Top-News of the week:
Several companies with top-class drill results!
Within the past few days, several companies announced partially phenomenal drill results.
Mainly Agnico Eagle Mines, which showed sizeable intersections encountering high grades, including 32m grading 8.8g/t Au from its development project Amaruq. Therewith Amaruq may be a possibility as a satellite operation to its nearby Meadowbank Mine that only has a few years of mine life left.
Nevsun Resources announced a 30.8m intersection that came with an average grade of 1.97% Cu, 9.13% Zn, 0.36g/t Au and 32g/t Ag. The fact that this intersection came from an area which hasn’t been mined, yet, nourishes the confidence that Bisha’s mine life could be extended in excess of the current mine life of nine years.
In the same way, Premier Gold Mines has been able to deliver some great drill results in the last few days. At the Hasaga gold project, which lies in the world’s famous Red Lake District, near Goldcorp’s correspondent Red Lake Mine, Premier showed some significant hits from the shallowest drill intercepts to date. The most recent highlight was a 117m intersection grading 1.18g/t Au. This result and also former ones confirm the company’s expectation that Hasaga could host a top-class gold deposit.
Agnico-Eagle: Interview Sean Boyd CEO AEM
Market Watch:
Silver: Does the air get thinner?
The silver price continued to raise in the last week and hit the mark of 18 US$. After the sharp rise since February the question is now: When will the metal get out of puff? From a chart technical perspective silver has to break the strong resistance at 17.80 US$, at which it recently bounced off, for another rising. Should this work at the second try, the next important marks will be 18.05 and 18.50 US$. On the other side silver should avoid to fall below 17.30 US$ to not get into a stronger struggle downwards. Support levels can be found at 16.90, 16.65 und 16.05 US$. Based on the relatively overheated chart picture, a short time backtrack would be preferable.
Precious Metals strong after disappointing US-employment rates
Silver and gold acted again very strong. The most important reason for that are weak US-employment rates, which became public on Friday. Therefore the amount of employees outside the agricultural sector rose by 160,000. 205,000 were expected. Furthermore the numbers for March have been reduced from 215,000 to 208,000 and for February from 245,000 to 233,000. The Fed is not able to raise the federal funds rate without a stable job market. Goldman Sachs expects the next change in interest rates in September (before: June). No more interest rate increases are supportive for gold and silver, which do not bear an interest.
Video: Gold - Comeback is getting real
Company News:
Inca One Gold restructuring management team
About two weeks ago Inca One Gold announced the successful restructuring and reduction of its debts. According to this the company had been able to reach agreements for around 10 million US$ with a majority of its creditors. A few days ago similar steps have been undertaken at the management. Therefore the company announced that George Moen has stepped down from his senior management position as Chief Operating Officer and transitioned into a strategic advisory role with the company. This step allows to further reduce administrative overhead while still maintaining an advisory presence. In the same way it means some more financial space which has to be utilized now.
News: Inca One debt rstructuring
Cyprium Mining generates cash and reduces debts
Cyprium Mining recently announced that it has completed a second closing of its previously announced private placement. In this closing, Cyprium issued 2,300,000 Units for gross proceeds of 149,500 CA$. Furthermore the company has been able to complete up to 570,887 CA$ in various debt settlements by way of either Units and/or Common Shares to be issued at a price of 0.065 CA$ per Unit and/or Common Share. This has the effect that Cyprium is now in large part debt-free. Furthermore it is able to develop the Potosi silver mine.
News: Cyprium with PP and debt restructuring
EnWave receives another purchase order
A couple of days ago EnWave announced that it has received a second purchase order and deposit from Natural Nutrition, d.b.a. Nanuva Ingredients, for a Radiant Energy Vacuum (“REV™”) machine. This second REV™ machine will double the processing capacity of Nanuva. Nanuva is one of six licensed partners of EnWave that are actively producing commercial fruit and vegetable products. The doubling of the processing capacity will have a very positive effect on and increase the quarterly royalty, which is based on the wholesale value of the total amount of REV™-dried products sold.
News: ENW with additional machine order
Rumors Corner:
Copper: The supply chain seems not to be intact
The copper price crashed under 2.00 US$ per pound at the beginning of the year. Since that time it gained some 15%. One reason for this rebound could simply be found in the copper supply chain. Recent incidents show that the supply side of the copper market seems not really be stable, while the demand side steadily adds on. In the recent past there have been quite a few supply incidents in Chile, the world’s largest copper producer, which caused out of rainfalls and floodings. One of the most influenced companies was Codelco, the world’s largest copper producer (and second-largest molybdenum producer). Amongst others, UniCredit therein sees some kind of susceptibility of the copper supply chain, which can be different in size but always be negative for the copper supply.
In contrast to that there is China, which recorded a record of copper imports. Furthermore the electro mobility seems to get rolling. That means that every electric car will contain between 100 and 150 kilos of copper. At only 500,000 cars per year from 2020 on, we will speak about 50,000 to 75,000 tons of copper per year! Trend: upwards! Just as the copper price!
Video: Copper is getting hot
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