass die ersten sechs Monate 2009 vor allem von extremer Vorsicht der Bergbauunternehmen gekennzeichnet sein werden, scheint offensichtlich. McGuire aber erwartet dann eine Besserung, wenn auch nur eine kleine. Besonders starke und positive Signale erhalte Major Drilling von Kunden, die im Kupferbereich tätig sind, dass sie in absehbarer Zeit wieder positive Entscheidungen bezüglich etwaiger Explorationsaktivitäten treffen würden. Es sei zwar noch zum Teil Spekulation, doch diese Kunden schienen eine signifikante Verbesserung der Situation zu erwarten.

http://www.rohstoff-welt.de/news/artikel.php?sid=11920

[Howto45]

Antwort auf Beitrag Nr.: 36.708.213 von Videomart am 05.03.09 18:13:48

Dann warten wir heute mal auf die Zahlen !

[Spitzenrolli]

Kupfer ist schön ausgebrochen. Bin jetzt auch voll dabei. Wünsche uns alle gute Gewinne!

[MFC500]

Quadra Mining Ltd. Announces 2008 Year End and Fourth Quarter Financial Results

http://biz.yahoo.com/ccn/090306/200903060515832001.html?.v=1

[Videomart]

Antwort auf Beitrag Nr.: 36.716.492 von Spitzenrolli am 06.03.09 16:03:53

Kupfer ist schön ausgebrochen

Wird leider nicht von langer Dauer sein...

[Videomart]

Quadra posts loss on writedown, low copper prices
By: AFX | 06 Mar 2009 | 09:20 AM ET

TORONTO, March 6 (Reuters) - Quadra Mining reported a quarterly loss on Friday, citing a writedown related to its molybdenum project in Greenland and a steep drop in copper prices. The net loss was $126 million, or $1.94 a share. That compares to a profit of $5.5 million, or 14 cents a share, in the year-before period. The Vancouver-based company said its results included a writedown of $1.52 per share on its Malmbjerg project in Greenland as recent declines in molybdenum prices, and the weak credit and financial markets, led to the suspension of the project's activities. Quadra said the fall in the price of copper from $2.91 per pound on Sept.

30 to $1.33 at Dec. 31 had a major impact on its earnings and cash flow. Due to the fall in copper prices, the company said its fourth-quarter revenues include negative pricing adjustments of $65 million related to third-quarter sales. It also said it recorded a negative price adjustment of $20 million related to fourth-quarter shipments. For those reasons, Quadra said revenues from concentrate sales were -$7,058 compared to $81,667 for the fourth quarter of 2007. The company said it met its 2008 revised production guidance, producing 160 million pounds of copper and 138,000 ounces of gold. Quadra mines primarily from its Robinson mine in Nevada. ($1=$1.28 Canadian)
(Reporting by John McCrank, editing by Dave Zimmerman)

http://www.cnbc.com/id/29548188

[Videomart]

09.03.2009 | 09:53
Chinesen kaufen Kupfer

Obwohl von der Konjunkturfront keine Trendwechselsignale kamen, präsentierte sich Kupfer und andere Industriemetalle in der vergangenen Börsenwoche ausgesprochen stark. Sie alle profitierten von der Ankündigung Chinas, dass man das niedrige Niveau zum Ausbau der Lagervorräte nutzen wolle. Bis zum Freitag sanken die Lagerbestände an der London Metal Exchange, dem wichtigsten Handelsplatz für Kupfer, von 545.475 auf 525.200 (-3,7 Prozent). Viele Großinvestoren wurden außerdem auf dem falschen Fuß erwischt und mussten ihre zuvor eingegangenen Short-Positionen wieder schließen.
Auf Wochensicht belief sich das Plus bei Kupfer auf fast acht Prozent. Der Start in die neue Handelswoche fiel an der COMEX jedoch schwach aus. So ermäßigte sich der Mai-Kontrakt bis gegen 9.15 Uhr (MEZ) um 4,15 auf 164,75 US-Cents pro Pfund.

http://www.wallstreet-online.de/nachrichten/nachricht/269293…

[Videomart]

[Spitzenrolli]

Antwort auf Beitrag Nr.: 36.718.959 von Videomart am 06.03.09 19:55:42

Der Ausbruch scheint sich zu bestätigen. Warten wir mal ab. Mit meinem Einstieg kann ich erstmal gut schlafen.

[Videomart]

UBS recommends higher allocation to energy, metals
6th March 2009

LONDON - Swiss-based bank UBS said on Friday it had raised its recommended allocation to energy and industrial metals to neutral from underweight.

The suggested allocation to both energy and industrial metals is now 1 percent from 0,5 percent.

Overall UBS is recommending a 5,5 percent allocation to commodities from 4,0 percent previously.

"Despite the worst global recession in 70 years, we opt to upgrade commodities from underweight to a small overweight," the bank said in a note.

"Prices have stabilized since late 2008, partly as inventories have been liquidated and as supply-demand imbalances have begun to adjust."

Price stability suggested demand destruction had mostly been discounted, it added.

"Moreover, as global production falls to eliminate unwanted inventories, supply-demand discrepancies should recede.

"(And) with some leading indicators of production - U.S. ISM and other PMIs - showing first signs of bottoming, the worst of cyclical commodity price falls appears to have passed."

Some stabilization of the Chinese economy also offered support, the bank said.

"Commodities may be finding some support, albeit tentative, from signs that China's domestic economy may be stabilizing.

"Accelerating money and loan growth in China suggests that banks are more willing to lend and households or firms more willing to borrow."

UBS recommends the allocation to precious metals be raised to 1,5 percent from 1,0 percent and the allocation to agriculture and livestock be held at 1,0 percent.

Edited by: Reuters


http://www.miningweekly.com/article/ubs-recommends-higher-al…

[Videomart]

Antwort auf Beitrag Nr.: 36.742.098 von Videomart am 10.03.09 23:46:50

02.02.2009 09:49
Quadra Mining sell (UBS AG)

http://www.finanzen.net/analyse/Quadra_Mining_sell-UBS_AG_31…

[Videomart]

[Videomart]

Kupfer und Öl: Frühe Warnhinweise auf ein Ende der Weltwirtschaftskrise
11.03.2009 | 7:52 Uhr | Rohstoff-Welt.de
http://www.rohstoff-welt.de/news/artikel.php?sid=11973

[Videomart]

EMERGING FROM DOWNTURN?
China copper imports hit new record in February and may rise further
Chinese imports of copper surged 96,610 tonnes in February vs January to a new to record with SRB stocking seen as supportive, and fabricator demand firmer. Aluminium imports also rose.

Author: Polly Yam
Posted: Wednesday , 11 Mar 2009

HONG KONG (Reuters) -

China's total copper imports surged 41.5 percent to a record last month, data showed, topping expectations on state-backed strategic buying and after stronger Chinese prices had spurred merchants to raise spot imports.

The data follows other signals -- both macro-economic and in the metals market -- that the Chinese economy and its demand for raw materials is emerging from the steep downturn seen late last year, a supportive sign for beaten-down global commodity prices.

China, the world's top consumer of copper, imported 329,311 tonnes of unwrought copper, including anode, refined and alloy, and semi-finished copper products in February versus 232,701 tonnes in January, the General Administration of Customs said on its website on Wednesday. (www.customs.gov.cn)

"The Feb imports were bigger than we had expected. The big imports should have come from higher inflow of refined copper due to SRB's buying and the spread between Shanghai and LME prices," Jing Chuan, chief researcher at Great Wall Futures in Shanghai said.

China will give details on imports of refined copper alone, which accounts for three-quarters of imports, in about two weeks.

Analysts and traders had expected February's refined copper imports to surpass December's record high 211,527 tonnes after the arbitrage for importing copper from London Metal Exchange warehouses gapped wide on restocking by end-users and repairs at some Chinese smelters including Yunnan Copper (000878.SZ: Quote).

State-backed stockpiling also pushed up imports.

The State Reserves Bureau, which is Beijing's commodity stockpile management arm, is believed to have contracted about 300,000 tonnes of imports to build strategic stockpiles, most of it arriving in the first half.

"The high level of copper imports has been caused by the strong arbitrage opportunities and a big number was expected...so a record high for refined copper will come as no surprise," Yingxi Yu, analyst at Barclays Capital in Singapore said.

"The decline in aluminium exports was also expected, highlighting the relative strength of domestic prices."

FABRICATOR DEMAND

Traders also said fabricators have been buying copper to resume production after the Lunar New Year break in late January and early February, and also to rebuild inventories, suggesting that end-user demand may also be on the mend.

"We are willing to stock up more copper. There is little room for Chinese prices to fall," an executive at a trading firm in Shanghai said. He added the firm had paid a premium of $160 to import copper for prompt delivery last week, more than double of the yearly premiums.

Traders said fabricators had bought more refined copper to build stocks at 25,000-27,000 yuan per tonne.

A source at fabricating plant Chinalco Luoyang Copper said that large copper fabricators were operating at nearly 90 percent of capacity versus about 50 percent in late December.

"Our operation rates rose 10-20 percent in February from January," the source told Reuters, adding that China's stimulus plan to boost domestic consumption was strengthening demand from the power, transport and telecommunication sectors.

Imports of refined copper may rise further by 20,00-30,000 tonnes in March from February due to increased spot orders by merchants and fabricators if margins stayed attractive, said Zhu Yanzhong, analyst at Jinrui Futures, a subsidiary of of top Chinese producer Jiangxi Copper.

A manager at a large trading firm in China said he estimated imports could reach as high as 300,000 tonnes in March, although others noted that the recent collapse in premium of Shanghai copper futures SCFc3 to LME MCU3 could temper imports.

The spread ballooned as wide as over 2,000 yuan per tonne in January and 1,900 yuan in February but has now shrunk to below 400 yuan.

China, also the world's top producer and consumer of aluminium, imported 60,074 tonnes of unwrought aluminium and semi-finished aluminium products in February, up 6.6 percent from January, as Chinese prices had stayed stronger after the SRB bought 590,000 tonnes of primary metal in December-February.

Strong domestic prices pushed down exports of unwrought aluminium to 10,992 tonnes in February, down 37.7 percent from January. (Additional reporting by Tom Miles in BEIJING)


http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=80…

[Videomart]

Quadra Mining Tgt Raised To C$4.30 From C$3.20 By CIBC >QUA.T
By Wall Street Journal, March 10th, 2009 at 7:02 am

Quadra Mining Tgt Raised To C$4 From C$3.25 By Scotia >QUA.T
By Wall Street Journal, March 10th, 2009 at 12:16 am
http://news.mining.com/tag/quadra-mining-ltd/


...na, da habe ich noch ein viel realistischeres Kursiel: C$4.44 !!!

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?s…

[Videomart]

"Metals & Mining Stocks: Analysts' Ratings & Estimates"
by Bill Matlack

[Videomart]

13.03.2009
Rohstoffe werden unter Wert gehandelt

Liechtenstein (BoerseGo.de) - Trotz der schwersten weltweiten Rezession seit dem zweiten Weltkrieg ist der langfristige sekuläre Aufwärtstrend bei Rohstoffen intakt, vermuten die Experten von Craton Capital in einem aktuellen Marktkommentar. Rohstoffe seien im Vergleich zu ihrem langfristigen Preis erheblich überverkauft, so die Experten. Das gelte auch für Rohstoffaktien, die im Verhältnis zu den vorhandenen Reserven im Boden deutlich verbilligt seien.

Der Rohstoffzyklus habe bereits gegen Ende des letzten Jahres seinen Boden erreicht. Rohstoffe könnten sich deshalb jetzt wieder besser entwickeln als andere Anlageklassen. China könnte nach Ansicht der Experten die erste große Volkswirtschaft sein, die erste Erholungstendenzen zeige und damit die Nachfrage nach Rohstoffen wieder anheize. "Chinesische Unternehmen haben im letzten Monat mehr als 22 Milliarden US-Dollar für den Kauf an Anteilen von Rohstoffunternehmen ausgegeben. Chinesische Regierungsagenturen sind zudem die größten Käufer von physischen Rohstoffen. Wir erwarten, dass sich beide Trends fortsetzen werden."

"Die chinesischen Infrastrukturprojekte und die großzügige Kreditvergabe der Banken werden zu neuen Aufträgen für Rohmaterialien und Maschinen in der Realwirtschaft führen. Wir könnten uns gut vorstellen, dass die erste neue chinesische Eisenbahnstrecke in Betrieb genommen wird, bevor die erste Schaufel, finanziert durch ein westliches Konjunkturprogramm, bewegt wird."
(© BörseGo AG 2007 - http://www.boerse-go.de, Autor: Baron Oliver, Redakteur)


http://www.boerse-express.com/pages/756366/newsflow

[Videomart]

Wirtschaftsnews - 13.03.09

Kupfer in Asien mit Zugewinnen

Shanghai 13.03.09 (www.rohstoffe-go.de) Der Kufperpreis kann heute in Shanghai zulegen und folgt damit der Entwicklung an den Aktienmärkten. Der Markt spekuliert darauf, dass die globale Rezession etwas abschwächt, da der Einzelhandel in den USA im Februar geringer eingebrochen ist, als zunächst erwartet wurde.

Der Kupferkontrakt zur Lieferung Juni konnte heute an der Shanghai Futures Exchange um 1,4 Prozent auf 29.160 Yuan (4.265 USD) je Tonne zulegen. An der LME bewegt sich Kupfer derzeit bei 3.652 USD/Tonne.

http://www.rohstoffe-go.de/index.php?id=771&tx_asiabeitrag2_…

[Videomart]

EMFIS
China könnte Kupferkäufe 2009 ausweiten
Montag 16. März 2009, 16:14 Uhr

Stuttgart (www.rohstoffe-go.de) - Wie ein Offizieller der Macquarie Group, eines australischen Finanzdienstleisters, mitteilte, könnte China in diesem Jahr weitere 900.000 Tonnen Kupfer einkaufen das Dreifache dessen, was bisher erworben wurde. Die chinesische Regierung implementiert derzeit ein Konjunkturprogramm im Volumen von 585 Milliarden Dollar, um den Binnenmarkt zu stützen, nachdem die Wirtschaft des Landes im vierten Quartal so langsam wuchs wie seit sieben Jahren nicht mehr und die Exporte einbrachen.

China, das seine 1,95 Billionen Dollar an Währungsreserven hauptsächlich in Schuldpapieren der US-Regierung hält, solle seine Investments diversifizieren, um Risiken abzuwenden, sagte Premier Wen Jiabao erst letzte Woche, was durchaus für weitere Einkäufe im Rohstoffsektor sprechen würde.

http://de.biz.yahoo.com/16032009/390/china-koennte-kupferkae…

[Videomart]

Copper prices to fall, oil to stay firm as supply/demand forces at work

Levi Folk, Financial Post
Published: Thursday, March 19, 2009


Oil and copper prices are rising but for different reasons. Its economics 101 really, supply and demand, the former favoring oil and the latter supporting copper. Oil prices are rising because OPEC is cutting supply from the market. Unfortunately there is no copper cartel controlling supply; therefore, the prices of industrial metals are at the mercy of China's demand.

Oil prices have responded to OPEC supply cuts equal to roughly 3.3 million barrels per day, to date. Demand is off by roughly one million barrels per day according to the IEA. Hence oil prices are gaining strength.

China is the single biggest consumer of industrial commodities, accounting for roughly one-quarter of copper demand. Prices have recovered on expectations of renewed demand from China to satisfy the government's US$585-billion infrastructure spending plans over the next two years. As a result, prices are up more than 20% since the start of the year.

Early signs are encouraging: China imported a record high 329,300 tons of copper in February, representing a 41.5% rise over January due to buying from China's State Reserve Bureau. However, demand could easily falter, suggesting the current rally does not have legs.

The IMF expects the global economy to contract by 0.6% in 2009, which will seriously crimp copper demand. China will show growth leadership but still only manage to pull out sub-trend growth. The World Bank yesterday cut its projection of gross domestic product growth this year to 6.5% from a 7.5% forecast in November.

In this very weak economic environment, additional infrastructure spending plans in China are supportive of copper price but are insufficient to carry the market. Expect copper prices to fall until a global economic recovery happens in earnest.


http://www.nationalpost.com/related/topics/story.html?id=140…

[Videomart]

23.03.2009 - 15:11 Uhr
Quadra Mining sell

Rating-Update:
Zürich (aktiencheck.de AG) - Die Analysten der UBS, Onno Rutten und Matt Murphy, bestätigen ihr "sell"-Rating für die Aktie von Quadra Mining (ISIN CA7473191012/ WKN A0CAB6). Das Kursziel werde von zuvor 2,74 USD auf jetzt 3,30 USD erhöht. (23.03.2009/ac/a/u) Analyse-Datum: 23.03.2009

Quelle: Finanzen.net
http://sub01.finanztreff.de/99/news--a.sektion.empfehlungen.…

[Videomart]

Antwort auf Beitrag Nr.: 36.827.377 von Videomart am 23.03.09 17:14:39

ist ausdrücklich deren Meinung!
Die Entwicklung bestimmt einzig und allein der weitere Verlauf des CU-Preises...

[Videomart]

Industriemetalle kräftig im Plus
23.03.2009 | 11:45 Uhr | Rainer Hahn (EMFIS)

RTE London - (www.rohstoffe-go.de) - Der Kupferpreis kann heute weiter kräftig zulegen und profitiert von der Dollarschwäche. Mit dem Anstieg des Kupferpreises geht es auch für die anderen Industriemetalle nach oben.

