Copper breaks above US$4

Hey everybody,

This is your Resource Stock Digest editor Gerardo Del Real with some Monday morning thoughts as we watch copper’s rise.

It's going to be another exciting week with copper now trading above the psychologically important US$4 mark… presently at US$4.07 per pound. The red metal has made a pretty significant move here the last couple of weeks that I believe is signaling a rebound in Chinese demand.

It’s no coincidence that lithium — which, several weeks ago, I mentioned I believed was bottoming — absolutely has bottomed and looks to be turning higher. It’s also no coincidence that the equities are starting to follow suit.

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Turning to gold, I’ll be watching to see if the yellow metal can break convincingly above the US$2,200 per ounce level despite the dollar index remaining firmly above 103. 

We’ll also be looking to see if uranium has put in a new floor at current levels or if it goes back into the US$70s (per pound). Again, I think this pullback in the uranium space is a healthy consolidation, and I think the equities currently present a pretty compelling opportunity.

In terms of company-specific news, I'll be looking for Patriot Battery Metals (TSX: PMET)(OTC: PMETF) to hopefully provide an update on the Albemarle (NYSE: ALB) MOU along with results from CV9, which I believe could be a game-changing discovery. 

Certainly, a lot to watch!

As I mentioned, we’ve got copper moving higher. And, thus, we’ll be keeping a very close eye on Hannan Metals (TSX-V: HAN)(OTC: HANNF), which is up some 50% in just the past few trading sessions.

Should be another exciting week, folks. 

Let's get it!