Good afternoon
Factory orders in germany weaker than expected - even though up my more than 8% vs Jan 2017. Still, we have had a few, weaker tha expected economic numbers from germany recently. Also some talk, that companies are scrambling with high capacity utilisation, and a shortage of skilled workers - holding back growth.
China´s trade numbers were very strong. Normally, I would say: great! But in the current enviroment, probably rather a negative and ammunition to Trump´s ideas.
Germany will definitely get a new foreign minister - that´s a pity, as the old one was pretty reasonable, and the last thing we need, is a greenhorn being confronted with the current turmoil in the world.
Looks a bit like financial markets have singled out the metals as potentially being the most negatively affected by a trade war. To be honest - I have no idea...the last trade war happenend way before I was born, I think! But limitations to trade should certainly affect world growth, which in turn would have to be negative for metals. In any case - I believe, that Trump wants to feel great, ( especially, as he has to compensate trouble with Melania !!! ( joke,...) ), and most of his electorate will be stupide enough to believe, that a steel/alu tariff will be tremendous news. That might do him...if he continues with more tariffs, we will have a big problem, indeed! In any case, equities should be driven up or down by the same reasons as metals, at least in the moment - so something has to give here!
Highfield - hard to believe, but the two missing reports from relevant authorities have only now being received, and the issues being raised in them, are in the process of being answered by the company. I was under the impression, that this sort of backward-and forwards had been finished before Christmas! I start to loose faith here...I have been extremely patient , but am starting to ask myself, whether Spain is really that bad, or whether the process has been badly handled....You can read my tendency between the lines!
Cobalt 27 - the Pala-created cobalt-vehicle has increased their placement from 130 to 185 mill $...good effort in this market and shows the substantial interest. In the meantime, cobalt is making new highs at 38 US$/lb...
Apollo Minerals - the company has aquired the 20% of the Couflens gold/tungsten project in France, which they did not own. Only small, actual outlay - more to be paid on progress to develope this asset. Down payment now + payment in 4 month is only 550.000 A$ - potentially, another 3 Mill A$ in different stages over later years, depending on progress. Not a major deal, but very positive - always much better to own 100% than having to talk to a french partner forever!
have a nice evening
WS