Market Update

General - Evolution - Genex

Good afternoon

We would like to invite you to our yearly Australian Resources Conference in Zurich, 24th of February, Hotel Baur au Lac. As always, the attending companies are inviting all interested investors and other interested followers. Please pass on the information to your colleagues as well! 

Please register by clicking this link:

Australian Resources Investment Conference

This year, following companies will attend:

Evolution Mining / Perseus Mining / Panoramic Resources / Prairie Mining / Genex Power / Graphex Mining / Breaker Resources / Peak Resources / Finders Resources / Energia Minerals


Market Update

I am sick and tired to talk about this terrible stories out every day! Not much happening in terms of micro-news, unfortunately...

Chinese trade figures have been excellent - exports strong, imports as well - steel exports down, indicating strong domestic demand. Iron is making new, recent highs today at around 86 US$/t - incredible - and steel rebar has been strong as well. The very high iron ore price for some time now cannot just be explained by Chinese speculators buying it...I guess the recent explanation, that electric arc furnaces are closing down because of high emissions ( they are  using steel scrap, not iron ore ) and hence, more iron ore being  neededfor the same total amount of steel production, would make sense to me. In any case, it´s amazing to see iron ore trading so high for so long and making idiots of ALL analysts! I fear, that Australian mining companies have to get used to an Australian $ between 75-and 80 ct to the US$!

Ecuador is still THE country for copper-and gold exploration in the moment....Solgold continues to march ahead in London, and Lumina Gold Corp in Canada has also been an impressive performer!

Freeport has received a special mining license for Grasberg, leading to some profit-taking during the day in copper. But it´s still up by 1%, as I am writing, alongside an even stronegr performance by all base metals today. They are also profiting from the Chinese numbers, and a phone call between Xi and Trump, which seems to have been pretty cordial.

Gold is holding it´s ground, following the relatively sharp sell-off late yesterday. ETF-inflows in Germany as well as in the States are continuing - I think this little dive might have been a short one.

Evolution yesterday got approval for an extension of the Cowal Mine, which is it´s most important one, to mine it until 2032. Good news, although this has been expected.

New South Wales as well as South Australia re experiencing a massive heatwave in the moment, leading to potential blackouts over the weekend. Malcom Turnbull, the Australian PM, has again called for more gas- and hydro-pump energy generation. My little baby Genex Power are only expecting a government grant for their large project by year end...I would not be surprised, if this would happen materially earlier than this. The stock is depressed because of this terrible, second placement /1:14 rights issue - but nothing is fundamentally wrong here. This stock is dirt cheap....and as you know, technological risk is just about zero. To my knowledge, GNX´s project is the only one currently on the drawing board!

Have a nice weekend!


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