It's nice to see that others notice these things.
Higher than average volume actually started 7/1 and has continued to climb. Why? Maybe a leak in the BMO upgrade or maybe SCCO is just catching up to its peers.
Whatever the reason, I'll take it.
Have you been living under a bushel basket?
Obama has openly stated his intent to reduce coal as a source of fuel for U.S. Power plants. He even stated “this would necessarily significantly increase the cost of electricity” (look it up). His stated intent is to lower emissions but it's really to curry favor to his base environmentalists and get their dollars and votes. The unintended consequences are that China and India continue to build coal fired power plants at a rate of about one per week and gain a further competitive advantage on U.S. manufactures by virtue of lower coal and electricity costs. Since global warming is a global problem (and a myth IMO) what has Obama's position on U.S. coal fired power plants really done for this “global problem”?
As to your statement that wind and solar are more efficient methods power generation ….. why don't you tell that to China and India so that can understand that they're spending billions on old less efficient technology or maybe, just maybe, they're not a stupid as some believe and they've done their own cost/ benefit analysis.
Did you happened to notice that in late June Obama, by executive order, opened the door to the 40 year congressional ban of the export of U.S. crude oil? Some say the unintended consequences of this action could bring the cost west Texas crude more in line with Brent and result in higher gasoline prices in the U.S., higher profits for U.S. producers and lower margins for U.S.refiners. Ask yourself why would he do this when we still import more than 20% of our oil from people who hate us and help fund people who want to kill us?
Obama is an empty suit and the people who tell him what to do are ideologues who couldn't run a car-wash. They do not have the best interests of this county at heart or …... they're just plain incompetent or worst evil.
Always remember ….. it's an undisputed fact …... that before you can re-distribute wealth someone by virtue of their hard work, sweat, risk and ingenuity has had to earn that wealth. This then enables the government(s) to confiscate a portion of that wealth to give it to others who have not earned it. But alas, both the earners and the takers get one vote ….. if they're citizens. Which brings up the question why do non-citizens get ANY unearned benefits from our government?
Anyone notice that since COB 6/3, FCX is up about 2.2% while SCCO is down about 2.72%. That's an almost 5% diversion in just 2 1/2 days!
Makes me wonder why? No news and these two are going in different directions ...... I know, I know, its only a short-term fluctuation ...... but why have the tutes so quickly moved these two in different directions?
Does anyone else smell manipulation?
Everything you say in today's world is correct ..... but, if my number of 7% loss is right, how much could be saved by a more efficient conductor? In the case of copper that would be a maximum pick-up of about 4.5% free electricity EVERY YEAR!
I'm old but not stupid. I know that spending money is the last thing utilities want to do to upgrade an old and inefficient grid but sooner or later its got to happen. Super conductors are also being investigated which may result in almost no power loss during transmission (an incremental 2.45% pick-up over copper) but in today's world they make even less economic sense than copper.
As far as underground is concerned, our country is riddled with pipelines ....... wouldn't it be cheaper to put the pipelines above ground? Sure ....... but think about the danger and the maintenance not to mention the view (there's probably some laws involved too).
We built an interstate highway system in about 4 years (?) why not make it a national priority to revamp our electrical grid to the best in the world. Think about the jobs that would create ...... not only in construction of the grid but in industry that would benefit from lower electrical costs. Even Joe six-pack could benefit ..... year after year.
IMHO the only thing that stands in the way is our elected politicians ...... they would have to agree and then eliminate some wasteful spending to help offset some of a grid upgrade costs.
Wanna bet it will not happen in our lifetime.
Seems to me that with Obama's latest push to kill our coal fired plants to save the world(?) and resultant increased cost of future electricity, the door MAY BE forced open to increase the efficiency of power grids which some say lose 7% of the all power transmitted.
My memory (?) tells me that copper is about 65% more efficient in electrical conductivity, thermal conductivity and ductility ...... so ....... despite higher present cost, and weight, might copper make inroads in power transmission in the coming years?
Would this be a better investment than wind farms and solar? Looks like we're on the verge of a ramp-up to spend TRILLIONS so that China and India can continue to build a new coal fired power plant every week and expand their competitive advantage!
We all know that nuclear is the ultimate answer ..... but you still have to transmit that power, get rid of the waste and fight the environmental community who hold great political sway over the Democrats ...... to the detriment of our country and it's competitiveness. Natural gas may be an alternative for us but what about for other industrial countries (i.e. Europe and Japan)?
Last thought ..... might we be better off to start placing grid cables underground? How much higher is the cost of going underground versus the long-term cost of maintaining above ground cables? If it's really that much higher why are almost all urban and suburban lines to newer home developments now underground?
Just a little free thinking ..... what say you?
So ..... either Oscar misspoke or the reporter was deaf or the meeting minutes were wrong or somebody in the meeting told Reuters what was said or ..... ?????
But ..... in correcting the article, we just lost 2400 tons of 2014 copper production that the 10Q showed on 5-5 (672400) but ...... what the heck ..... that's only $14.4 mil at $3 per pound .... hardly worth mentioning.
Or ..... maybe when everybody sobers up, they'll correct the correction.
Now we may know why the recent rise in SCCO share price.
On 5-5-14 SCCO stated in the 10Q they expected to produce 672400 tons of copper in 2014 versus last years 670000 tons. So a rise to 800000 tons this year represents a 19.4% rise from the 2013 and an 18.98% rise from their 10Q statement on 5-5.
Since the latest estimate is only about 2 weeks after the 10Q estimate one has to wonder when did they really know about their latest estimate and more importantly ....... who else knew ..... ergo the share price pop.
