Good afternoon
a meeting in 1960 between Nikita Khrushchev and the heads of NATO must have felt a bit like yesterday´s meeting between Trump and them - rude, unfriendly, opposing. There was no relationship-building - rather open attack. I am not sure whetehr we really need the NATOanymore, which has been built in the cold war, and has members likes Turkey in it - but this was not a meeting between friends, that´s for sure!!! I might be overdoing it a bit, because i just cannot stand the guy - but even UK-US relations are strained, and that´s highly unusual! Looks like the Saudi´s are his best friends these days!
Metals looking ok - gold is steadily moving higher - highest price since 1st of May, and back to 1700 A$/oz. Nikita Trump might be responsible for this?
Lucapa Diamonds - announce interim funding for the aquisition/advancement of their second diamond asset, Mothae in Lesotho. It sounds like a promising asset, with an established resource, and trial mining in the past, which discovered a 254 ct diamond. The existing options, exercisable at 20ct, have been underwritten, which will raise pprox 9,2 mill A$ ( fees of 6% - not cheap, but usual terms ). The underwriter will also receive 11.6 mill options, exercisable at 35ct and running for a year from issuance in Sept 2017. This is pretty expensive financing, in my opinion! I am not questioning the aquisition, but the cost of financing it. The relatively large numbers of options / their exercise have helped to depress the share price for some time - now we get anotehr set of options! At least I would have hoped for a respectable broker to underwrite this, which would guarantee some research and market support!
Not much else happening today!
have a nice evening
WS