GLG News by Copper Pricing Trend Experts

Jack LiftonCo-founder and DirectorTechnology Metals Research, LLC

Toyota's Business Model is The Reason That Detroit Should Not be Bailed Out

December 10, 2008

Analysis of:Toyota Tsusho Launches Rare Earth Business | www.toyota-tsusho.com

There is a simple reason that Toyota has grown steadily over the last 25 years from a maker of low quality inexpensive cars for the Japanese domestic market into the world's largest and most profitable-from the sale of vehicles-auto maker. The reason is long term planning coupled with continuous feedback sought from its customers on how to improve its products.   No matter what is said about the management of General Motors it, the arrogant and self-absorbed and self perpetuating group that has run GM for more than 25 years has failed miserably to even notice how Toyota achieved its success. Now in league with politicians bought and paid for by union interests the pathetic management of GM having exhausted its right to a seat at the free market capitalist table will apparently simply continue on as a nationalized company until finally it cannot sell anything and simply disintegrates on the same day as its 3rd or 4th government handout is finally refused.

Jack LiftonCo-founder and DirectorTechnology Metals Research, LLC

Not All Metals Are Commodities. Critical Ones Must be Recycled No Matter What The Cost.

December 9, 2008

Analysis of:Back at junk value, recyclables are piling up | www.iht.com

As finite supplies of critical raw materials are used up or squandered in dissipative uses from which they cannot be economically recovered their supply becomes more and more price sensitive. Many minor metals are for this reason rapidly becoming more valuable even though this fact has been masked by the blind attempt of the investment community to class all metals as 'commodities" and to denigrate their value and to simplify ignorantly the amount of work necessary to restore their production.

Jack LiftonCo-founder and DirectorTechnology Metals Research, LLC

GM's Volt Project Depends For Its Success On The Notoriously Secretive Asian Battery Industry, Which Will Not Make A Battery Outside of Their Asian Home Countries In Order To Maximize Competitive Advantage. How Then Can Rick Wagoner, Or His Successor, Know When Or If GM Will EVER Get A Working Battery System?

December 8, 2008

Analysis of:Short Supply: American-made Electric Car Batteries | www.evworld.com

General Motors has failed completely to support its local nickel metal hydride battery maker, COBASYS. Earlier this year when Chevron, one of the joint partners in (C) Chevron (O) Ovonic (BA) Battery (SYS) Systems said it would no longer fund the unbroken annual losses of COBASYS and that its partner, Energy Conversion Devices, Inc, was free to do so on its own, it looked as if COBASYS would soon be gone, since ECD admitted it did not have 88 million dollars to cover COBASYS' expected deficit for fiscal 2008-9. General Motors leaped into the fray and said that it would buy out Chevron and ECD's interest in COBASYS and that it, GM, would use the company ultimately as an intake center for lithium-ion batteries. This hasn't happened. COBASYS batteries for the 2007 model year of GM's hybrids were 100% recalled, so the idea of putting this failed company in charge of li-ion battery quality control seemed lame even to those who still believe GM's PR about the Chevrolet Volt.

Jack LiftonCo-founder and DirectorTechnology Metals Research, LLC

Compact French Electric Vehicle Propulsion System Puts Any Size Vehicle, Large or Small, Within Reach And Could Make Battery-Type, or Batteries Themselves, Irrelevant

December 8, 2008

Analysis of:Revolutionary Wheel for Electric Cars Puts Guts Inside Wheel | gas2.org

One powered wheel and a battery of any type can make a motorbike, two powered wheels and a battery of any type can make a powered freight or passenger carrying cart, three or more powered wheels and a battery of any type can make a car, 8, or more, can make a truck, and with a third rail or an overhead wire connection 8 or more can make a bus, passenger carrying railcar, freight carrying railcar, subway car, etc.   The size of the wheel and of its contained motors can be increased to make long haul freight or passenger carrying vehicles.

Bradford MillsChief Executive OfficerMANDALAY RESOURCES CORPORATION

Metal prices have more to fall before the correction is over

December 5, 2008

Analysis of:Metal prices fall further than during Great Depression | www.telegraph.co.uk

Despite the 50%+ falls in the prices of copper, nickel, zinc, lead, Pgms, and Aluminium since early 2008, most metal prices are only just now reaching the average cash cost of industry production. After the 9/11 event, demand destruction in the Western Economies was some 10% within 2 months and commodity prices fell, in most cases, below 90% of all producers cash costs. Since the third quarter of this year estimates of demand destruction are between 15-30% in the Western Economies. Supply in most cases has not yet adjusted anywhere near enough to rebalance this reduced demand. Expect inventories of raw metals to rise rapidly in the first half of 2009 and prices to fall another 25-50% forcing producers to take more decisive action to reduce supply. Comparisons with the Great Depression make interesting headlines but are highly misleading.