Fundamental ändert sich an der schwierigen Lage allerdings nichts, die Lagerbestände an der LME sind Stand Freitag um 2,1 Prozent auf 503.950 Tonnen gestiegen, gleichzeitig wurde mitgeteilt, dass die Industrieproduktion in Europa im Januar um 17 Prozent eingebrochen ist und damit so stark wie seit 1986 nicht mehr.

An der LME stiegt Kupfer aktuell um drei Prozent auf 4.107 USD/Tonne. Bei Zink geht es um 2,56 Prozent auf 1.319 USD/Tonne nach oben, Aluminium steigt um 1,07 Prozent auf 1.504 USD/Tonne, Blei legt um 1.371 USD/Tonne zu und Nickel klettert um 1,13 Prozent auf 10.135 USD/Tonne.

Der Euro verliert aktuell gegenüber dem US Dollar leicht auf 1,365.

http://www.rohstoff-welt.de/news/artikel.php?sid=12199

[Videomart]

Antwort auf Beitrag Nr.: 36.827.377 von Videomart am 23.03.09 17:14:39

Erneut +9.82%!!
Wie bescheuert darf man als Analyst bei UBS eigentlich sein, wenn man das "sell"-Rating für eine Aktie stur wiederholt, nachdem das Papier nach der letzten, nachweislich falschen Empfehlung,
um sage und schreibe 60% gestiegen ist???

[Trockentrader]

Antwort auf Beitrag Nr.: 36.830.344 von Videomart am 23.03.09 22:26:11

Da muß man sich immer ein eigenes Bild machen.

Für ein sell-rating reicht es u.U. aus wenn der Analyst davon ausgeht das der Aktienkurs 30% sinkt weil der Cu-Preis wieder absackt und dann längere Zeit stagniert (also lediglich vermutet).

Anhand der kompl. Analyse sieht man ja wie der Analyst zu seinem Rating kam. Ich pers. nutze Analysen oft um meine eigene Einschätzung zu hinterfragen.

[Videomart]

Antwort auf Beitrag Nr.: 36.833.684 von Trockentrader am 24.03.09 12:14:13

Das von der UBS "angeschobene" Hinterfragen hätte in diesem Fall schnell zu der Annahme geführt, der CU-Preis würde zügig wieder sinken; eine Verkaufsentscheidung wäre dann sehr wahrscheinlich gewesen.
Anschließend hätte man sich dann in den Allerwertesten gebissen!!

Die UBS und die Deutsche Bank sind für mich die schwärzesten Schafe im europäischen Finanzsystem...

[Blue200]

Antwort auf Beitrag Nr.: 36.836.349 von Videomart am 24.03.09 16:37:27

hi

Bin dank Topleveldepot seit 2 Euro dabei, rund 75% im plus jetzt.
Welch eine Freunde

[Videomart]

aus "Casey's Daily Resource"
March 28, 2009

Base Metals

The base metals were mostly in the red on Friday. Copper declined from the pre-dawn hours to shortly after the New York open, then went essentially flat, finishing at $1.7918/lb., down 3 2/3 cents. Nickel was off from the pre-dawn hours to late morning, then gained back a little lost ground but closed at $4.2728/lb., down nearly 6 cents. Zinc also fell until late morning, but then rallied strongly to claw back into the green at $0.5962/lb., up a quarter of a cent. Aluminum sagged, ending barely off its intraday low at $0.626/lb., down a penny and a half, while lead was also weak, giving up a penny and three-quarters, to $0.5736/lb.

Copper led most of the metals lower, as traders feared the dollar rally would reduce their appeal as a hedge.

There was also a measure of position-squaring at week’s end, after copper touched a nearly 5-month high overnight.

However, some analysts see copper’s runup continuing, even in the near term. “Market momentum could carry prices to an upside target of $2.00 a lb. by next week,” said Larry Young, of Infinity Futures in Chicago. But Young added that, “Profit-taking can be expected to pull the market back from that level.”

On the supply front, copper inventories monitored by the LME dropped by 3,150 metric tons yesterday, to 500,750 tons.

The China factor: Shanghai inventories fell by 20% during the past week. But what that means is guesswork.

“You have a lot of people buying copper now because of the idea of demand coming out of China,” said Gijsbert Groenewegen, of Gold Arrow Capital Management in New York. “But people don’t know yet if China is buying copper to add to their stockpiles or because it’s really being consumed. Until you have more sustained signs that the actual consumption is going up, the price will struggle.”

In company news, Australia surprisingly rejected Chinese state-owned Minmetals' $1.7 billion bid for miner OZ Minerals yesterday, citing national security concerns as one of OZ’s mines is close to a weapons-testing facility. The two parties say they will look to revise the deal.

http://caseyresearch.com/displayDrp.php

[Videomart]

GLOBAL ECONOMY IMPROVING?
Investment in world's largest copper mining countries to pick up again this year

Mining investment in Chile and Peru is expected to recover this year
as global financial turbulence eases and metals prices start to climb.
Author: Magdalena Morales
Posted: Saturday , 28 Mar 2009

http://mineweb.net/mineweb/view/mineweb/en/page36?oid=80989&…

[Videomart]

CHILEAN PROJECT DEVELOPMENT
Copper miner to raise $52mn in stock sale

Copper miner Quadra mining says it will raise USD52 million in a stock sale to pay down debt and complete development of its Franke project.

Posted: Saturday , 21 Mar 2009

TORONTO (Reuters) -

Quadra Mining (QUA.TO: Quote) said on Friday it will raise at least C$65.1 million ($52 million) in a stock sale and use the proceeds pay to down debt and to complete development of the Franke project in Chile, which Quadra is in the process of acquiring.

Quadra, which mines mainly copper, said it will sell the shares through a bought deal with a syndicate of underwriters led by Macquarie Capital Markets.

It will sell 14 million shares at C$4.65 each, a 7.3 percent discount to its price of C$5.02 on the Toronto Stock Exchange prior to the news. Quadra could raise another C$9.8 million if an over-allotment option is exercised.

After trading resumed, Quadra dropped to C$4.83, down 53 Canadian cents on the day.

Quadra agreed to buy Centenario Copper (CCT.TO: Quote) in February to acquire Franke. The all-stock deal, expected to close in May, is worth just under C$70 million at Friday's prices.

The bought deal, which is conditional on the success of the Centenario acquisition, comes as base metals miners have struggled to raise funds due to weak metals prices and tight credit markets.

Several gold miners, in contrast, have raised funds through equity sales or debt issues in recent months.

While Quadra mines primarily copper, it also produces a modest amount of gold from its Robinson mine in Nevada. Quadra produced 160 million pounds of copper and 138,000 ounces of gold last year.

($1=$1.24 Canadian) (Reporting by Cameron French; Editing by Frank McGurty)


http://mineweb.net/mineweb/view/mineweb/en/page36?oid=80613&…

[Videomart]

Copper may surge on positive US data
Dilip Kumar Jha / Mumbai
March 29, 2009, 0:34 IST
http://www.business-standard.com/india/storypage.php?autono=…

[Videomart]

Chinese buying spree sparks fears of base metal shortage in Asia

Tokyo (Platts)--27Mar2009

Robust Chinese demand could result in a supply shortage of base metals in
Asia even as the rest of the world grapples with low demand, market sources
said this week.
Japanese copper smelters producing a total 120,000 mt/month of copper
cathode have sold out of April-May shipments. Two smelters producing
20,000-40,000 mt/month each said they may be able to offer spot cargoes in
June.
A third smelter, slightly larger than these two, has chalked up an even
more impressive feat, selling out all shipments until September, various
sources said. However, a company spokesman refuted this to Platts.
A Japanese trader, who competes with the third smelter for sales in
China, said the smelter had made a late entry into the Chinese market.
It became noticeably active only in February but in the six weeks since, has
secured six months' worth of business.
"It was a latecomer, but has been able to ride the wave immediately," the
trader said.
A source at another smelter competing for Chinese business said his rival
had no choice but to push for exports to China as it had weaker ties with
Japanese cable makers and rolling mills than other smelters.
A source engaged in sales at the third smelter, who declined to be
named, said exports had surged due to strong copper cable demand for power and
communication infrastructure in China but added, "We may have pushed a little
too hard to achieve sales."
As copper supply in Japan becomes harder to secure, Japanese traders have
turned to Chilean producers, only to be told they are also sold out until
July.
"In addition, South Korean, Taiwanese and other Asian consumers are also
coming out to buy spot cargoes. They had cut back their contract purchases for
the current year and after the first quarter, now realize they cut too much,"
the third Japanese smelter source said.
Asia's copper market has tightened as a result, sources said. Premiums
for Japanese copper for prompt shipment within 60 days have risen to $150/mt
plus London Metal Exchange cash CIF Shanghai this month, from $80-100 mt/plus
LME CIF Shanghai in February.
There is no shortage yet, and no copper consumer in Asia has yet been
forced to curtail production of coils or cables due to a shortage of copper
feedstock, sources said.
But if demand in recession-hit Japan does start to pick up unexpectedly,
Asia may suffer shortages, impacting smaller consumers in particular that have
no protection from long term contracts.
Japan produced only 35,250 mt of rolled copper products in February, the
lowest monthly total since January 1975, according to Japan Copper & Brass
Association data.
Association research analyst Tetsuji Tejima said output was expected to
stay at a three decade low until at least April. Japanese smelter and trade
sources said while they were hoping for an early recovery by Japanese
industries, it would likely result in a shortage of copper.
Japanese industry sources also hoped Asian copper smelters would schedule
annual plant maintenance later in the year, and that there are no shutdowns in
the meantime due to strikes or accidents.
They are also on alert for signs the Chinese buying spree is starting to
slow as London Metal Exchange copper prices rise on the back of the Chinese
demand.


http://www.platts.com/Metals/News/7539506.xml?sub=Metals&p=M…

[Videomart]

Kupfer legt bestes Quartal seit 9 Jahren vor31.03.2009 | 11:00 Uhr | Rainer Hahn (EMFIS)

RTE London - (www.rohstoffe-go.de) - Der Kupferpreis zeigt sich heute in London wieder kräftiger, trotz der schwachen Ergebnisse in Shanghai, wo der Juni-Kontrakt heute um 2,2 Prozent auf 32.750 Yuan (4.792 USD) je Tonne verlor. In London steigt Kupfer aktuell um 2,47 Prozent auf 4.016 USD/Tonne. Der Kupferpreis bewegt sich derzeit in Richtung des besten Quartals, dass der Kupferpreis seit dem Jahr 2000 verzeichnete.

Bei den anderen Industriemetall ging es für Zink um 1,05 Prozent auf 1.335 USD nach oben, Aluminium steigt um 0,8 Prozent auf 1.435 USD, Blei kann um 1,2 Prozent auf 1.263 USD zulegen und Nickel um 0,37 Prozent auf 9.610 USD.

http://www.rohstoff-welt.de/news/artikel.php?sid=12355

[Videomart]

Copper
Exclusive Interview With the “King of Copper” Reveals “…Copper to climb 34% to 61%”
Andrew Mickey
28 March 2009 / 03:02 pm EST
http://ibtimes.com/articles/20090328/exclusive-interview-wit…

[Videomart]

Xstrata May Seek Copper Acquisitions After ‘Collapse’ (Update1)

By Heather Walsh

April 1 (Bloomberg) -- Xstrata Plc, the world’s fourth- largest copper miner, said it may buy other producers after a ”collapse” in equities slashed the cost of potential targets.

A lack of financing for small- and mid-sized companies is creating opportunities for Xstrata that were previously “closed off” when equities were soaring, Xstrata Copper Chief Executive Officer Charlie Sartain said yesterday in an interview.

Acquisitions may help Xstrata double copper output and take advantage of stronger demand once a financial crisis ends. The Zug, Switzerland-based company raised 4.1 billion pounds ($5.9 billion) in a share sale last month and may use those funds to help finance purchases in copper or other commodities, he said.

“We’d certainly be looking at acquisitions as part of growth,” he said. “We’re looking at shifting our focus.”

Xstrata advanced 2.75 pence, or 0.6 percent, to 469.5 pence at 11:46 a.m. in London trading, taking this year’s gain to 30 percent. The Bloomberg Europe Metals & Mining Index, which tracks 13 companies in the region, was down 1.6 percent today.

Xstrata’s copper production will be little changed this year at about 950,000 tons, while the company wants to increase output to about 2 million tons. Unlike larger competitors such as BHP Billiton Ltd. and Freeport-McMoRan Copper & Gold Inc., Xstrata hasn’t cut output of the metal this year after a 57 percent drop in copper prices from a May record.

The “long-term” outlook for copper hasn’t fallen as much as the share prices of some companies, making assets “more attractive,” Sartain said in Santiago.

U.S. Demand

There are “small- to mid-sized companies that will be substantially constrained in their capacity to grow,” he said.

U.S. demand for copper may have hit bottom amid the global economic crisis, Jose Pablo Arellano, chief executive officer of Codelco, the world’s biggest copper-mining company, said yesterday in Santiago. There are signs that demand may stop falling in the U.S. as government spending helps to boost use of the metal. China, the world’s largest consumer, is showing a “dynamism” in its demand for copper, he said.

Copper has gained 31 percent in three months, the second- best performer after gasoline among 19 raw materials tracked by the RJ/CRB commodity index. The metal, used in copper and wiring, has proved to be “resilient” compared with other metals during the global economic crisis, Sartain said.

Xstrata’s output slid 3 percent to 952,426 tons of copper in 2008 from the year earlier, according to its Web site.

Copper futures for delivery in May yesterday rose 7.85 cents, or 4.4 percent, to $1.8445 a pound on the Comex division of the New York Mercantile Exchange. The metal marked its largest quarterly jump since 2006.

While there has been a “significant” drop in copper supplies, supply will outpace demand this year, Sartain said. Recent gains won’t be enough to encourage companies to resume production that was cut as prices slumped, he said.

To contact the reporter on this story: Heather Walsh in Santiago at [e-mail]

Last Updated: April 1, 2009 07:07 EDT


http://www.bloomberg.com/apps/news?pid=20601087&sid=aGBJqPFI…

[Videomart]

BROAD TRENDS SUPPORT HIGHER PRICES
Electrifying future for copper in long run
Global copper prices should rise again on the back of the electric energy sector growth in the developing world.

Author: Terry Wade
Posted: Friday , 03 Apr 2009

SANTIAGO (Reuters) -

The worst of death-defying drops that global copper prices took in the past year appear to be over and, in the long run, prices should rise again on the back of electric energy sector growth in the developing world.

But the outlook for the short and medium terms is more opaque as global leaders try to revive national economies with massive stimulus packages. And the scrap market may hold a wild card as all this plays out.

After tumbling from highs of over $4 per pound last July to a low of $1.25 in December, prices recovered steadily in recent months and surged this week to $1.90 a lb on short-covering by traders and purchases by China.

That has given industry leaders a momentary sigh of relief. There is a view that prices will ease a bit in the middle of this year to $1.50 a lb but then head upward again as the basic fundamentals of the industry hold constant -- with China driving demand and Chile leading supply.

For the second half of this year, the market will face especially dicey variables, including whether fiscal stimulus packages will work, how much inflation central banks will create with aggressive monetary easing, and when credit markets will return to normal to fund mineral purchases and the construction of new mines.

"The question for the third quarter will be: is demand still falling and is short-covering over," Jim Southwood, president of price risk management for CRU, told Reuters at the CRU/CESCO copper conference in Santiago that was held this week.

This year, there is an especially wily factor in play: scrap metal.

A severe contraction in the global scrap market has supported copper prices as so-called urban miners gather less second-hand metal for refining amid the price slump.

Scrap copper accounted for nearly a third of the world copper market during the peak in demand in mid-2008.

Copper scrap acts like a buffer: when prices reached record highs in July 2008, scrap supply helped keep them from rising further and the plunge in scrap supplies helped support prices when they fell in December.

"I'd guess as much as 80 percent of the high-end scrap market has disappeared since last year," said Carlos Risopatron, head of environment and economics at the United Nations-linked International Copper Study Group (ICSG).

NEW MARKETS, NEW TECHNOLOGIES

With the outlook for the rest of the year cloudy, unbridled optimists are looking at the long-term.

Gianni Kovacevic of Petaquilla Metals said that broad trends support higher prices.

Urbanization and growth in electric energy generation, transmission and distribution in the developing world will boost demand for the metal. This in turn will have the added effect of intensifying sales of copper-intensive appliances like refrigerators and air conditioners.

The industry is also carving out new markets for the metal. Miners say there is a huge opportunity to use copper for its anti-bacterial qualities in hospital, doorknobs and beds.

The spread of hybrid and electric cars, wind farms and solar energy plants also bodes well for copper usage, he said.

"The majority of the world's population still isn't electrified," Kovacevic pointed out.

Robert Friedland, president of Ivanhoe Nickel and Platinum, told miners to ignore the current bad news and expand.

"The pace of urbanization and electrification will overwhelm this crisis," he said. "The winners of this game will be Chile, Mongolia and Congo," he said of the countries with the most promising copper reserves.

