copper sleeper??

Cannindah Resources Limited has interests in four Queensland projects, with a current focus on the Mt Cannindah Cu-Au project and the Piccadilly Au project.

Flagship Mount Cannindah Copper-Gold Project, 100km south of Gladstone
• Large gold bearing porphyry copper system with significant depth and regional potential
• Total resources at the Mount Cannindah prospect only of 5.5Mt @ 0.92% Cu, 0.34g/t Au & 14.9g/t Ag
• Future exploration will focus on a potential extension of the known resource at the Mt Cannindah prospect area to the North along with a copper zone in the Southern copper skarn unit, less than 2km from known resource and still within granted mining leases. A further possible extension of this skarn area into the EPMs to the south has been identified and is also the focus of near term exploration activity. A previously undetected gold system has been located near the Little Wonder prospect which will also be investigated further to establish whether it extends along a possible strike of up to 1km.

Recent work & Exploration resized

Recent work resized

Major prospects

Recent work 1 resized

Little wonder resized

Piccadilly Gold Project, 60km north of Charters Towers
• Agreement to explore and mine ML1442, as well as recent earn-in agreement to access surrounding EMPs
• Ore purchase agreement with Minjar Gold to purchase ore resulting from exploratory mining within ML1442
• To date, target areas have returned exceptionally high grade Au samples, with the highest being 79.4g/t
• Investigations revealed large areas not originally thought to be mineralised in fact showed grades of 9.44g/t and similar
• Geologically modeled intrusive related gold system target located within 1.5km of mining lease area, and thought to be the possible source of the mining area’s mineralisation. Plans underway to explore this possibility

Mount Borium Gold Project, 20km north of Kidston*
• Located between the historic Kidston gold mine and Einasleigh copper mine
• Highly mineralised gold-bearing porphyry system
• A 7-hole RC drill program was completed in December 2012 with results confirming the project’s prospectivity.
• A comprehensve geophysical review of key areas within the project area has identified a significant porphyry copper target at Arthur’s Gully. Nearby soil sampling and RAB drill results confirm the presence of gold-copper mineralisation.

Oak River Uranium-Gold Project, adjacent to Mount Borium*
• Field work has confirmed presence of Uranium mineralisation
• Planet is seeking a JV partner for this project

*Cannindah Resources Limited is looking to find joint venture partners for these non-core projects

Copper prices top $4 a pound for the first time in over 9 years
Last Updated: Feb. 19, 2021 at 2:10 p.m. ET
First Published: Feb. 19, 2021 at 11:47 a.m. ET
By Myra P. Saefong
4

Copper prices have climbed to levels not seen since 2011 LOUAI BESHARA/AGENCE FRANCE-PRESSE/GETTY IMAGES
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Referenced Symbols
HGH21
+4.24%
HG00
+4.24%
Copper futures topped $4 a pound on Friday for the first time since 2011, with expectations for a global economic recovery and a rise in renewable energy sources lifting the industrial metal’s demand outlook.

Copper demand and prices “should continue to benefit from a recovering global economy and [a] transition to “green” energy sources,” said Brent Cook, an economic geologist and senior adviser for the newsletter Exploration Insights.

Copper for March delivery HGH21, +4.24% HG00, +4.24% rose 17 cents, or 4.4%, to settle at $4.074 a pound on Comex on Friday, for the highest most-active contract settlement since September 2011, according to Dow Jones Market Data. Prices ended nearly 7.6% higher for the week and almost 16% higher year to date.

Supplies of the metal suffered on the back of production slowdowns due to COVID-19 restrictions and while supplies should pick up in 2021, said Cook, the market won’t likely have enough copper to meet demand in the years to come.

Estimates for supply increases range between 1.5% and 3.5%, while demand is “projected to significantly exceed supply,” Cook told MarketWatch. He expects the supply deficit to increase over the next five to 10 years “primarily due to a dearth of new copper deposit discoveries, the time line to bring a deposit into production,” which averages 10 to 20 years for a large deposit, and the fact that “most of the major deposits currently in production are in their ‘golden years’.”

In a report issued in January, with preliminary data from October 2020, the International Copper Study Group (ICSG) said world mine production fell by 3.5% in the April to May period last year. It said that the two months were most affected by COVID-19 related global lockdowns that led to temporary mine shutdowns and lower production levels.

ICSG also reported that preliminary data show that world refined copper production rose by 1.5% in the first 10 months of 2020, but estimates for world refined copper usage rose by 2% over that same period, indicating an “apparent deficit” of about 480,000 metric tons due to strong Chinese demand.

The need for copper in so-called “green” energy sources also comes into play for the market, said Cook, estimating that an average combustion car incorporates roughly 15 kilograms of copper, but an electric car uses around 60 kilograms of copper.

