Good afternoon
One thing we can be assured of: Trump will continue to to be in the limelight! Whether his generals & billionares will concur whith what he is publicly stating, might be a very different question!! It will be an interesting excercise to see, who of his closest allies will still be in his team in 12 month time, if he continues in recent style....
I can only reiterate: One should have a bit of gold for the next while at least!
In the absence of meaningful economic news today, base metals are seeing some profit-taking, while iron ore ( new recent high! )and steel rebar continued their record run in China this morning.
Regis Resources - have started the Quarterly Reporting season with a good report. Production of 80.000 oz in the Quarter at AISC of 954 A$ have been in line with positive expectations, and exploration continues to deliver for them. The cost figure does not include some pre-stripping, as well as headoffice and exploration - and certainly not tax. Overall, the company generated just short of 30 mill$ additional cash - a good outcome, even though not as positive as 954 A$ AISC would have you expect. In a normal Quarter ( last Quarter inlcuded 13 mill$ in tax ), RRL should be able to generate something like 38 Mill A$ in free cash. That makes Regis a solid investment, but not crazily cheap. It will be interesting to see, whether Australian producers in general will be able to hold their costs - the oil price is up, and salaries are not falling anymore. So anyone reporting stable costs,. has probably done a good job!
Not much to report today!
have a nice evening
WS