"Cheer up, there's no need to cry in your beer," Friedland told a packed conference room at this week's annual CRU in Santiago, the world's largest gathering of copper industry leaders. (Additional reporting by Reese Ewing, Pav Jordan and Manuel Farias; Editing by John Picinich)

http://mineweb.net/mineweb/view/mineweb/en/page36?oid=81387&…

[Videomart]

Fundamental View on Metal Markets Part III - Gold Leading the Way on Recovery in All Metals

By Larry W. Reaugh
Apr 1 2009 8:50AM

http://www.kitco.com/ind/Reaugh/mar012009.html

[Videomart]

Copper’s Declining Demand Pushes Prices 21% Lower (Update2)

By Claudia Carpenter, Millie Munshi and Anna Stablum

April 6 (Bloomberg) -- Copper, this year’s best industrial- metal investment, may become the worst in the second quarter as demand slumps the most in three decades.

Known as the commodity with an economics Ph.D., copper risks losing its reputation as an industrial barometer because prices rose 40 percent by April 3, the best start to a year since at least 1986, just as the global economy contracted for the first time since World War II, according to data compiled by Bloomberg. Prices rose as China, the largest user, agreed to stockpile as much as 400,000 metric tons, based on Macquarie Group Ltd. estimates, enough to fill 18 Olympic swimming pools.

Copper will average $3,400 a ton this quarter, 21 percent below the April 3 closing price of $4,301 on the London Metal Exchange, according to the median estimate of 13 analysts surveyed by Bloomberg. U.S. manufacturing contracted for 14 consecutive months, Japan’s Tankan survey of business sentiment fell to the lowest on record and euro-region unemployment rose to the highest level in almost three years.

“We’re running out of impetus here,” said Sean Corrigan, who helps manage about $5 billion in commodities at Diapason Commodities Management SA in Lausanne, Switzerland. “We’re not building houses anywhere in the world, car sales are down by 50 to 60 percent in the major economies and commercial real estate is running into problems.”

U.S. Homebuilders

Consumption will shrink 9.2 percent in 2009, the biggest drop since 1975, according to Sydney-based Macquarie. New autos in the U.S. sold at an annual rate of 9.86 million units in March, compared with an average of 16.8 million this decade through 2007, according to Autodata Corp. of Woodcliff Lake, New Jersey. The average car contains 2 kilometers (1.2 miles) of copper and alloy cables.

Confidence among U.S. homebuilders in March stayed near a record low, the National Association of Home Builders/Wells Fargo index showed. Developers use about 400 pounds of copper pipes, wire and related goods in a typical American house.

“Copper is very expensive, relative to the collapse in industrial demand,” said Lars Steffensen, managing director at Southend-on-Sea, England-based hedge fund Ebullio Capital Management LLP. Copper should fall to $2,500 a ton because there’s no shortage, said Steffensen, whose $13 million fund has risen 31 percent since opening to outside investors in August.

Commodity Futures

Global copper stockpiles tripled to about 567,000 tons since July, according to combined figures reported by the London Metal Exchange, New York Mercantile Exchange and the Shanghai Futures Exchange as of April 3. That’s equal to more than 12 days of global demand.

Hedge-fund managers and other large speculators increased their net-short position in New York copper futures by 0.6 percent in the week ended March 31, according to U.S. Commodity Futures Trading Commission data. Speculative short positions, or bets prices will fall, outnumber long positions by 18,525 contracts. The average since copper peaked in May has been a net short position of about 12,000 contracts.

Prices rose partly because of China’s purchases for stockpiles, said Stephen Briggs, an analyst at RBS Global Banking & Markets in London.

The Beijing-based State Reserve Bureau took advantage of the 54 percent price decline in 2008 to agree to buy 300,000 to 400,000 tons of copper, according to Macquarie, which forecasts a surplus of 936,000 tons in 2009. A decline in manufacturing contributed to a slump in inventories of scrap, the Brussels- based European Metal Trade and Recycling Federation said.

Reducing Purchases

Copper’s 51 percent increase to April 3 from Dec. 24, when prices reached a four-year low, probably means China is reducing purchases, said Briggs. “I am pretty confident that the SRB is not buying at $4,000,” he said.

Morgan Stanley says copper is the industrial metal most likely to drop in the second half of 2009. Buying by China may have ended, demand is sagging and producers haven’t been aggressive enough in shutting mines, New York-based Hussein Allidina and three of his colleagues said in an April 2 report.

The forecast for a 21 percent drop in copper compares with declines of 14 percent for zinc and 9 percent for lead, and gains of 8 percent for tin and 30 percent for uranium, according to analyst estimates compiled by Bloomberg. Percentages were calculated on the basis of April 3 prices.

Some producers are more optimistic. Charlie Sartain, chief executive officer of Xstrata Copper, a unit of the world’s fourth-largest producer, said last week the Zug, Switzerland- based group may buy other mining companies to help double output and prepare for a rebound in demand.

U.S. Demand

Jose Pablo Arellano, CEO of Santiago, Chile-based Codelco, the world’s biggest copper miner, said on March 31 that U.S. demand may have bottomed. Chilean Mining Minister Santiago Gonzalez said last week that December’s lows are “in the past” as Chinese demand rebounds. Chile is the largest copper- producing nation. Copper fell 0.8 percent to $4,266.50 a ton as of 5:15 p.m. on the LME.

Freeport-McMoRan Copper & Gold Inc.’s Richard Adkerson, chief executive officer of the world’s largest publicly traded copper producer, said April 2 it’s too early to reverse cuts made in 2008. The New Orleans-based company is expected to report first-quarter net income of $36 million, compared with $1.19 billion a year earlier, according to the median of six analyst estimates compiled by Bloomberg.

The 82-member Bloomberg World Mining Index, led by Melbourne-based BHP Billiton Ltd., plunged 56 percent in the 12 months through April 3.

Housing Market

Even a turnaround in the housing market may not be enough to stir demand. The number of unsold homes in the U.S. at the end of February equaled 9.7 months of sales, based on current transaction rates, according to the National Association of Realtors. Home prices in 20 U.S. cities plummeted 19 percent in January from a year earlier, the fastest drop on record, the S&P/Case-Shiller home-price index shows.

The number of Americans signing contracts to buy previously owned homes rose 2.1 percent in February, the National Association of Realtors said April 1.

“The last two weeks have shown improvement but I still think that we have an economy that has some issues,” Joel Rassman, chief financial officer at Horsham, Pennsylvania-based Toll Brothers Inc., the largest U.S. builder of luxury homes, said April 1 in an interview with Bloomberg Television.

The prospects of trillions of dollars of government spending on roads, bridges and public works projects to revive growth bolstered commodities in the first quarter.

Developing Markets

“Money poured into copper and the industrial commodities on the assumption that growth in the developing markets would come back sooner rather than later,” said Peter Sorrentino, who helps manage $13.3 billion at Huntington Asset Advisors in Cincinnati. “That has gotten a little overdone. The stimulus packages aren’t going to have a real impact until 2010.”

U.S. gross domestic product is expected to shrink 2.5 percent in 2009 and expand 1.8 percent in 2010, according to a Bloomberg survey of economists. The eurozone economy will contract 2.9 percent this year and expand 0.5 percent in 2010.

World industrial production will drop 7.4 percent in 2009, paced by an 18 percent decline in Japan, almost 13 percent in Europe and 10 percent in the U.S., according to Macquarie. It will expand 2.9 percent in 2010, the bank predicts.

“We think we could see a pretty significant selloff in the next quarter,” Sorrentino said. “Until we see demand start to turn around and stockpiles disappear, the prices will remain under pressure.”

To contact the reporters on the story: Millie Munshi in New York at [e-mail]; Anna Stablum in London at [e-mail]; and Claudia Carpenter in London at [e-mail]

http://www.bloomberg.com/apps/news?pid=20601087&sid=abPKnWcz…

[Videomart]

Hier prallen Welten aufeinander, soll sich doch jeder seine eigene Meinung bilden...


Chinese buying revitalizes copper price
Up 30% in 2 months

Peter Koven, Financial Post
Published: Friday, April 03, 2009

Could the worst really be over for the base metals? According to the experts, maybe not.

In the past few weeks, as some glimmers of economic recovery have filtered into the markets, the price of copper has taken a noticeable move to the upside -- it is up about 30% in the last two months, closing at US$1.87 a pound yesterday.

That is nowhere near the spectacular highs above US$4 a pound that were reached last year, when stories of people ripping roofs off churches or stripping copper wire out of abandoned buildings became routine. It is nonetheless an impressive move, and the copper equities have followed it with spectacular rallies this year. Shares of Canadian copper miners like Inmet Mining Corp. (IMN/TSX), Quadra Mining Ltd. (QUA/TSX), Lundin Mining Corp. (LUN/TSX), and First Quantum Minerals Ltd. (FM/TSX) have tripled from their lows last December.

Copper is the flagship base metal, and is often called "Dr. Copper" because of its ability to forecast the state of the economy in general and the metal markets in particular. But none of the other base metals have followed copper's recent rally, and industry experts do not expect that it will have very long legs.

Put simply, copper is up because the Chinese are loading up on strategic reserves as they begin to spend billions on infrastructure projects. Reports suggest that China alone has bought about 300,000 tonnes in recent weeks, and the result is the first notable decline in inventories on the London Metals Exchange since last summer.

Derek White, executive vice-president of business development at Quadra, said that a lot of the scrap metal that China was using during the boom times has disappeared from the market. Now it is trying to make up for its shortfall.

"My own personal view is this shorter-term buying has really been more of a restocking exercise, and trying to come to grips with the scrap situation," he said.

Augmenting that is a growing realization that China cannot just go and buy all the copper assets it wants. Last week, the Australian government blocked the Chinese purchase of the Prominent Hill mine for national security reasons.

Copper is also getting increased interest as an inflation hedge.

But none of this has much to do with the fundamental demand picture. Orest Wowkodaw, an analyst at Canaccord Adams, said in an interview that he has not seen "any real evidence" of a recovery on the demand side. Canaccord has downgraded some of the rallying copper stocks recently for that reason.

"We recognize there's a lot of momentum on the upside, and we're just trying to balance the inflation hedge and the stockpiling versus what's really happening on a fundamental basis, which doesn't look very good at the moment," he said.

When demand returns, there is hope that the move upward could be dramatic. Copper inventories are still paper-thin compared to other base metals. And mine supply will have trouble keeping up with demand now that the scrap processing market is almost gone.

"I think you may see copper drift down a little or move sideways in the shorter-term, but in the next 12 months I think you'll see it [move up] again," Mr. White said.

And as for the other base metals, industry experts see little hope for a significant short-term rally. Zinc, aluminum and nickel are still in over-supply situations, and many of the mines and smelters that are still running are losing money.

[e-mail]


http://www.financialpost.com/story.html?id=1458244

[Videomart]

Copper’s Declining Demand Pushes Prices 21% Lower

By Claudia Carpenter, Millie Munshi and Anna Stablum

April 6 (Bloomberg) -- Copper, this year’s best industrial- metal investment, may become the worst in the second quarter as demand slumps the most in three decades.

Known as the commodity with an economics Ph.D., copper risks losing its reputation as an industrial barometer because prices rose 40 percent by April 3, the best start to a year since at least 1986, just as the global economy contracted for the first time since World War II, according to data compiled by Bloomberg. Prices rose as China, the largest user, agreed to stockpile as much as 400,000 metric tons, based on Macquarie Group Ltd. estimates, enough to fill 18 Olympic swimming pools.

Copper will average $3,400 a ton this quarter, 21 percent below the April 3 closing price of $4,301 on the London Metal Exchange, according to the median estimate of 13 analysts surveyed by Bloomberg. U.S. manufacturing contracted for 14 consecutive months, Japan’s Tankan survey of business sentiment fell to the lowest on record and euro-region unemployment rose to the highest level in almost three years.

“We’re running out of impetus here,” said Sean Corrigan, who helps manage about $5 billion in commodities at Diapason Commodities Management SA in Lausanne, Switzerland. “We’re not building houses anywhere in the world, car sales are down by 50 to 60 percent in the major economies and commercial real estate is running into problems.”

U.S. Homebuilders

Consumption will shrink 9.2 percent in 2009, the biggest drop since 1975, according to Sydney-based Macquarie. New autos in the U.S. sold at an annual rate of 9.86 million units in March, compared with an average of 16.8 million this decade through 2007, according to Autodata Corp. of Woodcliff Lake, New Jersey. The average car contains 2 kilometers (1.2 miles) of copper and alloy cables.

Confidence among U.S. homebuilders in March stayed near a record low, the National Association of Home Builders/Wells Fargo index showed. Developers use about 400 pounds of copper pipes, wire and related goods in a typical American house.

“Copper is very expensive, relative to the collapse in industrial demand,” said Lars Steffensen, managing director at Southend-on-Sea, England-based hedge fund Ebullio Capital Management LLP. Copper should fall to $2,500 a ton because there’s no shortage, said Steffensen, whose $13 million fund has risen 31 percent since opening to outside investors in August.

Commodity Futures

Global copper stockpiles tripled to about 567,000 tons since July, according to combined figures reported by the London Metal Exchange, New York Mercantile Exchange and the Shanghai Futures Exchange as of April 3. That’s equal to more than 12 days of global demand.

Hedge-fund managers and other large speculators increased their net-short position in New York copper futures by 0.6 percent in the week ended March 31, according to U.S. Commodity Futures Trading Commission data. Speculative short positions, or bets prices will fall, outnumber long positions by 18,525 contracts. The average since copper peaked in May has been a net short position of about 12,000 contracts.

Prices rose partly because of China’s purchases for stockpiles, said Stephen Briggs, an analyst at RBS Global Banking & Markets in London.

The Beijing-based State Reserve Bureau took advantage of the 54 percent price decline in 2008 to agree to buy 300,000 to 400,000 tons of copper, according to Macquarie, which forecasts a surplus of 936,000 tons in 2009. A decline in manufacturing contributed to a slump in inventories of scrap, the Brussels- based European Metal Trade and Recycling Federation said.

Reducing Purchases

Copper’s 51 percent increase to April 3 from Dec. 24, when prices reached a four-year low, probably means China is reducing purchases, said Briggs. “I am pretty confident that the SRB is not buying at $4,000,” he said.

Morgan Stanley says copper is the industrial metal most likely to drop in the second half of 2009. Buying by China may have ended, demand is sagging and producers haven’t been aggressive enough in shutting mines, New York-based Hussein Allidina and three of his colleagues said in an April 2 report.

The forecast for a 21 percent drop in copper compares with declines of 14 percent for zinc and 9 percent for lead, and gains of 8 percent for tin and 30 percent for uranium, according to analyst estimates compiled by Bloomberg. Percentages were calculated on the basis of April 3 prices.

Some producers are more optimistic. Charlie Sartain, chief executive officer of Xstrata Copper, a unit of the world’s fourth-largest producer, said last week the Zug, Switzerland- based group may buy other mining companies to help double output and prepare for a rebound in demand.

U.S. Demand

Jose Pablo Arellano, CEO of Santiago, Chile-based Codelco, the world’s biggest copper miner, said on March 31 that U.S. demand may have bottomed. Chilean Mining Minister Santiago Gonzalez said last week that December’s lows are “in the past” as Chinese demand rebounds. Chile is the largest copper- producing nation. Copper fell 0.8 percent to $4,266.50 a ton as of 5:15 p.m. on the LME.

Freeport-McMoRan Copper & Gold Inc.’s Richard Adkerson, chief executive officer of the world’s largest publicly traded copper producer, said April 2 it’s too early to reverse cuts made in 2008. The New Orleans-based company is expected to report first-quarter net income of $36 million, compared with $1.19 billion a year earlier, according to the median of six analyst estimates compiled by Bloomberg.

The 82-member Bloomberg World Mining Index, led by Melbourne-based BHP Billiton Ltd., plunged 56 percent in the 12 months through April 3.

Housing Market

Even a turnaround in the housing market may not be enough to stir demand. The number of unsold homes in the U.S. at the end of February equaled 9.7 months of sales, based on current transaction rates, according to the National Association of Realtors. Home prices in 20 U.S. cities plummeted 19 percent in January from a year earlier, the fastest drop on record, the S&P/Case-Shiller home-price index shows.

The number of Americans signing contracts to buy previously owned homes rose 2.1 percent in February, the National Association of Realtors said April 1.

“The last two weeks have shown improvement but I still think that we have an economy that has some issues,” Joel Rassman, chief financial officer at Horsham, Pennsylvania-based Toll Brothers Inc., the largest U.S. builder of luxury homes, said April 1 in an interview with Bloomberg Television.

The prospects of trillions of dollars of government spending on roads, bridges and public works projects to revive growth bolstered commodities in the first quarter.

Developing Markets

“Money poured into copper and the industrial commodities on the assumption that growth in the developing markets would come back sooner rather than later,” said Peter Sorrentino, who helps manage $13.3 billion at Huntington Asset Advisors in Cincinnati. “That has gotten a little overdone. The stimulus packages aren’t going to have a real impact until 2010.”

U.S. gross domestic product is expected to shrink 2.5 percent in 2009 and expand 1.8 percent in 2010, according to a Bloomberg survey of economists. The eurozone economy will contract 2.9 percent this year and expand 0.5 percent in 2010.

World industrial production will drop 7.4 percent in 2009, paced by an 18 percent decline in Japan, almost 13 percent in Europe and 10 percent in the U.S., according to Macquarie. It will expand 2.9 percent in 2010, the bank predicts.

“We think we could see a pretty significant selloff in the next quarter,” Sorrentino said. “Until we see demand start to turn around and stockpiles disappear, the prices will remain under pressure.”

