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Copper Shines, Gold Struggles as Investors Chase Riskier Assets SPONSOR: Candente Copper $DNT.ca $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Posted by AGORACOM at 12:01 PM on Thursday, December 3rd, 2020

http://blog.agoracom.com/wp-content/uploads/2020/08/candente-copper-for-blog1.jpg

SPONSOR: Candente Copper owns 100% of the Canariaco copper project, which includes the Feasibility stage Canariaco Norte deposit. Canariaco is included in Goldman Sachs 84 Top Copper Projects Worldwide and Fortesque is a 19% owner of Candente.

Industrial metal boosted by China’s economic rebound and ‘green stimulus’ expectations

(Bloomberg) — Copper powered to a seven-year high as the rush for growth played out in metals markets, with traditional haven gold dropping amid growing optimism for an end to the coronavirus pandemic.

Bullion extended losses below $1,800 an ounce and copper added to a four-week surge on bets the looming roll-out of Covid-19 vaccines will help drive an economic recovery. The moves deepen a wider pivot into risk assets in November, with global stocks heading for a record month.

“Robust price rallies in industrial commodities like copper point to an ongoing rotation from a risk-averse to risk-on asset market regime,” Citigroup Inc. analysts including Aakash Doshi wrote in an emailed note. Gold faces a “more uncertain path in 2021” as global growth prospects improve, they said.

The latest boost for risk appetite came over the weekend, when two of America’s top health officials said a vaccine will be deployed across the U.S. before the end of the year. Elsewhere, an index of China’s manufacturing sector rose to a three-year high on Monday and the country is taking steps to boost domestic consumption, including of autos and home appliances.

“Macro factors are driving copper trading,” Chinese brokerage Jinrui Futures Co. wrote in note on Monday. “The market sentiment is really bullish right now amid a combination of vaccines, economic recovery, and a smooth U.S. presidential transition.”

Copper rose as much as 2.6% to $7,692.50 a ton, the highest since March 2013. The metal traded at $7,634 by 9:55 a.m. London time and is heading for the biggest monthly gain since 2016.
Iron ore also joined the rally, with Singapore futures up 1.3% and heading for a monthly gain of more than 11%. Prices briefly spiked more than 9% to touch $140 a ton, the highest since futures began trading in 2013, before swiftly paring gains.
Gold fell 0.8% to $1,773.59 an ounce, on track for a fourth straight monthly loss. Silver dropped 1.8%.

Bullion is suffering as investors reverse this year’s hunt for havens amid deep economic ruptures and a fractious U.S. general election. But other factors that favor gold — ultra-dovish monetary policy and the risk of steeper inflation — remain in place.

”The current weakness of gold is all the more remarkable given that the U.S. dollar is likewise weak,” Carsten Fritsch, an analyst at Commerzbank AG, said in an emailed note. “After the price fell below the support level at $1,800 on Friday, the technical picture became even more gloomy, which no doubt has prompted further short-term-oriented investors to withdraw.”

SOURCE: https://www.bnnbloomberg.ca/copper-shines-gold-struggles-as-investors-chase-riskier-assets-1.1529338

Tags: #Canariaco, #copper, #Fortesque, #Freeport, #Gold, #GoldmanSachs, #JointVenture, #mining, #peru
Posted in All Recent Posts, Candente Copper | Comments Off on Copper Shines, Gold Struggles as Investors Chase Riskier Assets SPONSOR: Candente Copper $DNT.ca $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Candente Copper $DNT.ca Agreement Signed with Forte Copper on Don Gregorio Copper-Gold Project, Peru $DNT.ca $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Posted by AGORACOM at 8:23 AM on Monday, November 30th, 2020

VANCOUVER, British Columbia, Nov. 30, 2020 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) (“Candente Copper”, “Company”) is pleased to announce that the Company has entered into an Assignment Agreement (“AA”) with Forte Copper Corp. (“Forte Copper”), on the Don Gregorio copper-gold porphyry project.

The Company entered into an Option Agreement on the Don Gregorio project with Forte Copper (previously known as Plan B Minerals) in 2017. The recently signed Assignment Agreement allows Forte Copper to move ahead with applications for drilling permits.

