Market Update

General - Evolution - Prairie Mining

Good afternoon

while Trump is getting famous as the first president, who signed a 100 bill US$ weapons deal with a totalitarian government, which supports terrorists, there are no major economic news out today. Well, we Germans are not that much better in that regard - money rules the world! Trump also to cut Mediaid and poverty-prgrams to finance tax cuts..........Make America great again!! or at least: Make the rich richer again!? That´s what it sounds like to me - but I have to admit, that I am not an expert in these US-bureaucratic programs.

Base metals are edging higher, driven by very strong markets for steel rebar, and iron ore in Asia. Gold has managed to keep the most recent upward trend active, and is trading at 1259 US$/oz currently. The US$ is weaker again.

Prairie Mining - a polish newspaper cited the boss of JSW, the main Polish producer of hard coking coal with a market cap of 3 bill A$, that they would be looking at aquisitions, listed on the Polish market. The newspaper aded, that tehy might be interested in Debiensko, PDZ´s coking coal asset. Given the market cap of PDZ today of 90 mill A$, they might as well buy the whole lot....Prairie has not commented officially on it, which would suggest, that no talks between the companies had taken place so far.

Evolution - potentially, the company will NOT be included in the GDXJ, as expected by many. The company is capped today at 2.96 bill US$, and while it has been announced, that companies with a market cap of up to 3 bill US$ would be included, it does not make any sense to include a company, which very soon might not qualify anymore. EVN would be pretty happy not to be included, as it only increases volatily into the share price, given the daily inflows/outflows into/out of the Index.

Have a nice evening