To contact the reporters on the story: Millie Munshi in New York at [e-mail]; Anna Stablum in London at [e-mail]; and Claudia Carpenter in London at [e-mail]


http://www.bloomberg.com/apps/news?pid=20601087&sid=abPKnWcz…

[Videomart]

Copper Jumps in Shanghai on Demand Outlook Optimism, Oil’s Gain

By Richard Dobson

April 9 (Bloomberg) -- Copper advanced in Shanghai as crude oil rose for a second day, prompting some investors to buy the base metal as part of the commodity asset class.

Futures rose as oil gained after a U.S. government report showed a smaller inventory increase compared with industry estimates. Prices also gained amid optimism Chinese government stimulus spending will boost demand from the power industry in the world’s largest user of the metal.

“The strong performance of Shanghai copper is a result of higher oil prices and expectation for more demand from both the government and the private sector,” said Wu Tianmin, an analyst at BOC International Futures Co. in Shanghai.

The most actively traded July-delivery contract in Shanghai rallied as much as 4.6 percent to 36,910 yuan ($5,400) a ton and closed at 36,800 yuan at 3:00 p.m. local time. Crude oil traded in New York rose as much as 3.5 percent to $51.11 a barrel today.

Copper, the best performer on the London Metal Exchange, has climbed 45 percent this year on speculation the worst of the global recession has passed. China’s imports of the metal jumped 71 percent to 451,438 tons in the first two months from a year ago, customs data showed.

China’s economic growth will be as much as 8 percent this year, according to Macquarie Securities Ltd., 1 percentage point more than its previous forecast. The Chinese government’s 4 trillion yuan stimulus plan has driven investment back to levels before the global economic crisis, fuelled rebounds in electricity and steel output, and restored consumer confidence, the World Bank said April 7.

Long Positions

“Investors have been adding to their long positions lately with a view that demand seems strong in the short term,” Minmetals StarFutures Co. analyst Li Ling said by phone today. Long positions are bets that prices will rise. Copper for spot delivery in Shanghai was quoted at a premium of 900 yuan ($132) a ton more than the April contract on the Shanghai Futures Exchange, Li said.

Copper for three-month delivery in London was 1.4 percent higher at $4,445 a ton. The metal rose to $4,459 a ton on April 6, the highest since Oct. 30.

China’s demand for refined copper also rose because supply of the scrap metal declined after copper prices tumbled 59 percent last year in Shanghai, BOC International’s Wu said.

“Some scrap users will have no choice but to turn to the refined metal,” he added.

China’s State Reserve Bureau has agreed to add as much as 400,000 tons of refined copper to its stockpiles in the second quarter, Macquarie Group Ltd. said March 23.

Among other LME-traded metals, aluminum rose 1 percent to $1,507 a ton, lead advanced 1.1 percent to $1,350 a ton. Zinc was 0.7 percent higher at $1,385 a ton and nickel was 0.7 percent higher at $11,055 a ton. Tin advanced 1.8 percent to $11,100 a ton as of 3:16 p.m. Shanghai time.

To contact the reporter on this story: Richard Dobson in Shanghai at [e-mail]

Last Updated: April 9, 2009 04:10 EDT

http://www.bloomberg.com/apps/news?pid=20601116&sid=a3qATkel…

[Videomart]

Copper and zinc prices have best chance for rebound
Aluminum and nickel prices have worst chance to rebound

By Tom Stundza -- Purchasing, 4/1/2009 12:13:00 PM

Copper and zinc are the base metals most likely to react fastest with higher prices to an eventual upturn in demand, according to a report by Barclays Capital. In the latest edition of their Commodity Refiner report, analysts at the London-based bank write: “We expect copper and zinc prices to be the first and the fastest to rebound once demand improves, while the losers, aluminum and nickel, will see prices recover the last and the least.”

But, while they believe the fiscal stimulus programs in play in the U.S., the European Union and China eventually will spur demand for nonferrous metals used in construction activities, they admit that probably won’t occur until 2010 or 2011. And they admit that copper and zinc metals also are facing the same potential supply-side challenges as aluminum and nickel--large surpluses at the mines and smelters and stockpiles at exchange warehouses.

Looking at their most-bullish forecast, Barclays is forecasting an average copper price of $1.82/lb this year, down from $3.16 in 2008 and rebounding to $2.49 in 2010 and $3.18 in 2011.

A separate survey by Macquarie Group of Sydney says that “commodity demand is in the eye of the storm and that there may not be too much further downside to global demand. Indeed, the falls in global industrial output are close to matching those witnessed in the very sharp and deep downturn in the mid-1970s. If the current cycle continues to track that of the mid-1970s, industrial output would bottom sometime over the next six months.”

However, with global demand not expected to recover until next year, and the rate of future growth uncertain, the Macquarie bank analysts say that copper demand will drop 9% this year and sees reduced demand for aluminum, nickel, zinc, lead and tin--suggesting that supply gluts could depress pricing overall through 2010.

Meanwhile, prices of commodities dropped for a third straight quarter, the longest losing streak since 2001, as demand for raw materials from crude oil to nickel shrank and producers failed to cut output fast enough, according to a Bloomberg report.

The Reuters/Jefferies CRB Index of 19 commodities fell 4% this quarter, adding to a 50% drop in the second half of 2008. Natural gas, nickel and wheat led the declines, overwhelming advances in gasoline, copper and hogs.

http://www.purchasing.com/article/CA6648526.html

[Videomart]

Falling stockpiles spur copper surge

CHRIS KELLY AND REBEKAH CURTIS
Reuters, April 9, 2009 at 4:23 PM EDT

NEW YORK, LONDON — Copper prices surged on Thursday to their highest levels since late October, driven by a sharp rally in global equities and inventory data showing more metal may be making its way to China.

“The inventory draw-downs are supporting copper prices, but the rally in equities today has added some fuel to the fire,” said Michael Gross, futures analyst with Optionsellers.com in Tampa, Florida.

Copper for May delivery on the New York Mercantile Exchange's Comex division shot up 7.25 cents (U.S.), or 3.6 per cent, to settle at $2.0710 a pound, its highest level on a closing basis since Oct. 29.

The price of the metal, used widely in power and construction, is up more than 48 per cent since the start of the year.

“We have a nice-looking uptrend in copper right now,” Mr. Gross said. “I think current trends hint that the funds are building some long positions.”

Benchmark copper on the London Metal Exchange rose to a session peak at $4,564 a tonne, its highest level since Oct. 30, before closing at $4,550, up $150 from Wednesday's close.

“Metal is being pulled from LME warehouses into China,” said Citigroup analyst David Thurtell. “There are a few more green shoots [of recovery] coming out.”

Analysts say copper is heading for China, the world's largest consumer, because of a price premium in Shanghai over LME prices – about $1,200 a tonne.

“People can earn a pretty decent margin by taking material out of LME warehouses and selling it into China,” Gayle Berry, an analyst at Barclays Capital, said.

“There has been some consumer restocking and there is tightness in the scrap market, but not enough to account for the sheer volumes of metal going to China.”

Analysts said Chinese imports of refined copper could touch the 300,000-tonne level for the first time, surpassing the all-time high of 270,948 tonnes in February.

Stocks of copper in LME warehouses fell 7,425 tonnes to 496,775 tonnes, the lowest in nearly three weeks.

Cancelled warrants, or metal earmarked for delivery, rose to 62,575 on Wednesday – more than 12 per cent of total stocks – compared with 59,825 the previous day.

Many of the cancelled warrants are now in European warehouses, such as Rotterdam in the Netherlands.

Falling freight rates from Europe to Asia are boosting the premium for material in China.

The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, has been falling. It has tumbled to 1,478 index points from 2,298 on March 10.

Lower freight costs have also raised the premium, at a record $650 a tonne, for aluminum in Shanghai over LME prices.

Cancelled warrants on LME aluminum stocks, at 93,500 tonnes, were down a touch from the previous day, but they compare with 10,575 tonnes in the middle of January.

Most are in Singapore, an indication they may be heading for China, the world's top consumer and producer.

However, LME stocks of aluminum, used in transport and packaging, rose to a record above 3.55 million tonnes, a gain of more than 50 per cent since January.

Aluminum closed at $1,536 a tonne, up from $1,492, after reaching $1,538, its highest since Jan. 12.

Zinc hit $1,405 a tonne, its highest since mid-October, and closed at $1,393, up from $1,370.

Lead was quoted at $1,401/1,403 a tonne, up from $1,335, having hit $1,414, its highest since early November. Analysts say the battery-making material has been helped by low stocks that, at around 60,000 tonnes, equate to less than three days' consumption.

Steel-making ingredient nickel was quoted at $11,040/11,045 a tonne, up from Wednesday's last bid at $10,970.

Tin was quoted at $10,995/11,000 a tonne, up from $10,900.

http://www.theglobeandmail.com/servlet/story/RTGAM.20090409.…

[Videomart]

Will copper ride on China wave continue?
2009-04-11 16:30:00

BEIJING: Did you hear talks about China becoming the super power beating the US in near future? If you haven’t, then this is the time to think on those lines.

It seems China is the only economy which is making the maximum use of the recession looming over the world at present.

Even though people talk about India emerging victorious from the slump at present, China is one country with surplus cash reserves which is using the recession to boost its economy in the coming years.

If you notice China’s copper buying only, it can give you a clear picture of what is in store.

And, in the process of continuous buying China also pushed the prices of copper up.

China’s imports of unwrought and semi-finished copper rose to 374,957 tonnes in March, 14 per cent higher than the previous record of 329,311 tonnes set in February.

China’s $585-billion in stimulus spending has fuelled rebounds in steel and electricity output and restored investment to rates that preceded the financial crisis.

Despite the global economic crisis, China has sucked in increasing volumes of refined copper in recent months, with a tight market causing spot prices to soar.

A shortage of copper scrap and buying by China’s State Reserves Bureau have forced the prices to shoot up now.

Chile, Japan, Australia and Europe have supplied the bulk of China’s copper imports in recent months.

Copper jumped 20 per cent in March, the biggest monthly gain since April, 2006, on speculation that government spending plans in the US and China would help revive global economic growth and boost demand for industrial metals.

On April 3, copper hit a five-month high of $4,300 a tonne for the LME 3-month price. However, all these soaring feeling in copper market is not enough o wash away the fears among investors.

There is widespread expectation that demand would decline by anything between 5 per cent and 10 per cent during 2009.

According to Barclays Capital, Europe is seen as possibly the weakest region at present with local suppliers indicating that their order levels from construction as also wire and cables sector were running 40-60 per cent down year-on-year.

In the US and Japan demand is collapsing. While macroeconomic factors have helped the price rally, the fundamentals are less positive.

There is the possibility of pullback by as much as 20 per cent from the current levels as the rally is fundamentally unsustainable.
However, in the longer term, the expectations are optimistic.

The ongoing urbanisation in emerging markets and use of copper for more efficient electricity usage (part of push towards greener economies) will be supportive.

http://www.commodityonline.com/news/Will-copper-ride-on-Chin…

[Videomart]

METALS-Shanghai copper 5 pct limit up on stong spot buys
Fri Apr 10, 2009 9:53am IST

By Alfred Cang

SHANGHAI, April 10 (Reuters) - Shanghai copper futures rose by their 5 percent daily limit on Friday, encouraged by strong spot buying in the world's top consumer on hopes of demand recovery and outlook of falling stockpiles.

The most active July contract SCFN9 rose to 38,130 yuan ($5,588) per tonne at the midday break, just off the 38,190 upper limit touched earlier, which was its highest since late October.

"The strong momentum on the Shanghai copper futures was due to active users' purchases in the physical market," said analyst Zhao Kai at Jinrui Futures.

"There is tightness in the scrap copper market, so users source more from refined copper," Cai Luoyi, analyst at China International Futures, added.

The premium for spot copper in Shanghai doubled to 900 yuan a tonne in the late morning session, traders said, lifting physical prices up more than 2,000 yuan to 41,900 yuan a tonne.

Rumours about a further stock decline of as much as 3,000 tonnes in warehouses monitored by the Shanghai exchange this week -- a possible stockpile reduction for the fifth week in a row -- lifted buyers' confidence.

In London, stocks of copper in London Metal Exchange warehouses fell 7,425 tonnes to 496,775 tonnes, the lowest in nearly three weeks. <LME/STX1>

Canceled warrants, or metal earmarked for delivery, rose to 62,575 on Wednesday -- more than 12 percent of total stocks -- compared with 59,825 the previous day.

"Some of the merchants feel the consecutive decline is a strong evidence of a demand pick-up," a Shanghai-based spot trader said,

Shanghai's most-traded July aluminium SAFN9 rose 1.2 percent to 13,190 yuan a tonne, while zinc SZNN9 increased 2.1 percent to 12,430 yuan, at the noon break.

Although price premiums in Shanghai over LME prices could secure import profits, analysts said the volumes of aluminium and zinc buying from London wouldn't offset huge Chinese output.

"We are a big producer and many smelters offer lower prices in the physical markets compared with futures prices. So how can the traders buy these physical metals from London and sell in China with a discount?" Jinrui Futures' Zhao said. Base metals prices at 0330 GMT Metal Last Change Pct Move End 2008 Pct chg 09 SHFE Cu* 38680.00 1390.00 +3.73 23840.00 62.25 SHFE Alum* 13355.00 190.00 +1.44 11540.00 15.73 SHFE Zinc 12415.00 245.00 +2.01 10120.00 22.68 Dollar/yuan 6.8331 \ 6.8341 ** 1st contract month for COMEX copper * 3rd contact month for SHFE aluminium, copper and zinc ^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE third month (Editing by Michael Urquhart)

http://in.reuters.com/article/domesticNews/idINSHA1721320090…

[Videomart]

Baltic Exchange Dry Index (BDI)
& Copper (brown)

[Videomart]

UPDATE 1-China March copper imports hit record 374,957 T
Fri Apr 10, 2009 6:31am EDT

* Imports rise on tight spot supply

* Chile, Japan, Australia, Europe supply bulk of imports

* Refined copper imports seen topping 300,000 tonnes in March

BEIJING, April 10 (Reuters) - China's imports of unwrought and semi-finished copper rose to 374,957 tonnes in March, 14 percent higher than the previous record of 329,311 tonnes set in February, China's customs office said on Friday.

"Imports rose because spot supply is tight, and imports of scrap copper were pretty low," said Lin Yuhui, an analyst at China International Futures.

Despite the global economic crisis, China has sucked in increasing volumes of refined copper in recent months, with a tight market causing spot prices CU-1-CCNMM to soar.

A shortage of copper scrap and buying by China's State Reserves Bureau have combined to drive up prices and make Chinese demand the most important factor in the world market.

Shanghai copper futures <0#SCF:> rose by their daily limit of 5 percent on Friday.

Chile, Japan, Australia and Europe have supplied the bulk of China's copper imports in recent months.

Analysts expect the total amount of refined copper imported into China to top 300,000 tonnes in March. Friday's figure included copper anode, refined copper and alloy, as well as semi-finished copper products. A detailed breakdown will be released later in the month.

To see a graphic of copper imports, please click on here:
http://graphics.thomsonreuters.com/apr09/CN_CPRIMP0409.jpg

The customs data also showed imports of unwrought aluminium and aluminium products more than doubled in March to 147,181 tonnes from 60,074 tonnes in February, while exports of unwrought aluminium slipped further, to 8,351 tonnes. (Editing by Jacqueline Wong)

http://www.reuters.com/article/rbssIndustryMaterialsUtilitie…

[Videomart]

aus
Business Line
Business Daily from THE HINDU group of publications
Monday, Apr 13, 2009


Base metals

The complex put up a strong performance with most metals trading higher. Lead was up 5.2 per cent and aluminium three per cent. Copper prices closed on Thursday at $4,529 a tonne, above $4,500/t for the first time since October 2008, spurred by lower stocks, cancelled warrants and strong equities.

On the negative side, the OECD composite leading indicators signal a further deterioration of economic activities in major countries. The deep slowdown in OECD area has spread to the emerging BRIC group as well. European data continue to deteriorate with decline in manufacturing activity. The relationship between economic activity and metals demand is well established.

From a fundamental perspective, the prices of many metals look overvalued. The rally is primarily the result of short-term non-fundamental factors.

Soon, a weak demand and rising inventory will catch up, making the rally unsustainable and eventually ripe for correction.

Aluminium could be at most risk of a price correction as recent higher prices have reportedly encouraged production restarts. On the other hand, copper has moved up with the support of Chinese buying and scrap tightness.

For copper the downside is better defined and the current factors may provide support from a big collapse. A 20 per cent decline in copper prices is seen as the worst case scenario.

Lead prices may turn softer because of seasonal demand weakness, while zinc is sure to find support at above $1,000/t. Nickel and tin have found short-term strength, but are at risk of eventually testing recent range lows.

According to technical analysts, aluminium has been chipping away at the 1,490/1,500 resistance area in recent days. This zone is expected to give way decisively, igniting further gains this week. Close above 1,500 is a bullish signal for the rest of the month.


Vollständiger Artikel:
http://www.thehindubusinessline.com/2009/04/13/stories/20090…

[Videomart]

Kupferpreis-Anstieg hilft Minenwerten
Dienstag, 14. April 2009, 12:31 Uhr

Frankfurt, 14. Apr (Reuters) - Dank eines erneuten Kupferpreis-AnstiegsMCU3 haben die europäischen Minenwerte am Dienstag kräftig zugelegt. Vedanta(VED.L: Kurs), Kazakhmys(KAZ.L: Kurs) und Xstrata(XTA.L: Kurs) gehörten mit Kursgewinnen von zehn bis 14 Prozent zu den Favoriten im FTSE.FTSE. Eine Tonne Kupfer kostete angesichts reger Nachfrage aus China am Vormittag bis zu 4840 Dollar je Tonne - so viel wie seit sechs Monaten nicht mehr. Die chinesische Nachfrage werde aber schon bald wieder nachlassen, warnte Commerzbank-Rohstoffexperte Eugen Weinberg. "Ich rechne bereits für das zweite Quartal mit fallenden Preisen."

