Good afternoon
sorry, when I told you to buy, I meant sell...amazing, that Trump is getting away with this bullshit!
If America has got at least some kind of honor and ethics left in it´s big belly, it will not re-elect this guy. But it seems to be fact, that he is actually gaining in popularity!
Housing numbers in the States - which tend to be volatile - have been very weak indeed.
Citi sees "Copper on Steroids" for the enxt 10 years, amid a shortage of new proejcts.
J.P.Morgan are getting a bit more positive on EV´s...they have revised their assumptions upwards, and expect 1 Millt of copper needed by EV´s in 2025.
West African - announced some very positive drilling results yesterday, extending the high grade underground zone at M1 by another 70m, and possibly finding a new zone. An updated resource for M1 , and results from the scoping study into underground mining at M5, are expected by the end of September.
Evolution - remember, that Phoenix sold part of it´s Castle Hill reserve/resource to Norton Goldfields, before Evolution took them over? Norton never mined that stuff. EVN now bought out the JV-partner, enabling them to access 265.000 oz in reserves ( pit shell based on 1350 A$ gold price ), and about 3x that amount in resources, for roughly 15 mill A$. A good deal for them - Mungari is only 25 km away, and has limited mine life. The deal gives them another 2.5 years or so, plus a lot of room for exploration success. Not big in the overall scheme of things, but a nice , little add-on.
Northern Star - great Quarterly! 184.000 oz for the Quarter - new record - at 982 A$ oz AISC. Both numbers ahead of all expectations, and leading to nice, low double-digit upgrades for coming years. Free cashflow of just above 90 mill$ in the Quarter increased net cash position to 443 Mill A$! Following their excellent success on the exploration front, NST increased the exploration budget to 60 Mill A$ this year. That´s a lot of money for near-mine exploration, and given their track record, it will be money well spent. Drilling companies in WA will like this big number! As you know, I have been cautious for years on NST, which was clearly wrong ( or should I say: It was a misunderstanding? ). The reason for that ahs been the limited mine life vs the full valuation - but they are getting there through exploration, and I have to admit, that I am on the verge of becoming a buyer!
Have a nice evening
WS