SFR has largely shrugged off a relatively weak copper price, a good sign for the bulls, with the strength helped by the ASX’s lack of alternatives for pure copper exposure since BHP acquired OZ Minerals (OZL). Like ourselves, the market in general clearly is reticent to reduce its exposure to the industrial metal – another attempt of the $US4.00 area could easily see SFR test our target area – the copper producer is due to report next Friday, the 23rd of February.
- We intend to remain patient about taking profit on our SFR holding, our current target is the $7.50-8 area – MM holds SFR in our Active Growth and Emerging Companies Portfolios.
MM is long and bullish SFR
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