It will be interesting to see if SCCO bought any more shares and when. Does anyone else smell a rat.
You misinterpret my comments ..... I was genuinely puzzled by the meaning of the word Adacama.
I was afraid that you really meant "academic" in which case I'd never believe another word you posted ..... thankfully, you just misspelled the word Atacama .... so, no big deal.
Now ..... to my question, is there anything interesting going on in that wasteland that we may find of interest (like where do you get the water for mining, etc.). I thought that the Atacama was a haven for abandoned mines.
Lastly, if water is really so scarce in the Atacama, I find it difficult to believe it would wasted it on "three peckered billy goats" ..... unless a periodic break from work is REALLY IMPORTANT?
P.S. Did you happen to see any of the Dakar Rally which I believe passed through parts of the Atacama?
What the heck is Adacama? Did you mean ATacama?
Do you really work there and if so, what's going on with regard to mining down there?
Ya know back in another lifetime (1978 to 1988) one of my minor responsibilities was the purchase and use of many tons of moly ...... how many tons I can't recall but it was in "puck" form. We kept it under lock and key and distributed to the melting department of what was then the SECOND LARGEST foundry in the world on the basis of tons melted. At the time we employed about 4500 workers on a three shift basis.
We used the Moly to make nodular iron and combined it with a little chrome to manufacture crankshafts and camshafts which we made by the tens of thousands per year.
That foundry is now a VACANT FIELD and all the many products we made (blocks, heads, cams, cranks, exhaust and intake manifolds, etc) have been in great part been replaced by aluminum, forgings, stainless steel fabrications, plastic parts, etc. which are all made by vendors outside the still existing company and largely outside of our country. The plant in which I helped manage was THE LAST (after I left) of what was once five Iron foundries and one aluminum casting plant.
i could go on with this sad story the word Moly made me recall. In closing, let me say that the loss of many many thousands of jobs associated with the closure of these plants was by and large caused by BAD MANAGEMENT which I fought to limited avail at a high level. It reached a point that I could no longer tolerate and therefor I retired from the auto industry in 1988 at the age of 46 and after 25 years.
But ..... I'll take to my death the question ...... did I do everything I could and could I have done something better. Time passes and products evolve but iron and aluminum is still used in cars and trucks ...... it's just not manufactured by the company that uses it.
Small consolation my foundry was the last to go.
Sometimes when we experience a big gain (or loss) like today AND I have nothing better to do, I TRY to figure out what's going on.
So ...... I went to the Yahoo interactive chart and noticed that at 10:54, 10:55, 11:23, 1:21, 3:37 ,3:38, 3:44, 3:45, 3:57 and at 4:00 there were large volumes of shares traded. At each of these one minute intervals a minimum of 28600 and a maximum of 76,400 shares changed hands. The total of these 11 trading minutes represent 441,900 shares (assuming the accuracy of the yahoo charts).
What do I conclude from these numbers ....... "someone(s)" is accumulating. I found it especially interesting that in the last 16 minutes of trading 5 of these major transactions accounted for 246,700 shares ...... so what? Maybe tomorrow will be another good day.
The question I can't answer is WHY (and it's NOT moly price). Sure..... copper price is also up but does this explain a 4% + pop in SCCO in one day? Me thinks 'someone" knows something and it sure as heck isn't me.
Could it be that Dar is just working his biggest dinner trade of all time. Dar ..... I demand that you explain yourself.
Hmmm ...... why the nice pop shortly after open today?
Could it be that "someone" bought almost 60,000 shares? Questions are: Who and more importantly why?
"Somebody" put about $1.5 million of their dollars to work on no new news ..... or, is there some new news that we private investors are not yet aware of?
Hey Warm nice to here from you again.
Low Q1 GDP was caused by bad weather ..... does this debunk the theory of global warming?
The "market" expects stronger growth in subsequent quarters ...... how many times have I heard that old saw ...... but I guess beating .1% shouldn't be too tough.
Copper should rebound ..... maybe so. Copper has a lot of REAL uses in everyday life ..... as does silver, do you think silver will also rebound?
Bottom line, a better economy continues to be "just over the horizon" ..... trouble is, where is the horizon? I suspect it'sat the end of this November and IF the Republicans take the Senate, we'll find out within about a month how their policies have dealt a death blow to that economy that was "just over the horizon".
Always remember, in life, only one thing is important ..... getting re-elected. And, as revealed in the growing Benghazi scandal some things are worth changing the FACTS as long as it's for the greater good ...... getting re-elected ...... the TRUTH be dammed "what difference does it make at this time".
Me thinks we're being fed a lot of misinformation or, in other words, lies..... and that applies to Benghazi and the state of our economy.
Hmmm ..... as I post, Gold is down, Silver is down, Copper is down, SCCO profits are down, GDP is a HUGE disappointment and the DOW and S&P are UP and SCCO's share price is UP slightly.
Does this make any sense?
It makes me wonder what is going on in the background to bolster this seemingly unexplainable diversion and HOW LONG CAN IT GO ON? If I were into conspiracy theories I'd suspect the heavy hand of the plungers in advance of a mid-term election ..... but that's just me.
If nothing changes the old saw of "sell in May and go away" may prove to be doubly true this year. It's too bad that I can't really do a wholesale sell without sending a significant amount of $$$ to the government in the form taxes and thereby enabling the addict ..... they've trapped me.
What to do ...... free-up cash by selling the few poor performers that I hold or at least the few poor preforming lots that I hold and then wait to re-enter the market and/or buy more insurance in the form of Gold or especially Silver. This will take some thinking ..... something that becomes more difficult as one ages.