Good afternoon
Finally, the massive EU stimulus program has been put into motion last night…and the ECB will buy another 500 Bill Euro´s in bonds…unbelievable..massive…
CPI in Germany at -0,3% YoY - unchanged. Death rate as well as new infections in Germany at a new high - hard lockdown will definitely come, the only question is when - before or just after Christmas. But in any case it looks like busineses will continue - except certainly for entertainement, hospitality, and I guess sporting events, but including schools - but it´s holiday time anyway, soon!
Business Confidence in the States is higher than expected - looks like these guys over there are unfazed by 250.000 new infections every day!
Iron ore is trading at 160 US$/t for 62§% material! Unbelievable - and the first cyclone in the Pilbara is around the corner, reducing Australian supply! BHP/RIO/FMG are making new highs almost on a daily basis - and second liners are also racing. I might sell a few Fortesuce tonight - this is getting a bit hot for me…and making nearly 35% in a month in a large cap is tempting me into some profit-taking.
In light of really bad corona numbers, European equities very pretty weak initially, but recovered, once US markets were only seeing small losses. Disney very strong on a very bullish outlook for it´s streaming business, and it´s market cap increases by a shabby 45 bill US$!. Airbnb continues with it´s unbelievable rise!
Base metals saw some profit taking today, but receovered also from the worst - but surprisingly, nickel held on to it´s very strong gains from yesterday! I just cannot believe, that Panoramic does not move!!!!!!! I am absolutely loaded now in this stock!
Gold is up a few $ - I guess some people are understandably worried about this massive money printing exercise in Europe! This year, gold has performed exactly in line with gold stocks as measured by the GDXJ…that´s certainly a big surprise! Usually, a 20% rise should be followed by a 40% rise in stocks - or even more!
Independence - raised 750 mill A$ or so at a 9,5% discount ( 4,60 A$ ) - only to close at a massive 6,32 A$!!! 50% profit for investors, which took the placement! They are buying indirectly 49% of the Kwninana lithium smelter, and 25% of the fabulous Greenbushes Mine for 1.9 bill $…massive price, but obviously the market likes this blue chip asset and the outlook for EV´s !
Tietto - got the mining license for their 3 mill oz resource in Ivory Coast. The market does not really believe in this asset, and I also believe, that tehy killed the market in their stock with the massive, oversized placement of 60 mill$ a few month ago. Nevertheless - my contacts in Australia are believers in Tietto, and that they have a nice, mineable resource. We will probably only find out ( at least to some degree ) once they publish the PFS some time in the next Quarter. TIE continue to very actively drill, with 4 rigs working on double shift.
Strike/Warrego - long term followers and - holders of Strike will get pretty excited - next week, the West Erregulla well should reach target depth! The aim is to prove up another 0,5TCF of gas, additional to the existing 1.2 trill TCF. This would validate the first resource estimate as well, and indicate very substantial long term interest in further success in the Perth basin - including great potential for LNG and the devlopment of new industries in Western Australia!. Analysts see targets of 50% higher from here initially for Strike, and 100% for Warrego.
have a nice weekend!
WS
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