as I have been in London for 2 days, I did not report on the PMI´s, which have been publisched over the last few days, which were all very positive. One thing is for sure: Manufacturing and Industrial Production around the world are doing very well! Being the most metal-sensitive parts of the economy, this is very important, and very positive. The only negative: How much better can it get? Even slightly lower activity would certainly eat into stock piles, and is met by largely stagnant production, as few new projects of size are coming on stream!
Today, Factory Orders and Durable Gods have been very strong.
The massive interest in battery metals is continuing, with most of these stocks roaring ahead, while early shareholders are selling to institutional guys, who must not miss this hype. Looking at valuations across the sector, they are still rather on the cheap side, looking out 2-3 years. The main problem for valuations is, that none of us knows, 1 - just how strongly demand will grow - and 2.- there are very few experts on these minerals / metals, and even they might have very doubtful price forecasts. But for now, I think the wave will continue to be with us!
Mr. Tillerson apparently calls his boss a moron! Nice one! But I think he is much worse than that!
Trump wipes out Puerto Rico-debt...??? Again, Nero Part II...let´s wait for the day he requires Angie Merkel to stay over night...
Copper strong +2,7%, nickel slightly better, and some profit-taking in zinc + lead, which are trading at multi-year highs.
Breaker - strong move today following the announcement of very positive, metallurgical results. Testing is not finished, but I think it can take for granted, that recoveries for oxide- as well as fresh ore will be very good. Test results gave 95% recovery for both. This is another important step to de-risk the project. The next step will be more drilling results, and especially the first resource estimate by Christmas.
Finders - had some stunning drilling results from the satellite deposit Lerokis. Best result was 22m with 13,3% copper + gold etc...others were not as spectacular, but still excellent like 22m with 5.6%; 25m with 7% etc pp.Unfortunately, they sound like a lot of tonnes, but they are not! The Lerokis orebody is pretty small, and whilst these results are certainly positive, we only talk of Lerokis delivering 6 month of additional feed or so. Nevertheless, an additional 6 month are worth approx 2ct to Finders share price.
Have a nice evening
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