Bradford MillsChief Executive OfficerMANDALAY RESOURCES CORPORATION

BHP/RIO Deal Collapse Should Be No Surprise.

December 1, 2008

Analysis of:ASIA-Death of a Megadeal: BHP Ends Its Pursuit of Rio | online.wsj.com

The BHP/Rio deal was always a long shot. Antitrust issues were formidable and the success of the deal was always going to be hugely dependant of regulator demanded asset sales requirements. Given the collapse in asset values in the last three months, any value for synergies would have been overwhelmed by the prospect of low realizations on assets sales over the next two years. Other factors were undoubtedly the proposed list of asset sales from the EU which apparently had a lot more Iron ore on it that BHP hoped. Finally, Rio's large debt and unfunded pension position look decidedly more risky in the current commodity price environment. The bottom line is that a difficult deal in good times became impossible in difficult times and BHPB rightly pulled the plug. Investors should be concerned that BHP ever pursued this as a hostile transaction given the enormous complexity and regulatory risks of the proposed transaction.

Bradford MillsChief Executive OfficerMANDALAY RESOURCES CORPORATION

Consolidation will Shorten Industry Price Cycle in Mining.

November 18, 2008

Analysis of:Freeport-McMoran Copper & Gold Inc. Announces Molybdenum Production Curtailment and Plans to Defer Restart of Climax Molybdenum Mine | www.fcx.com

     The recent announcement that FCX is significantly reducing molybdenum production is a rapid response to the recent price declines in Mo. This indicates that things are very different in the mining world than in past cycles. Historically companies have held on to production in down cycles for long periods with the hope that other producers would curtail production first. This became a war of attrition and often prolonged down cycles as large inventories of metals were built up that had to be worked off before prices responded. Consolidation in the mining industry has changed the production response behavior significantly with major producers rapidly curtailing production to rebalance supply and demand before massive inventories build up. In addition to FCX's move, Xstrata (XTA.L) and Norilsk (OTC:NILSY) have curtailed nickel production. Rio Tinto (RIO.L) and Fortescue Metals (ASX:FMG) have announced iron ore curtailments. Expect copper cuts soon.

Bradford MillsChief Executive OfficerMANDALAY RESOURCES CORPORATION

Time duration of commodity down cycle will determine junior's fate.

November 10, 2008

Analysis of:"Darwinian culling" in junior mining sector | network.nationalpost.com

The duration of the cycle will determine the fate of most juniors. Sector differences matter - Base Metals (Cu, Ni, Zn) look particularly week and will get weeker. PGM's and U are at the bottom and should start to trend up. Gold looks reasonable and gold juniors should find financing. I expect a early 1970's style 2 year peak to peak cycle not a 1980's 5 year cycle. If the down cycle lasts longer than 18 months expect junior failures to accelerate.  Private equity is starting to play a role, expect it to prop up better companies (Pallinghurst Resource - GEM.L)

Jack LiftonCo-founder and DirectorTechnology Metals Research, LLC

No Amount Of Taxpayer Hand-Outs Can Solve The Problems Of GM and Chrysler: Myopic Management. The Treasury Should Seize Control Not Cede It.

November 10, 2008

Analysis of:Automakers struggle to survive past mistakes | www.forbes.com

Three years ago a former Chairman of an American OEM automotive company told me  that the problem with GM, Ford, and Chrysler was that they all believed originally that the Japanese would never learn how to make cars that Americans would buy, and, then, after that turned out to be false they simply decided that there was nothing to be learned from the Japanese who must have been successful, they thought, simply by emulating them. These men, and they were and are all men, are myopic and incompetent. It is their fault as much as the fault of the monopolistic union that the domestic American OEM car companies and their supply base have failed. Let's please get rid of them immediately.

Jack LiftonCo-founder and DirectorTechnology Metals Research, LLC

General Motors, Thank Goodness, Is Not The Backbone Of American Manufacturing; It Is More Of A Still Curable Cancer.

November 10, 2008

Analysis of:Auto-Industry Crisis Tests Obama | online.wsj.com

The backbone of American manufacturing is made up of profitable, high-productivity companies in a variety of industries, which create or find a way to manufacture the latest and most relevant technologies for our health, safety, workplace productivity, or leisure. The backbone consists also of those companies whose workers income is directly related to their productivity and directly related to their employer's ability to mass produce innovative and important products. The backbone consists only of those companies that can give their workers benefits such as health care and pensions while the employer still makes a profit.   Those companies that create wealth are the backbone of American industry not those that destroy wealth.

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