Market Update

General - Lynas - Syrah - Antipa - Osino

Good afternoon

since these maniacs in Italy came to government, the 10-year bond has seen a yield increase from 1.8% to 3.35% today - not a bad effort! Italy putting more pressure on the Euro today. The relatively strong PMI for the US yesterday did not help the Euro, either.

Metals started the day weaker, but have recovered throughout the day to be about unchanged now - and as I am finishing this blog, they are all deep green! To be honest - no idea, why!

Lynas - have written an open letter to the Malaysian government, pointing out, that tehy have done everything according to the text book until now, demanding a fair treatment, and asking about details of the parliamantary comission, of which teh comnpany has not heard anything official until now. Could well be, that the stock is cheap now - but I am still a bit too worried about the political side of the story….The past has shown, that not everybody in Malaysia is unemotional about the issue!

Syrah - bad luck comes seldom alone….a fire in parts of their plant has brought operations to a stop, I believe. Nobody injured, but there is clearly some damage. The stock is suspended - I guess until the company can quantify the issues, and especially the time delay. I guess they are very lucky to have completed the recent placement!

Antipa Minerals - more nice results from one of their properties North of Telfer: 45 m with 0,56% copper and some gold/silvr; 10m with 2,05% copper and 4m with 3% copper + always some gold/silver. Strike length defined so far of 150m but open in all directions…AZY have had numerous good results from their various properties in the area…there definitely is something…but the various finds are not yet sufficiently defined. As at 30th of June, AZY had 8 mill$ in cash - but the Sept-Quarter should have seen outflow of 3,3 mill$. So next raising is probably less than 4 month away…These guys are in potential elephant country - that´s why RIO has this very large JV with them - so I would not worry too much about this. The next set of good results should bring them closer to 40 mill$ market cap, I hope.

Osino Resources - my little Canadian spec-investment is making good progress. They are currently establishing highly prospective gold targets which have many similarities with the nearby Otjikoto Mine of B2Gold. OSI have a lot of early-stage work on their hands - that´s definitely a disadvantage. But some smart money is seeing the opportunites - Ross Beaty bought 20% of the company, and I believe quite a few investors are watching the stock with interests. The ground position around the two existing gold mines in Namibia is second to none. I declare my personal interest once again…I am related to the MD. I am in the stock above 40ct…so some way to go for me to be in the money! I hope and believe that Ross Beaty can live up to his past investment performance!

Have a nice evening!



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