The past year was a difficult one overall for the metals, with the main standouts to the upside being a geopolitical risk-driven gain in gold, a China-driven rise in iron ore and a surge in uranium on broadening global support for nuclear power (Figure 1). A jump in global interest rates to near two-decade highs saw recession fears persist all year, and while one still did not actually eru...Read More

This year the post-global health crisis boom was brought to an end by a surge in inflation to forty-year highs, a major rise in global interest rates in an attempt to curb the rising prices and surging geopolitical risk after Russia's invasion of Ukraine. While precious metals held up reasonably well as markets turned to them as a risk hedge, by Q2/22 the higher interest rates put an end t...Read More

Chile is the world leader in copper production, at 28.5% of the total in 2020, and this looks set to continue, with the country having the largest global reserves, at 23.0% of total. It is also the global leader for molybdenum, which is often found along with copper, and is a major lithium player, holding 51.1% of global reserves. Read More

Newfoundland has become a gold exploration hotspot over the past few years, with the sector seeing some of its strongest activity ever. While the province remains a small contributor to Canadian gold production, it has a substantial mineral industry well supported by the government, focused on iron ore, copper and nickel, and the surge in exploration suggests that gold output from the...Read More

Nevada is the core of the U.S. gold output, accounting for by far the majority, at 75.4% on average for the past year. The state looks set to remain a dominant player in U.S. gold, as it accounts for 49% of total U.S. reserves, with Alaska slightly ahead with 51% of reserves, but just 8.6% of current production. The U.S. accounts for 6.1% of global gold output, making Nevada one of the largest gol...Read More

The Golden Triangle in northwestern British Columbia has historically been a major site of Canadian gold production, beginning as early as the mid 1800s. There was a wave of production in the 1990s which cooled as the gold price declined, but larger scale production resumed in 2017, and the area has seen surging exploration interest over the past year, given that the region has some of the largest...Read More

In this report we outline the Quebec gold mining industry, including its major producers, and a survey of many of the junior miners focused on the province. Quebec accounts for 34% of Canadian gold production (second to Ontario, with 44%) and remains a major focus for both producers and junior miners.Read More

Red Lake has been one of the most prolific gold mining districts in Canada and the world, with exploration having started in the 1920s, and production, which began in the 1930s, continuing to the present day. The district is known for the high grade of its gold, its infrastructure, and strong institutional support, given the long history of mining in the area.Read More

JetBlue and Spirit merger will likely go through. The Department of Justice's legal footing, Section 7 of the Clayton Act, may be fairly weak.Read full newsRead More

Vltava Fund is dedicating this letter to shareholders to the allocation of capital by companies and how we view it. Click here to read the full fund letter.Read full newsRead More

How's the war going? Huh? Do you mean the war over in Ukraine? Or the US government's war against its own people?Well, the first one, the Ukraine War, is mostly destroying Europe - though, apparently, the denizens of Germany, Holland, et al., haven't figured that out yet. Europe's industrial economy is toast without affordable Russian natural gas supplies.We turned off their pipeline for that in S...Read More

There are risks to Delta's business, as there are risks with any airline. Read why Delta has a strong execution path ahead.Read full newsRead More

I saw that the prime age employment/population ratio hit 80.7 in March. Read more here.Read full newsRead More

American Airlines won't be harmed by higher oil prices. Read why American Airlines (AAL) stock remains incredibly cheap.Read full newsRead More

Gold rose by 9.2% during Q1, to US$1,980/oz, propelled by fears of an economic crisis and simmering geopolitical tensions.Read full newsRead More

The Vanguard Health Care VHT ETF is an excellent defensively-oriented fund to hold during challenging economic times. Read about the fund's recent outperformance.Read full newsRead More

The March employment report showed job creation slowed, but remains above 2018 and 2019 levels. Read why labor force participation remains an issue.Read full newsRead More

Panama's Bladex is a unique trade-focused bank. Read why Bladex is in an advantageous position for dealing with current banking industry conditions.Read full newsRead More

Unemployment remains tight at 3.5%, setting the stage for another interest rate hike. See why investors should follow jobs data by investing in growing sectors.Read full newsRead More

Many investors lack appropriate exposure to corporate debt positions. iBonds ETFs provide structural and strategic benefits for investors. Read more here.Read full newsRead More

Seadrill's reorganization will help the company rethink its strategy. Read more on how this move helps Seadrill prepare itself for renewal in offshore development projects.Read full newsRead More

Google (GOOG) is likely to see only single-digit topline growth due to persistent ad market weakness, but it should report solid free cash flows. Read more here.Read full newsRead More

Cricut went public during the pandemic as it experienced strong stay-at-home user growth. Read why, as the pandemic waned, user engagement and demand dropped for CRCT.Read full newsRead More

The recession red flag has been raised. Read how the spread between the 10-year and 2-year US Treasury securities is rising after crashing.Read full newsRead More

Hanryu Holdings filed proposed terms for a $36 million U.S. IPO. Read why the firm, which operates a fan-celebrity platform aimed at Asian audiences, may be a pass for investors.Read full newsRead More

Con Edison outperformed their recent Q4 2022 earnings and have solid guidance going into 2023. See our analysis of ED stock.Read full newsRead More

Black Hills stock may still be a sell, but the situation has changed somewhat for the utility. Read what could be next for this South Dakota-based company.Read full newsRead More

Ford is focusing heavily on an EV future, but the current operational performance track record is uninspiring. Read more about F here.Read full newsRead More