In 2019, the copper market has been in a doldrum. There was a huge short that led the spot price into mid-$2.
Although with the new year and renewed outlook on world wide economy, the copper market is starting another bull run. This looks really promising as there isn’t much supply coming into market and demand is robust. RBC recently put out a report on their copper expectations and they are looking at $3 prices in 2020.
We believe copper is poised for a rally back to $3.00/lb in 2020 as economic conditions improve (modestly) and we expect limited supply growth before 2021
If we see the $3 prices, Oroco will be looking at really good M&A prices. I expect 2020 to be the year Oroco is sold. So high copper prices will mean really good for the coming competition for acquiring Oroco.