Fortuna (FVI.v) up 5.4% at $0.97. Good. More to come.
Cosan (CZZ) up 2.4% at $4.61. With sugar trading around the $15.50 level at the same time as Cosan’s main selling season, cash flow’s looking healthy. Is it a trade at this price? I dunno…and when I dunno I err of the side of whuss and stay away.
Freeport (FCX) down 2% at $50.76 and Southern Copper (PCU) down 3.8% at $19.61. The sisters are taking a rest as copper declines once again. From scanning reports and such this morning I get the impression that the (copper) penny is starting to drop and anal yeasts are starting to realize there is no end user demand out there, not even in China. More thoughts on this later today (or tomorrow if I fall asleep). Meanwhile, here’s the three month chart comparing FCX and PCU…yes, we have a winnah