Good afternoon
Retail Sales in the States have been quite strong last month…
Germany will exit coal by 2038…
US equities are leading the way…up on good company earnings - Europe has been lagging behind, and finished stronger as well..
Base metals are mixed today - pretty volatile day intraday…and gold is feeling pressure from the current goldilocks-enviroment for stocks.
Perseus - a strong Quarterly, a touch bettehr than expected. cash generation is strong, and the best news is a strong hinto from management, that the mine life of Erdikan in Ghana might well be increased substantially, by exploration and by using a 1300 U$ gold price, which looks reasonable. A 3-4 year extension of the ( currently ) relatively short mine life could be pretty bullish for the company. The otehr good news: Yaoure, the new mine development in Ivory Coast,. is well on track for production start-up late this year, and costs are also in line. Credit lines might be sufficient for it - but inluding cash flow, hwich should be strong this year, it looks easily financed. Guidance for the current half is stronger than the last half - based mainly on better grades - so all is good here.
The company is working on a new mine plan..using 1300 US$…and is beefing up exploration surrounding the tewo existing mines, both look like seeing extensions to the mine life. All going well here - worth holding at these levels!
Metro Mining - timing of investments is the most difficult thing! Don´t ask me, why the stock is finally moving now! They should have long ago, and have been very cheap for the last few month. The next stop for the share price apepars to be 20ct, looking at the charts. That would be easily justifyable. Longer term, and once production from the extension is getting closer, I think the stock might well test the old highs.
Not much to report otherwise!
have a nice evening
WS
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