corporate activity in the gold space continues with speed: Newcrest buying into Greatland Gold´s property in the Paterson province, where RIO have had their recent exploration success. 5 Mill US within 12 month in exploration spend, 65 Mill US over 6 years to get 70%. Following Solgold, Imperial yesterday, and Greatland today, the third potentially large project they invest in - especially the first two might require major capex down the track.
Newmont/Barrick claim an annual 500 mill US$ pre-tax synergies from merging their Nevada assets…big number…let´s wait and see what will actually transpire in hard facts down the track! The number sounds very big…
Don´t ask me, why metals are that strong today…perhaps it´s a culmination of things…the major producers continue to make noise about “earnings rather than growth”, interest rates looking like staying very low for longer, and also the shortage or larger projects coming on stream over the next few years…in any case, up is good! Zinc is the strongest today - up about 3.5%, followed by nickel + 2.5% and copper, up by 1.5%. Also Palladium/Platinum recovering strongly from recent profit-taking,
VW increased it´s targets for EV´s - they want to sell 22 mill EVs in the next 10 years, which represents an increase vs previous target of only 15 mill cars! They say thmeselves: The supertanker is gaining pace! The company is spending 44 bill Euros through to 2023 on electric cars…
I fear not much else worth talking about>!
have a nice evening
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