Canadian Oil Sands is a weak company that has consistently missed many quarterly targets and is focused on one of the least attractive areas of the oil patch at current prices.
Low copper prices have forced the Vancouver-based firm to lay-off more than one-third of the workforce at its Huckleberry mine in northwestern British Columbia.
The precious metal is building on gains from earlier in the week, triggered mainly by escalating geo-political tensions in the Middle East and North Korea’s nuclear test.