Good afternoon
following from a strong start, equity markets are about unchanged today.
Base metals are stronger, especially zinc, but also copper, as the complex is aided by a weaker US$, but also a good set of numbers from China. Lundin is preparing the suspension of a relatively sizeable copper mine in Chile. Overall, the current new round oof demonstrations might be setting the tone for difficult wage negotiations generally. Even though below recent, bullish expectations, the Chinese economy managed to grow by 4,9% YoY in the 3rd Quarter. Retail strong at +3,3% / Industrial Production at 6,9% - while Fixed Asset Investment was the laggard with just 0,8%.
Resolute - surprise resignation by long term MD John Welbourne, who I believe has lost trust of his shareholders. The CFO becomes interim CEO. It will be interesting to see the forthcoming Quarterly - while the departure is good news, I am a bit concerned over near term news.
Panoramic - company is making good progress on development of the ventilation, and the contractor, Barminc, is now working full time on mine development. The A$-nickel price is continuing to run, as metal analysts around the wrld are becoming more postive n the metal. A bit surprising to me, that the stock was down today, when it probably should have been up!
Have a nice evening!
WS
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