This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Copper Rebounds As Chinese Exports Jump

Tiger Resources (ASX:TGS,TSX:TGS) said that the stage-two feasibility study for its Kipoi copper project in the Democratic Republic of the Congo shows an after-tax net present value of $378 million at a copper price of $3.40 in the years 2014 to 2017 and a price of $3 from 2018. Separately, the company said that 2012 production at Kipoi was 36,962 tonnes of copper in concentrate, exceeding the company's previous estimate by 6 percent. It said production in 2013 will be maintained at 37,000 tonnes at average direct cash operating costs of 48 cents per pound.

Nord Resources (OTC Pink:NRDS) entered into a new copper cathode sales agreement with Red Kite Master Fund for 100 percent of the production from the Johnson Camp mine in Arizona after the old agreement expired end of December. The new agreement runs through March of this year, with options for renewable extensions.

Chile's copper commission said the country will delay 11 of 45 copper and gold mining projects, according to Minerandina, a weekly electronic mining publication. It said the delayed projects comprise $38.9 billion in total deferred investments. The commission cited availability and cost of power supplies, environmental assessments and difficulty obtaining building infrastructure permits.

Junior company news

Western Copper and Gold (TSX:WRN) said the feasibility study of its Casino copper, gold and molybdenum deposit in the Yukon shows that the project has a $1.8 billion after-tax net present value at long-term metal prices. The study recommends that the project be constructed as an open-pit mine and estimates production of 399,000 ounces of gold, 245 million pounds of copper, 15 million pounds of molybdenum and 1.8 million ounces of silver per year in the first four years of production.

Nautilus Minerals (TSX:NUS,LSE:NUS) said it has “become aware through a news release” that Michael Bailey and an entity controlled by Bailey intend to make an unsolicited offer to acquire the company. Nautilus said it has had no contact with Bailey, nor did it have prior knowledge of the offer, so it is “unable to make any determinations regarding the offer or its validity.” The company said its board will consider the offer “if and when it is formally made.”

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,203.15 -85.48 -0.47%
S&P 500 2,106.62 -10.77 -0.51%
NASDAQ 4,978.6080 -29.4880 -0.59%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs