Market Update

General - St Barbara

Good afternoon

as I am writing early afternoon, copper is approaching 6.000 US$ again, trading up 2% from yesterday - nickel and zinc are even stronger. It feels like the consolidation is over?! Iron ore and Steel Rebar are also recovering.- and coking coal/thermal coal are strong anyway. 

Strong ADP jobs-data in the States today, while sentiment in teh services industry is cooling somewhat.

But strong metals & equities are just too much good news for gold to go through resistance - and it´s reacting down instead, to take another breather!

St Barbara - another incredible Quarter...eraly version of Quarterly out today, and it look as if tehy produced yet anotehr Quarter with very strong cash flow, close to 70 Mio A$. Macquarie calculates, that SBM will be egnerating 450 mill$ in free cash over the next 2 years, at 1255 US$ for gold and 76ct currency. The company has already expressed, that they are on the lookout for aquisitions, as are several others. You can just feel the need for them to do something, especially, as the Solomon Island mine Simberi has very limited mine life! I would be very surprised, if they would catapult the dividend - even though this is what they should be doing, in my opinion! Both mines produced very well in the Quarter. More detail, once the Quarterly is out.

And I fear not much more to report!

Have a nice evening