Someone is going to be voted off the island in America. It will either be the bankers or the borrowers. Or maybe a giant debt default/amnesty is coming in which both negligent lender and delinquent borrower are let off the hook. Hmmm....
But how about let's look at the can't-miss metal of the moment, copper! Our friend and Diggers and Drillers editor Alex Cowie was all over the copper story a few months ago. And now the metal has reached a mainstream tipping point. Dr. Copper is trading near a 27-month high of US$8,360 per tonne.
Delegates to the Macquarie/London Metals Exchange conference in London predicted a 17% rise for copper in the next twelve months and a 35% rise in the weighted average price of all base metals. If there were any base metal/China bears at the conference, they were probably shot and served as a delicacy, with their pelts used as doormats.
"I think we're in phase two of the super cycle," Alex told us over coffee yesterday. "Of course these smaller projects are always risky. But there are a lot of great stories out there to tell and if metals prices keeping going up, there's money to be made." (more)
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