Red metal not forgotten

WHILE nickel’s recent meteoric rise has caught most of the headlines, copper has been staging a resurgence of its own. Sitting at just $US5306/t early last month, copper is now back up $US6606/t after steady recent falls in copper stockpiles. However, the gain was of little consolation to Universal Resources, which was hammered after announcing it would have to scale back its proposed copper development in order to secure finance.