Topic: How To Invest

Do you have any thoughts about the prospects for Candente Copper and for copper prices in general for 2012? Many thanks for your advice over the years.

Article Excerpt

Candente Copper, $1.03, symbol DNT on Toronto (Shares outstanding: 118.6 million; Market cap: $122.2 million; www.candentecopper.com), is developing the large-scale Canariaco Norte copper/gold/silver deposit in northern Peru. The deposit holds as much as 8.9 billion pounds of copper, 2 million ounces of gold and 53 million ounces of silver. Candente handed out shares of Cobriza Metals (Toronto symbol CZA) to its shareholders in October 2011. Cobriza holds all of Candente’s properties in Peru except for Canariaco Norte. Candente holds cash of $20 million U.S. That’s enough to complete its feasibility study on the financial viability of a mine. If the company decides to go ahead, it will need to find a major partner, because it will cost over $1.6 billion to develop a mine at Canariaco Norte. Copper prices have moved up close to $4 U.S. a pound after dropping to almost $3 in October 2011. That was mostly due to concerns about a weakening global economy. But the longer-term outlook for copper…