Good afternoon
Now the POM´s are getting their fat from Trump: May has done a terrible job, and Boris would be a good Premier! This guy is getting worse by the day! Lt´s hope that the Queen will give him a real bullocking this afternoon, over a cup of tea! ( I actually would not be surprised, if she did! Perhaps Phillip should attend as well! ). Sorry I can´t help my self - but this guy is coming up with new atrocities just about every day
With a president like this - how can gold trade at 1242??
China exports slightly weaker - even though they were growing to the US - while imports were weak , indicating, that the Chinese economy might be slowing down? Bond markets in Europe are very strong indeed today, equities are up, and base emtals are down...
Sales of EV´s spiralled by 71% in the first half - but June already showing weaker growth, as subisidies for cars with small range in China finished on 12th of June. Subsidies on larger cars with longer range are actually rising ( needing also larger batteries ) . Second half growth might be closer to 30% ; Macquarie believes.
Panoramic - suspended pending an announcement on debt financing for Savannah!! Stock coming back on Monday and Tuesday - I guess the announcement will also include statement re starting up Savannah again!
Resolute - yet with another announcement , this time on credit line and Bibiani. They got a 100 Mill US$corporate credit line form Investec ....good news...and the updated feasibility study for Bibiani in Ghana looks good. For the first time, this project looks like a certain goer...100.000oz for 10 years at 700-800 US$ AISC for life of the mine, pre-production capital has risen to 115 mill A$ from 95 mill A$. The go-ahead will only be given, once the sub-level cave operation at Syama is up and running - makes sense for me, to not have too much risk at the same time. Good announcement, once again!
Perseus - full Quarterly out.Record production of 83.800 oz at 913 US$ AISC - 147.000 oz for the half year. 33 Mill US$ of free cash generated. Guidance for the current half of 130-150.000 oz at 950-1150 US$ AISC. Excellent Quarter at Edikan, and also at Sissingue ( 520 US$ AISC and a very nice cash generator! ), which positively reconciliation vs feasibility study of -1% in grade, but +9% in contained gold! Remains to be seen, whether this positive news can be extrapolated to the sulphide ore...next two Quarters will tell!
The company strongly hinted at being able to bring Yaoure into production without any further equity. He mentioned the 57 mill A$ in oustanding options...I still guess, that without this money, it will be very tight! But financing should be fixed this calendar year, which sounds promising!
I have no idea, why the stock is down - this was an excellent Quarter! The stock had not reacted so far to the lower gold price - perhaps the good Quarterly became a liquidity event!
Have a nice weekend!
WS
Schröder Equities GmbH
Seitzstr.7a
80538 München
Tel. +49-89-4613440-0
Fax +49-89-4613440-10
email: wschroeder@schroeder-equities.com
website: www.schroeder-equities.com
eingetragen im HR München, HRB 166985
Geschäftsführer: Wilhelm Schröder
The information contained in this communication is confidential and is intended only for the use of the addressee. Unauthorised use, disclosure or copying is strictly prohibited. If you have received this communication in error, please delete it and notify us by telephone at +49-89-4613440-0, by fax at +49-89-4613440-10 or by e-mail at wschroeder@schroeder-equities.com immediately. Please note that this communication does not constitute and may not be construed as investment advice and / or referral to buy or sell financial instruments. Unless specified otherwise, the views expressed in this communication are solely subjective notions of the individual sender and / or the entity or individual stated as the author of any information submitted. Performance in the past may in no case be considered as an indication for future performance. Please also note that Schröder Equities GmbH and / or its officers or employees may have interests in financial instruments referred to this communication. A current list of shareholdings can be emailed on request. Furthermore, our clients are hereby informed that Schröder Equities GmbH renders advisory services to Nestor Australien Fonds, an investment fund administered by Nestor Investment Management S.A. Luxemburg. Please also note that e-mails can be intercepted by