Good afternoon
The US$ is very strong today..not really sure about the reason. That is putting pressure on gold, which briefly dived below 1300 ( now at 1302 ) and base metals, which opened the day stronger, but are generally weaker now.
Home prices in US-cities are strong, but Consumer Confidence cools a bit, I guess no wonder, given the hurricanes recently.
Markets are sometimes crazy...Novo Resources, Canadian-listed, but with all relevant activities in Australia´s Pilbara, are continuing to go through the roof...market cap close to 1 bill Can$, based on a gold find in the Pilbara. Very nuggety deposit, which is a bad word for gold miners - hence they call it "conglomerates". I would be very cautious...Anyone with assets not too far away started moving as well. I am not in, which is a pity - but I am not contemplating to get into it, either!
Berkeley Energia - became the first mining company to my knowledge, which sponsors a soccer team! Sounds very odd - but in highly political Spain, I think they are doing the right thing, and while I do not know, how much tehy are paying for it, I am sure, that we talk 100.000 Euro´s at worst. The two traditional teams of the village went bust, and BKY are now the saviour of football in that little town! I am sure, that this will raise the sympathy level with local people even further. As you know, the mine is now fully financed, and all systems are go - except for the uranium price. For now, I have almost given up on the uranium price, I have to admit. Great project, and probably the best in the Western World - but for now, I will only watch, what´s happening in the uranium market.
Evolution - sorry to push them again! But I just looked at their presentation at the Denver Gold Show, and thought, how impressive EVN´s achievements have been over the last five years. From a small, obscure start-up, they have become a true leader in Australia, and a very cheap producer with 9 years mine life today. Today, Jake is paying the price , though, for being conservative: By running a gold miner, which is designed to make money across the cycle, and by only doing vcalue-add aquisitions, he is a little bit short of growth in the moment. On the other side, a very reasonable dividend does make waiting easier!