Good afternoon
I know it´s getting boring…but everybody is fearful of missing this spectacular run in equities! I can only imagine, that many fundmanagers, as well as wealthy people, are sitting on their larger than normal cash holdings and wait for the famous second leg…and wait and wait and wait…..and obviously, some are jumping in! The laggards are running - banks, cyclicals - while internet-based stocks are seeing some profit-taking.
Europe is proposing more fiscal stimulus. It seems that nobody really cares about these multi-billion numbers - the printing machine is runiing hot, and no doubt, is also feeding equity markets! And eventually, inflation??
Metals are weaker today, by anout 2%, To be honest, I find that surprising , looking at equities and the positive mood there for steel, cars, consumer-related stocks etc…
Gold is fighting to keep it´s head above 1700 US$!
Bellevue Gold - the company announced many excellent results from infill drilling, in preparation for the nrst resource update, which will include the first indicated resources: At the Deacon Lode, 5,3m with 54g gold / 1,5m with 168g / 2,5m with 49g / 3.3m with 22,5 g were the best results….from the Bellevue Lode: 1,5m with 89g / 5.6m with 7,5 g / 2.4m with 14g and 0,3m with 1169 g ….from the Tribune Lode a best result of 2,9m with 36g, and finally from the Viago Lode: 2m with 64g / 1.2m with 38g / 0,4m with 81g. These excellent results augur well for the first indicated resource. I am hoping for 500.000 oz as a first, indicated resource. The dewatering of the old underground mine is making good progress - initial ground conditions are still good. Drilling from undergound will be a lot easier and cheaper, and will accelerate conversion from inferred to indicated resources from late in the 3rd Quarter onwards. Excellent news - I can only repeat myself: I will be surprised, if Bellevue will have to bring this thing into production themselves. Say 300.000t p.a. from underground at more than 10g/t will be very juicy feed for any of the existing plants in the vicinity!
Have a nice evening
WS