Good afternoon
The Reserve Bank of Australia believes, that more stimulus might be needed…that drove the A$ down to test recent lows at just above 0,7 US$! That is firing up the A$ gold price to 2707 A$/oz, and also base metals in A$-terms. Copper, nickel and zinc making new highs ( copper highest since 2011, zinc highest since Nov 2019, nickel also since Nov 2019 - but before that, nickel at 10,23 A$/lb only had higher A$ prices back in 2011!! ). I only say one word, which I am sure you are sick & tired of: Panoramic!!!
Gold is not up - despte a weak US$
Mixed housing numbers in the US today, but there is some hope for a budget deal, again…
New Antitrust action against Google in the US - but equity prices worldwide are trading higher, nevertheless!
Gascoyne - will relist tomorrow, and will probably celebrate to be one of the few miners to ever escape alive from administration! They also annunced sme good exploration results today. Exploration ( = mine life extensions ) will be the best ingredient to push the stock to a succesfull relisting. No doubt, that there will be a lot of doubters around, and stale bulls! Perhaps a good opprtunity to soak up some stock!
Perseus - Quarterly Report out today and better, than the share price would suggest! Edikan was a bit average with 40.000oz at 1240 US$ AISC, but Sissingue had an excellent result with 29.000 oz at only 587 US$/oz AISC, driving operational cash flow of 43 US$ and overall AISC of 940 US$/oz. The company maintained guidance for the half year of 125-139.000 z at 940-1025 US$ AISC. The company only had net debt 0f 2 Mill US$, with Yaoure approaching production in December, and so far, trailing just below budget . Hedging of 310.000 oz at 1481 US$ = 20% of production for next three years remains a drag on profits! At the current 1,30 A$/share, I think PRU are trading a little on the cheap side. This does not apply to many gold producers these days!
Have a nice evening!
WS