Under the Assignment and Option Agreements Forte Copper has the right to earn a 60% interest in the Don Gregorio property by completing the following terms:

Making payments of US$500,000 to Candente; and
Drilling 10,000 metres within three years of receiving drilling permits of which 5,000 metres must be drilled within two years; Forte Copper may pay $100/metre cash in lieu of metres not drilled.
The Assignment Agreement is for 5 years such that if the 10,000 metres have not been drilled (including cash paid in lieu), then the property must be returned to Candente Copper Corp.

To date, the Company has received payments totalling: US$100,000 and reimbursements for fees for annual mineral rights totalling US$41,540.

Candente Copper acquired the Don Gregorio from the Peruvian government in a competitive auction in 2008. Don Gregorio covers a mineralized (copper-gold) porphyry system, that occurs within the same geological trend as Yanacocha, Cerro Corona and Cañariaco.

Don Gregorio (previously referred to as La Huaca) was discovered by Ingemmet (Peruvian government geological survey) in 1974 during a regional exploration program. In 1977, 8 holes were drilled to a maximum of 107 metres (“m”) and intersected o.22 to o.56% Cu over 15m to 100m, averaging 50m and bottoming in mineralization. These holes were not analysed for gold.

In 1992, a Newmont Buenaventura Joint Venture (“JV”) discovered a gold (“Au”) zone in surface samples covering 200m by 700m coincident with copper (“Cu”) previously delineated in a north-northwesterly trending zone. In 1995, the Newmont-Buenaventura JV drilled 4 holes in 800m. These 4 holes were also mineralized to final depths.

The 12 holes totalling 1,642m drilled to date indicate copper and gold mineralization occurs over a minimum of 400m vertically from 2,600 to 2,200 metres in elevation.

Mineral intercepts in the historic drilling include 153.3m of 0.394 percent (“%”) Cu & 0.18 grams per tonne (“g/t “) Au.

Surface samples collected to date include assays of:

20m of 1.23% Cu and 0.26 g/t Au
9m at 1.13% Cu and 0.90 g/t Au
3m at 1.36% Cu and 0.84 g/t Au

About Candente Copper
Candente Copper is a mineral exploration company engaged in the acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.

About Forte Copper
Forte Copper is a private company that announced a go public RTO transaction with Collingwood Resources on August 18, 2020. Through its wholly owned Peruvian subsidiaries, Forte either owns, controls or, has an option to control three prospective gold and copper exploration projects in Peru. Forte Copper’s business strategy is focused on exploration target development, testing and resolution, and resource development within prominent and under-explored copper and gold regions of Peru.

Joanne C. Freeze, P.Geo., CEO, is the Qualified Persons as defined by National Instrument 43-101 for the projects discussed above. She has reviewed and approved the contents of this release.

This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente Copper relies upon litigation protection for forward-looking statements.

On behalf of the Board of Candente Copper Corp.

“Joanne C. Freeze” P.Geo.
President, CEO and Director
___________________________________
For further information please contact:

[email protected]
www.candentecopper.com

Tags: #Canariaco, #copper, #Fortesque, #Freeport, #Gold, #GoldmanSachs, #JointVenture, #mining, #peru
Posted in All Recent Posts, Candente Copper | Comments Off on Candente Copper $DNT.ca Agreement Signed with Forte Copper on Don Gregorio Copper-Gold Project, Peru $DNT.ca $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Client Feature: The 4 Reasons Goldman Sachs Believes Candente Copper $DNT.ca is a World Class Company $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Posted by AGORACOM at 12:56 PM on Friday, November 13th, 2020

The 4 Reasons Goldman Sachs Believes Candente Copper is a World Class Company

Candente Copper (TSX: DNT, BVL: DNT) owns 100% of a copper deposit in Peru and has big plans to become a miner.

Candente owns a large, economic, copper ore body in Peru waiting to be mined. Cañariaco Norte is a 100% owned feasibility-stage porphyry copper deposit.

Simply put, it is a mountainous rock body that holds 7.5 billion pounds of copper and has had multiple scientific studies propelling it along the way toward production. Strengthened by Goldman Sachs belief it is one of the top 80 copper deposits yet to be exploited and strategically guided by Australian Iron Ore giant Fortescue’s 19% inside ownership, Candente has the lowest quartile production costs that make it an intriguing project today and a must have for tomorrow.

