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Glencore sinks NGEx Resources (

The 12 month chart of NGEx Resources ( is all the proof you need that just by having Lukas Lundin as part of a team doesn't automatically guarantee success (that's a sight aside message for those of you currrently being romanced by the Ecuador gold dead certain slam dunk what could possibly go wrong).

This week it's back under a Loonie and that's because Glencore has decided that its very big Pachon copper project on the Argentine-Chile border isn't going to be a bi-national project, but 100% Argentina-sourced. And that's because Glencore isn't stupid, has watched the FUBAR created at Pascua Lama and is not going to complicate its life in the same way as Barrick. Which points precisely and directly at the major weakness of, which continues to lump its Chile-side projects and its Argentina-side projects into one big package. 

The sooner realizes that it's ruining a decent project through a large strategic error, the better for everyone.