redandgreen said:I'm afraid the "explosion of base metal prices" does not explian OXR continued, comparative outperformance......
laurie said:Have a look at the projected EPS!! it is way undervalued IMHO $3+
cheers laurie
michael_selway said:Laurie, hold on a sec, where did u get your figures? Form Comsec
bvbfan said:2007 the will be a large expense for the construction of Prominent Hill that will effect the earnings for 2007 possibly 2008
nizar said:I had a look at my mates Broker report from Citigroup...
OXR 2006e and 2007e have been increased by 44.1% and 70.0% respectively due to recent commodity price movements and currency fluctuations
(Sorry cant post link it was hard copy)
Me too, and I have been following/studying this very closely for a few years now.Knobby22 said:I am just stunned as to the continuing copper price rise.
kevo said:It's been upgraded again by Macquarie.
http://kontentkonsult.com/blog/2006/04/macquarie_are_we_being_too_con_1.html
www.kontentkonsult.com
It will be $5.00 bucks before you know it..
The most significant change (given its importance to both the base metals complex and equities) is the ~50% increase to MRE's copper price forecasts for 2007 and 2008, which now exceeds US$2.00/lb until end 2008. Those issues have had a substantial impact on MRE's production forecasts, have raised the forecast concentrates deficit, and have now swung their refined market balance forecast from surplus to deficit in 2006. With stocks already extremely low, this deficit is enough to make MRE question whether there is any justification to forecast a significant pull-back in prices this year, and MRE's conclusion is that there is not. As a result, MRE have revised up their forecast average copper price for 2006 from $2.20/lb ($4850/t) to $2.54/lb ($5590/t).
MRE continue to expect virtually all of the LME zinc stocks to be run down by the end of the year, and the zinc market to be displaying all the signs of a shortage market – including prices moving to record highs. Copper is an interesting case study for those looking at possible price outcomes for zinc – in copper, prices have gone higher than we would ever have imagined – simply because there has just not been enough to go around. In zinc it is difficult to say just how high prices could go in a real shortage situation. MRE do not believe there will be significant price-related substitution out of zinc in the galvanised steel market.
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