Copper M&A is heating up and now Australia's largest unmined copper deposit is in play. Rob McEwen should be using this momentum now in the market place and put Los Azules copper deposit on the industry radar screens. TNR Gold and McEwen Mining will be very well positioned for this upturn in the market place. CRB index is breaking out and increasing M&A activity is signalling that the bottom is in place for the resource sector. Meanwhile McEwen Mining has breaking out to the upside above CAD3.0 with Gold in a breakout mode.
"Copper M&A is heating up and following Chinese quest for the long term secured supply of Copper Hudbay is bidding for one of the most promising Copper projects in the U.S. Increasing M&A activity confirms that the bottom for the mining stocks is in and industry insiders are looking for the best assets before the general public will drive the prices up.
Glencore is talking about the higher Copper prices to come and they are not alone in this industry observation. McEwen Mining and TNR Gold will get now more attention to Los Azules copper project, as we have discussed yesterday, and Lumina Copper will be in M&A play as well with its Taca Taca copper deposit in Argentina."
"FT reports about very interesting developments around the Las Bambas Copper mine in Peru. To sell this prize copper asset was always the condition for Chinese approval of Xstrata and Glencore merger. Chinese are ready to put their hands on it, but now, apparently, Glencore is talking about higher Copper prices and better economics of the project, which can affect the sale.
All this new information bodies very well for McEwen Mining and TNR Gold with their Los Azules Copper project in Argentina. Actually Xstrata was involved in that project as well. Timing of the deal on Las Bambas is very important - before it was scheduled for September and now talks could be concluded this month. Copper market M&A is heating up and the major players are ready to make their bets already."
Los Azules Copper - McEwen Mining And TNR Gold: Yamana Gold to invest $450 million in Argentine mine MUX, TNR.v, LCC.v"It looks like the shift in Argentina for the better is happening for real this time. Rob McEwen has discussed it in his recent presentation and that in his opinion "we have seen the low in Argentina after a lot of disappointment". Shevron special Shale Oil deal, repayment to Repsol and now Yamana Gold investment are certainly the things we would like to see now after elections. Lumina copper is holding above CAD5.00 these days and McEwen Mining and TNR Gold should benefit from Los Azules copper revised valuation now."
Copper M&A: Peru Officials Meeting Chinalco, Minmetals This Week on Las Bambas Bids MUX, TNR.v, LCC.v, CU, GDX"With Chinese economy in the recovery mode quest by Chinese companies for the best mining assets is ongoing worldwide. Lumina Copper is getting some bids today again and Los Azules copper will be getting on the investors' radar screens with the changing political landscape in Argentina again."
All slides are from McEwen Mining presentations.
Please Note our Legal Disclaimer on the Blog, including, but Not limited to:
There are NO Qualified Persons among the authors of this blog as it is defined by NI 43-101, we were NOT able to verify and check any provided information in the articles, news releases or on the links embedded on this blog; you must NOT rely in any sense on any of this information in order to make any resource or value calculation, or attribute any particular value or Price Target to any discussed securities.
We Do Not own any content in the third parties' articles, news releases, videos or on the links embedded on this blog; any opinions - including, but not limited to the resource estimations, valuations, target prices and particular recommendations on any securities expressed there - are subject to the disclosure provided by those third parties and are NOT verified, approved or endorsed by the authors of this blog in any way.
Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advice on this blog and there is no solicitation to buy or sell any particular company.