(Reporter: Hakan Ersen; redigiert von Andrea Lentz)

http://de.reuters.com/article/deEuroRpt/idDELE23674720090414…

[Videomart]

CRU sees copper price rising by USD 100 per tonne in April
Tuesday, 14 Apr 2009

Commodity consultancy CRU said in its monthly report that most hedge funds by the end of April 2009 will likely have switched from their present short copper investment positions and go long, driving the price up some USD 100 per tonne from the present value of USD 4,230 per tonne.

It added that the sustained rises in copper in the first days of April so far have shown that Chinese buying has not subsided following heavy purchases by the state reserve bureau in March 2009. Also during March, the ongoing short-covering rally pushed the copper price up by roughly USD 350 per tonne, but the metal still had to recover from considerable negative pressure on prices the month before, according to the firm.

CRU said that a month ago it had predicted prices would rise but we underestimated the shift in investor sentiment that appears to have taken hold.

(Sourced from www.bnamericas.com)

http://steelguru.com/news/index/2009/04/14/OTAxOTA%3D/CRU_se…

[Videomart]

Shanghai copper futures resume rally after hiatus

By: Creamer Media Reporter
15th April 2009

SINGAPORE/SHANGHAI – Shanghai copper futures resumed their rally on Wednesday after a one-day hiatus, after a strong performance in London the previous day, with investors eyeing China GDP data due on Thursday.

Copper prices have rallied around 15 percent this month in London and Shanghai, spurred by a run of positive economic indicators, which were only interrupted by a 1.1 percent fall in sales data from U.S. retailers on Tuesday.

"Generally, I am lot more optimistic than I was a few weeks ago and I doubt we will retest the lows. Trading ranges have shifted higher and technically copper could target $5,500-$6,000 this year. But all this assumes we don't get any more downside shocks," MF Global analyst Edward Meir said.

"If we can get all parts of the system running together, this rally will be sustained. But if no one else joins the China-led party it may falter."

He said the market had probably discounted the risk of bankruptcy of one of the big U.S. automakers, and only another major bank collapse or a similar shock would drive prices back to the lows seen late last year and early 2009.

Three-month copper futures contract at the Shanghai Futures Exchange rose 2.4 percent from the previous day's close to 39,890 yuan a tonne by the end of morning trade, and earlier touched 40,510.

The most-active July contract rose 1.7 percent to 39,230 yuan.

London Metal Exchange copper eased 0.4 percent to $4,680 a tonne by 0412 GMT, following a 3.3 percent rally on Tuesday when the market surged as much as 8.2 percent to a six-month high of $4,925.

The premium for the third month Shanghai contract above the benchmark in London grew to 2,513 yuan a tonne, including China's 17 percent VAT, from 1,197 yuan on Tuesday.

"London did not fall as sharply as many had feared, assuaging market worries. So the positive atmosphere is again taking the upper hand in Shanghai," said Cai Luoyi, an analyst at China International Futures.

But analysts cautioned that the rally might not be sustainable, and prices needed to consolidate as economic activity has yet to show substantial signs of recovery.

China gross domestic product probably grew at its slowest annual rate on record in the first quarter, according to a local media report. But the quarter-on-quarter growth might point to a recovery in the world's third-largest economy.

Offical data is due on Thursday at 0200 GMT.

"It is likely that Shanghai copper will move in the range of 38,000 to 41,000 yuan a tonne in the short term, as it is in the process of building the base for further rises," said Zhu Yanzhong, an analyst with Jinrui Futures.

Copper inventories continued their decline. LME stockpiles dropped 4,775 tonnes to 492,000 tonnes, their lowest since the end of January.

Shanghai aluminium fell 0.6 percent to 12,960 yuan per tonne. LME aluminium fell $10 to $1,500.

"Some metals will struggle. Aluminium for example is facing huge headwinds from the rising stocks."

Aluminium stockpiles extended their march higher, rising by 100,100 tonnes to a new record above 3.6 million tonnes.

Edited by: Creamer Media Reporter

http://www.miningweekly.com/article/shanghai-copper-futures-…

[Videomart]

A 'Copper Standard' for the world's currency system?
Hard money enthusiasts have long watched for signs that China is switching its foreign reserves from US Treasury bonds into gold bullion. They may have been eyeing the wrong metal.

By Ambrose Evans-Pritchard
Last Updated: 2:41PM BST 16 Apr 2009

China's State Reserves Bureau (SRB) has instead been buying copper and other industrial metals over recent months on a scale that appears to go beyond the usual rebuilding of stocks for commercial reasons.

Nobu Su, head of Taiwan's TMT group, which ships commodities to China, said Beijing is trying to extricate itself from dollar dependency as fast as it can.

'Unhappy China' bestseller claims Beijing should 'lead the world'
The G20 moves the world a step closer to a global currency
China's growth more Occident than design
A world currency moves nearer after Tim Geithner's slip"China has woken up. The West is a black hole with all this money being printed. The Chinese are buying raw materials because it is a much better way to use their $1.9 trillion of reserves. They get ten times the impact, and can cover their infrastructure for 50 years."

"The next industrial revolution is going to be led by hybrid cars, and that needs copper. You can see the subtle way that China is moving into 30 or 40 countries with resources," he said.

The SRB has also been accumulating aluminium, zinc, nickel, and rarer metals such as titanium, indium (thin-film technology), rhodium (catalytic converters) and praseodymium (glass).

While it makes sense for China to take advantage of last year's commodity crash to restock cheaply, there is clearly more behind the move. "They are definitely buying metals to diversify out of US Treasuries and dollar holdings," said Jim Lennon, head of commodities at Macquarie Bank.

John Reade, metals chief at UBS, said Beijing may have a made strategic decision to stockpile metal as an alternative to foreign bonds. "We're very surprised by Chinese demand. They are buying much more copper than they will need this year. If this is strategic, there may be no effective limit on the purchases as China's pockets are deep."

Zhou Xiaochuan, the central bank governor, piqued the interest of metal buffs last month by calling for a world currency modelled on the "Bancor", floated by John Maynard Keynes at Bretton Woods in 1944.

The Bancor was to be anchored on 30 commodities - a broader base than the Gold Standard, which had caused so much grief in the 1930s. Mr Zhou said such a currency would prevent the sort of "credit-based" excess that has brought the global finance to its knees.

If his thoughts reflect Communist Party thinking, it would explain the bizarre moves in commodity markets over recent weeks. Copper prices have surged 49pc this year to $4,925 a tonne despite estimates by the CRU copper group that world demand will fall 15pc to 20pc this year as construction wilts.

Analysts say "short covering" by funds betting on price falls has played a role. But the jump is largely due to Chinese imports, which reached a record 329,000 tonnes in February, and a further 375,000 tonnes in March. Chinese industrial demand cannot explain this. China has been badly hit by global recession. Its exports - almost half GDP - fell 17pc in March.

While Beijing's fiscal stimulus package and credit expansion has helped lift demand, China faces a property downturn of its own. One government adviser warned this week that house prices could fall 50pc.

One thing is clear: Beijing suspects that the US Federal Reserve is engineering a covert default on America's debt by printing money. Premier Wen Jiabao issued a blunt warning last month that China was tiring of US bonds. "We have lent a huge amount of money to the US, so of course we are concerned about the safety of our assets," he said.

This is slightly disingenuous. China has the world's largest reserves - $1.95 trillion, mostly in dollars - because it has been holding down the yuan to boost exports. This mercantilist strategy has reached its limits.

The beauty of recycling China's surplus into metals instead of US bonds is that it kills so many birds with one stone: it stops the yuan rising, without provoking complaints of currency manipulation by Washington; metals are easily stored in warehouses, unlike oil; the holdings are likely to rise in value over time since the earth's crust is gradually depleting its accessible ores. Above all, such a policy safeguards China's industrial revolution, while the West may one day face a supply crisis.

Beijing may yet buy gold as well, although it has not done so yet. The gold share of reserves has fallen to 1pc, far below the historic norm in Asia. But if a metal-based currency ever emerges to end the reign of fiat paper, it is just as likely to be a "Copper Standard" as a "Gold Standard".

http://www.telegraph.co.uk/finance/comment/ambroseevans_prit…

[teresas]

Quadra Mining sichert sich 86,6 Mio. Dollar durch Bought-Deal
Leser des Artikels: 36

So genannte Bought-Deals sind derzeit insbesondere im Bergbausektor das Finanzierungsmittel der Wahl. Dabei veräußern die Unternehmen größere Aktienpakete an einen oder mehrere Broker, die diese – gegen eine Kommission – dann an institutionelle und private Investoren weiterverkaufen. So hat es beispielsweise Moto Goldmines (ISIN CA61981U1084 ) gemacht, die über einen Bought-Deal erst vor Kurzem rund 50 Millionen kanadische Dollar einnahm.



Nun geht auch Quadra Mining Ltd. (ISIN CA7473191012) diesen Weg. Der kanadische Kupfer- und Goldproduzent gab gestern bekannt, dass man insgesamt 18.630.000 Stammaktien zu einem Kurs von 4,65 kanadischen Dollar an ein Konsortium unter Leitung von Macquarie Capital Markets Canada und unter Beteiligung von Raymond James Ltd., BMO Capital Markets, GMP Securities L.P. und Paradigm Capital Inc. veräußert hat. Und damit einen Bruttoerlös von rund 86,63 Millionen kanadischen Dollar erzielt hat.

Wieder ein Finanzierungsdeal, an dem niemand aus dem Bankensystem verdient.

[Videomart]

RPT-METALS INSIDER:
Is copper losing its 'bellwether' status?
Wednesday April 15, 2009 03:20:58 EDT
http://jp.quote.com/news/story.action?id=AEF9041500000000y2

[Videomart]

[Videomart]

Switch from base metals to precious metals
Posted: April 16, 2009, 12:00 PM by Peter Koven

In a dramatic shift from the fall, the base metals have greatly outperformed the precious metals in recent weeks. Copper in particular is up more than 50% from the bottom. But can it really last? Genuity Capital Markets analysts Tony Lesiak, Nawojka Wachowiak and Michael Gray don't think so.

"We believe a sustained upward momentum is base metals is unlikely to persist until there is tangible evidence of a global synchronized recovery, and believe that investors should take some profits in the current rally," they wrote in a note to clients.

Their outlook for gold is a bit better, as they point out that U.S. dollar weakness, safe-haven buying and negative real interest rates all bode well for bullion.

All the same, they have reduced their targets on gold companies and increased them for base metal companies based on the recent shift in prices.

Their gold stock price targets were cut by an average of 9%, but they are still projecting an average return of 32% for the companies under their coverage. Based on valuation, they also downgraded Alamos Gold Inc.to "hold" (from "buy") and raised Golden Star Resources Ltd. to "buy" (from "hold").

On the base metal side, target prices were raised by an average of 14%. However, Lundin Mining Corp. was downgraded to "hold" (from "buy") because of its recent jump. The only base metal company rated a "buy" is Capstone Mining Corp.

Peter Koven

http://network.nationalpost.com/np/blogs/tradingdesk/archive…

[Videomart]

22.04.2009 16:02
Quadra Mining: Kursziel von 18,00 CAD bekräftigt

Nach einem Bericht der kanadischen Financial Post ist Analyst Tom Meyer von Raymond James trotz der jüngsten verwässernden Finanzierung sehr bullish für die Aktien des kanadischen Kupfer- und Goldproduzenten Quadra Mining Ltd. (ISIN CA7473191012). Meyer habe seine Kaufempfehlung („strong buy”) und sein Kursziel von 18 kanadischen Dollar pro Aktie erneut bestärkt.

Quadra habe erst vor Kurzem die Übernahme der Centenario Copper Corp. abgeschlossen, was das Unternehmen nach Ansicht von Meyer zu einem führenden, mittelgroßen Kupferproduzenten mit verbesserten Liegenschaften und einer verbesserten geografischen Streuung mache. Sobald Centenarios Franke-Projekt in Produktion gegangen sei, werde Quadra über drei aktive Minen in politisch stabilen Ländern verfügen.

Nach Ansicht des Experten würden die Quadra-Aktien derzeit mit einer Kurs-Substanzwert-Verhältnis von 0,21 gehandelt, während der Durchschnittswert für mittelgroße Kupferproduzenten bei 0,50 liege. Das Kursziel von 18 Dollar gehe von einem Wert von 0,70 aus, den Meyer nach Anpassungen für Liquidität und Risiko für gerechtfertigt halte. Dennoch habe Meyer seine Substanzwertschätzung zu Quadra auf Grund der jüngsten Finanzierung in Höhe von 86,6 Millionen Dollar von 30,29 auf 25,89 CAD je Aktie gesenkt. Meyer rechne für 2009 mit einem Kupferpreis von 2,31 US-Dollar pro Pfund.

GOLDINVEST.de bietet Hintergrundberichte und aktuelle Kommentare zum Geschehen an den Rohstoffmärkten und verfolgt die Entwicklung ausgewählter Minengesellschaften aus dem Bereich der Edelmetalle, Basismetalle und sonstiger Rohstoffe. Weitere Informationen unter: www.goldinvest.de


http://www.financial.de/experten/2009/04/22/quadra-mining-ku…

[Videomart]

hier noch einmal das Original:


Extremely Bullish on Quadra Mining - Raymond James
by: FP Trading Desk April 21, 2009

Even after a dilutive equity financing, Raymond James analyst Tom Meyer is extremely bullish on Quadra Mining Ltd. (QADMF.PK). In a note to clients Tuesday, he reiterated a "strong buy" rating and a price target of C$18.00 a share, more than triple the current level.

Quadra recently completed the acquisition of Centenario Copper Corp., and Mr. Meyer wrote that the deal makes the company a "leading intermediate copper producer with improved asset and geographical diversification." Once Centenario's Franke project is put into production, Quadra will have three operating mines in politically safe countries.

Mr. Meyer noted that Quadra's shares trade at a price-to-net-asset-value multiple of 0.21 times, compared to an average of 0.50 times for the peer group of mid-tier copper producers. His target of C$18.00 a share assumes a multiple for Quadra of 0.70 times, which he believes is justified after adjusting for liquidity and risk.

However, his net asset value estimate on Quadra was lowered to C$25.89 a share (from C$30.29) because of the company's recent C$86.6-million equity financing.

Part of the reason Mr. Meyer is so bullish on Quadra is that he is also a big believer in copper. He has a price forecast of $2.31 a pound this year, rising to $3.10 a pound in 2010 and $3.23 a pound in 2011.


http://seekingalpha.com/article/132052-extremely-bullish-on-…

[Videomart]

Antwort auf Beitrag Nr.: 37.022.320 von Videomart am 22.04.09 23:24:23

http://network.nationalpost.com/np/blogs/tradingdesk/archive…

[Videomart]

Antwort auf Beitrag Nr.: 37.022.357 von Videomart am 22.04.09 23:28:05

Tja, ob Mr Koven wohl jetzt auf Gold umswitched, obwohl Quadra doch bald 18 Can$ wert sein soll???

[Videomart]

Chinese buying to aid copper demand: Freeport

By: AFX | 22 Apr 2009 | 04:17 PM ET
By Carole Vaporean

NEW YORK, April 22 (Reuters) - Freeport-McMoRan Copper & Gold Inc sees Chinese purchases of copper continuing to support the industrial metal for the long term, even though its buying practices could cause price volatility in the near term. "We think a lot of the activity in China is sustainable. Their (copper) buying practices will create volatility in the near term, but underlying that is economic growth and infrastructure development that requires real consumption of copper," Chief Executive Officer Richard Adkerson told analysts on a conference call on Wednesday. Despite the dampening effect global recession has had on China's export business, the chief of the largest publicly traded copper producer said copper demand was inherent in Chinese development of its standard of living. "We have a long-term view that's positive on China continuing to invest in infrastructure. They're building facilities -- housing, transportation, railroads, power facilities -- that consume copper," he said. He attributed copper's rise from $1.40 per lb at the start of 2009 to current levels above $2.00 a lb to China. "As we go forward, given market conditions elsewhere around the world, the copper price in the short term is going to be driven by China," the executive told analysts. Earlier on Wednesday, the Phoenix, Arizona-based mining company reported first-quarter profit slumped sharply and revenue dropped by more than half as the global economic downturn weakened metal demand and prices. Looking ahead, Adkerson said Freeport still expects 2009 consolidated sales of 3.9 billion lbs of copper, 2.3 million ounces of gold and 50 million lbs of molybdenum. By 2010, it projects a decline in copper sales to 3.8 billion lbs and in gold sales to 2.1 million ounces, but a rise in molybdenum to 60 million lbs. The CEO warned of risks to the upside, referring to price moves in 2003 when global recession drove copper down to about 75 cents a lb but subsequent economic recovery doubled prices by the end of 2004 as a a case study for what the copper industry will face as China and the developed world gear up. "We continue to be very positive about being in the copper and molybdenum business, even though prices are weak." Adkerson pointed out that historically low exchange and consumer inventories around the world and supply issues unrelated to price -- low ore grades at aging mines, equipment shortages and challenges of operating in politically unstable regions -- should support prices. "As developing world economies begin to recover and as China and the undeveloped world builds infrastructure, the world is going to have strong demand for copper and the industry will be challenged to meet that demand," he said. When demand does pick up, he said, it can take as long as two years between the time when Freeport decides to restart operations and output reaches previous levels. "If we were to make the decision in the second half of '09, it would take a couple of years. The longer it goes the more that lag time gets extended," he said. On the other hand, Freeport could expand operations elsewhere if necessary to make up for curtailed supply. "Lag time will be limited to Morenci, Safford operations (in the U.S.), and other operations we could use to cushion volumes quickly both for copper and molybdenum," he said. Molybendum operations could be restarted more quickly. Freeport trimmed molybdenum output at its Henderson mine in the U.S. to 40 percent and cut byproduct output at copper mines. Molybdenum prices are off last year's levels by two-thirds, hit by a steep declines in steel and chemical industry demand. Though Freeport has historically not shipped molybdenum into the Chinese market, Adkerson said it had received "recent inquiries about it," but could not comment further. "We're working our plans off of what we see from our traditional customers (in the U.S. and Europe), and if this gives us some new opportunities we're in a position to act very quickly on it," the executive added. (Additional reporting by Steve James; Editing by Christian Wiessner)

http://www.cnbc.com/id/30352665

[Videomart]

METALS-Copper ends firm as dollar dives, outlook volatile
Fri Apr 24, 2009 3:41pm EDT

* Copper volatility to persist in coming week

* Large rises in aluminum, lead inventories

* Economic downturn still hitting demand outlook

(Recasts, updates with New York closing copper prices, adds NEW YORK to dateline and analyst comments)

By Chris Kelly and Michael Taylor

NEW YORK/LONDON, April 24 (Reuters) - A depressed dollar, stronger tone in equities and reassuring economic data from Germany and the United States enabled copper to stage a recovery rally on Friday, but lingering concerns about economic prospects are expected to keep price volatility at a high.

