pretty exciting conference in Munich over the weekend…Merkel with a very good speach, and Pence got greeted with icecold silence. European/US-relationship caannot get any worse! In trying to understand Trump, I am pretty sure, that he will impose tariffs on German cars…he will want to show Merkel, who the boss is!
Also interesting news today from so far unpublished comments, that Trump believes Putin more than his own agencies! Also ineresting, that the import of German cars poses a security threat to the US!! ??????? Similar to calling a state of emergency relating to the US Southern boarder - these guys bend the truth wherever it suits their agenda! Unbeievable, that Pence links Iranian politics to the holocaust…Crazy weekend!
But luckily, hopes for strong progress in the trade negotiations with China are succeding today
New all time high for palladium at 1455 US$, following bullish comments from several sources last week. At the same time, platinum is also a few$ stronger. The combined price is trading at around all time highs of 3200 A$/oz in A$ terms. You wonder, when one will see first reports about Panoramic´s two projects…especially Panton, containing 1.1 mill oz of Palladium and 1 mill oz of platinum - to my knowledge, the largest resource in Australia by far with a comined grade of 4.6g/t PGM´s. I know, that I have mentioned it before - but if you apply the same valuation of say Breaker´s gold resource per oz, it would be worth 115 mill A$ or 23/ct share. This is pretty hypothetical - no bankable feasibility study has been done in recent times - but you would think that develoment becomes a real possibility?? The world is screaming for more palladium, that´s for sure! In the moment, Panoramic does not have millions to pure into the project. But perhaps somebody else has? I am sure that Peter can talk about the project at our reseources conference this Friday.
Lefroy Exploration - the companies JV with Goldfields, where GFI are spending 25 mill over 6 years to gain 70% of the project, is now in full swing. GFI have to spend 4 mill$ before June 2020 to adhere to the JV-agreement and keep their options open The company is spending a total of 75 mill $ in total in the wider area , and commented very positively at their presentation. a major exploration program on the JV-ground commenced the other day, which will take 4 month to complete. As GFI is paying for the exploration, LEX can stay mean and lean - but at some stage in the summer, will need more equity. I have mentioned them before - a very interesting play to watch and perhaps to accumulate a bit of stock, as it is very tightly held ( Goldfields owns 18% ).
The US and Canada were closed today
Have a nice evening
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