Reasons Why Candente Copper is A Top Small Cap Copper Company

1. Goldman Sachs has Canariacao Norte listed as one of the top 80 projects waiting to be developed worldwide and is top 42 in South America. Mining projects take a long time to be developed due to the strict standards required to prove metal content in the ground, which Candente has proven it has tremendous amounts of.

A single, contiguous, open-pit mineable deposit of 7.5B pounds Measured and Indicated and can be mined for 22 years once in production speaks to the stability of the project

2. Supported Strategically by Fortesque’s 19.9% Ownership

Fortesque is recognized as a global leader in the mining industry. Fortesque holds 19% Candente and became involved to advance Canariaco further into development. Fortesque committed 1$Million in January 2020 with an eye toward production and is considered a strategic investor, which means they have a long-term timeline for joint exploitation of the asset.

Fortescue is one of the largest global iron ore producers, recognized for its culture, innovation and industry-leading development of world class infrastructure and mining assets in Western Australia. This is truly a partnership which seeks to equally progress Canariaco into development and Candente into production status. The accepted odds for a discovery to find its way into production is about 1 in 1000, and speaks to the sheer difficulty of the exercise.

Candente is close to the finish line and Fortesque is there for the final push.

3. Canariaco is in the lowest quartile of production costs

Once in production Canariaco is in the lowest quartile of production costs for projects waiting to be developed Operating costs of US$0.988 per pound of copper

Canariaco has 7.5Billion pounds of copper measured and indicated capable of generating annual production of 262,000,000lbs of copper, 39,000 oz gold & 911,000 oz silver over initial mine life of 22 yrs(@ 95,000 tpd). A long stable mine life is what attracts quality investors like Fortesque.

Canariaco is a stable, long term investment once it is producing because its output is consistent every year. The risk has been removed from the project.

4. Canariaco is the 1st of 3 projects all in the same area waiting to be discovered.

Candente has the opportunity to make further discoveries through Canariaco South and Quebrada Verde, both within a 5km trend that shares infrastructure. Management believes Canariaco Sur is a mineable deposit and will add tremendous support to shareholders in the future. Quebrada Verde demonstrates the same minerology and potential as both Norte and Sur which and requires future exploitation

Each of these projects will benefit greatly from Canariaco’s development as it will make development even cheaper than Canariaco Norte due to the infrastructure that will be in place, possible pushing Canariaco’s future overall costs even lower.

Click Here To Discover Why Candente Copper is Tomorrow’s Copper Deposit to Be Owned Today

Tags: #Canariaco, #copper, #Fortesque, #Freeport, #Gold, #GoldmanSachs, #mining, #peru
Posted in AGORACOM Client Feature, All Recent Posts, Candente Copper | Comments Off on Client Feature: The 4 Reasons Goldman Sachs Believes Candente Copper $DNT.ca is a World Class Company $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

As China Goes Green, Copper Market Expected to Tighten Further SPONSOR: Candente Copper $DNT.ca $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Posted by AGORACOM at 2:28 PM on Wednesday, November 4th, 2020

The most pessimistic forecasts of copper demand, and pricing, during the worst pandemic in 102 years, have failed to materialize.

From a four-year low in March, when the coronavirus slammed into Europe and North America, the red metal used widely in construction, communications, transportation and energy transmission, has mounted a serious comeback.

As of this writing spot copper is trading at $3.08 per pound, compared to around $2.10/lb in mid-March – a gain of 46%. The spot price has stayed above $3.00 since Oct. 8 – which is remarkable considering the reports of impending economic doom, amid a second wave of covid-19 infections in Europe and North America.

The following analysis by AOTH has copper showing no signs of slowing down; in fact, while the copper market was tight before the pandemic began, we expect it to tighten even further, due to a constellation of factors, starting with China.

The Chinese economy became the first major world economy to return to its pre-virus growth trajectory, when it posted positive numbers in the second quarter. Recent figures from China’s National Bureau of Statistics indicate that third-quarter GDP growth is up 4.9% from a year ago. Between April and June, Q2, the bureau reported a 3.2% rise. The Chinese are well ahead of their trading rivals as they strive to put the pandemic for which they were responsible, behind them.

According to the World Bank and the OECD, the Chinese economy in 2020 will grow 2% – the only G20 country to mark positive economic output this year. Beijing has managed to largely contain the virus in recent months after the pandemic shut down its economy. Commerce and travel have been allowed to resume, which is driving economic growth and fueling demand for copper and other industrial metals, like aluminum and nickel, whose prices are also climbing.