"The market had corrected about 25.00 cents, and it was due for a little bounce," said Bill O'Neill, partner of LOGIC Advisors in Upper Saddle River, New Jersey.

Copper for July delivery HGN9 on the New York Mercantile Exchange's COMEX division recovered from near three-week low overnight to close up 5.90 cents, or nearly 3 percent, at $2.05 a lb.

Last week, the benchmark COMEX contract surged to a six-month peak just below $2.25 a lb -- a gain of about 60 percent since the start of the year.

On the London Metal Exchange (LME), copper for three-month delivery MCU3 closed up $128 at $4,470 a tonne, after sinking earlier to a session low of $4,270.

London copper has climbed about 40 percent this year, as a recent rise in canceled warrants -- material earmarked for delivery -- helped buoy sentiment.

But there is now talk the stock drawdowns could be ending.

"We could be testing the $4,000 level on the perception that perhaps there'll be less buying coming out of China, especially from the government's SRB," said Robin Bhar, an analyst at Calyon.

On Thursday, canceled warrants stood at 65,800 tonnes from 69,175 tonnes the day before. With copper LME stocks falling 10,925 tonnes to 429,550 tonnes, canceled warrants represent 16 percent of total LME inventories.

"On the bullish side, strong Chinese import data ... but on the bearish side, global macro sentiment has turned down a little bit. The result is that prices are confused for direction," said Gayle Berry, an analyst at Barclays Capital.

A jump in German corporate sentiment in April to its best level in five months kept pressure on the dollar for the fourth straight session versus the euro <EUR=>, making dollar-priced metals more attractive for non-U.S. investors.

U.S. economic reports gave an additional boost to sentiment, with March durable goods orders slipping by a less-than-expected 0.8 percent and inventories of new homes for sale at the end of March plummet at a record pace.

Despite the upbeat figures, the overall economic mood remained dire.

"While some semblance of slight improvements here and there, all of the data in the U.S. and also in Europe, and certainly in Japan is still recessionary," LOGIC Advisors' O'Neill said.

Indeed, Japan's output of rolled copper products fell a record 60 percent from a year earlier in March. [ID:nT301196]

...


http://www.reuters.com/article/fundsFundsNews/idUSLO41876920…

[Videomart]

Shanghai Metals Index
Index Cu

[Videomart]

What's Moving The Market?

Copper led the base metals complex higher during London Metal Exchange premarket trade Thursday, but continues to trade within its current broad range, a trader with an LME ring dealer told Platts. "Copper held $4,200 on Tuesday after dipping below it, and that was the range point. Copper continues to be the bully for the rest of the metals," he said. Three-months copper was bid at $4,475/mt at 0900 GMT, up $105 from Wednesday's evening kerb close. "It can probably get to $4,600-4,650 on the upside -- people won't take too much notice unless it pushes on from there," the trader said. "There's a big enough range to be of interest, so there are some short-term CTAs going in and out," he said, adding that short-term volatility was leading to good turnovers. Copper continues to be supported by Chinese buying -- copper stocks fell by 5,675 mt according to Thursday's exchange data, with 1,000 mt exiting the South Korean location of Busan and 775 mt out of Gwangyang.

Canceled warrants currently stand at 84,000 mt, equivalent to just under 21% of total stocks of 405,775 mt. "Copper still has an element of fundamental support. Metal is still going out to China," the trader said. "I think a few people were banking on the fact that it was going to slow down, but there's still a fair chunk of metal waiting to go out -- that's caught a few people on the hop." Nearby buying interest has seen the cash-threes copper spread edge into backwardation. The situation is unlikely to change "until China's appetite for physical metal subsides," he said, adding: "When that appetite subsides we'll see it reflected in the price." The rest of the complex was indicated higher in early trade, with primary aluminium bid at $1,466/mt basis three-months at 0900 GMT, up $9 from the previous close despite a net 18,900 mt increase in LME stocks. Zinc was up $18 at $1,428/mt, while nickel edged up $50 to be bid at $11,450/mt.

The demand outlook for nickel remains gloomy in the short term, French producer Eramet said Thursday. "Eramet Nickel will continue to adjust its metallurgical nickel production to market trends, taking into account the market surplus as well as nickel prices, which remain very low," the company said in a statement. The physical market for nickel remained in surplus for the first quarter of 2009, the company said, noting that global production of austenitic stainless steel (containing nickel) was down 33% in Q1 compared with the year-earlier period. Elsewhere, lead was bid $15 higher at $1,345/mt, while tin was up $170 at $12,350/mt. Standard aluminium alloy was steady in early trade, bid unchanged at $1,340/mt, while North American alloy was off $70 at a nominal $1,240/mt, but untraded basis three-months on LMEselect.

This commentary was first published in Platts Metals Alert. If you have any feedback about this commentary or want to find out more about Platts Metals products and services, please contact [e-mail].

Updated: April 30, 2009


http://www.platts.com/Metals/Resources/Whats%20moving%20the%…

[Videomart]

aus:
"Casey's Daily Resource Plus - May 02, 2009"

Base Metals

The base metals were all flashing green on Friday. Copper moved higher in the pre-dawn hours, went flat until late morning, then shot up again to finish barely off its intraday highs at $2.0954/lb., up 7¼ cents. Nickel crashed from the late pre-dawn hours to late morning, but then moved up sharply to regain positive territory and close at $5.3093/lb., up 5½ cents. Zinc was up steadily all day, ending at $0.6705/lb., up 4½ cents. Aluminum had a good day, adding a penny and a third, to $0.6762/lb., while lead was strong as well, tacking on just under 3 cents, to $0.6271/lb.

Copper led the industrial metals higher, prolonging its recent strong run to a 2-week high as the somewhat upbeat economic numbers combined with continually dwindling supplies to give the metal a shot in the arm.

Inventories monitored by the LME were off sharply again yesterday, falling by 7,075 metric tons, to drop below the 400,000 mark for the first time since January 21 and end at 398,700 tons. Since late February, stocks have shed some 140,000 tons, about 25%.

In addition, inventories held in Singapore and South Korea were the lowest since 2005, showing that “Chinese buying has been particularly strong this first quarter,” said Leon Westgate, of Standard Bank Group in London.

“To me, it all suggests that the stars are starting to align for a global recovery,” said Bart Melek, of BMO Nesbitt Burns in Toronto. “We certainly look like we are bottoming,” he added, projecting the U.S. economy to experience positive growth by as early as the third quarter.

Jesper Dannesboe, senior commodities strategist Société Générale, noted particularly that, “The ISM data that came out was much better than expected, especially the new orders component, strongest since August 2008 … The manufacturing data gave the market a real boost in the afternoon.”

Amid the euphoria, a damp towel was thrown by Daniel Brebner, head of commodity research at UBS AG in London, who said that, “China has been the only buyer really in the copper market.”

Brebner predicted that, “You are going to see less demand from China in the second quarter,” and said that copper is likely to fall 20% over the next three to four months.


http://www.gold-speculator.com/casey-research/6540-caseys-da…

[Videomart]

What's Moving the Market?
Platts, Updated: May 7, 2009
http://www.kitco.com/reports/platts_may072009.pdf

[Videomart]

Copper
Gianni Kovacevic: Copper Supply and Demand - New Rule Book Still Being Written
The Gold Report 28 April 2009 @ 05:03 pm EST
http://www.ibtimes.com/articles/20090428/gianni-kovacevic-co…

[Videomart]

22.04.2009
Quadra Mining "strong buy" - Raymond James

St. Petersburg (aktiencheck.de AG) - Der Analyst von Raymond James, Tom Meyer, stuft die Aktien von Quadra Mining (ISIN CA7473191012/ WKN A0CAB6) weiterhin mit dem Rating "strong buy" ein.

Nach einem Bericht der kanadischen "Financial Post" sei Analyst Tom Meyer von Raymond James trotz der jüngsten verwässernden Finanzierung sehr bullisch für die Aktien des kanadischen Kupfer- und Goldproduzenten Quadra Mining. Meyer habe seine Kaufempfehlung ("strong buy") und sein Kursziel von 18 Kanadischen Dollar (CAD) pro Aktie erneut bestärkt.

Quadra habe erst vor kurzem die Übernahme der Centenario Copper Corp. abgeschlossen, was das Unternehmen nach Ansicht von Meyer zu einem führenden, mittelgroßen Kupferproduzenten mit verbesserten Liegenschaften und einer verbesserten geografischen Streuung mache. Sobald Centenarios Franke-Projekt in Produktion gegangen sei, werde Quadra über drei aktive Minen in politisch stabilen Ländern verfügen.

Nach Ansicht des Analysten würden die Quadra-Aktien derzeit mit einem Kurs/Substanzwert-Verhältnis von 0,21 gehandelt, während der Durchschnittswert für mittelgroße Kupferproduzenten bei 0,50 liege. Das Kursziel von 18 Dollar gehe von einem Wert von 0,70 aus, den Meyer nach Anpassungen für Liquidität und Risiko für gerechtfertigt halte. Dennoch habe Meyer seine Substanzwertschätzung zu Quadra aufgrund der jüngsten Finanzierung in Höhe von 86,6 Millionen Dollar von 30,29 auf 25,89 CAD je Aktie gesenkt. Meyer rechne für 2009 mit einem Kupferpreis von 2,31 US-Dollar pro Pfund.

Die Analysten von Raymond James bewerten die Aktien von Quadra Mining unverändert mit "strong buy". (Analyse vom 22.04.2009) (22.04.2009/ac/a/a)

http://nachrichten.boerse.de/analysen-empfehlungen/Derivate-…

[Videomart]

aus:

"Casey's Daily Resource", May 09, 2009

Base Metals

The base metals were little changed on Friday. Copper had a schizo day, rising from the pre-dawn hours to mid-morning, but then falling off precipitously, and finally rallying back a bit to finish at $2.1284/lb., up a penny and a half. Nickel pushed higher through to the late morning, then it too was off sharply to close at $5.8559/lb., up a penny and a third. Zinc had a whole series of big ups and downs but the last bump was up, bringing it to $0.7025/lb., up three-quarters of a cent. Aluminum was weak, shedding a half-cent, to $0.6835/lb., while lead dropped a quarter-cent, to $0.6504/lb.

Copper led the industrial metals through a very indecisive day, with sharp swings to little ultimate effect as traders tried to keep hold of some optimism in the face of economic numbers that continue to be dismal.

“We’ve seen some better reports, but the economy is still weak and we’re not seeing the pick-up in industrial production that will spur the buying of copper,” said Gijsbert Groenewegen, of Gold Arrow Capital Management in New York. “It’s time to take some money off the table.”

Also sounding a less than optimistic note was RBS Global Banking & Markets in London, which wrote that it foresees copper output exceeding consumption for a second straight year in 2009 as the global recession curbs demand.

RBS said that “a correction is quite possible over the summer months as Chinese buying eases off … [however], We expect copper and other metal prices to rise further later in 2009 and through 2010.”

On the supply front, though, copper stocks continued to fall. Inventories monitored by the LME declined by 4,900 metric tons, to 389,000 tons, the lowest level since mid-January.

Meanwhile, on the other side of the world, inventories monitored by the Shanghai Futures Exchange rose 45%, to 27,690 metric tons, from 19,064 tons a week earlier.

http://caseyresearch.com/displayDrp.php

[Videomart]

METALS STOCKS
Copper falls on worries over China demand; gold dips
By Moming Zhou, MarketWatch
Last update: 9:53 a.m. EDT May 11, 2009

(MarketWatch) -- Copper futures fell more than 3% Monday, pacing losses in crude oil and stocks, as worries returned that demand from China, the world's biggest copper consumer, may slow. Gold moved slightly lower.
...
http://www.marketwatch.com/news/story/Copper-falls-economic-…

[Videomart]

Quadra Mining macht Nettogewinn von 26,65 Millionen US-Dollar
Dienstag 12. Mai 2009, 17:00 Uhr

Stuttgart (www.rohstoffe-go.de) Der kanadische Kupfer- und Goldproduzent Quadra Mining Ltd. (ISIN CA7473191012) hat in den ersten drei Monaten 2009 einen Nettogewinn von 26,65 Millionen US-Dollar (0,40 USD / Aktie) erzielt. Im ersten Quartal 2008 waren es noch rund 78,56 Millionen Dollar bzw. 1,42 Dollar je Aktie. Das Betriebsergebnis lag im gleichen Zeitraum bei 46,24 Millionen Dollar, allerdings negativ beeinflusst durch einen Verlust von 8,8 Millionen Dollar aus Spekulationsgeschäften auf den Kupferpreis ergab.

Auch der operative Cashflow war rückläufig und betrug im ersten Quartal 2009 nur noch 55,01 Millionen Dollar nach 95,07 Millionen im Vorjahres Quartal. Quadra verkaufte in den ersten drei Monaten des laufenden Jahres 41 Millionen Pfund Kupfer und 30.258 Unzen Gold, womit die Kanadier einen Umsatz von rund 106,32 Millionen Dollar erwirtschafteten.

Paul Blythe, President und CEO von Quadra sieht dennoch erste Anzeichen der Besserung. Der Kupfermarkt beginne Unterstützung zu finden. Vor allem durch die Konjunkturprogramme in China und den USA, aber auch andere Faktoren würden dazu beitragen. Er sei vorsichtig optimistisch, dass das Wachstum wieder aufleben und die Nachfrage der Endverbraucher, vor allem in China, wieder anziehen werde. Da Quadra bereits in einigen Monaten über drei produzierende Minen verfügen werde und eine starke Bilanz vorweisen könne, sei das Unternehmen der Ansicht, dass man gut gerüstet seit, Kupfer in einen wieder wachsenden Markt zu verkaufen, den man in der Zukunft erwarte, so Blythe.


http://de.biz.yahoo.com/12052009/390/quadra-mining-nettogewi…

[Videomart]

Copper Base Signals Rise, StanChart Says: Technical Analysis

By Glenys Sim

May 15 (Bloomberg) -- Copper may rise to levels not seen since October in the month ahead, as the metal forms a U-shaped base, Standard Chartered Bank said, citing trading patterns.

The 50-week momentum indicator continues to turn higher and supports a rising copper market, as does the sustained push above the 13-week moving average, London-based David Barclay, the bank’s commodity strategist, wrote in a report yesterday. The 14-day stochastic indicator and MACD lines are also signaling a “buy,” he said.

Copper for delivery in three months on the London Metal Exchange has jumped 45 percent this year, and traded at $4,460 at 8:31 a.m. Singapore time.

“Copper prices are still struggling to clear resistance at $4,925 a ton, but a climb to $5,156 a ton remains favored over the coming month,” wrote Barclay. This is a 38.2 percent retracement of the fall from the 2008 high, he said, based on a series of numbers known as the Fibonacci sequence. After this, copper may target the 50 percent retracement objective of $5,878 a ton, he added.

Fibonacci analysis is based on the theory that prices rise or fall by certain percentages after reaching a high or low. A break of a so-called ‘level of resistance’ indicates a price may move to the next level, while a failure indicates a trend may stall. Sell orders may be clustered at resistance levels.

A long term pullback to the 50-week moving average of $5,247.31 a ton is still expected on this bull cycle, said Barclay. Holding above support at $4,158 a ton is now “critical” to avoid a slump to the March 30 low of $3,886.25 a ton and lower, he added.

