Calls
4
George Cheveley
Portfolio Manager, Ninety One
Win Rate
100.0%
return
+11.3%
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Ticker
Side
Mentions
First Call
Call Price
P&L
Thesis
Theme
Source
Long
Aug 07
$86.09
+4.6%
Copper is at record highs driven partly by a technical squeeze from potential US tariffs on refined copper pulling stocks from Shanghai and LME, but strong AI demand, supply disruptions, and DRC banning copper concentrate exports add excitement. Over the long term, fundamentals will win out and keep copper well supported.
Commodities
Long
Aug 07
$389.67
+3.2%
Central bank gold buying in Q2 was the largest ever for a Q2, confirming a floor around $4000/oz and giving confidence that gold and gold equities represent great value here.
Commodities
Long
Aug 07
$58.16
+11.9%
Once geopolitical uncertainty resolves, oil prices need to stay higher than before for stockpiling. Energy equities are pricing in oil around $10/barrel lower than the $75-$80 that will persist for the next four to five years due to restocking needs, making them undervalued.
Thematic ETFs
Long
Feb 18
$74.53
+25.3%
BHP reported strong results driven by copper and precious metals byproducts. They sold a silver stream on a Peruvian mine for $4.3B upfront. Miners are monetizing non-core assets (silver streams) to build cash piles. BHP's net debt is well below target, positioning them for acquisitions or massive shareholder returns. High-quality balance sheet play in the materials sector. Global recession dampening commodity demand.
BHP reported strong results driven by copper and precious metals byproducts. They sold a silver stream on a Peruvian mine for $4.3B upfront. Miners are monetizing non-core assets (silver streams) to build cash piles. BHP's net debt is well below target, positioning them for acquisitions or massive shareholder returns. High-quality balance sheet play in the materials sector. Global recession dampening commodity demand.
Metals & Mining
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George Cheveley has 4 trade ideas tracked on Buzzberg across 4 tickers since February 2026. Most covered: COPPER, XLE, GOLD.
