Stock Guru Profile: NETYF Power Point Presentation of Chilean Trip
Stock Guru looks at the price of copper.Driven by a global economic boom – above all, the explosive growth in China – copper soared from 65 cents a pound on the spot market in early 2002 to a high of $3.98 on May 11, 2006. NETYF is settling in to its Chilean Agreement.
While the price of copper has declined since May in part due to the slump in the U.S. housing market and a reduction in China’s demand Richard Schnoor of NETYF indicates prices will continue to support their exploration projects. “Copper prices are still four times higher than in the nineties making our Caldera Project in N. Chile an exciting program as we near the drilling stage. Many of our surface results have been well over 1% copper with the potential for higher grades when we drill to greater depth”.
The International Copper Study Group noted that copper output in the eight months to the end of August outstripped demand by 84,000 tonnes. This was a reduction from the year end earlier production shortfall of 233,000 tonnes. There was an 88,000-ton surplus in August alone, up from 26,000 tonnes in July and 7,000 in June, the organization said. As with many other base metals, low prices through much of the 1990s led producers to skimp on investment in new capacity, leaving supply tight as demand has risen.
China will have to step back into the spot market, but also because of the impending Dec. 31 expiration of a contract between state-owned Codelco of Chile and its workers at the company’s giant Chuquicamata mine in northern Chile. Chuquicamata vies for the title of the world’s largest copper mine with the Escondida mine, also in Chile, which accounts for 36 per cent of world copper production. Escondida was hit by a 24-day strike in August. It is owned by BHP, which will lose its title as the world’s No. 2 copper producer to the Freeport-Phelps combo, assuming their deal is consummated.
Richard Schnoor is encouraged by the recent merger between Freeport and Phelps Dodge. “Programs, such as our Caldera Project, have the attention of major producers looking to increase production with base metals at these high prices.”
The proof is in the image and the assay results. Link here to view the results of the recent trek to Chile.Stock Guru: NETYF
Source: Richard Schnoor NETYF, The Globe of Canada, and International Copper Study Group
Network Exploration Ltd. — NETYF
505 Burrard St.
Suite 1880
Vancouver, BC V7X 1M6
CAN
Website: http://www.net-explore.com/
Phone: 604-681-3864
Fax: 604-681-1265
About Network Exploration: Network Exploration Ltd. is a mineral exploration Company committed to building shareholder value through the acquisition of base and precious metal properties in North and South America. For additional information, contact the company at 604 495-6302 or visit our website at http://www.networkexploration.com/
Forward Looking Statements: This news release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
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