Other reasons for a rising copper price include covid-related restrictions imposed on the copper mining industry, along with speculative interest in the metal due to a weaker US dollar.

Copper output from the world’s top 10 producers declined 3.7% during the second quarter, due to nation-wide lockdowns in Chile, Peru and Mexico.

China’s copper dominance

Chinese growth statistics have always figured prominently in copper price forecasts – no surprise considering that China is responsible for just under half of the world’s production of copper and copper alloys semis, the industry term for first-stage products made from refined copper.

The Asian superpower is also the largest importer of unwrought copper, along with copper ores and concentrates.

Its manufacturing sector back on track, China’s copper imports rose sharply over the past four months; in September, the country imported 62% more copper than the same month in 2019. Unwrought copper imports of 4.9 million tonnes during the first nine months of the year, were up 41% from the same period last year.

According to Reuters columnist Clyde Russell, China has been vacuuming up copper, boosting the price at a time when demand elsewhere in the world was looking sickly as the virus spread.

Why is China importing so much copper? Russell claims the buying spree is being driven by Beijing’s stimulus spending following the national lockdown during the first four months of the year. But he also says it is likely that substantial volumes of copper are flowing into stockpiles, either strategic or commercial.

We agree, and have been writing quite a bit about this lately.

Obviously we can’t say for sure, given China’s opaque statistics, but we suggest a good chunk of the raw materials are going into bulking up the Chinese Military, in particular its navy patrolling the South China Sea. In other words, China is preparing for war.

The mining industry’s experience of China locking up the world’s mineral resources testifies to how far the Chinese will go to ensure their ever-growing demand for mined commodities is met.

Locking up supply

While iron ore ad copper were the hot targets of overseas acquisitions by Chinese firms as they sought to feed an economy that up until 2015 was growing at double digits, the Chinese have also gone after gold, nickel, tin and coking coal. More recently the most desired metals are those that feed into the global shift from fossil fuels to the electrification of vehicles. This has meant a hunt for lithium, cobalt, graphite, copper and rare earths – metals that are used in electric vehicles, of which China has become the world’s leading manufacturer. EVs use a lot of copper, four times as much as a regular vehicle, and China hasn’t been shy about boosting its copper reserves to meet expected demand.

Two large Peruvian copper mines are owned by Chinese companies. Chinese state-run Chinalco owns the Toromocho copper mine, while the La Bambas mine is a joint venture between operator MMG (62.5%), a subsidiary of Guoxin International Investment Co. Ltd (22.5%) and CITIC Metal Co. Ltd (15%). The Chinese-backed Mirador mine in Ecuador opened in 2019.

Most of the metal produced under these off-take agreements will NEVER come to the market anyplace other than in China. Those metals that do, can have their supply shut down any time the Chinese want.

In Brazil, Chinese banks and investment groups have committed $15 billion of a $20b China-Brazil Fund, launched in 2016 to finance infrastructure projects.

The Made in China 2025 initiative, which aims to make China’s copper industry more efficient, is expected to grow Chinese copper demand by an additional 232,000 tonnes by 2025. This isn’t counting the need for more copper for railways, electric vehicles, car motors and power transformers.

SOURCE: http://www.marketoracle.co.uk/Article67933.html

Tags: #Canariaco, #copper, #Fortesque, #Freeport, #Gold, #GoldmanSachs, #mining
Posted in All Recent Posts, Candente Copper | Comments Off on As China Goes Green, Copper Market Expected to Tighten Further SPONSOR: Candente Copper $DNT.ca $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Client Feature: The 4 Reasons Goldman Sachs Believes Candente Copper $DNT.ca is a World Class Company $CN.ca $FCX.ca $TECK.ca $FSUGY $PER.ca

Posted by AGORACOM at 9:41 AM on Friday, October 23rd, 2020

The 4 Reasons Goldman Sachs Believes Candente Copper is a World Class Company

Candente Copper (TSX: DNT, BVL: DNT) owns 100% of a copper deposit in Peru and has big plans to become a miner. Candente owns a large, economic, copper ore body in Peru waiting to be mined.

Cañariaco Norte is a 100% owned feasibility-stage porphyry copper deposit.