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- 24 December 2006
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Hmmm, will have to look at PEM again.
LME hits a new high, and the outlook is for even greater gains
Daniel Magnowski, Associated Press
LONDON ”” Lead hit a new high in early business at the London Metal Exchange on Thursday, supported by a tight supply outlook combined with strong demand from battery makers, analysts said. The metal has outperformed other LME contracts, and indeed most other assets, with gains of 130 per cent since the start of the year.
By 10:30 (GMT), lead for delivery in three months traded up to $3,890 (U.S.) per tonne on electronic dealing system Select, surpassing its previous peak of $3,885, which it struck on Tuesday. Despite these high prices, users of the metal have little choice but to continue buying, analysts said.
“There is a fair way to go before they will even look at making a change,” BNP Paribas analyst David Thurtell said.
LME hits a new high, and the outlook is for even greater gains
Daniel Magnowski, Associated Press
LONDON ”” Lead hit a new high in early business at the London Metal Exchange on Thursday, supported by a tight supply outlook combined with strong demand from battery makers, analysts said. The metal has outperformed other LME contracts, and indeed most other assets, with gains of 130 per cent since the start of the year.
By 10:30 (GMT), lead for delivery in three months traded up to $3,890 (U.S.) per tonne on electronic dealing system Select, surpassing its previous peak of $3,885, which it struck on Tuesday. Despite these high prices, users of the metal have little choice but to continue buying, analysts said.
“There is a fair way to go before they will even look at making a change,” BNP Paribas analyst David Thurtell said.
) If you look at the left side of "slide 11"- I interperet this to mean that the area that is currently being mined has five more years of rRESERVES. The right hand side of the slide shows areas that are being developed, presumably where reserves will be firmed in due course in hope of future mining in those new areas. 
