Nevada Copper (TSE:NCU) reports further drill results at its Pumpkin Hollow property, Nevada. Drill results reported here represent results from Nevada Copper’s current drill program which has recently been increased to 45,000 meters (148,000 ft). For complete news release, click here. For Nevada Copper’s company release, click here.
Copper dropped on Tuesday, marking the first time in five days that the metal treaded into negative territory. Copper for delivery in three months fell $91, or 1.2 percent, to $7,419 a metric tonne at 10:07 a.m. on the LME.
Copper enjoyed a welcome relief rally last week; but on Tuesday, the recovery was snapped as negative consumer sentiment sent equities across the US and Europe downward.
Copper commenced Tuesday in positive territory, extending Monday’s winning streak on the back of the longest run of inventory declines in over a year. Copper is ignoring overall market sentiment as lower than anticipated earnings reports from both Goldman Sachs and IBM wreaked havoc on the American and European stock markets.
Copper surprised analysts Tuesday, recovering from Monday’s losses. Copper prices dropped on Monday, over concerns regarding China’s demand for the base metal.
Opawica Explorations Inc. is a junior explorations company with interests in the exploration and development of mineral resource properties. They main focus is the 100% owned Atikwa Lake-Mayburn gold and copper project located near Kenora, Ontario.
Easing concerns over the state of the global economy sent copper on its first winning streak in months. Monday marked the fourth straight day that the metal was in positive territory. Copper closed last week with the biggest weekly gain in over four months.
Copper prices started Tuesday’s session flat- after a welcome rally on Monday. Monday marked the sixth straight day that the red metal rallied; the longest ascent the metal has experienced in more than five months.
If copper continues down the same path, by week’s end the industrial metal may hit values not seen since the recession. Copper opened Tuesday’s session with volatility, swinging between gains and losses in line with the greenback.
Copper hit a week low Tuesday, as fears over China’s economic strength prompted selling of base metals. On the LME, copper for delivery in three months was down 3.7 percent to $6,680 per tonne.
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