Market Update

General - Royal-Nickel-craze

Good afternoon

as equities are slowly grinding higher throughout the day, metals are recovering as well.

US consumer confidence is very strong indeed!

Amazingly enough, Barrick and Randgold are moving higher. I think this is crazy - but anyway - it will certainly encourage other miners to do the same.

Just a thought….St Barbara reiterated, that they are continuing to look at aquisitions in Africa and North America, with the latter being the preferred location. My little West African would exactly fit for them - just the right size to better employ SBM`s very lazy balance sheet, and at the same time, big enough to make a very meaningful difference. Also, SBM are extremely proven underground miners!

Oil continuing to move, and Brent is trading solidly above 80 US$…not good for the miners!

Macquarie have adjusted their commodity price forecasts. They are most bullish vs today´s prices on nickel - but also continue to like copper, even though they marginally trimmed their forecasts for the shorther term. Large increase for Alumina going forward - the most bearish they are for Lithium.

Royal Nickel - this unbelievable story continues…stock is now up by 10x, since they found these incredible nuggets in the Beta Hunt Mine in Western Australia. Not bad, considered, that they had actively tried to sell the asset! I have to dig a bit - but the only company except for Goldfields I can see with a substantial ground position in the area is Lefroy Exploration, which is an interesting company in its own right. They were actively exploring in the area, intrigued by the discovery Goldfields had made there about 2 years ago, very close to their existing operation at St.Yves. I have forgotten the numbers - but Goldfields are spending a high double-digit million$ amount their per year on exploration. And now this newest find by their neighbour, RNC….By the end of this week, total number of shares outstanding will have been turned over twice! We will watch this story with interest! But in my opinion, avoid to get sucked into playing this stock…

Have a nice evening


Schröder Equities GmbH


80538 München

Tel. +49-89-4613440-0

Fax +49-89-4613440-10




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 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