Still, there are some doubts over whether the economy is set on a track toward recovery, particularly in the U.S.

Recently released data revealed that U.S. industrial production rose a fourth straight month, up 0.9% in January. The New York Fed’s Empire State business conditions index rose 8.6 points to 12.1 in February, the highest level of activity since July.

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very cheap on the copper front plus AQS people in it dyor

Tearaway Tesla helps to drive boom in copperJAMES KIRBY
Follow @kirby_journo
At today’s price of about $US8900 a tonne, copper has bounced to a nine-year high from a standing start only a few months ago. Picture: Bloomberg
At today’s price of about $US8900 a tonne, copper has bounced to a nine-year high from a standing start only a few months ago. Picture: Bloomberg
6:05PM FEBRUARY 22, 2021
1 COMMENT
If you missed the money made in the iron ore boom, hold on — you might have a second chance with copper.

The world’s most commonly used industrial metal is rising rapidly as investment markets prices in a global recovery from the COVID crisis.

Long known to industry analysts as “Dr Copper” for its ability to act a bellwether for the health of the wider economy, this time round things are different in copper thanks to Tesla: the spectacular trading and fourfold increase in Tesla share price over 12 months has put a rocket under virtually all investments linked to electric vehicles, which use four times more copper than traditional petrol vehicles.

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With a “tight” supply of copper mines — and a timeline of seven years to get a mine up and running — any extra demand is going to push the copper price higher: As for electric vehicle demand, it is expected to reach 3 million tonnes a year by 2030. Just now, the total global market is 22 million tonnes.

Tesla, by itself, will need 1.8 million tonnes of copper to reach its target of 20 million cars a year.

In other words copper, along with riding a traditional commodity upswing, is wide open to getting the premium currently ­offered to so-called battery metals such as lithium, nickel and ­cobalt.

READ MORE:EMR Capital mulls IPO for mining assets|Cultural heritage test looms for Rio, BHP|VW’s electric dreams|Ex-coal miners plug into ‘electric car revolution’
Indeed, copper has arguably wider usage in “green industry” than almost any other metal. For example, renewable power systems are also five times more copper-intensive than conventional power systems.

At today’s price of about $US8900 a tonne, copper has bounced to a nine-year high from a standing start only a few months ago — and unlike iron ore, this metal price story is not all about China.

In fact, the lift in copper prices in recent days follows the spectacular Texas snowstorms that have made analysts realise that US electricity grids are going to have to be upgraded in the months ahead.

The rise in Tesla’s share price over 12 months has put a rocket under virtually all investments linked to electric vehicles, which use four times more copper than traditional petrol vehicles.
The rise in Tesla’s share price over 12 months has put a rocket under virtually all investments linked to electric vehicles, which use four times more copper than traditional petrol vehicles.
Copper’s 7 per cent rise over the past week was the best of all metals including iron ore — over the past 12 months, the improvement is more than 90 per cent.

A new note on the metal from Daniel Hynes, the senior commodity strategist at ANZ, says that for copper: “Strong growth in investment in clean energy sectors such as renewable energy and electric vehicle infrastructure in 2020 could just be the tip of the iceberg.”

For investors, the stars aligning for copper offer a similar ­picture to iron ore stocks late last year — big miners such as Rio Tinto and BHP will be obvious winners from new enthusiasm for the metal, but there are also a ­selection of independent listed miners with exposure to production within Australian and overseas.

Indeed, while BHP and Rio are already well established players in the global copper industry, the local mining industry’s “third force” Fortescue is reportedly looking at diversifying into the copper industry.

Beyond the big miners, the two main stocks of the local copper market are OZ Minerals and Sandfire Resources — though OZ Minerals has a better ASX record in recent times.

OZ Minerals is the largest of the independent producers with a $7bn market capitalisation — it gained 7 per cent in the first session of the week and has doubled since this time last year.

Sandfire Resources also gained 7 per cent on Monday, but remains under the $1bn mark in terms of market capitalisation largely due to a failure to capitalise on the copper boom so far — the stock is up about 7 per cent since this time last year.

Among small-cap copper stocks, the picture is mixed: Stavely Minerals (market cap $195m) has barely changed in price over the past year, while Caravel Minerals (market cap $53m) has tripled in price.

Where does it all go from here? In common with analyst bulletins during the rise or iron ore prices a few months ago, the investment industry is struggling to keep up with bank analysts barely able to get their forecasts out before ­prices move too fast. Those prices can change in the blink of an eye but the underlying theme is clear.

JAMES KIRBYWEALTH EDITOR

watch for aqs $$ to roll into cae...both are tony fung as big holders..