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Highlights;
Commodities dealer Jefferies Bache is predicting5 an “extended period of rising copper prices,” on the back of “very significant” copper deficits in the years after 2015. And while Haywood Securities expects6 “near-term volatility” in copper prices, it said US and Chinese government and central bank action to stimulate the economy has “raised the floor for base metal pricing.” It also said supply will be tight as grades are declining and large copper producers are cutting costs instead of building large new copper projects, Mineweb reported.
In the last month, Copper Fox Metals (TSXV:CUU7) has received encouraging news about its deposit in British Columbia.
Copper Fox shares last week moved8 above their 200-day moving average of C$1.19. CEO Elmer Stewart said9 the company is in the final stages of completing the feasibility study for its copper-gold10-molybdenum11-silver12 Schaft Creek project in BC, describing it as “the most significant event” in the company’s eight-year history.
The combined measured and indicated resources of the Schaft Creek deposit are 1.23 billion tonnes containing 7.1 billion pounds of copper, 455.3 million pounds of molybdenum, 7.4 million ounces of gold and 66.7 million ounces of silver, according13 to a study from May this year.
Citing Brook Hunt in an August presentation, Copper Fox said14 that to meet global demand, an additional 12.7 million tonnes of copper production per year will be necessary by the year 2022, but current “probable” additional supply will cover less than half that.
Copper Fox raised15 over $4 million in financing from an insider in September, and that will be used to complete the Schaft Creek feasibility study and cover general operating expenses. In addition, it plans to raise up to $4 million in a private share placement in part to fund costs associated with the acquisition16 of the Sombrero Butte and Van Dyke copper projects in Arizona.
Copper Fox Metals was up 1.7 percent at $1.21 on Thursday, staying above the 200-day moving average that it broke through last week.
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http://copperinvestingnews.com/12650-juniors-copper-mining-stocks-fox-calibre-pacific-booker.html
