{"id":9880,"date":"2024-05-20T12:33:12","date_gmt":"2024-05-20T12:33:12","guid":{"rendered":"https:\/\/economicherald.net\/?p=9880"},"modified":"2024-05-20T12:33:12","modified_gmt":"2024-05-20T12:33:12","slug":"free-whelan-nickels-minor-pickle-and-a-hand-for-the-cu-believers","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=9880","title":{"rendered":"FREE WHELAN: Nickel\u2019s minor pickle and a hand for the Cu believers"},"content":{"rendered":"

In this Stockhead series, investment manager James Whelan, managing director\u00a0Barclay Pearce Capital Asset Management<\/a>, offers his insights on the key investment themes and trends in domestic and global markets. From macro musings to the metaverse and everything in between, Whelan offers his distilled thoughts on the hot topic of the day, week, month or year, from the point of view of a professional money manager.<\/p>\n

Good afternoon and a happy week ahead.<\/p>\n

The rain so unexpected by the BOM this year has passed and, say it quietly, but maybe the golf courses will allow carts to go around again. Blessed day.<\/p>\n

Along with this is an opened, closed and successfully raised $3 million for Impact Minerals (ASX:IPT)<\/strong><\/a> to now proceed into the next stage of their life of producing High Purity Alumina.<\/p>\n

Not that this is a spruiky newsletter (officially) but it\u2019s amazing the see what a determined group of people can do.<\/p>\n

This team I\u2019ve joined are capable of anything, and whilst I act and talk like Ted Lasso, it\u2019s nice when everyone believes the same way I do.<\/p>\n

Thank you all.<\/p>\n

Via Whelan at Work<\/em><\/p>\n

We mentioned this on the Friday Theory of Thing podcast as well as a lot of things about copper which I\u2019ll go into here, along with some things on the Fund Manager Survey<\/a>.<\/p>\n

Regarding copper, we\u2019ve seen an all-time high. Can you believe it?<\/p>\n

Chart for those that can\u2019t believe it.<\/p>\n

Via Trading View and<\/p>\n

This chart is a monthly chart back to the late \u201990s when everything wasn\u2019t so awful.<\/p>\n

It was around February this year when I started to get very excited about copper, urging positions to be taken in any way possible.
\n\u00a0<\/p>\n

Copper ETFs I have loved<\/h2>\n

The usual ETFs I prefer are COPA on the LSE and WIRE here in Australia (thanks Global X) and if you\u2019re chasing a small cap then we\u2019re close enough to Alma Metals (ASX:ALM)<\/strong><\/a> to say it\u2019s well levered to the price of copper to be doing better then it is.<\/p>\n

Keep an eye on it.<\/p>\n

Re: copper, eh have a listen to the podcast by the Odd Lots crew at Bloomberg. They interview on the of the best in the commodities space, Jeff Currie of the Carlyle Group, and it\u2019s a great summary of the road ahead.
\n\u00a0<\/p>\n

Oh, and I can\u2019t keep repeating myself on this<\/a>\u2026<\/h2>\n

Via Whelan Internet<\/em><\/p>\n

Ok. Apparently I can. I\u2019ve been at it for a while now.
\n\u00a0<\/p>\n

Nickel in a pickle<\/h2>\n

Whilst on commodities there\u2019s a bit of trouble in New Caledonia at the moment as they struggle for independence. The nickel market is apparently oversupplied and so if you were long the critical metal then maybe it\u2019s a good time to take the foot off the gas.<\/p>\n

Western Mines Group (ASX:WMG)<\/strong><\/a> has a \u201cglobally significant\u201d holding of nickel and it looks to be, as the couch commentators would say, poised to break out in one direction or another. That\u2019s a coward\u2019s way of saying\u2026<\/p>\n

I don\u2019t really know.<\/p>\n

I hope for a speedy resolution in New Cal, a place I will never visit again since I went in 2018 with the wife and discovered it\u2019s completely overrun by snakes trying to get in your hotel room.<\/p>\n

Via Whelan Holidays<\/em><\/p>\n

Next metal is magnetite, with the WA government doing their best to talk it up.<\/p>\n

We agree and see no reason to disagree any time in the future. This from the AFR today.<\/p>\n\n

Also this, displaying something I\u2019ve always found off about West Australians.<\/p>\n

Screenshot via AFR\/Whelan Media<\/em><\/p>\n

As for the US the market keeps growing, see below. It does look like it could be time for a breather though, even if only on the very short term.<\/p>\n

Via Carson\u2026 and James Whelan obscure charts dot com<\/em><\/p>\n

\u00a0<\/p>\n

Stay safe and all the best,<\/p>\n

James<\/p>\n

\u00a0<\/p>\n

The views, information, or opinions expressed in the interview in this article are solely those of the writer and do not represent the views of Stockhead.<\/em><\/p>\n

Stockhead has not provided, endorsed or otherwise assumed responsibility for any financial product advice contained in this article.<\/em><\/p>\n

<\/span><\/p>\n

The post FREE WHELAN: Nickel\u2019s minor pickle and a hand for the Cu believers<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

In this Stockhead series, investment manager James Whelan, managing director\u00a0Barclay Pearce Capital Asset Management, offers his insights on the key investment themes and trends in [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":9881,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nFREE WHELAN: Nickel\u2019s minor pickle and a hand for the Cu believers - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=9880\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FREE WHELAN: Nickel\u2019s minor pickle and a hand for the Cu believers - 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