“Resistance to watch above $4,925 a ton is placed at $5,615 a ton, the 14 October 2008 high,” wrote Barclay. “Pressure below $3,886 a ton would call this into question though, making chart support important to hold on this current pullback.”


http://www.bloomberg.com/apps/news?pid=20601086&sid=aegdBv_L…

[Videomart]

aus:
"Casey's Daily Resource"
May 19, 2009

Base Metals

The base metals were modestly higher on Monday. Copper slogged along below $1.98 until the late pre-dawn hours, but pushed upward from there to finish at its intraday high of $2.0374/lb., up 4 cents. Nickel was down and then up equally, closing little changed at $5.555/lb., up just over a penny. Zinc followed copper’s path, ending just off its intraday highs at $0.6746/lb., up a penny and two-thirds. Aluminum had a quiet day, shedding a quarter of a cent, to $0.6721/lb., while lead pushed higher, adding just under a penny, to $0.6725/lb.

Copper turned around and bounced back over $2 in New York as it followed booming equities and a weakening dollar higher. With the housing industry crucial to demand for copper, the metal also got a lift when building supplier Lowe’s reporter a smaller-than-expected decline in quarterly profit.

There was also anticipation of more positive news on the home front, with the release of April housing starts data, due out today.

But there were concerns raised by news out of China, which arrived after the close of market on Friday. Copper inventories monitored by the Shanghai Futures Exchange expanded for a third time last week, by 28%, to 35,389 metric tons. That’s the highest level since the week ended March 6.

“What’s weighing on investors now is whether or not Chinese demand will be able to absorb the record imports,” said Zeng Chao, of Everbright Futures Co.

Chinese copper imports reached a record 399,833 tons last month, despite the country experiencing a widening export slump that pushed industrial output lower than expected. “With record imports and rising domestic stockpiles, we see cash prices start to fall and this is weighing on the futures market,” said Zeng.

China also factored into the zinc equation, on speculation supply of galvanized sheets may not meet demand from the country’s auto industry. Traders are expecting strong domestic demand for automobiles, said Southwest Futures Co. analyst Jia Zheng, and she added that, “Stockpiles are running low.”

Meanwhile, the copper stock drawdown continues. Copper inventories monitored by the LME were off 4,250 metric tons yesterday, to 353,550 tons, the lowest level since early January.


http://caseyresearch.com/displayDrp.php

[RayNar]

20.05.2009 8:38
Quadra Mining: Millionenschwere Finanzierung für Kupferprojekt Franke steht

Die in Vancouver ansässige Quadra Mining (WKN A0CAB6) hat alle Anforderungen erfüllt, um sich eine Kreditlinie in Höhe von 37,5 Millionen Dollar für die Fertigstellung des Kupferprojekts Franke in Chile zu sichern.Bisher hat der kanadische Gold- und Kupferproduzent bereits 30 Millionen Dollar für das Projekt in Anspruch genommen und die restlichen 7,5 Millionen Dollar, die als allgemeines Betriebskapital eingesetzt werden sollen, sollten in naher Zukunft ebenfalls abgerufen werden.

Der Kredit ist mit Libor (London Interbank Offered Rate) zuzüglich 5,5 Prozent verzinst und es sind halbjährliche Rückzahlungen vorgesehen, die im März 2010 beginnen. Die Endfälligkeit ist März 2014. Zudem hat Quadra, der Kreditvereinbarung entsprechend, 43 Millionen Pfund Kupfer so abgesichert, dass das Unternehmen einen Mindestpreis von 1,80 Dollar je Pfund erhält.

Quadra ist erst letzten Monat durch die Übernahme von Centenario Copper in den Besitz des Franke-Projekts gelangt. Dieses ist im Wesentlichen mechanisch vollständig und wird derzeit in Betrieb gebracht. Zum Zeitpunkt der Akquisition hatte Quadra langfristige Verbindlichkeiten in Höhe von netto 39 Millionen Dollar übernommen, diese aber bereits am 14. Mai vollständig beglichen, teilte das Unternehmen mit.

[Swenmx]

Das hört sich doch sehr gut an!

[RayNar]

Antwort auf Beitrag Nr.: 37.216.348 von Swenmx am 20.05.09 10:28:23

Joa, passt schon.. 5,5% über Libor hört sich zwar eigentlich nicht gut an, aber bei den niedrigen Zinsen momentan kann man schon mal zuschlagen. Man sieht, dass sie Franke schnellstmöglich auf Touren bekommen wollen.

[Swenmx]

Antwort auf Beitrag Nr.: 37.218.297 von RayNar am 20.05.09 13:51:23

Hab heut früh noch mal nachgelegt zu 4,91€ mmmmmh........

[chinagerd]

Antwort auf Beitrag Nr.: 37.221.395 von Swenmx am 20.05.09 18:22:06

Hallo Leute, wenn man bedenkt, daß Quadra von seinen Tiefsständen
schon erheblich zugelegt hat, ist eine Verschnaufpause doch normal,
trotzdem der Goldpreis und auch Kupfer wieder zugelegt haben. Ich
rate allen, in Quadra investiert zu bleinen (ich bin bei 3,20CA$
eingestiegen und habe bei 7,20CA$ nachgekauft), Quadra hat noch
ein gewaltiges Potenzial und die nächsten Q-Zahlen werden super.

[Videomart]

Experten zu Quadra Mining: Langfristig ein attraktives Investment

Der Kupfer- und Goldproduzent Quadra Mining Ltd. (WKN A0CAB6) hat seit dem Tief der Aktie Ende vergangenen Jahres rund 300 Prozent zugelegt. Für die Experten von Cannacord Adams, die ein Kursziel von 8,50 kanadischen Dollar ausgegeben haben, ist die Aktie damit derzeit teuer, da auf ihr Ziel bezogen kein großer Gewinn mehr erreichbar ist, berichtet die Financial Post. Die Experten senkten ihre Einstufung der Quadra-Papiere auf „halten“.

Zudem seien die Aktien nun ähnlich bewertet wie die von Cannacord beobachtete Peer-Group und die Kostenstruktur von Quadra in einem noch unsicheren Kupferumfeld vergleichsweise hoch. Das mache es aktuell unmöglich die Aktie weiter mit „kaufen“ zu bewerten, so die Analysten.

Dennoch bleibe Quadra eine attraktive Investition für Anleger mit einem längerfristigen Ansatz, da das Unternehmen über erhebliches, kurzfristig realisierbares Wachstumspotenzial verfüge und einen guten Hebel aufweise, sollte sich der Kupferpreis weiter erholen.

Quadra werde derzeit mit dem 7,8-fachen des geschätzten Verhältnisses von Unternehmenswert zu EBITDA für 2009 und dem 3,6-fachen für 2010 gehandelt, so die Experten. Die von Cannacord beobachteten Unternehmen der Branche würden im Schnitt mit dem 8,3-fachen (2009) bzw. dem 4,1-fachen gehandelt.


Autor: Sven Olsson

http://www.wallstreet-online.de/nachrichten/nachricht/274205…

[Videomart]

Metals industry's health depends on China – research firm

By: Creamer Media Reporter
12th June 2009

TEXT SIZE JOHANNESBURG (miningweekly.com) – China’s role was now more “pertinent” to the health of the metals industry than at any other time in the last century, with the hope for the metals industries in 2009 resting with the Asian giant, independent research firm AME Mineral Economics said in its latest AME Focus newsletter.

The researchers note that China’s industrial production (IP) growth rate was 7,3% in April, with IP generally representing about 32% of global economic activity.

Should China’s IP reduce by 50%, it would pull down the global IP growth by about 0,5% a year, based on a market exchange rate basis.

On a purchasing power parity basis, a 50% drop in Chinese IP would result in an additional 0,8% reduction in global IP. This would reduce the forecast global IP of -2,8% for 2009 to -3,6%, the report highlighted.

Subsequently, the demand for metals would decline by about 28%, said the AME.

China accounted for about 35% of global metal demand and produced about 45% of steel by physical production in 2009, the report noted.

Even if Chinese IP were to drop by 20%, the metal demand would revert to that seen in the first quarter of 2009, when the prices were close to the average cash cost of production, the AME stated.

The AME was still expecting China’s gross domestic product to grow by 6% in 2009 and would continue to keep an eye on economic data from the Asian country.

BASE-METALS OUTLOOK

Meanwhile, the researchers expected global demand for copper to fall by 10,4% in 2009, as the Chinese buying of copper starts to slow down and demand from Western markets was expected to remain subdued until 2010.

The copper currently being bought by China was used for infrastructural projects, which would be completed or was being stockpiled for future use.

Further, the AME said that it believed that the market fundamentals did not justify the growth rate in nickel cash prices observed throughout May. It said that the rally on the London Metal Exchange (LME), where nickel broke the $6/lb ceiling two days in a row had not been supported by demand and was not sustainable.

Nickel demand in China would drop by 9,2% in 2009, while Japan would see a 27% drop in demand and the US a 16% decline in demand, noted the researchers.

Meanwhile, while lead and zinc prices have seen some recovery in May, the AME warned that any exuberance over further rises should be tempered.

It explained that a number of factors have, and would continue to, moderate zinc’s potential for price increase into 2010, one of which was that there was no clear signs of sustainable demand within China or from the Western markets.

However, stimulus packages would begin to create some genuine demand for zinc later in 2009 and in 2010, as new zinc-intensive infrastructure projects were started, it added.

Further, the AME noted that while the LME zinc price, which was at about 60 c/lb to 65 c/lb, was unsustainable for an extended period of time, but that China’s contradictory directives affected the market balance in the rest of the world.

Growing stockpiles and slow capacity curtailments were challenges that had to be overcome.

Greenfield and brownfield aluminium projects in China, which were due to come on stream in the next three years, had been blocked, phasing out about 800 000 t/y of outdated capacity and increasing consolidation in the base-metals industry, said the researchers.

However, there was additional capacity that would come on stream in 2009, which could potentially replace the phased-out capacity and reduce the benefits of capacity curtailments, the AME added.

COAL

Metallurgical coal imports by China of 2,8-million tons in April were a fivefold increase on the year before.

The Asian country had also increased its thermal coal demand by 27% to 16,7-million tons in the first four months of 2009, while exports were down 33% to 9,2-million tons.

Meanwhile, the researchers noted that China’s crude steel production in March and April reached the highest two-month output figure since June and July last year, despite the global economic slowdown.

Fixed-asset investment in the first quarter of the year had also increased by 29% year-on-year, while the number of vehicles produced, and cement production, had also increased.

Edited by: Mariaan Webb

http://www.miningweekly.com/article/china-is-key-to-health-o…

[RayNar]

Quelle:http://steelguru.com/news/index/2009/06/17/OTg3NTk%3D/Quadra…


Quadra to start production at Franke copper mine soon
Wednesday, 17 Jun 2009

BNamericas quoted Mr Paul Blythe CEO of Vancouver based Quadra Mining as saying that expects its Franke copper mine in Chile's region II to start producing in Q3.

In April 2009, Quadra took over the operator of Franke, Centenario Copper, in an all stock transaction. Centenario had been suffering financing obstacles but with the backing of Quadra the project now has a clear start date. However, the project's need for large amounts of sulfuric acid remains its Achilles' heel.

Mr Blythe said that "I think the biggest issue at Franke is that it is a very high acid consumer and obviously that weighed on our minds when we made the acquisition. It uses 10 times as much acid as Quadra's US mine Carlota. It uses about 50 kilogram per tonne of ore."

He added that a pivotal factor in Quadra's decision to take over Centenario was that it had reached an agreement with Chile's state-owned copper company Codelco to provide 50% of Franke's acid needs. He said that "That is an issue that we have been working on since then, with a view of securing as much acid as we can on a long term basis going forward."

Franke is slated to produce some 30,000 tonnes per annum in copper cathode. Quadra owns the Sierra Gorda copper project nearby in region II.

[brettonwoods]

nen bischen aufholpotenzial in Frankfurt:

9,80 CAD sind 6,2027 Euro

[RayNar]

Aus einer Quadra-Präsentation:

[Vinyard]

Quadra als Gold-Kupfer-Play stand auch auf meiner Watchlist. Hab mich für die etwas rikantere Variante Gold-Uran nämlich First Uranium entschieden. Die wurden leider erst ziemlich abgestraft. Für Neueinsteiger bietet sich allerdings eine gute Gelegenheit. Quadra allerdings auch kaufenswert, keine Frage.

[RayNar]

Antwort auf Beitrag Nr.: 37.452.796 von Vinyard am 23.06.09 20:46:10

Mit Uran habe ich mich bis jetzt noch nicht beschäftigt, sollte ich vielleicht mal .

Quadra ist meiner Meinung nach Top, sie haben es geschafft, die alterne Robinson-Mine durch Franke und Carlota zu ersetzen und steigern auch noch die Gesamtproduktion. Viele negative Analysten bemängeln die niedrige Restlaufzeit von Robinson, die bei ca. 7 Jahren liegen müsste, was aber noch mehr als genug Zeit zum Reagieren lässt (was man momentan auch sieht).

Das Management hat bewiesen, dass sie schnell und plansicher Minen in Betrieb nehmen können, woran viele Konkurrenten schon viele Schritte vorher scheitern.
"Dausend" Prozent sind hier natürlich nicht mehr zu machen

[Videomart]

China has bought 235,000 T copper as reserves -report
Sun Jun 28, 2009 11:50pm EDT

HONG KONG, June 29 (Reuters) - China has bought 235,000 tonnes of copper, 30 tonnes of indium and 5,000 tonnes of titanium, Caijing magazine quoted an official of National Development and Reform Commission (NDRC) as saying.

But China would not continue purchases. "State purchases for reserves will not continue under current market conditions," Yu Dongming at the NDRC's metallurgical deparment told a conference.

It is the first public confirmation of the NDRC's State Reserves Bureau's secretive purchases of copper for reserves.

The SRB is widely known to have bought 590,000 tonnes of primary aluminium and 159,000 tonnes of refined zinc from Chinese smelters since December last year. (Reporting by Polly Yam and Tom Miles)

http://www.reuters.com/article/marketsNews/idAFPEK3597222009…

[brettonwoods]

schade:

http://goldinvest.de/public/count_story.asp?url=story_detail…

[RayNar]

http://www.marketwire.com/press-release/Quadra-Mining-Ltd-TS…

Jul 23, 2009 09:00 ET
Quadra Mining Announces Positive Results From Sierra Gorda Scoping Study

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 23, 2009) - Quadra Mining Ltd. (TSX:QUA) ("Company" or "Quadra") is pleased to announce the successful completion of a scoping study for its 100%-owned Sierra Gorda project in Chile, including a preliminary economic assessment and an updated NI 43-101 compliant mineral resource estimate. The scoping study will be filed today on SEDAR.

The study supports an open pit and concentrator operation processing 111,000 tonnes of mill feed per day and producing between 250 and 400 million pounds of copper per annum over a 25 year mine life at an average cash cost of $0.79 per pound. The project would also have significant molybdenum production, averaging 33 million pounds per year over the first eight years, and declining thereafter. This high level of molybdenum production results in an average cash cost of $0.34 per pound produced during these first eight years. Using a long term copper price of US $2.00 per pound, molybdenum price of US $12 per pound and gold price of US $800 per ounce, the project produces an after-tax net present value (10% discount rate) of US $622 million and an internal rate of return of 16%.

[..]

Paul Blythe, President & CEO comments, "The scoping study demonstrates the positive economics that we need to move the project forward towards development and production. We believe that we have the makings of a very substantial long life project at Sierra Gorda, and one that would be pivotal to the growth and future of the Company. Sierra Gorda represents one of the largest copper development projects of this decade, and could become one of the largest molybdenum mines in the world in its first eight years of production. The project is estimated to double Quadra's annual copper production and significantly lower our unit cash costs."

Paul Blythe concludes, "Now that we have the results of the study, we are actively pursuing discussions with potential partners with a view to rapidly put in place the financing for the project."

[..]

[Videomart]

Rohstoffe-Go Exklusiv - & Wirtschaftsnews - von heute 16:27

Experten schwärmen von Quadras Sierra Gorda-Projekt

Stuttgart (www.rohstoffe-go.de) Kupfer- und Goldproduzent Quadra Mining (WKN A0CAB6) könnte durch Sierra Gorda-Projekt ein ganz neues Level erreichen, sind sich Analysten sicher. Erst Ende vergangener Woche gab das kanadische Unternehmen die Ergebnisse einer Scoping-Studie für Sierra Gorda bekannt – und die würden beweisen, dass es sich dabei potenziell um eine Mine von Weltklasseformat handle.

Man geht auf Grund der jüngsten Untersuchungen nun davon aus, dass Sierra Gorda im Verlauf eines zu erwartenden Minenlebens von 25 Jahren 306 Millionen Pfund Kupfer 16 Millionen Pfund Molybdän und 36.000 Unzen Gold produzieren wird. Gerechnet wird mit einem internen Zinsfuß von 16 Prozent – basierend auf Preisen von 2,00 USD pro Pfund Kupfer 12 USD je Pfund Molybdän und 800 USD pro Unze Gold

Große Zahlen. So groß, dass die Analysten von Cannacord Adams darauf hinweisen, dass Quadra mehr Molybdän produzieren würde als Thompson Creek Metals (WKN A0MR6Q), der größte reine Molybdänproduzent Nordamerikas. Sierra Gorda sei eines der größten, nicht entwickelten Kupfervorkommen der Welt und habe das Potenzial, Quadra zu einer gewichtigen Branchengröße zu machen. Die bestehende Kupferkapazität werde verdoppelt und gleichzeitig das Betriebskostenprofil spürbar gesenkt, so Cannacord weiter.

