Nothing really new but interesting… “Not close to a deal at the moment”…
Wed 23 Jan 13 | 08:20 PM ET - David Strang, President & CEO, Lumina Copper, talks about the current situation of copper market and Lumina's Taca Taca project in Argentina.
- Copper Market – China key player – Copper LT Fundamentals are fantastic (structural supply side issues) – On shorter term, fairly reddish during the following 6 to 8 Months
- Lumina – PEA released to the market at the end of February – beginning of March
- Argentina – Nationalism has been overplayed by the market, certainly from a mining perspective – Mining is controlled by the Provinces whereas oil and gas is viewed as a national interest (controlled by government)
- Due to the Argentina factor, low SP at the moment and as a result Taca Taca became a “cheap acquisition”
- Not close to a deal at the moment – Strategic review process on-going