Good afternoon
German Factory Orders as well as Investor Confidence weaker again...political uncertainty is clearly having an impact now...Thank you, Mr.President!
London is closed today, and equities are continuing their recent run!
Breaker Resources - is trying to stem the tide with some good drilling results. Stock was up on very high turnover today, following som extensionla drilling results - the ebst being 12m with 6.78g and 12m with 4.3 g. The stock has lost a lot of steam, and the market had lost confidence somewhat. But a few good drill-holes at a market cap of 39 mill A$ are certainly a different thing than at 80 mill$. It will be a long way back - confidence is a difficult thing to get back - but below 30ct, the stock might be good vallue. No hurry, though...
Beadell - they are really in turnmoil....after having received a credit line from Sprott recently, they closed it again ( I would not want to know, what the exercise has cost them...)...and replaced it with equity. I can only guess, that large shareholders have not been peticular happy with the terms....Anyway - company now raised about 11 Mill US$ in convertible debt, and another 14 mill A$ or so in equity at 8.3ct with attached 3 for 4 warrants, exercisable at 0,0815$ for 4 years!! Well - these terms are pretty harsh as well....and teh fact that the company placed convertibles as well as equities tells me, that it has not been an easy task to find buyers. Still, at these levels, I am starting to get very tempted.........in the end, everything has got it´s price.....But at this stage, I am still out....
Metro Mining - slightly delayed, the company shipped the first 62.000t delivery to China today! The company has had some commissioning issues, because of wet weather and some hyraulical problems of their trucks. Over the last few days, bauxite at a rate of 7.000t were loaded on a ship, while the 10.000tpd target is planned to be achieved by the end of June. Absolutely amazing: There have been three events during the first Quarter, when more than 1m of rain was recorded over a few days!! In Germany, the average rainfall per year is about 70cm!!! Anyway - they will have to start building astockpile over time, as this thing can and will happen often again in their part of the world! Anyway -all aspects are working, and from here, the mine should be printing cash for them!
Have a nice evening
WS
WS
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