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Miner PanAust sees firm copper prices in 2013

Thursday, October 18, 2012 - 03:56

Oct. 18 - Copper and gold miner PanAust says copper prices will remain stable next year due to tight supply and encouraging signs from the U.S. and China.

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It's an -- leak was speaking to copper and gold lineup panelist. To me now is he managing direct snap of the company Gary sent it Gary we're looking to expand organically Nick's jail. The companies has just. Recently in the last few months. Finished lightning and and ramping up the new -- -- -- civil months over the last. Eighteen months we spent about 300 million dollars a -- projects and also on the expansion of our public golf writing. So I guess looking forward we still see some opportunities city. By the business organically. -- doing a feasibility study Alon U public -- -- which we hunted like an investment decision on in the second off the next year's two I think really that's done we'll continue to look at opportunities. Around the world. But with a particular focus on on the Americas. And Asia where we have existing again is -- seeing positions. But we really -- say that it's or. Got -- audio will will provide -- going into the the future. You producer on 64000. Tons of call that this is what is your projections for next year. Gags -- -- as she is 64000 pounds of copper in the 135000. Minutes ago. Looking to next year will have a foot full year production out of -- -- out adults oval mind so expect gulf production to -- And the annually would expect the gulf production to be well over a 100000 ounces and apparently we expect to initiate they just just about I 80000 -- ago production rise. We the expansion of the public gold mine we'd expect that copper production to rise two above 65000. Tons next year. And then we have a further expansion. In capacity we should -- of reductions by the 70000 tons in the 2000 deporting. All. See many mine is second -- about the sit down and that would break. How DC isn't that seem -- mind and then -- prices. What -- what we've seen in a call is. It's as much a story about supply. As is about its to mom and the shall we big siting in a fairly narrow range between I think it was march April and and then July oh locusts this year. And perhaps a lot of the investors. The hedge funds disciples -- we shall call during that period. But some really the public -- didn't didn't fall much below 325. Street city. Dollars -- -- -- in the beginning during that values and and I think that really did reflects fairly good equilibrium. In the demand and supply side looking forward. I think supplies -- they continue to disappoint. And I think we're seeing some very encouraging signs coming out of the US now and I think in the new political cycle in China pats lose we might see some more. More incentive -- economy emerge as well. Using price is -- you still. -- little really not know little volatility noted a couple of market none Intel says not kids have either commit to chipping fifteen to -- percent to immaterial to India and the rest China. How this thing to develop into. In the next five -- is. I mean we we see China is still being they've defied the school of demand going forward but. You only need to see and -- 300000 tonnes per animal half million tons per -- demand coming out of India were out of the US. And that that makes a big difference in terms of the overall balance side who I think that says the developing nations. That still building infrastructure and we'll continue today the draw it for profit amounted to the future but I think once that. Big economy in the US does -- a guy I think that also have a significant impact on a few months as well.

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Miner PanAust sees firm copper prices in 2013

Thursday, October 18, 2012 - 03:56