Good afternoon
no major move in markets…no major macro-news, either . Reporting period in the States was ok so far - the heavyweights are still to come.
Lots of copper mines in Chile disrupted by warning strikes…it remains to be seen, how the situation in Chile developes.
Nickel had a very strong move up late yesterday, and saw some profit-taking early today. Later in the day, it moved higher again - also driven by another 3500t of withdrawals from the LME.
Gold is looking quite good today.
Bellevue Gold - not too much of interest in their Quarterly today…3 rigs are on infill-drilling, 3 rigs on extension-drilling…and if anything, more forecast for the current Quarter! Strong intersections had already been reported during the Quarter. The next big trigegr will be the resource estimate, out late this year - including important conversion from inferred- to indicated resources ( that´s what potential buyers will look at ?! Infill drilling has been hitting the right structures so far, in places where the company expected them - augurs well for strong conversion. I am sure, that we will see more updates during the Quarter on exploration success. Like all gold stocks, the stock feels like being in no-mans land in the moment…
Panoramic - new CEO has been appointed! His name is Victor Rajasooriar . Most recently, he has been MD of Echo Resources, a gold developer, which is currently being taken over by Northern Star. More importantly, he has been COO of Barminco previously, which is a large underground mining contractor. Underground experience is obviously, what is needed most - beside of developing scenarios for Horizon Gold and the PGM assets of PAN ( by the way, combined price of Plat + Pall is still at alltime high of 399 A$/oz ). His reputation in Perth seems to be positive. Peter said, that he would only leave a company in good order - so I assume, that development of Savannah North is going as planned!
Not that much to report today!
have a nice evening!
WS