Good afternoon
not that much happening in bonds, equities, currencies and metals today. Nickel mover through the 100-day moving average..
Trump has great relationships with just about everybody - certainly Putin, certainly Merkel…I think this believe might be very subjective!!! What a dickhead….
Strike Energy - continuing to drill ahead at about 2500m…all going according to plan. A secondary gas target zone will be drilled through enxt week, but the primary target is still some time and some meters away. Planned total depth is 5200m - I guess that will take 3 weeks or a few days longer. But the moment of truth for West Erregulla is getting closer…let´s keep our fingers crossed!
Resolute - in my eyes, a major announcement today: Underground ramp-up of Syama continues, and is going much better than I would have expected, following the very slow 1st Quarter. The mine is now producing at more than 80% of planned capacity - that sounds very promising. Automatisation of the underground mine is in poarts working already - teh rest is planned to be fixed over the next few month. But no doubt - this is a major de-risking announcement! I think the timing is ok to buy a few more, with limited risk, given the stock is easily worth 1.60 A$, once it allw orks 100%.
Graphex - so far, there has been only one, very small boutique-broker writing research on it - today, Patersons also initiated. Patersons is not Macquarie, but a reasonable, Perth-based brokerage. They value Graphex in a sensible report at 60ct, discounting their expected value of 1.20 A$/share by 50% because of the uncertainties still to be fixed with the Tanzanian government. If you want the report, let me know.
Have a nice weekend!
WS