Good afternoon
I fear all readers bar one have to concentrate on the market again, as we have all lost it in the World Championship! Good luck to him!
Following strong numbers for Industrial Production and Factory orders, German exports also increased by more than expected in May.
The English Brexit-Minister Davis, a hardliner, resigns.
Equities as well as metals rebounding today - Trump did not Tweet anything on the weekend! Probably spending some time with Melania! Gold also strong - the compelx is being helped by a weaker US$
Merrill Lynch don´t like Cobalt and Lithium, expecting a slower than expected ramp up of EV-production over the next few years.
Wood Mackenzie, on the other hand, are expecting a nickel price of 28.700$/t in 2022! That´s equivalent to about 16.50 A$/lb and would see my darling Panoramic generate approximately 270 Mill A$/year!
Apollo Minerals - are making some progress at their French tungsten-gold mine, Couflens. Safety and Health risk-assessments have been completed. Ground conditions are axcellent, and the wide drives are in good condition. Poer line is only 1 km away, and water access has also been secured. One venitaltion fan will now be established to enable French authorities to let AON start with drilling. Nothing is quick in mining -lets hope, that the drilling approval does not take too much time. As everybody goes on holidays in France in August - and in the meantime, they might win the soccer championship! - I think it might take until some time in September.
Independence Group - not exactly sure how many disappointments we have sen from them - but many! Production during the last Quarter fell short for Tropicana ( gold ), as well as the all-important Nova Nickel Mine. The stock has been doing relatively well, because of the rare nickel exposure - but this is just the only , positive thing I can say about them. For Panoramic ( not in production again as yet ) to trade at similar multiples, the stock would have to go up by more than 100% .
Dacian - went some way today to justify their market cap, by announcing some excellent drilling results from Cameron Well, A drill hole showed 99m at 3.1g gold and ended at 158 m in mineralisation. Another one hit 49m with 2.6g. This is certainly the stuff needed to increase mine life of their operation, which had started production a few month ago and is ramping up to full production now and over the next few month.
Have a nice week!
WS
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