Allerdings liegen die geschätzten Investitionskosten für das Projekt bei 1,7 Milliarden US-Dollar, sodass Quadra wohl einen Partner benötigen werde, um Sierra Gorda voran zu bringen. Hier schlagen die Analysten von Raymond James vor, dem Beispiel anderer Unternehmen der Branche zu folgen, die ihre Minen finanziert haben, indem sie bis zu 40 Prozent daran veräußerten.

Die Experten rechnen vor, dass Quadra einen 40-prozentigen Anteil an Sierra Gorda für rund 290 Millionen US-Dollar in bar verkaufen könnte. Darüber hinaus gehen sie davon aus, dass rund 60 Prozent des Projekts durch Kredite finanziert werden könnten, sodass Quadra selbst „nur noch“ 118 Millionen USD aufbringen müsste.

Während Cannacrod Adams Quadra mit „kaufen“ bewertet und ein Kursziel von 11,50 Dollar je Aktie vergibt, sehen die Analysten von Raymond James Potenzial bis 19,00 Dollar und empfehlen das Unternehmen als „strong buy“.

http://www.rohstoffe-go.de/rohstoff/rohstoffnews/beitrag/id/…

[Elrond]

!

Dieser Beitrag wurde moderiert.

[Videomart]

Quadra Mining Ltd. - Conference Call: Second Quarter 2009 Financial Results

Vancouver, Canada - July 27th, 2009 - Quadra Mining Ltd. (QUA.TSX) announces that on Thursday, August 13th 2009 at 11.00am ET (8.00am PST) senior management will report on the Company's financial results and performance for the second quarter 2009. Quadra's Second Quarter financial results will be issued by press release also on August 13th, 2009 prior to market open. The complete Financial Statements will be available with the Management Discussion and Analysis at www.quadramining.com and at www.sedar.com.

The North American toll free number for this conference call is 1-866-542-4270 while the international number is 1-416-695-9757. To access the simultaneous webcast, visit Quadra's website at www.quadramining.com or www.InvestorCalendar.com. The playback version of the call will be available until Thursday, August 20th 2009 at 1-416-695-5800 or North American toll free 1-800-408-3053 and using the pass code: 3055081.

About Quadra Mining Ltd. (TSX: QUA)

Quadra is a British Columbia corporation based in Vancouver and is a mining company whose principal assets are the Robinson Mine in Nevada, producing copper and gold, the Carlota Mine in Arizona, producing copper cathode, the mechanically complete Franke SX/EW heap leach project in northern Chile undergoing commissioning testing, the Sierra Gorda advanced exploration copper-molybdenum project in Chile and the Malmbjerg molybdenum development project in Greenland. The Company has the goal of becoming a mid-tier base metals development and operating company with interests in a number of advanced exploration, development and producing properties.

Media and Investor Relations Contact:

Sophie Taylor
Manager, Investor Relations
[phone]

Paul Blythe
President & CEO
[phone]

http://www.quadramining.com/s/News.asp?ReportID=357434&_Type…

[Vinyard]

Wie sieht eigentlich der ungefähre Zeitplan des Projekts aus?

[Vinyard]

Sierra Gorda can produce 140,000 tonnes per year of copper
Tuesday, 28 Jul 2009
Vancouver based Quadra Mining released a scoping study on its Sierra Gorda project in Chile's region II outlining a 25 year life in which it would produce on average 306 Mlb per year copper, 16 Mlb per year molybdenum and 36,000 oz per year gold for a startup CAPEX of USD 1.66 billion and copper cash cost of USD 0.79 per lb.

The company said that the study contemplated an open pit operation with a 111,000 tonnes per day throughput.

Mr Paul Blythe CEO of Quadra said that "We would expect to be in production in 2013-14. We aim to have permitting at the end of this year or in the Q1 of 2010."

Based on prices of USD 2.00 per lb for copper, USD 12.0 per lb molybdenum and USD 800 per oz gold, the project has a net present value of USD 622 million using a 10% discount rate and an internal rate of return of 16%.

The study used average grades of 0.42% for copper, 0.03% for molybdenum and 0.07 gram per tonne for gold and recoveries of 86% for copper, 59% for molybdenum and 42% for gold.

Quadra also updated Sierra Gorda's resources to now include 1.35 Bt in measured and indicated sulfides grading 0.42% copper, 0.03% molybdenum and 0.07 gram per tonne gold. Inferred sulfides amount to 456 Mt grading 0.38% copper, 0.01% molybdenum and 0.04 gram per tonne gold, both using a 0.30% copper equivalent cutoff grade.

Oxide measured and indicated resources stand at 251 Mt grading 0.33% copper. Inferred oxides amount to 26.8 Mt at 0.28%, both using a 0.20% cutoff.

Mr Blythe said that the company is looking for a partner to assist the company financially in advancing the project.

Quadra Mining recently acquired Centenario Copper, which runs the Franke mine in region II, near Sierra Gorda and is slated to produce some 30,000 tonnes per year in copper cathode. The company has also considered producing the less processed pregnant leach solution in order to save on startup costs as that would require less equipment.

[RayNar]

Aus dem Kopf:
In der Präsentation über das Projekt von der Quadra Homepage steht was von 2012

[RayNar]

Antwort auf Beitrag Nr.: 37.658.323 von RayNar am 28.07.09 10:53:07

Ups.. oder auch nicht

We would expect to be in production in 2013-14

[RayNar]

Quadra Mining steigert Kupferproduktion auf mehr als 44 Mio. Pfund

RTE Stuttgart - (www.rohstoffe-go.de) - Der kanadische Kupfer- und Goldproduzent Quadra Mining (WKN A0CAB6) hat aus seinen drei Minen in den USA und Chile von Juli bis September 44,3 Millionen Pfund Kupfer und 21.142 Unzen Gold produziert.

Dabei wurden allein auf der Robinson-Mine in Nevada 33,6 Millionen Pfund Kupfer und die gesamten 21.142 Unzen Gold gefördert, was nach Aussage des Unternehmens trotz einiger Probleme die Erwartungen im Großen und Ganzen erfüllte.

Auf der the Carlota-Mine in Arizona betrug die Produktion des dritten Quartals 6,6 Millionen Pfund. Hier schlug ein geringer als geplantes Abbauvolumen sowie eine niedrigere Durchsatzrate zu Buche. Man arbeite daran, die Laugungsrate auf der Carlota-Mine zu verbessern und gehe davon aus, die Kupferproduktion im vierten Quartal auf etwa 9 Millionen Pfund erhöhen zu können.

Die chilenische Franke-Mine in Chile wurde während des dritten Quartals weiter hochgefahren und produzierte insgesamt 4,1 Millionen Pfund Kupfer. Hier geht Quadra davon aus, im vierten Quartal die geplante Kapazität zu erreichen. Das Unternehmen hatte das Projekt Anfang des Jahres durch die Übernahme von Centenario Copper erworben. Centenario hatte die Errichtung der Mine zum größten Teil abgeschlossen, war dann aber in finanzielle Bedrängnis geraten, was zu Verzögerungen bei der Fertigstellung der Mine führte. Im laufenden Dreimonatszeitraum soll die Kupferproduktion dann auf 6 bis 8 Millionen Pfund steigen, so Quadra.

Die in Vancouver ansässige Gesellschaft arbeitet daran, sich alle nötigen Genehmigungen zu sicheren, um von der Errichtung der Mine und deren Inbetriebnahme zum vollen kommerziellen Betrieb voranzuschreiten. Dieser Prozess sollte nach Aussage des Unternehmens Ende 2009 abgeschlossen sein.

Insgesamt gesehen habe man bei allen drei Projekten Fortschritte gemacht und sehe sich in einer guten Ausgangsposition für 2010, hieß es von Quadra. Dann rechne man auch damit, dass der Kupferpreis im Rahmen einer Erholung der Weltwirtschaft weiter steigen werde.

[RayNar]

Wirtschaftsnews - 10.11.09
Quadra Mining mit Gewinnrückgang
Stuttgart (www.rohstoffe-go.de) Der Kupferproduzent Quadra Mining (WKN A0CAB6) meldet am heutigen Montag einen Nettogewinn von 14,7 Millionen Dollar für das dritte Quartal 2009, nachdem man im Vergleichszeitraum des Vorjahres noch 20,77 Millionen Dollar verbuchen konnte.

Der Rückgang resultiert vor allem aus einem Absatzvolumen, das niedriger als gewöhnlich ausfiel, vor allem auf Grund des Zeitpunkt der Auslieferungen, aber auch wegen eines Derivateverlusts von 13,79 Millionen Dollar, der nur teilweise durch Wertpapiergewinne in Höhe von 8,05 Millionen Dollar ausgeglichen werden konnte. Wenn man jedoch die Zahlen um die oben genannten Faktoren sowie steuerliche Einflüsse bereinigt, lag der bereinigte Nettogewinn bei 21,42 Millionen Dollar nach 17,38 Millionen im Vorjahr.

Quadra verfügt über die Carlota-Mine in Arizona, die Robinson-Mine in Nevada und ist dabei das Franke-Projekt in Chile in Betrieb zu nehmen, das man Anfang des Jahres erwarb. Nach Aussage von CEO Paul Blythe lag die Produktion des dritten Quartals auf allen drei Projekten innerhalb der Erwartungen, sodass die geplanten 44 Millionen Pfund produziert wurden, inklusive von 4 Millionen Pfund der neuen Franke-Mine, die im vierten Quartal verkauft werden sollen.

Der Umsatz des dritten Quartals ging von 116 Millionen Dollar im Vergleichszeitraum des Vorjahres auf jetzt 87,2 Millionen Dollar zurück, da das Absatzvolumen der Robinson-Mine zurückging und die durchschnittlichen Kupferpreise ebenfalls niedriger ausfielen.

Quadra führte nur die Absatzzahlen von Carlota und Robinson in den Umsatzzahlen auf, erklärte aber, man rechne damit die kommerzielle Produktion auf dem Franke-Projekt im vierten Quartal aufnehmen und dann auch die Umsätze dieses Projekts melden zu können. Neben den 44,3 Millionen Pfund Kupfer produzierte das Unternehmen zudem im dritten Quartal noch 21.142 Unzen Gold.


Quelle: Rohstoffe-Go, Autor: (bj)

[Videomart]

Insider Trades by Symbol - TSX Venture Exchange

Company Name: Quadra Mining Ltd.
Last Updated: December 18, 2009

Date: 12/18/2009
Symbol: QUA
Insider Buys Volume: 0
Insider Sells Volume: 24,800
Insider Buys Value $: 0.00
Insider Sells Value $: 351,676.00
Insider Buys Transaction: 0
Insider Sells Transaction: 5
Currency: CAD

http://www.tmxmoney.com/HttpController?GetPage=SearchInsider…

[RayNar]

Gestern kamen die Produktionszahlen von Quadra Mining, die über den Prognosen und den Erwartungen der Analysten lagen. Die letzten Quartale wurden aufgrund der niedrigeren Preise für den Abbau von tauben Gestein genutzt und außerdem eine Seitenwand der Robinson-Mine verstärkt. Die zwei jungen Minen senken die Abhängigkeit von der Hauptmine und sorgen für zukünftiges Wachstum. Kupfer hat sich auf Jahressicht verdoppelt, Gold ist auch gestiegen, der Kurs freut sich



Paul Blythe, President & CEO comments, "All three operations were able to meet or exceed our revised guidance. Robinson saw the expected improvement in recoveries as we were able to benefit from our blending strategy across the quarter. Carlota was able to achieve higher percolation rates on a consistent basis and was also able to deliver higher grade ore to the heaps, resulting in steady improvements in cathode production through the quarter. Franke completed the planned modifications to the crushing system, and although more work will be required to improve availability, the plant has begun to deliver at design performance."

"As previously announced, 2010 production is estimated at 250 million pounds of copper from our three operations and 80,000 ounces of gold from Robinson."

[unalemanloco]

WILL HELP TO FUND SIERRA GORDA
Shares in Quadra Mining jump on JV with Chinese utility
The group has formed the joint venture with China's largest utility company to help expand its Chilean operations

Posted: Monday , 08 Mar 2010

TORONTO (Reuters) -

Quadra Mining (QUA.TO: Quote) said on Monday it has agreed to form a joint venture with China's largest utility company to help expand its Chilean operations and fund its huge Sierra Gorda copper project, which is expected to cost over $2 billion.

The Canadian miner signed a memorandum of understanding with State Grid International Development Ltd, a wholly owned subsidiary of State Grid Corp of China. The joint venture will develop and operate Quadra's Sierra Gorda project and the Franke mine in northern Chile.

Quadra will manage day-to-day operations of the joint venture, while SGID will secure the necessary financing.

"Quadra's agreement with SGID resolves the funding issue for the Sierra Gorda project and allows for development to proceed rapidly once we have the feasibility study and permits in place," Quadra Chief Executive Paul Blythe said in a statement.

Quadra said it will contribute the Sierra Gorda project and the Franke mine, representing $900 million in assets, to the joint venture. SGID will contribute capital to gain a 50 percent equity interest.

In addition, SGID will also acquire a 9.9 percent stake in Quadra through a private placement. SGID will buy 10.9 million Quadra shares for C$13.91 each, resulting in proceeds of about C$151.6 million.

"We believe that with SGID, Quadra has a very strong strategic partner that will not only allow us to construct projects like Sierra Gorda, but also consider other attractive opportunities of substantial size," said Blythe.

Sierra Gorda is a copper project in the Atacama Desert that is located close to mining giant BHP Billiton's (BHP.AX: Quote) (BLT.L: Quote) Spence project.

The Quadra project is expected to produce 306 million pounds of copper a year over a 25 year mine life. It is also expected to produce about 16 million pounds of molybdenum and 36,000 ounces of gold annually.

QUARTERLY RESULTS

Quadra also announced a fourth-quarter profit of $46.4 million, or 46 cents a share, compared with a year-ago loss of $126.1 million, or $1.94 a share, when results were hit by writedowns and other one-time items.

Excluding a derivatives loss and certain one-time gains, the adjusted earnings in the latest quarter were 51 cents a share.

The company said it had cash and cash equivalents of $133.2 million, as of Dec 31.

"The company is in a strong position to continue with its growth mandate of becoming a producer of approximately 500 million pounds of copper a year," said Blythe.

Quadra expects to produce 250 million pounds of copper in 2010, up from about 164 million pounds in 2009.

The company runs three mines in the United States and Chile, and also owns the Malmbjerg molybdenum project in Greenland.

Shares of the company rose C$1.04 to C$16.45 on Monday morning on the Toronto Stock Exchange. (Reporting by Euan Rocha; editing by Rob Wilson)

© Thomson Reuters 2010 All rights reserved

[RayNar]

Die Fusion ist inzwischen durch, ab morgen müsste sich das im neuen Namen niederschlagen. Hier noch ein deutscher Bericht von rohstoffe-go über Quadra:



Wirtschaftsnews - & Rohstoffe-Go Exklusiv - 17.05.10
Quadra Mining verdoppelt im ersten Quartal den Gewinn
Stuttgart (www.rohstoffe-go.de) Kurz vor der entscheidenden Aktionärsversammlung zur anstehenden Fusion mit FNX Mining legt der Kupferproduzent Quadra Mining (WKN A0CAB6) starker Zahlen zum ersten Quartal 2010 vor. Auch die Produktion konnte man deutlich steigern.

Für den Zeitraum von Januar bis März meldete Quadra einen Nettogewinn von 55,6 Millionen US-Dollar oder 56 Cent pro Aktie, was gegenüber den 26,7 Millionen Dollar (40 Cent / Aktie) mehr als eine Verdopplung ist. Zudem beinhalteten diese Zahlen einen Derivativverlust von 7,1 Millionen Dollar, der aus der Wertminderung von Put-Optionen auf den Kupferpreis resultierte. Darüber hinaus nahm Quadra im ersten Quartal Einkommenssteueraufwendungen von 13,3 Millionen Dollar in die Bücher auf. Zum 31. März verfügte Quadra über ein Betriebskapital von 262,4 Millionen Dollar, während es im Vorjahr noch lediglich 217,3 Millionen waren.

Die Produktion des ersten Quartals betrug 49,1 Millionen Pfund Kupfer nach 43,3 Millionen Pfund im ersten Quartals 2009. Die Goldproduktion allerdings fiel von 34.649 Unzen in den ersten drei Monaten des vergangenen Jahres auf nun nur noch 26.846 Unzen.

Neben dem FNX-Merger treibt Quadra zudem ein strategisches Joint Venture mit einer Tochtergesellschaft des größten chinesischen Versorgers State Grid Corporation of China zum Betrieb der Franke-Mine sowie zur Finanzierung und Entwicklung des Kupfer-, Molydbän- und Goldprojekts Sierra Gorda in Chile voran.

Paul Blythe, CEO of Quadra, führte die starken Quartalszahlen vor allem auf den gestiegenen Kupferpreis sowie höhre Absatzvolumina und Umsätze von den Minen Franke und Carlota zurück, auf denen die Produktion weiter hochgefahren wird. Allerdings stellten die Wetterbedingungen in Arizona, wo Carlota liegt, sowie Erdbebenprobleme auf der chilenischen Franke-Mine die dortigen Teams im ersten Quartal vor Probleme, sodass hier noch Steigerungspotenzial bestünde.

[Videomart]

KGMH übernimmt Quadra FNX für fast drei Milliarden USD

Autor: EMFIS | 07.12.2011, 14:36
http://www.wallstreet-online.de/nachricht/3941492-kupfer-kgm…